Strategic Marine Delivers Crewboat for Truth Maritime Services
Singaporean aluminum boat builder Strategic Marine recently delivered TMS Ranod, the first of two Gen 4 Fast Crew Boats to growing Thai offshore services provider Truth Maritime Services (TMS). The pair of newbuild contracts were signed in 2023.Strategic Marine launched the 42m Gen 4 FCB design in collaboration with Southerly Designs, and the vessel comes with a highly efficient new hull form and Z-bow which improves seakeeping and requires less power for the same speed and deadweight tonnage…
Russia Oil Fleet Shifts Away from Liberia, Marshall Island Flags Amid US Sanctions Crackdown
Dozens of oil tankers used by Russia have stopped sailing under the Liberian and Marshall Islands flags in recent weeks after the United States ramped up sanctions enforcement on ships linked to those registries, according to shipping data and interviews with industry and government officials.The shift reflects the close relationship between the U.S. and the flag administration companies of Liberia and the Marshall Islands, which are headquartered not in their home countries, but in Virginia, just miles from Washington D.C. and within the jurisdiction of U.S.
Singapore Highlights its Maritime Achievements for 2023
The Singapore government has recounted the achievements of Maritime Singapore to date to highlight the nation’s successes as a maritime hub in 2023:Total business spending by key maritime companies overseen by MPA exceeded S$4.8 billion, up from S$4.3 billion in 2022. Twenty-five maritime companies established or expanded their operations in Singapore last year. These included maritime services companies and companies setting up sustainability desks in Singapore as part of their…
US Imposes Sanctions on Russia's Leading Tanker Group Sovcomflot
The U.S. Treasury said on Fridayit has imposed sanctions on Russia's leading tanker group Sovcomflot FLOT.MM, as Washington seeks to reduce Russia's revenues from oil sales that it can use to support its invasion of Ukraine.The Treasury Department's Office of Foreign Asset Control also designated 14 crude oil tankers vessels as property in which Sovcomflot has an interest. It issued a general license allowing the offloading of crude oil, or other cargoes, from the vessels for 45 days."Sovcomflot as a whole…
Russian Oil Flows Through Red Sea Face Lower Risks
Tankers carrying Russian oil have continued sailing through the Red Sea largely uninterrupted by Houthi attacks on shipping and face lower risks than competitors, according to shipping executives, analysts and flows data.Russia has become more dependent on trade through the Suez Canal and the Red Sea since it invaded Ukraine, which led to Europe imposing sanctions on Russian imports and forced Moscow to export most of its crude to China and India. Before the war, Russia exported…
Suez Canal Authority Carries Out Repairs to Missile-hit Vessel
Egypt's Suez Canal Authority said on Monday it had conducted repair work on a missile-hit Greek dry-bulk carrier, highlighting its readiness to restore damaged ships passing through the Red Sea.The Malta-flagged, Greek-owned vessel Zografia had berthed at a floating dock of the authority-affiliated Suez Shipyard Company for repairs after the ship's hull and some components sustained external and internal damage in a Jan. 16 attack by Yemeni Houthi forces.The vessel was sailing…
2023 a Record Setting Year for Singapore
Chee Hong Tat, Singapore’s Acting Minister for Transport, announced a record year in 2023 at a Singapore Maritime Foundation New Year Conversations event.The annual vessel arrival tonnage in the Port of Singapore crossed three billion gross tonnage (GT) for the first time, increasing by 9.4% over 2022 and setting a high of 3.09 billion GT in 2023. This reflects growth in all segments, including container ships, dry bulk carriers, liquid bulk and chemical tankers, ferries and specialised vessels…
Russia Oil Price Cap Coalition Toughens Shipping Rules
The U.S.-led coalition imposing a price cap on seaborne Russian oil announced changes on Wednesday to its compliance regime the Treasury Department said will make it harder for Russian exporters to bypass the cap.The Treasury also imposed fresh sanctions on a ship manager owned by the Russian government and three oil traders involved in Russian oil trade.The Group of Seven (G7) industrialized countries last year imposed a price cap of $60 per barrel on Russian oil shipments in…
Curtin Maritime Names Vicky Ellis SVP of People Management
Maritime services provider Curtin Maritime announced it has appointed Vicky Ellis as its new Senior Vice President of People Management. Ellis will play a pivotal part in Curtin Maritime’s ongoing efforts to attract, retain and train top talent within the industry.Ellis brings a wealth of experience to Curtin Maritime, having previously served as the Director of Learning and Development at Crowley, a position in which she made significant contributions to the company’s workforce development and training programs.“We are so excited to welcome Vicky to the Curtin Maritime family…
US Sanctions Maritime Companies, Vessels for Shipping Oil Above Russian Price Cap
The U.S. on Thursday imposed sanctions on maritime companies and vessels for shipping Russian oil sold above the G7's price cap, as Washington seeks to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine.The U.S. Treasury Department in a statement said it slapped sanctions on three United Arab Emirates-based companies and three vessels owned by them in the action, accusing the vessels of engaging in the export of Russian crude oil priced above the $60 a barrel cap.
