CEO Says Exxon Mobil Not Trying to Buy Hess
Exxon Mobil CEO Darren Woods on Monday said his company is trying to establish it has rights over Hess Corp's Guyana assets in its dispute with Chevron, not buy the company itself.In his first public remarks on the company's pursuit of an arbitration case that could block Chevron's $53 billion deal for Hess, Woods said Exxon would not have waited for Chevron to announce its Hess deal if it had wanted to buy Hess."We're basically standing up for what we believe is a fundamental right," Woods told Reuters at the CERAWeek energy conference in Houston.
BOEM Finalizes Wind Energy Area in the Gulf of Maine
The Bureau of Ocean Energy Management (BOEM) has finalized its designation of a Wind Energy Area (WEA) in the Gulf of Maine. The Final WEA has the potential to support generation of 32GW of clean energy, surpassing current state goals for offshore wind energy in the Gulf of Maine: 10GW for Massachusetts and 3GW for Maine. The WEA totals about two million acres offshore Maine, Massachusetts, and New Hampshire, ranging from approximately 23 – 92 miles off the coast.BOEM finalized the WEA after extensive engagement with the states of Maine…
Brunvoll Inks DP2 Upgrades Deal for More Møkster Vessels
Maritime systems supplier Brunvoll has signed a contract with Simon Møkster Shipping to deliver upgrades for Stril Mermaid and Stril Mariner vessels.In addition to replacing the existing DP2 systems for the two vessels, Brunvoll will also replace the current propulsion and thruster control systems, as well as the independent joystick system.The systems will be replaced with Brunvoll's BruCon DP2, BruCon PTC (Propulsion & Thruster Control), and BruCon JS.This will ensure even better…
NYK Receives Data Management Award
NYK received the grand award at Data Management 2024 hosted by the Japan Data Management Consortium (JDMC) on March 8.JDMC established the Data Management Award in 2014 to publicize data management's role and importance and share pioneering know-how.NYK has been developing and utilizing data lakes - a data management system for data utilization and analysis. They are suitable for collecting and storing vast amounts of data, regardless of the format or scale of the data to be stored.NYK…
RINA to Chart Decarbonization Path for Cruising Sector
Italian marine engineering consultancy RINA has secured a contract from the Cruise Lines International Association (CLIA) to carry out a comprehensive Global Investment Plan Study aimed at steering the cruise sector towards a sustainable future.The research will provide a worldwide scenario focused on the cruise sector, mapping real-time energy needs, infrastructure and regulations with foresight scenarios extending to 2050.The cruise sector is recognized as one of the most active in driving the shipping industry towards greater sustainability.Today…
Updated Framework Released for Comparing Decarbonization Technologies
The Maritime Technologies Forum (MTF) has released an updated Framework for Assessing Decarbonization Technologies and Alternative Energy Carriers and a comprehensive assessment on the maturity and readiness of alternative fuel options, expanding the number of evaluated fuels covered since the previous heatmap report issued in November 2022.The assessment applied MTF’s recently updated framework to an expanded set of eight fuels, including fossil LNG, fossil MGO combined with carbon capture and storage (CCS)…
Nord Stream Sues Insurers in London Over 2022 Pipeline Blasts
Nord Stream is seeking more than 400 million euros ($436 million) from its insurers over explosions in 2022 which ruptured pipelines designed to transport Russian gas to Germany, court filings show.Nord Stream AG names Lloyd's Insurance Company and Arch Insurance (EU) DAC as defendants in its lawsuit, which was filed at London's High Court last month.Switzerland-based Nord Stream confirmed in an email there is a contractual dispute in London commercial courts between itself and insurers of the pipeline system."However…
German Shipowners Seek Clarity from Berlin on Carbon Trading
German shipowners' group VDR on Tuesday urged the Berlin government to provide legislation implementing European Union requirements to include the sector in the bloc's carbon trading system.The government is behind in transforming an EU agreement late in 2022 to require shipowners to buy EU carbon permits to trigger investment in greener technologies, into national legislation, VDR said at its annual press conference."For us, the cornerstone of our operations is not only planning certainty but also the assurance of uniform competitive conditions on an international scale…
