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…
Qatar's Bigger LNG Expansion to Squeeze US, Other Rivals
Qatar's planned expansion of liquefied natural gas (LNG) production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approvals, market experts say.Qatar, one of the world's top LNG exporters, plans an 85% expansion in LNG output from its North Field's current 77 million metric tons per year (mtpa) to 142 mtpa by 2030, from previously expected 126 mtpa.Some market experts said that the move will have an impact on global projects in the United States…
Mauritius Allows Norwegian Dawn Cruise Ship to Dock After No Trace of Cholera Found
Mauritius will allow a ship belonging to Norwegian Cruise Line Holdings to dock after no trace of cholera was found in samples taken from passengers on board, a senior health official said on Monday.Authorities on the island nation off the coast of east Africa prevented the Norwegian Dawn from docking over the weekend over what they said were "health risks," without elaborating.Samples were taken from around 15 passengers who were experiencing a mild stomach illness.Bhooshun Ori…
Floating Production – A Growing Segment in Transition
The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis, click hereThe established floating production segment is forecast to experience continued growth through this decade, driving demand for, among other things, moorings, subsea systems, umbilicals, risers, flowlines and the large anchor handlers and subsea support vessels that will install and maintain the elements.At the same time…
Oil Tankers Continue Red Sea Movements Despite Houthi Attacks
Oil and fuel tanker traffic in the Red Sea was stable in December, even though many container ships have rerouted due to attacks by Iran-aligned Houthi militants, a Reuters analysis of vessel tracking data showed.The attacks have driven up shipping costs sharply along with insurance premiums, but have had less impact than feared on oil flows, with shippers continuing to use the key East-West passage. The Houthis, who have said they are targeting Israel-bound vessels, have largely…
Monjasa Acquires Two Tankers
Monjasa remains active in the market for secondhand tonnage following the acquisitions of three tankers earlier this year. The oil and shipping group on Thursday revealed additional ownership of the two tankers, Monjasa Leader (68,589-dwt) and Monjasa Refiner (13,051-dwt) for floating storage and bunker operations in West Africa.Monjasa recently took delivery of the two vessels Monjasa Leader (formerly Cabo San Antonio) in Algeciras, Spain and Monjasa Refiner (formerly Saturn) in Bremerhaven…
Varamar, COSCO Shipping Enter Strategic Commercial Partnership
Varamar DMCC has entered into a strategic commercial partnership with ASL Shipping & Logistics Pvt Ltd, a COSCO Shipping Group company, with the aim of helping both companies to strengthen their respective trades.Varamar, a liner and tramp carrier that specializes in breakbulk, dry-bulk, oversized, and containerized cargo, has historically focused on trade lanes connecting Europe with the Middle East, Asia, and the Far East, while also trading to Africa and the Americas. The recent expansion of Varamar to 10 international branches…
Growing Tanker Fleet, Cheaper Freight Challenge Russian Oil Price Cap
Russian crude oil producers are enjoying the cheapest costs to ship to refiners in China and India in almost a year thanks to a growing number of vessels plying the routes, according to trading and shipping sources.The arrival of new shippers working outside the purview of Western governments allows Russian firms to earn more than the $60 per barrel cap that the U.S. and its allies had aimed to impose on Russia through sanctions. It also means that enforcing the price cap will have a limited impact on Russian revenues.On Thursday, the U.S. imposed the first sanctions on owners of tankers carrying Russian oil above the cap, one based in Turkey and one in the United Arab Emirates…
MPA Singapore and LR Sign ‘Silk Alliance’ MoU
Lloyd’s Register Maritime Decarbonisation Hub and the Maritime and Port Authority of Singapore (MPA) have signed a Memorandum of Understanding (MoU) aimed at collaborating on a fleet-specific decarbonisation strategy for ‘The Silk Alliance’ cross-industry initiative to enable zero-emission shipping across the Indian and Pacific Oceans.The collaboration includes driving investments into scalable fuel supply infrastructure to meet the demand of members of The Silk Alliance and potential wider regional bunkering demands for alternative fuels.Launched in May 2022…
US Set to Blow Up Fake Warship in the South China Sea
As part of a joint military exercise with the Philippines, the U.S. Navy is slated to sink a mock warship on April 26, 2023, in the South China Sea.The live-fire drill is not a response to increased tensions with China over Taiwan, both the U.S. and the Philippines have stressed. But, either way, Beijing isn’t happy – responding by holding its own staged military event involving actual warships and fighter jets deployed around Taiwan, a self-governed island that Beijing claims as its own.The tit-for-tat war games underscore a reality that U.S.
UN Ships Food Relief from Ukraine to Drought-stricken Horn of Africa
A ship carrying wheat from Ukraine to the drought-stricken Horn of Africa docked on Tuesday, the United Nations said, the first to make the journey since the Russian invasion six months ago.The vessel Brave Commander is carrying 23,000 tonnes of grain and will soon be followed by another carrying 7,000 tonnes.The total shipment, which will be unloaded in Djibouti and transported to Ethiopia, is enough to feed 1.5 million people for a month.That barely begins to alleviate the problems of Eastern Africa, where the United Nations' World Food Programme says extreme weather, surging food prices and conflict mean 82 million people need food aid across nine countries - Burundi…
Lake Victoria Ferry Equipped with Schottel Propulsion
A ferry serving Lake Victoria in East Africa has been fitted with new Schottel propulsion systems.With an area of nearly 69,000 square meters, Lake Victoria is the largest lake in Africa—and a vital resource for around 30 million people who live on its shores. It is not only a source of water and fish but also provides them with transport routes. Every day, almost 40 ferries travel across the lake between Tanzania, Uganda and Kenya. One of these ferries is the 1985-built Sengerema…
Posidonia 2022: DNV, Saronic Ferries Sign MoU for Electric Ferry Development
DNV and Saronic Ferries signed a memorandum of understanding (MOU) designed to enable the development of an electric ferry for local deployment in Greece. The collaboration is targeted toward a fully electric concept for deployment on short-sea passenger routes in the Argosaronikos area. The MoU was signed at the Posidonia 2022 trade fair."The use of all-electric or hybrid vessels in the short sea ferry segment has surged in recent years as the benefits of the technology has been demonstrated in pilots and full-scale deployments.
