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Logging News

12 Jan 2024

Baltic Dry Index Marks Worst Week Since 2008

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The Baltic Exchange's dry bulk sea freight index slid on Friday as its worst week since 2008 came to an end with rates across vessel segments languishing at multi-month lows.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, lost 94 points, or 6.1%, to 1,460, its lowest level since Nov. 2. It shed more than 30% for its biggest weekly decline since 2008.The capesize index dropped by 252 points, or 10.4%, to 2,172, extending its losing streak to the fifth session and hitting its lowest since Nov.

09 Jan 2024

Baltic Dry Index Logs Biggest Fall in a Month

© debjit / Adobe Stock

The Baltic Exchange's dry bulk sea freight index fell on Tuesday to a nearly seven-week low in its worst showing in more than a month, as rates across vessel segments hit multi-week lows.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 147 points, or 7.3%, to 1,875, hitting a fresh low since Nov. 23.The capesize index dropped by 350 points, or 9.7%, to 3,249, also logging its biggest daily fall since Dec. 7.Average daily earnings for capesize vessels…

15 May 2023

Dry Bulk: Baltic Index Slips

© Adwo / Adobe Stock

The Baltic Exchange's main sea freight index fell to its lowest in nearly three weeks on Monday, on weaker demand across all vessel segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels carrying dry bulk commodities, was down 36 points, or 2.3%, at 1,522 points in its third consecutive decline.The capesize index lost 71 points, or 2.9%, to a 10-day low of 2,385 points.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $590 to $19,777.Dalian and Singapore iron ore futur

28 Apr 2023

DSC Dredge Taps Dugan to Succeed Dolan as VP and CFO

(Photo: DSC Dredge)

Reserve, La. based DSC Dredge announced it has appointed Doy Dugan to succeed Kevin Dolan as vice president and chief financial officer.Dugan is a CPA with an MBA and brings to the role more than 30 years of global financial and operational experience working for both public and private companies. Most recently he served as CFO at Diversified Well Logging and prior to that, he held the CFO position at Advanced Drilling Solutions and Spartan Offshore. Dugan began his career at Falcon Drilling Company…

28 Mar 2023

Meet SMARCO, Cloud-based Tech, Sensors for Container Efficiency, Security

Image courtesy Meratus

Indonesian shipping company Meratus unveiled SMARCO-Smart Container, a technology that leverages advanced sensors and cloud-based tech for efficient and secure container shipping. Using IoT sensors, GPS tracking, and cloud-based technology, SMARCO is desgined to providefull visibility and control of container shipments, including real-time monitoring of movement, speed, shock, intrusion, and temperature changes.After arrival at the destination, customers receive a comprehensive report on  the shipment process.

02 Feb 2023

Silja Europe Propulsion Control Makeover Aims to Save 6% on Fuel

Silja Europe. Image courtesy Tallink

Qtagg recently secured an order on a total upgrade of Silja Europa’s propulsion control system, a makeover designed to decrease the ship’s fuel consumption by 6% and CO2 emissions by 2096 tons yearly, according to the manufacturer. The overhaul includes engine speed governors, fuel rack actuators, pitch control and voyage optimization with EcoPilot.At 59,912 gt, Silja Europa is Tallink’s largest cruise vessel. Until the summer of 2022 it operated on the Baltic Sea, between Helsinki (Finland) – Tallinn (Estonia).

11 Jan 2023

'Inadequate Lookout' Led to Collision Between Tanker and Yacht in the Caribbean

Tropic Breeze sinking by its stern about 15 minutes after the collision. (Courtesy: NTSB)

Two crews not maintaining proper lookouts led to the collision between a yacht and a tank vessel near Nassau, Bahamas, the National Transportation Safety Board said Wednesday. The collision resulted in the sinking of the tank vessel and nearly $7.9 million in damages.The motor yacht Utopia IV and tank vessel Tropic Breeze were transiting the Northeast Providence Channel on Dec. 23, 2021, when the two vessels collided. The Tropic Breeze’s engine room flooded, and the vessel eventually sank. The vessel’s seven crewmembers abandoned ship and were rescued by a Good Samaritan vessel.

