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Fincantieri Cuts Steel for MSC's Explora II
Italian shipbuilding group Fincantieri has cut first steel for Explora Journeys' new-concept luxury cruise ship Explora II.Explora Journeys, the new luxury brand of the cruises division of MSC Group, ordered four vessels of this class in 2018, in a deal worth more than €2 billion.The series' first ship, Explora I is currently under construction in Monfalcone, while Explora II will be built at Fincantieri's Sestri Ponente (Genoa) yard…
MacGregor Wins €31 Million RoRo Orders from Asia
MacGregor, part of Cargotec, said it has secured equipment orders for eight RoRo vessels to be built in Asia. The orders are booked into Cargotec's second (€9 million) and third quarter (€22 million) 2021 order intake with deliveries planned to commence during the second quarter of 2022 and completed during the third quarter of 2023.The scope of supply includes quarter and side ramps, hoistable car…
LOOP Did Not Deliver Sour Crude from Storage in September
The Louisiana Offshore Oil Port (LOOP), the largest U.S. privately owned deepwater crude terminal, said on Friday it made no deliveries of sour crude from storage last month, following two storms that hit the U.S. Gulf Coast.The facility closed on August 28 ahead of Hurricane Ida, which damaged production and processing facilities in the U.S. side of the Gulf of Mexico, forcing the suspension of millions of barrels of crude and gas output.
Wärtsilä Awarded Certification for EU Stage V Compliance
The technology group Wärtsilä has received marine sector commercial certification for compliance with the EU’s Stage V standards. The Stage V legislation, which came into force in 2020, tightens restrictions on non-road engines and equipment, and sets stricter limits on emissions, especially particulate matter (PM) and nitrogen oxide (NOx) emissions. The certification applies to the total solution…
Safe Bulkers Sells a Kamsarmax Vessel
Dr bulk shipping company Safe Bulkers announced Wednesday that it has entered into an agreement for the sale of Pedhoulas Fighter, a 2012 Chinese-built Kamsarmax…
Dry Bulk Profits Surge to Multi-year Highs
Heading into the seasonally strongest part of the year, dry bulk owners have already enjoyed a very profitable year with the temporary factors helping the market stay strong expected to continue providing support into 2022, says shipping organization BIMCO.Demand drivers and freight ratesThe dry bulk shipping industry continues to enjoy a bumper year, with average earnings continuing to outshine any profits made in the past couple of years.
Nord Stream 2 Pipeline Completed, Gazprom Says
Gazprom said on Friday it had finished construction of the Nord Stream 2 subsea pipeline to Germany, completing Moscow's project to increase its gas export capability and bypass Ukraine, but flows have yet to be cleared by regulators.The much-politicized pipeline will double Russia's gas exporting capacity to Europe via the Baltic Sea and will allow Moscow to circumvent its political foe Ukraine as a major route for its lucrative gas exports to Europe."The head of the management board…
US Gulf of Mexico Oil Production Losses Lead to Cargo Cancellations
U.S. oil offshore losses remained at 76% on Thursday after Hurricane Ida hit the Gulf of Mexico, according to government data, which prolonged outages and caused the first oil cargo shipment cancellations to buyers in Asia.Production should be disrupted for several more days amid lasting damages to transfer stations and offshore facilities used by different companies, analysts said, with impact to…
It’s European Design, But Built For The Jones Act Market
The Netherlands-based Damen Shipyards Group is one of the industry’s largest and most recognized shipbuilders, perhaps best known for its standardized, serial production workboats. Now with several dozen newbuild and repair yards on the map, the company has produced more than 6,000 vessels over its 90-year history—from harbor tugs and offshore supply ships, to ferries and patrol craft. But Damen does not have a shipyard in the United States…
Car Carrier Prices Are Hot and Getting Hotter
Newbuild spend for vehicle carriers, including large car and truck carriers (LCTC), pure car and truck carriers (PCTC) and pure car carriers (PCC), smashed past $3.2 billion last week…
Profitability Still a Way Off for Tanker Shipping -BIMCO
New virus mutations and outbreaks have slowed the recovery in global oil demand as some countries lock down again and international travel remains complicated.Drivers of demand and freight ratesTo say that the summer has not been kind to the crude oil shipping industry would be an understatement. Average earnings have dropped below $10,000 per day since June for all crude oil tankers, with many trades offering negative earnings…
ZIM Opts for Five More LNG-fueled Containerships
Israeli container shipping company ZIM Integrated Shipping Services Ltd announced on Wednesday that it has exercised its option to long-term charter five additional 7,000 TEU liquefied natural gas (LNG) dual-fuel newbuilds from containership lessor Seaspan Corporation.Under the initial deal announced in July, ZIM has already entered into long-term charter agreements for ten 7,000 TEU LNG vessels scheduled to be delivered from the fourth quarter of 2023 into 2024.
