Container Shippers in Store for Stormy 2024 - Xeneta
Supply chains around the world could be at serious risk amid expected increases in the cost of ocean freight shipping during 2024.Oslo-based Xeneta has carried out in-depth analysis of the latest ocean freight rates and branded the current market as unsustainable.Xeneta CEO Patrik Berglund said: “The cost of moving goods by sea has plummeted during 2023 by almost 60% for long term contracts on a global level and some corridors, such as the Transatlantic into US East Coast and Far East to Europe…
Port of Melbourne Considers Green Methanol Bunkering
A Memorandum of Understanding (MoU) has been signed between Australia’s Port of Melbourne and Maersk, ANL (a subsidiary of CMA-CGM), Svitzer, Stolthaven Terminals, HAMR Energy and ABEL Energy to explore the commercial feasibility of establishing a green methanol bunkering hub at the port.The collaboration will examine a potential project involving the transportation of green methanol from production sites in Bell Bay, Tasmania (ABEL Energy) and Portland, Victoria (HAMR Energy)…
Shell Taps Alfa Laval to Develop Gas Combustion Unit for Liquid Hydrogen Carriers
Shell International Trading and Shipping Company Limited has signed a memorandum of understanding (MOU) with Alfa Laval regarding the development of a new Gas Combustion Unit (GCU) for use on liquid hydrogen carriers.By paving the way for the safe transport of hydrogen by sea, the project is an important step on the path to global decarbonization. Crucial safety for zero-carbon fuel Under the MOU, Alfa Laval will develop a system to safely combust hydrogen boil-off gas (BOG) from a vessel’s storage tank, as part of a new liquid hydrogen carrier.
CMA CGM Expects Shipping Slowdown After Another Strong Quarter
Weakening consumer spending is curbing shipping demand and freight rates, transport giant CMA CGM said on Friday as it reported another jump in quarterly profits.French-based CMA CGM, one of the world's largest container lines, reported a net profit of $7.6 billion for the second quarter, up from $3.5 billion in the year-earlier period and also surpassing $7.2 billion in the first quarter.Higher container revenues helped offset rising operating costs in the past quarter, including a near 75% year-on-year jump in ship fueling costs…
From Surface to Subsea to Space: U.S. Navy Shipbuilding Outlook 2022
As a rudderless U.S. Navy debates maritime strategy, fleet futures and platform performance, America’s naval shipbuilding industry can look forward to another year of relative stasis.Barring a major geopolitical incident or unexpected maritime provocation, government shipbuilding isn’t going to change course. With Admiral Michael Gilday approaching the final “lame duck” year of his four-year term as Chief of Naval Operations and the 2024 election season looming, the prospect for major changes in the Navy’s demand signal seems limited.Aside from the U.S.
Wärtsilä Invests in Marindows, Targeting Decarb Efforts in Japan
Wärtsilä Voyage has completed an investment in Marindows, a Japanese company delivering an open digital platform for Japan’s marine industry, a move designed to strengthen Wärtsilä Voyage’s commitment to the Japanese market.Together, Marindows and Wärtsilä Voyage will work in the areas of vessel optimization and autonomy. “It's a great pleasure to have Wärtsilä Voyage as the first overseas partner collaborating with Marindows and participating in our project. Marindows also welcomes Wärtsilä's strong commitment to the Japanese market…
MOL Completes Ammonia/Liquefied CO2 Carrier Concept Study
Mitsui O.S.K. Lines, Ltd. (MOL) announced it recently completed a concept study on an ammonia/liquefied CO2 carrier intended to flexibly meet future demand for transport of liquefied CO2 and ammonia transport. The Japanese shipping company said it worked with the Mitsubishi Heavy Industry (MHI) Group's Mitsubishi Shipbuilding Co., Ltd. on this research.According to MOL, its liquefied CO2 carrier (LCO2 carrier) concept is being developed in hopes that it will play a key role in…
Ørsted, Maersk in 'Record-breaking' Green Fuels Deal, with US Power-to-X Plant Planned
Wind power giant Ørsted said Thursday it had signed an agreement with shipping giant Maersk to develop Power-to-X-facility on the US Gulf Coast to fuel Maersk’s newly ordered fleet of 12 methanol-powered vessels.As part of the agreement, Ørsted said that two companies have signed a letter of intent (LOI) on "record-breaking" offtake agreement for green fuels in the maritime industry."Over the past two decades, greenhouse gas emissions from the global maritime industry have risen sharply to account for around 2 % of global energy-related emissions.