05 Dec 2022

ABS Launches Maritime Software Firm ABS Wavesight

Credit: Shinonome Studio

As digitalization in the maritime sector gains speed, the American Bureau of Shipping (ABS) has launched a new maritime software as a service (SaaS) company called ABS Wavesight, to effectively consolidate all digital products under one roof, offering ship owners a one-stop-shop for it’s A-to-Z digital solutions.In an interview with Maritime Reporter's Greg Trauthwein, Paul Sells, the CEO and the president of the newly formed ABS Wavesight provided the rationale behind the ABS decision to launch the new company.He said: "...ABS has been for over 160 years…

24 Oct 2022

Markey Machinery Attracts Outside Investment to Expand

Blaine Dempke (L) and LeCoque started working with Markey as teenagers and rose through the engineering department and machine shop ranks. They took over management of the company in 1996 and bought out the Markey family in 1999.Photo courtesy Markey Machinery

Markey Machinery is a storied marine company, starting operations in 1907, when a Charles Markey, fresh from a two-year trading expedition on the Alaska and Siberian coast, launched the C.H. Markey Machinery Company serving both the marine and logging industries.Today Markey Machinery serves as a global leader in the marine deck equipment and winch industry, a position that it seeks to grow with the announcement that it closed outside investment with Christian Schiller and Brian Bogen to take the company to the next level.To its broad maritime client base…

30 Sep 2022

Baltic Dry Index Logs Best Month in Two Years

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The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose on Friday and logged its best month in 2 years propelled by a corresponding rise in capesize and panamax demand.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, snapped its four-session long streak of declines to gain 3 points to 1,760. It jumped about 82.4% for the month, its best since June 2020.However, the main index registered a second straight quarterly dip…

20 Sep 2022

Høglund to Deliver Automation Systems for Seaspan LNG Bunkering Vessels

(Image: Seaspan ULC)

Høglund Marine Solutions announced it will deliver integrated automation systems (IAS) for three newbuild liquefied natural gas (LNG) bunkering vessels being constructed at at CIMC SOE shipyard for Canadian owner Seaspan ULC.The IAS will seamlessly connect the cargo handling, control and electrical propulsion systems on each of the 7600m3 ships slated to operate along the west coast of North America.A central, and standard feature of all Høglund automation systems, is Høglund Playback.

19 Jul 2022

Capesize Dip Weighs On Baltic Dry Index

© Alexey Lesik / Adobe Stock

The Baltic Exchange's main sea freight index edged down on Tuesday as the capesize segment snapped a four-session streak of gains.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 17 points, or 0.8%, at 2,145 points.The capesize index fell by 68 points, or 2.3%, to 2,899 points.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $560 at $24,043.Chinese steel futures rose on the day, buoyed by government efforts to relieve financial distress in the country's troubled prop

11 Jul 2022

Baltic Dry Index Drops for Third Week

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The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a third straight week on Friday, as rates across vessel segments dropped.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down six points, or about 0.3%, at 2,067 points, posting a weekly fall of 6.6%The capesize index gained 65 points, or nearly 3%, at 2,270 points.Capesize rates shed about 4.7% for the week, posting their third consecutive weekly decline.Average daily earnings for capesizes, which typically transport 170,000-180,000

14 Jun 2022

'Midshipman-X' Revealed, Files Suit Against Maersk

Hope Hicks is Midshipman-X. (Photo courtesy Sanford Heisler Sharp)

A U.S. Merchant Marine Academy (USMMA) midshipman who shook the maritime industry last year when, under the moniker "Midshipman-X," publicly described how she was raped by her superior officer while serving as an engine cadet aboard a Maersk cargo ship, has been revealed as Hope Hicks.Hicks is one of two USMMA students being represented by Sanford Heisler Sharp and Maritime Legal Solutions, who said Tuesday they filed two related complaints in New York state court against Maersk Line, Limited alleging that company, a subsidiary of Danish shipping giant A.P.

13 May 2022

Capesize Strength Propels Baltic Dry Index to Fifth Straight Weekly Gain

© Eleni Mac Synodinos / Adobe Stock

The Baltic Exchange's main sea freight index slipped on Friday, but registered its fifth consecutive weekly rise bolstered by gains in the capesize vessel segment.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 13 points, or 0.4%, at 3,104 points on Friday. It was up 14.2% this week.The capesize index fell 18 points, or about 0.5%, at 3,947 points, but rose 36.4%, also logging its fifth consecutive weekly gain.Average daily earnings for capesizes…

10 Mar 2022

Chris-Marine Launches Shaft Power Limitation Solution for EEXI Compliance

(Image: Chris-Marine)

Chris-Marine announced the launch of its ShaPoLi solution aiming to help customers comply with the EEXI regulations and monitor and optimize their ship CII ratings.From January 2023, the revised MARPOL Annex VI will enter into force and all existing ships of 400 GT and above must comply with the new EEXI requirements. This means that shipowners must decide on and implement a viable energy efficiency solution to act in accordance with the new regulations.To help its customers adhere to the new energy efficiency requirements…

01 Mar 2022

Offshore Energy: Are Decommissioning Costs set to Spiral?

