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Thursday, March 28, 2024
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Programme News

18 Mar 2024

Houthi Attacks Must Ease for Salvage of Two Vessels, IMO Head Says

On March 2 at approximately 2:15 a.m. (Sanaa time), Rubymar, a Belize-flagged, UK-owned bulk carrier, sank in the Red Sea after being struck by an Iranian-backed Houthi anti-ship ballistic missile on Feb. 18. The ship had been slowly taking on water since the attack. (Photo: U.S. Central Command)

Efforts to limit environmental damage from a cargo vessel that sank after a Houthi missile strike and another abandoned during a fiery assault are on hold until attacks on ships ease, the United Nations' maritime shipping regulatory agency said on Monday.The UK-owned Rubymar last month became the first vessel lost since the Houthis began targeting commercial ships in the Red Sea area in November. The bulk carrier with 21,000 metric tons of fertiliser contained in its cargo holdā€¦

05 Mar 2024

Singapore Highlights its Maritime Achievements for 2023

Ā© anekoho / Adobe Stock

The Singapore government has recounted the achievements of Maritime Singapore to date to highlight the nationā€™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 theirā€¦

01 Mar 2024

Ukraine Expands Ship War Insurance with Marsh & Lloyd's to Iron Ore, Steel

Ā© glebzter / Adobe Stock

Insurance broker Marsh and Lloyd's of London underwriters have expanded a marine war insurance program backed by Ukraine from grain shipments to all non-military cargo, such as iron ore and steel, Marsh said on Friday.Marsh, Lloyd's and Ukrainian state banks launched an initial program in November to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, following Russia's invasion of Ukraine two years ago."Expanding insurance to cover ships carrying all non-military cargo is extremely important for Ukraineā€¦

08 Feb 2024

Maersk Warns Oversupply to Hit Profits

Ā© Fotokon / Adobe Stock

Maersk warned on Thursday that container shipping overcapacity would hit profits more than expected this year and that it didn't see a major boost from the jump in freight rates due to Red Sea disruptions, hammering its shares.The warning, which also led the Danish shipping giant to suspend its share buyback programme, is in stark contrast with investors' recent optimism about the sector.Container shipping companies have been among the best-performing stocks in Europe this yearā€¦

30 Jan 2024

Goodchild to Build Pilot Vessel for the Port of London

(Image: Port of London Authority)

The Port of London Authority (PLA) has signed a contract with British family-run company, Goodchild Marine Services Ltd, to build a new pilot vessel.PLAā€™s Director of Marine Operations, Steven Clapperton, said, ā€œGoodchild has proven over many years that they are at the leading edge of vessel design and build. This new vessel is designed specifically for our current and future operational needs, and will incorporate the latest in technology, reducing fuel consumption, minimising environmental impactsā€¦

23 Jan 2024

Singapore Registry of Ships Reaches 100 Million Gross Tonnage

Source: MPA

The Singapore Registry of Ships (SRS) surpassed the 100 million gross tonnage (GT) milestone, with the registration of AETā€™s Very Large Crude Carrier (VLCC), Eagle Veracruz, on January 23, 2024.SRS is administered by the Maritime and Port Authority of Singapore (MPA). Established in 1966 and administering about 4,000 vessels aggregating over 100 million gross tonnage, the SRS is among the worldā€™s largest ship registries with one of the youngest quality fleets.Eagle Veracruz, is a dual-fuelled LNG VLCC named after the Mexican state of Veracruz where one of the oldest ports in Mexico is locatedā€¦

14 Jan 2024

2023 a Record Setting Year for Singapore

Source: Government of Singapore

Chee Hong Tat, Singaporeā€™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 vesselsā€¦

11 Jan 2024

Shipping Attacks Push US and Allies to Mideast Crunch Point

Ā© Vladimir Bartel / Adobe Stock

When the United States and 11 allies published a joint statement last week calling for an end to Houthi attacks from Yemen on Red Sea shipping, they hoped the implicit threat of force might at least reduce the intensity of fire on foreign vessels.Instead, Wednesday saw the largest single attack yet on foreign vessels, according to Western defence officials, launched seven days after the joint statement. It appeared a clear attempt to call the West's bluff, just as other tensions across the Middle East appear to be on the rise.In Iraq and Syria, U.S.

18 Dec 2023

Time is Running Out for some Fi-Fi Foams

Image courtesy Scanunit.