Bollinger to Build Pontoon Launcher for Electric Boat
Bollinger Shipyards on Monday announced it will construct a new pontoon launcher for General Dynamics Electric Boat to support the construction and launching of the U.S. Navy’s Columbia Class Ballistic Missile Submarines.The concept and contract design for the 496- by 95-foot pontoon launcher was performed by the Bristol Harbor Group in Rhode Island. The detail design engineering will be performed at the Bollinger facility in Lockport, La. The launcher is scheduled to be delivered…
Shipping Costs: Another Danger for Inflation-watchers to Navigate
Much like the coronavirus pandemic, and the economic disruption that it has caused, a global shipping crisis looks set to go on delaying goods traffic and fueling inflation well into 2023.Shipping rarely figures in economists' inflation and GDP calculations, and companies tend to fret more about raw materials and labor costs than transportation. But that might be changing.The cost of shipping a 40-foot container (FEU) unit has eased some 15% from record highs above $11,000 touched in September, according to the Freightos FBX index.
New Ocean Transport Barge Arrives at Electric Boat’s Groton Shipyard
On Monday, the new ocean transport barge Holland arrived at Electric Boat’s Groton Shipyard. The barge was purpose-built to support delivery of Columbia class ballistic missile submarines. General Dynamics Electric Boat is the prime contractor on construction of the Columbia class.The Holland was designed by Bristol Harbor Group, Inc. (BHGI) and constructed by Bollinger Shipyards, LLC, of Lockport, La. The namesake of the new barge is John Holland, the Irish-born immigrant who designed the first submarine purchased by the U.S. Navy.
DP World Sees No Quick End to Global Shipping Bottlenecks
Dubai ports giant DP World sees no early end to disruptions in global supply chains that have set off delays at ports and logistics hubs around the world, its chairman said on Friday.The disruptions, a result of pandemic lockdowns and an unexpectedly rapid recovery in demand, have also led to shipping container shortages and skyrocketing freight rates."I really don't think it's going to be resolved this year, DP World's Sultan Ahmed bin Sulayem told Reuters on the opening day of Expo in Dubai…
MOL, Marubeni Developing Dual-fuel Methanol Carrier
Marubeni Corporation and Mitsui O.S.K. Lines, Ltd. (MOL) are working together to develop a dual-fuel methanol/very-low sulfur fuel oil powered vessel to ship methanol from Russia.On September3, during the Eastern Economic Forum in Vladivostok, Russia, the Japanese firms signed a memorandum of understanding (MOU) with the Ministry of the Russian Federation for Development of the Far East and the Arctic Regions, State Development Corporation VEB.RF, VTB Bank and ESN Limited Liability Company (ESN Group) to commence a joint study to build…
Workforce Development: Apprenticeship Programs Help Build the Fleet
Naval shipyards and industry partners see business growing, but finding enough trained and qualified workers is a challenge.General Dynamics Electric Boat will invest $1.7 billion to modernize and upgrade its Quonset, R.I. and Groton, Conn., facilities over the next ten years,” said Sean Davies , vice president for EB’s Quonset Point Operations. “Here at Quonset, we are investing $700 million that will increase our outfitting space by 13 acres, to support work on the Virginia and Columbia class of submarines.
Electric Boat's New Submarine Transport Barge Christened
Bollinger Shipyards on Saturday christened the Holland, an ocean transport barge for General Dynamics Electric Boat. The Holland will support the construction and maintenance of the United States Navy’s Columbia Class ballistic missile submarines and Virginia Class fast attack submarines. General Dynamics Electric Boat is the prime contractor on the design and build of the Columbia Class submarine, which will replace the aging Ohio Class ballistic missile submarines.“Bollinger…
Bollinger Wins Preliminary Design Contract for US Navy’s Light Amphibious Warship
Bollinger Shipyards announced on Wednesday that it has been awarded a contract by the U.S. Naval Sea Systems Command to conduct a concept study and the preliminary design of the U.S. Navy’s Light Amphibious Warship (LAW).The LAW program envisions procuring a class of 28 to 30 new amphibious ships to support the Marine Corps, particularly in implementing a new Marine Corps operational concept called Expeditionary Advanced Base Operations (EABO). The Navy envisions the first LAW being procured in FY2023.“Bollinger Shipyards is honored and excited to continue participating in the LAW program,” said Bollinger president and CEO Ben Bordelon.
