Carnival Raises Profit Forecast on Record Cruise Demand
Carnival Corp raised its annual profit forecast on Wednesday, anticipating a record year of bookings as the company benefits from a rise in people seeking cruise vacations for the first time.Cruise operators are recording all-time high booking rates as more travelers switch to cheaper sea-borne experiences over expensive land-based alternatives such as booking hotels or flights, providing them more room to raise prices.U.S.-listed shares of the company were flat in volatile trading.
Insights: Cherrie Felder, VP, Channel Shipyard Companies
For Cheryl āCherrieā Felder, the path to the maritime industry was both untraditional and seemingly meant to be. After studying African art, she began her career working in a museum in New Orleans before landing a role directing professional rodeo in the Big Easy.āIt was a lot of fun, and I learned a whole lot,ā Felder said. āBut as you may imagine, New Orleans is not a rodeo town. After the third year, the board of directors decided, okay, that's it. No more rodeo.āAnd thatās when Felderās doorway to the maritime industry swung openā¦
Lawsuits Over Baltimore Bridge Collapse Likely
The owner, operator and charterer of the container ship that struck Baltimoreās Francis Scott Key Bridge on Tuesday are likely to face lawsuits over its collapse and the people killed or injured, but legal experts say U.S. maritime law could limit the companiesā liability.U.S. laws pertaining to open-water navigation and shipping, which are created through court decisions and by acts of Congress, could restrict the kinds of lawsuits filed against the registered owner of the Singapore-flagged shipā¦
Austal Vietnam to Build RoPax Vessel for The Degage Group
Austal Limited announced Austal Vietnam has been awarded a contract to design and construct a 71-meter roll-on-roll-off (RORO) passenger cargo vessel for The Degage Group of French Polynesia.The new steel monohull ferry design includes an aluminium superstructure accommodating up to 140 seated passengers and 17 crew, and features a main cargo deck area of 494 square meters; capable of transporting a combination of 10- and 20-foot containers, palletized cargo and vehicles.With a cruising speed of 12 knots and a range of 1ā¦
OCIMF Updates Drug and Alcohol Guidelines
The Oil Companies International Marine Forum (OCIMF) has published an updated information paper, Guidelines for the Control of Drugs and Alcohol in the Maritime Industry (2024).The paper aims to provide general guidance and recommendations for the maritime industry (operators of tankers, barges, offshore vessels and terminals associated with the ship-shore interface) in developing and implementing controls for the use of drugs and alcohol.In the guidelines, drug and alcohol use includes the use of prescribed and over-the-counter medicationā¦
Demopolis: A Cautionary Tale for Increased Infrastructure Investment
Demopolis Lockāwhich suffered a recent catastrophic failureāis a cautionary tale for other locks and those in Congress and the White House who may fail to see the urgency and importance of investing in the inland waterways system.The nationās inland waterways lock and dam infrastructure, largely constructed in the 1930s, has seen modernization and rehabilitation across the system, albeit very slowly. Despite those efforts, lock failures continue, and the risk of failure persists.Whileā¦
St. Lawrence Seaway Opens Navigation Season
The St. Lawrence Seaway opened its 66th season of operation today with an official ceremony in Niagara Region.Terence Bowles, President and CEO of the St. Lawrence Seaway Management Corporation (SLSMC) was joined by U.S. Great Lakes St. Lawrence Development Corporation Administrator Adam Tindall-Schlicht in welcoming the many who came out for the event, including M.P. Vance Badawey, Parliamentary Secretary to the Canadian Minister of Transport.āWe are thrilled to have a renewed Management Operations and Maintenance Agreement with the Government of Canada.
Red Sea Attacks Temporarily Increase Demand for Ships
The BIMCO Container Shipping Market Overview & Outlook for March 2024 has been published, and Niels Rasmussen, BIMCOās Chief Shipping Analyst, highlights that ship supply is expected to grow on average 9.1% in 2024 and 4.1% in 2025.Rerouting via Cape of Good Hope is assumed to impact the first half of 2024. Ship demand increases an estimated 9.5% in 2024 and falls 0.5% in 2025. The supply/demand balance is expected to tighten in the first half of 2024 but then weaken when ships can return to the Suez Canal routing.According to the IMFā¦
Report: Sustainable Shipping Fuels Can Reach Cost Parity by 2035
Sustainable shipping fuels could reach cost parity with fossil fuels as early as 2035 with the help of decisive emissions policy such as carbon taxes and emissions limits, according to a new report launched by Wärtsilä.The report, titled āSustainable fuels for shipping by 2050 ā the 3 key elements of successā, states that the EU Emissions Trading Scheme (ETS) and FuelEU Maritime Initiative will see the cost of using fossil fuels more than double by 2030. By 2035, they will close the price gap between fossil fuels and sustainable fuels for the very first time.Existing decarbonisation solutionsā¦
RightShip Launches New Initiative to Support Adoption of Zero-Harm Maritime Tech
RightShip, an ESG-focused digital maritime platform, has launched Zero Harm Innovation Partners program aimed at supporting the development and adoption of technologies dedicated to achieving a zero-harm maritime industry.According to RightShip, zero-harm maritime industry can be achieved by enabling enhanced collaboration and connection between shipowners and managers, and innovative technology providers.The program invites technology providers and innovators to showcase products on RightShipās platform that contribute towards enabling a zero-harm maritime industry.Besides tractionā¦
Shipping Companies Turn to Longer-Term Leases as Tanker Supply Tightens