A new IMO resolution will see the phase-out of foam firefighting systems that use fluorinated foams containing perfluoro-octane sulfonic acid (PFOS) as the foam-producing component. The new rules come into effect under a rolling programme beginning in 2026, but Swedish maritime engineering specialist Scanunit believes that a proactive replacement strategy should be put into effect now.Foam firefighting systems on ships typically make use of a family of synthetic chemical compounds known as perfluoroalkyl and polyfluoroalkyl substances (PFAS).

17 Dec 2023

Esgian: Rigs on the Move in Asia and Europe

Source: OMV

This week Esgianā€™s Week 50 Rig Analytics Market Roundup notes developments in the semisub sector including that Shell has decided to exercise its option on Stena Don in the North Sea but not on Deepsea Bollsta in Namibia. Meanwhile, a new contract for the Transocean Barents will see it operate in the Black Sea, and jackup Shelf Drilling Perseverance will move to Vietnam.ContractsShelf Drilling has secured a contract award for the 400ft Shelf Drilling Perseverance jackup rig with PetroVietnam Domestic Exploration Production Operating Company Limited (PVEP POC).

07 Dec 2023

ABB Supplies Charging System for Aucklandā€™s New Electric Ferries

(Image: EV Maritime Auckland Transport)

ABB has secured a contract with Auckland Transport (AT) to deliver the maritime worldā€™s first megawatt charging system (MCS) to recharge electric ferries using the same interface as trucks and airplanes. Lowering the barrier to entry, the standardized and highly adaptable system is expected to improve electric vessel competitiveness against fossil-fueled counterparts.As part of its Mission Electric initiative, AT has ordered two 200-seat all-electric ferries and two 300-passengerā€¦

07 Dec 2023

DEME, FARIA to Explore Offshore Wind Farms in Greece

Copyright adobedesigner/AdobeStock

DEME and Greek renewable energy developer and independent power producer FARIA Renewables have signed a cooperation agreement to explore opportunities and co-develop offshore wind farms in Greece. Offshore wind technology is viewed as crucial for achieving global goals towards zero emissions. In support of these goals, the Greek government recently announced the draft ā€˜National Offshore Wind Farms Development Programā€™ which is overseen by the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA).

05 Dec 2023

Seatrium Names Adrian Teng CFO

(File photo: Seatrium)

Singaporean shipbuilding group Seatrium announced it has appointed Adrian Teng as Chief Financial Officer (CFO), effective January 1, 2024.Teng brings over two decades of diverse international experience in strategy, finance, restructuring, operations and corporate management across developed and emerging markets. Prior to his current appointment, Teng was Group Chief Financial Officer and Chief Operating Officer of Clifford Capital Holdings, with responsibilities in finance, treasuryā€¦

27 Nov 2023

Green Instruments Secures Shipyard Deal for Fire Detection Equipment

Source: Green Instruments

Danish company Green Instruments has entered a major agreement with Hudong-Zhonghua Shipbuilding for the delivery of equipment that detects oil mist and vapor on ships and triggers an alarm before fires can develop and endanger the crew, ship, equipment, and environment.The shipyard now installs Green Instrumentsā€™ equipment on every new vessel built.Oil mist is formed by oil droplets floating in the air and can ignite at low temperatures. Green Instrumentsā€™ oil mist detector is designed to register the slightest traces of oil mist and vapor from hydraulic oils and bunker fuelā€¦

26 Nov 2023

Portuguese Navy Signs Contract with Damen Shipyards

Source: Damen

The Portuguese Navy has contracted Damen Shipyards Group for the design, construction and outfitting of a multi-purpose vessel.The contract was signed by Director of Ships Rear Admiral Jorge Pires and Damen Shipyards Group CCO Jan Wim Dekker. The project follows a European tender process and is funded by the European Unionā€™s Recovery and Resilience Facility (RRF) that is part of NextGenerationEU (the economic recovery package to support EU member states affected by the COVID-19ā€¦

20 Nov 2023

Pakistan Takes Next Step Towards Hong Kong Convention Ratification

Source: IMO

Pakistan is a step closer to becoming a party to the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009 (Hong Kong Convention).Following an IMO-run national seminar in Karachi, Pakistan, (November 13-15) to support the countryā€™s implementation of the Convention and related guidelines, the Pakistan (Federal) Cabinet completed the processes needed to prepare the instrument of accession to the convention.The seminar was hosted by Pakistan's Ministry of Maritime Affairs.