MOL Moves Into CO2 Shipping with Investment in Larvik Shipping
Japan's Mitsui O.S.K. Lines, Ltd. (MOL) said it will make its first foray into the liquefied CO2 ocean transport business through an investment in Larvik Shipping AS, a Norwegian ship management company for liquefied CO2 carriers.Liquefied CO2 ocean transport plays a key role in carbon dioxide capture utilization and storage (CCUS) value chains as a means of effectively connecting collection sites with storage or usage sites. CCUS is drawing attention as a technology to collect and store CO2 or use it effectively, and a step toward realizing a low-carbon society.
VIDEO: Dship Carriers Delivers Offshore Wind Pile Installation Frame to Taiwan
Ocean transportation services company Dship Carriers has said it has transported a 750-metric-ton Pile Installation Frame (PIF), measuring 33.5 x 33.5 x 29 meters, as well as other offshore and seabed equipment from Rotterdam, the Netherlands to An Ping, Taiwan.The delivery is part of a contract awarded by offshore installation services company Seaway 7 for an offshore windfarm project. Dship Carriers delivered the goods using its recently acquired MV Bruce multi-purpose heavy lift vessel."With a 75-meter-long main cargo hold…
Bollinger to Build Electric Boat's New Floating Dry Dock
Louisiana-based Bollinger Shipyards announced Wednesday it will construct a state-of-the-art, floating dry dock for Groton, Conn. shipyard General Dynamics Electric Boat to support the construction and maintenance of the United States’ new Columbia Class of Ballistic Missile Submarines.The detail design engineering will be performed at the Bollinger facility in Lockport, La. The concept and contract design for the 618ft by 140ft dry dock was performed by the Bristol Harbor Group in Rhode Island.
Container Shipping & Perfecting on-time Performance
Recent reports show that on-time performance in the containership sector continues to deteriorate, causing tension between the carriers and retailers. In general, non-ocean carriers – trucks and trains – are achieving reliability rates well above 90% whereas containerships rarely beat a 70% on-time threshold. For retailers, the threat of having empty shelves is beginning to swing the balance from cheaper ocean transport to a need for reliable just-in-time deliveries supplied by…
COVID-19 and Supply Chain Implications for Ocean Shipping
Only 10 days ago, reports indicated that China cargoes were returning to pre-coronavirus levels, and there appeared to be light at the end of the tunnel. Today, however, a barrage of new headlines has underscored the impact on the rapidly changing global supply chain, including in the United States. In addition to the aggressive spread of the novel coronavirus (COVID-19), new economic developments indicate a decreased trend in global manufacturing. Changes in local economies negatively impacting employees reflect corresponding changes in consumer buying patterns.
Maersk to Buy U.S. Warehousing and Distribution Firm
Danish shipping group A.P. Moller-Maersk said on Wednesday it had agreed to buy U.S. warehousing and distribution firm Performance Team as part of plans to deliver more customized logistics solutions.Maersk said the the value of the deal is $545 million, including lease liabilities of around $225 million.The world's largest container shipping firm aims to boost its earnings from its inland logistics operations, or non-ocean business. In 2018, the ocean transport business accounted for almost 80% of core earnings."This will strengthen our ability to deliver products and solutions that meet our customers' end-to-end supply chain needs…
MISC Clinches Petrobras Contract
Malaysia International Shipping Corporation Berhad (MISC) announced that its wholly-owned subsidiary, AET Tanker Holdings Sdn Bhd, has been awarded long-term charter contracts for three newbuilding Suezmax DP2 Shuttle Tankers from Petróleo Brasileiro S.A. – Petrobras of Rio de Janeiro, Brazil.AET, the petroleum shipping unit of MISC and specializes in the global ocean transport of petroleum, will own and operate the newbuilding Suezmax DP2 Shuttle Tankers for operations in Brazilian and international waters.The estimated contract value is USD525.6million and the charter is expected to commence in 2022, said a release.The new long-term…