Ponant Enhances Connectivity on Luxury Icebreaker
Digital solutions company Marlink has partnered with LEO internet operator Eutelsat OneWeb to provide digital connectivity solutions to cruise company Ponant.Ponant will deploy the Eutelsat OneWeb service on its polar exploration icebreaker Le Commandant Charcot, providing guests and crew with high throughput and low latency internet access across the vessel’s itinerary.Leveraging Marlink’s expertise in smart hybrid networks, the bandwidth delivered by Eutelsat OneWeb will enable Ponant’s seamless collaboration between the ship’s bridge, engineering crew and shore teams.
Inchcape Acquires Full Ownership of ISS-McKay
Inchcape Shipping Services has acquired McKay Shipping Limited's share of ISS-McKay Limited, giving it full full ownership ownership of the joint venture that was set up in 2008to conduct core port agency business in New Zealand.ISS-McKay provides full coverage to the North and South Island of New Zealand through its network of eight port offices and 41 local staff, with market shares in cruise, dry bulk, tanker, liner and ship manager markets.As part of the joint venture, Inchcape Shipping Services established itself as the majority shareholder…
Damen Completes ASD Tug Trio Delivery to Polish Client
Dutch shipbuilder Damen Shipyards has recently delivered three ASD Tugs to Poland’s WUZ Ports and Maritime Services.“On the 19th of October, the flag raising ceremony for three new ASD Tugs took place in Gdansk, Poland. In the presence of a large group of Polish and international associates and company employees, the new tugs were welcomed into the fleet. This followed the christening ceremony of the second ASD Tug 2811 that took place in September in Rotterdam. Named Pax (in Latin "Peace”)…
World's Ghost Fleet in Focus Over US Russian Price Cap Crackdown
U.S. penalties on shippers transporting Russian oil in breach of the G7's price cap could push more Russian cargoes onto vessels referred to as the ghost fleet and away from mainstream tankers, shipping sources and analysts told Reuters.The cap bans Western companies from providing maritime services for Russian seaborne oil exports sold above $60 a barrel.It was designed to keep oil flowing to markets while reducing Russia's energy earnings that it can use to finance its war on Ukraine…
Columbia Group Launches Female Cadet Mentoring Program
Aiming to attract more women into the maritime sector, ship management and maritime services company Columbia Group has launched a mentoring program aimed at female cadets.“We need to change the culture in the industry surrounding women and make it more viable for them to have a career in maritime, so that we can attract and widen the pool of talent that we draw from,” said program leader Claudia Paschkewitz, Columbia Group’s Managing Director of Sustainability, Diversity & Inclusion.“We…
US Sanctions Two Tanker Owners for Carrying Russian Oil Above Price Cap
The U.S. on Thursday imposed the first sanctions on owners of tankers carrying Russian oil above the G7 price cap of $60 a barrel, one based in Turkey and one in the United Arab Emirates, in an effort to close loopholes on the mechanism designed to punish Moscow for the war in Ukraine.The U.S., other G7 countries and Australia imposed the cap last year, seeking to reduce Russia's revenues from seaborne oil exports as part of sanctions for its invasion of Ukraine.The cap bans Western companies from providing maritime services, including insurance, finance and shipping, for Russian seaborne oil exports sold above $60 a barrel, while seeking to keep oil flowing to markets. Caps also were imposed on Russian fuel exports.U.S.