Supply chain innovation: Allseas’ Pioneering Spirit is currently having its 20,000-tonne capacity jacket lifting system installed. Load tests took place in late January. The first commercial project is due in April. The jacket lift system means that no barges are needed. Pioneering Spirit will be able to lift large jackets from the seabed in one piece, tilt them on deck and transport them to shore for dismantling. The illustrations show how the system will work. Image courtesy Allseas

As offshore market activity recovers and continues to increase through the next decade, as we expect it to, oilfield service (OFS) capacity is expected to tighten.As offshore market activity recovers and continues to increase through the next decade, as NorthStone Advisors expect it to, oilfield service (OFS) capacity is expected to tighten. In NorthStone Advisors’ view, this will create a period of increased scarcity and cost inflation, presenting significant cost and schedule risk to decommissioning programs.Many eyes are on the UK…

09 Feb 2022

Stevedoring Company Fined for Dropping Excavator Overboard

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A stevedoring company based in Tauranga, New Zealand has been ordered to pay a $90,000 fine and $20,000 in costs for safety failings that led to an excavator being dropped overboard from a logging ship in 2018.C3 Limited had previously pleaded guilty to a charge of breaching its duties under the Health and Safety at Work Act 2015 and was sentenced February 4 in the Wellington District Court.Maritime NZ’s central compliance manager, Blair Simmons, said that the incident, which took place at Wellington’s Centreport on June 2…

10 Dec 2021

Party Cruise Spreads Omicron in Australia

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COVID-19 infections have been spreading in pubs and clubs in Australia's biggest city, including three new cases of the Omicron variant found among people who went on a harbor party cruise, sending officials rushing to trace contacts.Authorities have been easing restrictions in Sydney since early October when the city emerged from a nearly four-month lockdown to contain the Delta coronavirus variant after the population reached higher vaccination levels."We have seen recently increased transmission in larger social venues ...

15 Jul 2021

Interview: Ben Reed, Managing Director, HamiltonJet

Ben Reed (Photo: HamiltonJet)

Ben Reed is a mechanical engineer from the U.K. now leading New Zealand-based waterjet manufacturer HamiltonJet as managing director.Raised in Shropshire, Reed graduated from Loughborough University of Technology in 1995 and later became a Chartered Engineer and Fellow of the Institute of Mechanical Engineering. He’s worked for a U.K. gas utility company developing natural-gas-powered engines; Ford Motor Company as a Systems Analyst, and 17 years for Caterpillar UK in diesel engine and transmission development for off-highway machinery and military products…

15 Jul 2021

OCIMF Replacing SIRE Tanker Inspection Program

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The Oil Companies International Marine Forum (OCIMF) is currently developing an updated and enhanced version of its Ship Inspection Report Program (SIRE) tanker risk assessment tool, the ship inspection regime that has become central to supporting safety and best practice in the marine industry. The new regime, SIRE 2.0, will replace the current system from Q2 2022, delivering a more comprehensive inspection regime with enhanced tools, strengthened governance processes and more in-depth reporting outcomes…

14 Jul 2021

Connectivity Key to Seafarer Welfare, Inmarsat Sponsored Report says

Inmarsat sponsored a new report which explores the future of seafaring to 2050, a report that offers not just insights on connectivity, rather recommendations on how shipping, training institutions and welfare services can respond to the changing needs of tomorrow’s seafarers.Dubbed ‘A fair future for seafarers?’, the report was prepared by maritime consultancy Thetius. While published as the world still struggles with the impact of COVID-19, the report suggests epidemics and pandemics may become more common…

21 Jun 2021

NSML Taps Into Draft and Trim Optimization Data

(Photo: Kongsberg Maritime)

NLNG Ship Management Limited (NSML) signed a contract with Kongsberg Maritime to deliver Shell’s patented JAWS (Just Add Water System) draft and trim optimization software across the entire NSML fleet of 11 liquefied natural gas (LNG) carriers. JAWS will be distributed using Kongsberg Maritime’s K-IMS digital solution – a portfolio of specialized applications to support complex operations – making K-IMS and JAWS a core element of NSML’s digitalization and cyber security strategies.The JAWS software uses historic…