Valenciaport Notes that War, Inflation, Shortages Hamper Spanish Export Activity
Between January and April, the number of containers full of cargo (export) fell by 12.72% and those unloaded (import) increased by 6.96%The geopolitical situation, the war in Ukraine, the increase in the cost of energy and the shortage of raw materials are weighing down export activity. Foreign trade in all sectors such as vehicles (-7.68%), agri-foodstuffs (-15.79%), construction materials (-10.55%) and chemical products (-18.14%) fellOn the other hand, domestic demand is growing in most of the sectors that enter through the Valencian docks.
Med Marine Delivers New Tug to Kenya Port Authority
Kenya Port Authority's new tug, Mwokozi II, was delivered to her home port of Mombasa on January 10, 2022.The Mwokozi II is a custom design 42-meter, 120 tonne bollard pull RAstar 4200 salvage and harbor tug developed by Robert Allan Ltd., with particularly outstanding performance in maneuvering, seakeeping, and stability.The Turkish shipbuilder Med Marine was contracted to build the new tugboat at its group owned Eregli Shipyard. The keel was laid on March 23, 2020, and construction…
Intelatus Formed Through WER-IMA Merger
Long-serving marine, energy and industrial market consultancies International Maritime Associates and World Energy Reports have merged to form Intelatus Global Partners.While Intelatus is a new name, its team of business consultants has nearly five decades of experience across the entire maritime supply chain, producing multi-client analytical studies for sectors including offshore oil and gas, renewables and the energy transition, ports and terminals, transport and logistics…
McDermott Wraps Net Zero LNG Construction Study for Shell
Offshore engineering and construction company McDermott said Monday it had completed a liquefied natural gas (LNG) construction study for Shell, "identifying tangible reduction pathways toward net-zero construction emissions."The results of this study provide a strategic framework for reducing greenhouse gas (GHG) emissions in LNG facilities during the project execution phase, McDermott said."Operators continue to seek actionable plans to advance their commitments to net-zero emissions by 2050…
Drones, Navies, Attack Boats: Will They be Enough to Tackle the World's Latest Piracy Hotspot?
Helicopters hover above a patrol vessel in Nigeria's frenetic Apapa port as attack boats zoom past. On the dock, drones emblazoned with the Nigerian flag sit ready to deploy – all part of a $195 million U.S.-backed "Deep Blue" initiative to deter pirate attacks in the world's most dangerous area for seafarers.The more than 2.35 million square kilometer (910,000 million square mile) expanse of the Atlantic Ocean that borders some 20 West African nations is known as "pirate alley"…
Asyad Looks Abroad for Possible Expansion
Oman's state-owned Asyad is considering buying ports and terminals abroad and could divest assets outside its core logistics business, such as a college and project management operation, its chief executive said on Thursday.The plans by the company, which is owned by the Oman Investment Authority, align with the small oil producing Gulf state's broader strategy to reduce reliance on crude revenues and expand its non-oil industries.Chief Executive Abdulrahman Salim Al Hatmi told…
What Does the Future Look Like for LNG Projects in Mozambique?
What are the implications of the conflict in Cabo Delgado for maritime security in East Africa and the Mozambique Channel?Following the recent attacks on the coastal town of Palma in March-April by Ahlu Sunnah Wa-Jamamah (ASWJ) insurgents in Mozambique’s troubled Cabo Delgado region, it is pertinent to assess the future trajectory of the conflict in the commercial maritime domain and the challenges it may pose to trade within the region. During the battle for Mocimboa da Praia…
BV Completes Classification of Ghana's LNG Floating Regasification Unit
Bureau Veritas (BV), a testing, inspection, and certification body, has completed the classification of the Torman LNG floating regasification unit (FRU) at Tema port, Ghana in sheltered waters.The unit is combined with a floating storage unit (FSU) for the delivery of gas to onshore consumers."This exciting development of Gasfin’s facility – involving the Torman LNG FRU and a Moss-type LNG floating storage unit (FSU), both classed by Bureau Veritas – paves the way for the first…
Teresa Peacock Joins Dryad Global as Non-executive Director
Maritime security risk management firm Dryad Global announced Tuesday it has appointed Teresa Peacock as its first non-executive director.Peacock is currently managing director at maritime staffing and recruitment firm Spinnaker Global and a member of the Maritime UK’s Diversity Taskforce, a board member of the Women's International Shipping & Trading Association (WISTA UK) and a part of the All Party Parliamentary Group for Women and Work. Her experience spans a career in recruitment of over 30 years…
Sherrard Enhances Squire Patton Boggs Commodities and Shipping Capabilities
Squire Patton Boggs continued the expansion of its commodities and shipping capabilities with the addition of partner Kate Sherrard into its Financial Services Practice. She joins the firm from Clifford Chance where she was Head of the Asia Pacific Maritime and Offshore Group and is accompanied by senior associate Bernice Chia.“When we launched our commodities and shipping group last year we set our sights on creating one of the premier practices in the market,” said Steve Mahon, global managing partner – clients and strategy.