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Analysis: Meltdown in the Container Shipping Sector Gains Speed
Facing global economic headwinds, the volume of containerized cargo movement continues to plummet, Peter Sand, Chief Analyst, Xeneta, summarizes: āIt is clear that the carriers are no longer in charge, the shippers are.āPeter, it seems like the news in the container shipping sector started as a flow and has turned into a torrent. There was some data released yesterday that showed a 9.1% drop in September year on year for dry containers, and a 2.3 decline in the reefer sector.
Matson Orders Three LNG-fueled Containerships from Philly Shipyard
U.S.-based ocean carrier Matson announced it has placed a $1 billion order with Philly Shipyard for the construction of three new 3,600 TEU Aloha Class containerships.The first vessel is expected to be delivered in the fourth quarter of 2026 with subsequent deliveries in 2027.Matson, which aims to achieve a 40% reduction in Scope 1 fleet emissions by 2030 and net-zero Scope 1 by 2050, said the threeā¦
MODEC Confirms FPSO FEED for Exxon's Uaru Oil Field Offshore Guyana
Japanese floating oil and gas production systems provider MODEC has signed a contract to perform Front End Engineering and Design (FEED) for an FPSO vessel for ExxonMobil's āUaruā oil field development project offshore Guyana.The FEED contract award relates to the initial funding by ExxonMobilās subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), to begin FEED activities related toā¦
Russia Ramps Up Seaborne Urals Oil Exports to Asia ahead of EU Embargo
Russia ramped up seaborne Urals oil exports to Asia to 50% of the total over the Oct. 1-20 period ahead of a December EU embargo on the state's oil and products, according to traders and Refinitiv Eikon data.EU countries which have been primary consumers of Russian crude oil for decades will stop buying it from Dec. 5 due to the embargo imposed by the bloc.Bulgaria is the only state allowed to continue seaborne imports beyond the dateā¦
LNG Ships Play Waiting Game Off Spain's Coast as Higher Prices Eyed
Several ships carrying liquefied natural gas (LNG) anchored off Spain's Bay of Cadiz are likely to stay there until late November in anticipation of a rise in European gas pricesā¦
Police Guard LNG Ports as Germany Fast-tracks Critical Infrastructure Law
Germany has ordered police to guard LNG terminals under construction and increased aerial supervision of its rail network as it prepares a law to bolster the protection of critical infrastructure, its interior minister told Reuters.Suspected sabotage on the German rail network and on the Baltic Sea gas pipelines linking Germany and Russia in recent weeks have raised concerns about the country's exposureā¦
50-meter Section Missing from Damaged Nord Stream Pipeline
Damage to the Nord Stream gas pipeline from Russia to Europe was caused by powerful explosions, Danish police said on Tuesday, echoing earlier findings into leaks that erupted in the network under the Baltic Sea and that have been blamed on sabotage.In what a Swedish newspaper described as the first publicly released footage of damage to the system, film from a private drone appeared to show a gaping rupture in one pipe.
Russia is Prepared to Quit Black Sea Grains Deal
Moscow has submitted concerns to the United Nations about an agreement on Black Sea grain exports, and is prepared to reject renewing the deal next month unless its demands are addressed, Russia's Geneva U.N. ambassador told Reuters on Thursday.The agreement, brokered by the United Nations and Turkey in July, paved the way for Ukraine to resume grain exports from Black Sea ports that had been shut since Russia invaded.