19 Nov 2023

IMRF Launches #SAFERSAR Initiative

Source: IMRF

The International Maritime Rescue Federation (IMRF) has launched its #SaferSAR initiative which will look to enable global search and rescue (SAR) organisations to better collect, analyse and share maritime SAR incident response data.The aim is to enhance future maritime SAR response operations.The initiative, which is being funded by Lloydā€™s Register Foundation, will encompass a 12-month feasibility study for a globally accessible platform that SAR personnel and organisations can use to share lessons and best practices identified in SAR responseā€¦

15 Nov 2023

Marsh, Lloyd's, Ukraine Launch War Risk Ship Insurance to Cut Grain Costs

Ā© glebzter / Adobe Stock

Insurance broker Marsh MMC.N, Lloyd's of London insurers and Ukrainian state banks have launched a programme to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, Marsh said on Wednesday.Kyiv launched a "humanitarian corridor" in August for ships bound for Africa and Asia to circumvent a de facto blockade in the Black Sea after Russia quit a United Nations-brokered deal that had guaranteed Kyiv's seaborne exports during the war.Lloyd's of London insurers will underwrite the programmeā€¦

10 Nov 2023

Babcock Signs $916M Submarine Infrastructure Deal with UK Defense Ministry

Credit: Babcock

Defense contractor Babcock has signed a four-year £750 million (~$916 million) contract with the UK Ministry of Defenceā€™s (MOD) Submarine Delivery Agency (SDA), to deliver the infrastructure required to support and sustain the UKā€™s submarines for decades to come.As part of the major infrastructure program underway at the Devonport site, Babcock said it would deliver substantial upgrades to existing infrastructure that will support the future capability of the Royal Navy and theā€¦

20 Oct 2023

Strait of Hormuz: The World's Most Important Oil Artery

Ā© Lotharingia / Adobe Stock

The Israel-Hamas war has raised the spectre of a wider regional conflict which could embroil Iran and other regional factions.Analysts and market observers say the conflict could prompt the United States to tighten sanctions on Iran, which may spur Tehran to take retaliatory action against ships in the Strait in Hormuz.The Marshall Islands registry, one of the world's top shipping flags, last week flagged that vessels with links to Israel or the United States may face a heightened threat of attack within Israeli territorial watersā€¦

17 Oct 2023

All-electric Waterways Clean-up Vessel Launched in the UK

(Photo: MMS Workboats)

MMS Workboats, a division of U.K.-based MMS Ship Repair & Dry Dock Co Ltd. (MMS), has launched a cutting-edge plastic and debris collection vessel: the Envirocat All-Electric Eco 8.5.Designed to make waterways cleaner and support sustainable industries such as fish farming and aquaculture, the 8.5 meter vessel can be operated by a single user, enabling efficient, cost effective and environmentally friendly clearance of plastic and flotsam from the waterā€™s surface.The vessel, developed in conjunction with naval architecture firm Rockabill Marine Designā€¦

11 Oct 2023

Moby Selects Kongsberg Maritime for Ro-Ro Propulsion Upgrade

Source: Kongsberg Maritime courtesy of Moby

Kongsberg Maritime has won a contract to upgrade the propulsion systems on five ro-ro passenger ferries for Italian operator Moby. The vessel upgrades will together reduce CO2 emissions by more than 30,000 tons per year.Moby operates a fleet of ro-ro passenger ferries, operating in the western Mediterranean, including routes between the Italian mainland, Sicily, and Sardinia.Three of the ships, the Moby Vinci, the Sharden, and the Moby Aki, will all receive a Promas Lite propulsion system, which combines rudder and propeller into one propulsion unit.

02 Oct 2023

BAE Systems Secures $4,81B Funding for Next-Gen Nuclear Submarine Program

The UK Ministry of Defense has awarded £3.95 billion (currently ~$4,81 billion) of funding to BAE Systems for the next phase of the UK's next-generation nuclear-powered attack submarine program, known as SSN-AUKUS.According to BAE Systems, SSN-AUKUS will be the largest, most powerful, and most advanced attack submarine the Royal Navy has ever operated and will eventually replace the Astute class, which BAE Systems builds at its site in Barrow-in-Furness, Cumbria.The funding follows the AUKUS announcement in March by the leaders of Australia, the UK and the United States.