MarTrust Appoints New CEO
The Marcura Group Board has announced Stuart Gregory is taking the helm as CEO of MarTrust.MarTrust is set to undergo a renewed phase of development and expansion, the company said. Over the past years, under the leadership of Domenico Carlucci and with the support of the Marcura Board, MarTrust has become a prominent fintech entity, managing over $12 billion in payments annually.Gregory brings a wealth of fintech expertise, having been instrumental in building and scaling Wise Business through to its successful public listing in London.
Thyssenkrupp, Wilhelmsen Create 3D Printing Firm of Maritime & Offshore Sectors
Wilhelmsen and Thyssenkrupp announced on September 29 their joint venture company, Pelagus 3D, marking the entry of a new player into global maritime and offshore services market."Pelagus 3D envisions to be the largest one-stop, on-demand digital manufacturing partner for the maritime and offshore industries. It uses Additive Manufacturing (AM) or 3D printing to deliver maritime spare parts more efficiently in terms of time and cost, allowing customers to ensure their vessels’ seaworthiness and keep their operations moving on schedule…
ABS, Crowley Advance Augmented Reality Technology
U.S. shipping company Crowley and classification society ABS have entered an agreement to jointly explore how to advance the use of augmented and virtual reality technologies for vessels and other marine environments.The ABS partnership agreement builds on Crowley’s new service network using augmented reality on select vessels. Crew wear goggle technology to provide real-time visuals of ship equipment to remote technicians to collaborate on solutions. The technology, developed by Kognitiv Spark…
Singapore Reigns Supreme in International Shipping Center Development Index
For the 10th year in a row, Singapore ranks first in the Xinhua-Baltic International Shipping Center Development Index (ISCDI) Report.Published jointly by the Chinese state news agency, Xinhua and global maritime data provider Baltic Exchange, the report lists Singapore as the global leading maritime center, followed by London and Shanghai.The island nation scored 95.32 out of a possible 100 points, while London scored 83.35 points and Shanghai took third place with 81.58 points.Singapore has held the top position since the index began a decade ago.
Fowler Appointed to Lead Crowley Shipping
Crowley has appointed James Fowler as senior vice president and general manager of its Crowley Shipping business unit that serves U.S. and international maritime and logistics sectors.Fowler most recently served as managing director of marine and stevedoring operations for Cooper Marine and executive vice president for Blakeley BoatWorks, both headquartered in Mobile, Ala.“As Crowley advances its next generation of maritime services, James Fowler is ideally suited to bring the vision and leadership to help our customers…
Global Transport Solutions Acquires Ship Spare Logistics
Global Transport Solutions (GTS), a logistics service provider specialized in supply chain solutions for the maritime industry (through the brand Marinetrans), has acquired Ship Spares Logistics (SSL) (formerly part of Burando Maritime Services), a marine logistics specialist providing barge deliveries, warehouse consolidation and freight forwarding services. The combination of the two companies will elevate service offerings in marine spare parts logistics, creating a synergy that leverages the combined strengths…
Offshore Wind: US Shipbuilders Answering the Call
It’s a big deal when a U.S. president visits an American shipyard, and these trips always send a message. When President Obama spoke at HII’s Newport News Shipbuilding in 2013, he warned of the consequences of sequestration. President Trump’s 2020 speech at Fincantieri Marinette Marine touted a $5.5 billion naval contract that gave a welcome boost to the Wisconsin shipyard and its supply chain partners. Most recently, President Biden traveled to Philadelphia’s Philly Shipyard…