Kongsberg to Equip Three Polish Navy Warships with Hugin AUVs
Norway's Kongsberg Maritime has secured a contract award with Polish shipbuilder Remontowa Shipbuilding SA (RSB) to supply three shipsets of Kongsberg Hugin Autonomous Underwater Vehicle (AUV) systems and related HiPAP positioning and communication systems for three newbuild warships for the Polish Navy.The total contract value exceeds ā¬10 million, with the Kongsberg equipment planned for the next three ships in the Kormoran II Mine-Countermeasures (MCM) vessel program (#4ā¦
US Sanctions Firms Transferring Oil to North Korean Ships at Sea
The United States on Friday imposed new sanctions following North Korea's latest missile launches this week, targeting a fuel procurement network that Washingtonā¦
Mitsui OSK Signs Charter With New Russian Operator of Sakhalin-2 LNG project
Japan's Mitsui OSK Lines (MOL) said on Wednesday it had signed a long-term charter contract with the new Russian operator of the Sakhalin-2 liquefied natural gasā¦
Sweden Sends Diving Vessel to Inspect Leaking Nord Stream Pipelines
Sweden sent a diving vessel on Monday to the site of Russian gas pipelines in the Baltic Sea that ruptured last week following blasts in the area, to probe an incident that has added new tension to Europe's energy crisis.Europe is investigating what caused three pipelines in the Nord Stream network to burst in an act of suspected sabotage near Swedish and Danish waters that Moscow quickly sought to pin on the Westā¦
AMP President Slams Jones Act Waiver
The president of a U.S. maritime trade group has slammed a decision by the Biden administration to approve a temporary Jones Act waiver for vessels shipping oil and other essential commodities to Puerto Rico in the wake of hurricane Fiona.āGranting of this waiver rewards calculated and predatory behavior that undermines a dedicated American supply chain for Puerto Rico, and it is a harmful precedent that invites similar cynical stunts by foreign oil tradersā¦
Rain Lifts Rhine Water Levels, Helps Cool Off Cargo Rates
Water levels on the river Rhine in Germany have risen sharply after rain this week, approaching normal levels and helping cool off cargo shipping rates, vessel brokers and commodity traders said on Thursday.Prices for cargo shipping are falling as vessels are able to load more freight, they said.Spot prices for a liquid tanker barge from Rotterdam to Karlsruhe south of Kaub were at about 55 euros a tonne on Thursdayā¦
Greece's Sole LNG Terminal Ramps Up Imports to Replace Russian Gas
Greece has cut Russian gas imports by more than half this year thanks to increased deliveries from other producers to its sole liquefied natural gas (LNG) terminal near Athens, the country's gas grid operator said on Thursday.Greece has relied on Russia for about 40% of its gas needs for years but it has ramped up LNG purchases from other countries in line with a European Union plan to cut dependence on Russian energy.
Fincantieri Bags ā¬1.7 Billion in Orders from Viking
Italian shipbuilding giant Fincantieri said it has secured another ā¬1.7 billion in newbuild orders from luxury cruise line Viking.The two companies, which entered an agreement for six newbuild options in March 2018, have put into effect the contracts for the third and fourth ships. The companies also have signed the contract for the fifth and sixth units, subject to access to financing.Deliveries are scheduled respectively in 2026ā¦
Norwegian's First Prima Class Cruise Ship Christened
Norwegian Prima, the lead vessel of Norwegian Cruise Line's (NCL) new Prima Class cruise ship series, has been christened in Reykjavík, Iceland.Built by Italian shipbuilding group Fincantieri, the newbuild is 965 feet (294 meters) long and more than 143,535 tons with capacity for 3,100 guests at double occupancy.The ship features a three-level go-kart racetrack, waterslides, expansive pool decks and infinity style poolsā¦
Offshore Wind: Vestdavit Nets CSOV Davit Order
Vestdavit said Monday it had secured a contract to deliver its docking-head davit technology on a construction service operation vessel (CSOV) being built for Rem Offshore by Norwegian shipbuilding group VARD.The order for a PAP-15000 davit with painter boom has been secured with contractor Mare Safety for the first of two firm newbuild CSOVs that is due to be delivered in the first half of 2023 fromā¦
North Star's Offshore Wind Vessel Named After Victorian Heroine Grace Darling
North Starās new UK-built hybrid-powered daughter craft, specifically designed for the offshore wind market, has been launched at a naming ceremony held at the Royal Norfolk and Suffolk Yacht club in Lowestoft, adjacent to the firmās regional operations hub. The vessel was christened āGrace Darlingā in honor of a famous lighthouse keeperās daughter from the North East of England who risked her life in 1838 to save the stranded survivors of a wrecked merchant ship traveling from Hull to Dundee.
Alfa Laval to Provide Fuel Supply System for Six Methanol-fueled Containerships
Alfa Laval said its FCM Methanol will be the low-flashpoint fuel supply system (LFSS) on six 1170 TEU containerships ordered by Eastaway, a member of the X-Press Feeders Group. The new vessel series, to be built at Chinese shipyards Ningbo Xinle Shipbuilding Group Co., Ltd and New Dayang Shipbuilding Co., Ltd, will have two-stroke MAN B&W ME-LGIM engines that can run on methanol as well as conventional fuels.
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