ONE Establishes New Headquarters in Dubai
Ocean Network Express (ONE) has opened a West Asia Regional Headquarters in Dubai. The move aims to expand ONE's growth in the rapidly developing markets of the Indian Subcontinent, Middle East and East Africa.The West Asia Regional Headquarters office will serve as ONE’s central hub across the region, encompassing functions such as commercial activities, customer service, and digitization. It will also house a team dedicated to developing regional trade partnerships and exploring…
Panama Canal to Increase Daily Transits to 27
In response to the current and projected level of Gatun Lake, the Panama Canal Authority has announced, through Notice to Shipping Lines No. A-08-2024, that it will increase the number of daily slots available in the Panamax locks.Two additional slots will be offered by auction for transit dates scheduled starting March 18, and one additional slot will be available for transits scheduled starting March 25. This will bring the number of transits from 24 to 27.These measures allow the majority of ships that wish to transit the Canal to have a better chance of obtaining a reservation…
Furuno Unveils TZtouchXL With Risk Visualizer And AI Avoidance Route
Marine electronics manufacturer Furuno introduced the NavNet TZtouchXL series, a suite of Multi Function Displays (MFDs) designed to meet the requirements of workboat operators, including ferries and tugboats.The NavNet TZtouchXL series encompasses three large-sized MFDs: the 16” TZT16X, 22” TZT22X, and 24” TZT24X. These MFDs feature super-wide, all-glass displays with exceptional clarity and brightness. The rugged all-glass design is not only functional but also enhances the durability and functionality of the helm.
Gram Car Carriers Refinances Viking Adventure
Norwegian shipowner Gram Car Carriers announced it has refinanced the Viking Adventure with an undisclosed Japanese bank.The new $41 million loan has a duration matching the vessels current charter ending in mid-2028 and a margin of SOFR +1.73%. This compares a margin of SOFR +4.26% under the previous lease financing which was repaid earlier this year, the company said.“We are pleased to welcome one of the premier banks in Japan in our banking group as we optimize our capital structure and cost base to maximize profit and shareholder returns.
Babcock Delivers Refitted HMS St. Albans to Royal Navy Ahead of Schedule
Defense company Babcock International has delivered Type 23 frigate HMS St. Albans back to the Royal Navy for sea trials three months ahead of the planned schedule, following a refit operation.Once the current sea trials are completed, HMS St. Albans, with her 178-strong crew, will return to sea as the most advanced, equipped, and capable Type 23 frigate in the Royal Navy’s fleet, boasting next-generation weapons systems and radar, according to Babcock.During her time in dock…
Siem Offshore Secures Contract Extension for Multi-Purpose Support Vessel
Norwegian offshore vessel owner Siem Offshore has been awarded a contract extension for the multi-purpose support vessel (MPSV) Siem Dorado.According to Siem Offshore, the extension secures the utilization of Siem Dorado MPSV for a period reaching towards the end of the fourth quarter in 2024.The contract is expected to start in direct continuation of the current contract with continued operations expected outside the North Sea.The Siem Dorado is a 2009-built diesel electric-driven vessel.
Ship Evacuated After First Civilian Fatalities in Houthis' Red Sea Attacks
India's navy evacuated all 20 crew from a stricken vessel in the Red Sea on Thursday, after a Houthi attack killed three seafarers in the first civilian fatalities from the Yemeni group's campaign against the key shipping route.The Iran-aligned militants fired a missile at the Barbados-flagged, Greek-operated True Confidence on Wednesday about 50 nautical miles off the southern Yemeni port of Aden, setting it ablaze.In a statement, the owners and manager said all 20 crew and three…
Sharp Uptick Seen in Crude Tanker Ordering
Contracting activity for for crude tanker newbuilding has risen sharply to start 2024, driven by a steep rise in orders for very large crude carriers (VLCC), according to shipping organization BIMCO.In the first two months of 2024, crude tanker newbuild contracting surged to 7.4 m DWT, a 490% leap y/y. Notably, the 19 VLCCs ordered in January and February is more than was ordered for the entirety of 2023.Freight rates for crude tankers spiked at the start of the war in Ukraine, and they have largely stayed strong since, said Filipe Gouveia, shipping analyst at BIMCO.