Gulf Coast Fuel Supply & FUELTRAX Partner
Gulf Coast Fuel Supply, an offshore fuel supplier specializing in MGO and VLSFO deliveries at the Galveston Lightering area, has partnered with FUELTRAX to install its fuel monitoring solution on the chemical tanker Bonaire Trader. Bonaire Trader was built in 2007 and has previously operated at South African ports. She now serves customers in the Galveston area near Houston, Texas. The vessel's carrying capacity is 11255 t DWT, and her current draught is reported to be 5.6 meters.
Floods, Outages Slow Oil Companies' Efforts to Restart after Hurricane Ida
Widespread flooding from Hurricane Ida and power outages slowed efforts on Tuesday by energy firms to assess damages at oil production facilities, ports, and refineries.Nearly all of Louisiana lost electrical power on Monday after one of the most powerful hurricanes to hit the region downed transmission lines and flooded communities. Coastal areas were swamped by a storm surge so great it reversed…
Ship Recycle Prices Settle - GMS
Prices have settled into a new reality this week as end buyers get back to buying at levels just shy of the historical peaks seen this year, closer to (and in some cases, just over) $600/LT LDT from the market leaders, on high-spec units.It has been a phenomenal year for the sub-continent ship recycling markets thus far, which has seen prices more than double in the space of the last 12 months, especially as supply gets tight.
Hurricane Ida's Fury Cuts Deep into U.S. Oil Output, Gasoline Supplies
Hurricane Ida pummeled U.S. Gulf Coast energy suppliers, knocking out most of the region's offshore wells and nearly half its motor fuel production and drove prices broadly higher.The storm crashed on Sunday into the Louisiana coast, tearing through U.S. offshore oil and gas fields with 150 mile per hour (241 kph) winds and pushing up to 12 feet (3.7 meters) of water ashore. More than 620,000 homes…
2021: The Year of the Containership
What’s not to like about 2021 for container shipping? Freight rates are record high, record amounts of cargo are shipped across the Pacific Ocean, as well as globally, and the previous yearly record for new container ship orders has just been broken (measured in capacity) in less than eight months.As a result of very healthy shipowner bottom lines and carriers experiencing a lack of tonnage, 619 container ships are now on order for future delivery.
Northern Drilling Cancels Drillship Order with DSME. Seeks $90M+ Refund
Billionaire John Fredriksen-owned offshore drilling company Northern Drilling said Tuesday it had canceled a drillship resale contract with the South Korean shipbuilder…
VIDEO: Norwegian Cruise Line's New Ship Floated Out in Italy
Norwegian Cruise Line’s new cruise ship Norwegian Prima was floated out at the Fincantieri shipyard in Marghera (Venice) this week.The Norwegian Prima is the first of six vessels of the Norwegian Cruise Line’s (NCL) new Prima Class of ships. NCL is part of Norwegian Cruise Line Holdings Ltd.Along with her sister-ships, “Norwegian Prima” will form the backbone of the future NCL fleet, being more than 142,500-tons, almost 300 meters long, and accommodating 3,215 guests, Fincantieri said Friday.
ExxonMobil Initiates ULSFO, LSFO Barge Deliveries in New Zealand
ExxonMobil has started barge deliveries of two grades of IMO-compliant, low-sulfur marine fuel, namely, DMA 0.001%S [Ultra Low Sulfur Marine Diesel] and DMB 0.01%S [Low Sulfur Marine Diesel] at the Port of Tauranga, New Zealand, enhancing its offer in the Asia Pacific region.The arrival of MT Kormako, the first and only bunker barge in Port of Tauranga, enhances ExxonMobil’s bunkering operation at…