Rising oil tanker chartering rates due to global shipping disruption are forcing oil shippers to take on longer-term shipping charters, executives said this week at an energy conference in Houston.The global oil tanker fleet must now travel further to get crude to refineries and fuel to consumers. European sanctions have forced Russian exporters to send oil to Asia that would have otherwise gone to Europe. Attacks on vessels in the Red Sea have forced some shippers to sail aroundā¦
Vestdavit Hits New Sales Record as Orders Increase 76% From Last Year
Norwegian davit supplier Vestdavit has notched up a new annual sales record for another consecutive year after seeing its order intake surge by 76% in 2023 on high demand from the offshore wind and oil and gas sectors, as well as increased sales in its core naval market.Vestdavit has expanded its market position in offshore wind after both gaining new customers and winning repeat orders with existing clients, including Esvagt and Rem Offshore, with orders in this sector accounting for more than $9.4 million (NOK 100 million)ā¦
Securing Our Ports: Where to Start
As dusk descends upon our nation's ports, casting shadows over the waterfront, another shadow looms in the digital landscape ā the threat of cyber warfare. In an era where connectivity reigns supreme, our maritime infrastructure stands at a critical juncture, balancing vulnerability and resilience. The recent White House announcement of a Presidential Executive Order, and a hefty $20 billion in Inflation Reduction Act funding proposal to fortify our ports, underscores the gravity of the situation.It is a fact that at this time China has manufactured 80% of our nationās ship-to-shore cranesā¦
Hapag-Lloyd to Seek Cost Cuts After Net Profit Slump
German container shipper Hapag-Lloyd said on Thursday the global oversupply of container ships and a crisis in the Red Sea will force it to cut costs in 2024, adapting sailings and ports following a bruising 83% fall in net profit.Ship operators face prolonged disruption while Yemen-based Houthi militants are attacking vessels travelling on one of the world's busiest routes, wiping out the benefit from higher freight rates with costly redirections around Africa.Hapag-Lloyd's problems chime with those of competitors such as Maersk and CMA CGM, exacerbated by the arrival of additional ships orde
PPG Unveils New āUltra Low-Frictionā Vessels Coating
PPG has launched the PPG NEXEON 810 coating, described as an innovative copper-free antifouling coating developed with a strong emphasis on vessel performance, emissions reduction and sustainability.Independent tests, following ISO 19030 and International Towing Tank Conference standards, have confirmed that the ultrasmooth surface of PPG Nexeon 810 coating can yield an immediate boost in power of up to 10% and enhance operational efficiency by up to 15%, according to PPG.This is due to improved fouling control performanceā¦
Wärtsilä Inks Lifecycle Agreement with P&O Ferries for Two Vessels
Technology group Wärtsilä has signed a Lifecycle Agreement with UK-based P&O Ferries for two of its vessels ā the M/V Pioneer and the M/V Liberté.The scope of the five-year agreement the Lifecycle Agreement with P&O Ferries includes parts and maintenance services, as well as maintenance planning, operational support and Wärtsiläās Expert Insight predictive maintenance service.The predictive service enables issues to be identified before they cause a delay in the schedule. Delaysā¦
Ships Above 12,000 TEU Drive 100% Increase in Average Ship Size
Since 2006, the average container ship has doubled in size to 4,580 TEU and ships with a capacity of more than 12,000 TEU has accounted for 51% of the fleetās capacity expansion. Today, just 626 ships provide 36% of the fleetās capacity, and the trend is set to continue as the large ships dominate the order book, says Niels Rasmussen, Chief Shipping Analyst at BIMCO.When the Emma Maersk was delivered in August 2006, the ship was by far the largest container ship in the world. It is 400 metres long, 56 metres wide and has a capacity of about 17,800 (14,000 TEU when delivered).
Danish Shipping Adopts Policy on Underwater Radiated Noise
Commercial shipping is one of the main contributors to underwater radiated noise, which has adverse effects on a wide range of marine life, including whales and fish. Therefore, Danish Shipping has recommended its members follow a new set of IMO guidelines aiming to reduce underwater radiated noise and preserve marine biodiversity.The IMO guidelines provide an overview of approaches applicable to designers, shipbuilders, and ship operators to reduce the underwater radiated noise of any given ship.
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 scaleā¦
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 16ā TZT16X, 22ā TZT22X, and 24ā 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.
Sanmar Launches First Emissions-Free ElectRA Tug for Its Own Fleet
Turkish shipbuilder Sanmar has launched electric battery-powered ElectRA tug for its own fleet, which will provide towage, ship assistance and escorting services at six ports around Turkiye.ElectRA will be the seventh electric battery tug delivered from Sanmar Shipyards within a year, five of which are already operating in Vancouver in Canada, while the sixth is currently being delivered to Norway.Based on the ElectRA 2300SX design from Canadian naval architects Robert Allan Ltdā¦
Coast Guard Will Not Enforce New California Rule, Citing 'Safety Concerns'
(The Center Square) - The U.S. Coast Guard says it āwill not enforceā a new California Air Resources Board regulation, citing āsafety concerns.āThe Coast Guard and business organizations oppose CARB's requirement that commercial harbor craft install diesel particulate filters (DPF) linked to a number of fires. Seventeen states are suing the Environmental Protection Agency for giving an exemption to California alone to enact its own air standards that, by power of its market sizeā¦
Esgian Week 10 Report: Additional Backlog Secured
Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte dāIvoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drillingās 250-ft jackup Rig 141 has secured a two-yearā¦