ClassNK Grants Innovation Endorsement for Cassandra Monitoring Platform
Classification society ClassNK announced it has granted an Innovation Endorsement for Products & Solutions to a vessel and voyage performance monitoring platform called Cassandra, developed by Deep Sea Technologies SMPC.Cassandra integrates performance data from vessels with AI technology, and then enables real-time monitoring of the ship’s current status. It is cloud-based and designed to monitor fuel consumption, CO2 emissions, as well as hull and engine performance from shore.ClassNK has verified the functions of Cassandra.CO2 emissions monitoring…
Damen and Saab Agree to Export C-71 Submarines
Damen Shipyards and Saab have agreed to export the advanced expeditionary C-71 submarines, which have been developed for the Royal Netherlands Navy to replace the current Walrus class.The agreement doubles the long-term prospect of employment and income for the Netherlands Naval Cluster with the replacement of the Walrus submarines by Saab-Damen.Saab and Damen have been working together since 2015 to build, modernize, and maintain the new expeditionary submarine for the Royal Netherlands Navy.The two companies have now also agreed to offer their advanced expeditionary submarines to Canada…
Posidonia 2024 Exhibitors Anticipate Paradigm Shift as AI Gains Traction
The maritime industry, often viewed as conservative and measured in its approach to technological integration, is on the cusp of a transformative era with artificial intelligence (AI) emerging as a prominent player. Insights from key exhibitors at the upcoming Posidonia Shipping Εxhibition reveal a new landscape, where industry leaders strategically align with the inexorable rise of AI and consider adopting it already.According to Theodore Vokos, Managing Director, Posidonia Exhibitions S.A.…
ClassNK Grants Innovation Endorsement for “ACE Function”
ClassNK has granted its Innovation Endorsement for Products & Solutions to a straight leg course control called “ACE Function” (ACE: Advanced Control for Ecology), which can be integrated with the autopilot systems, “PR-9000” and “PR-6000” offered by Tokyo Keiki Inc.“ACE Function” can automatically create a straight route and implement navigation at the shortest distance, only by setting the ship's current position and the heading of a destination. While navigating, it constantly estimates disturbances (tidal currents…
Seaspan Shipyards Orders ABB Propulsion for Canadian Polar Icebreaker
Canadian shipbuilder Seaspan Shipyards has awarded ABB a contract to deliver an integrated propulsion system for the first of the Canadian Coast Guard’s (CCG) new-generation polar class icebreakers.The first vessel of its kind to be built in Canada in over 60 years, the vessel is expected to be one of the world’s largest and most powerful diesel-electric icebreaker when it enters service in 2030, complying with IACS Polar Class 2 requirements for year-round operations in moderate multi-year ice conditions.
Berge Bulk Orders Ammonia-fueled Newcastlemax Pair
Berge Bulk informs it has placed an order for two ammonia dual fuel vessels from China's Qingdao Beihai Shipbuilding Heavy Industry as part of a push by the dry bulk shipowner to decarbonize its operations.The two 210,000-DWT Newcastlemax vessels will meet the International Maritime Organization's (IMO) Tier III NOx (nitrogen oxides) standards and Energy Efficiency Design Index (EEDI) Phase 3 compliance for greenhouse gas emissions.The Singapore-headquartered company has been…
Egypt Studying Further Expansion of Suez Canal
Egypt is studying further expansions of the Suez Canal to extend and complete a second channel of the waterway, the canal's head said on Monday, a move that could allow for higher volumes of shipping and prevent blockages from halting traffic.The comments come as the canal is seeing a sharp fall in revenue due to shipping companies diverting away from the waterway, the shortest route between Europe and Asia, because of attacks by Houthi militants in Yemen against ships in the Red Sea.Any new extension would come on top of current work to extend the second channel by 10 kilometers, and to deepe