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Asian Spot LNG Prices Slip to Two-year Low
Asian spot liquefied natural gas (LNG) prices slipped to their lowest level in two years on weak demand and high inventories, while European LNG prices also fell below the $10 mark amid healthy stock build and limited need for additional supply.The average LNG price for July delivery into northeast Asia was down 6.6% from the previous week at $9.8 per million British thermal units (mmBtu), the lowest since May 2021âŠ
Platts Launches Tanker Freight Rates to Reflect Costs of New Fuels
Platts, part of S&P Global Commodity Insights, has launched new price assessments for tanker base freight rates that factor in pricing for alternative fuels, the agency said on Tuesday.The move comes as the agency expects the maritime sector's use of alternative fuels, such as liquefied natural gas (LNG) to grow significantly in the next few years.With about 90% of world trade transported by sea, shipping accounts for nearly 3% of the world's CO2 emissionsâŠ
US Forms Council to Advise on USMMA Improvements
The U.S. Department of Transportation has formed a new advisory council to help drive improvements at the U.S. Merchant Marine Academy (USMMA), a service academy in Kings Point, N.Y.According to the DOT, establishment of the USMMA Advisory Council fulfills a key recommendation from the National Academy of Public Administrationâs (NAPA) November 2021 report entitled âOrganizational Assessment of the U.S.
Job Role Redesign Aims to Attract Talent to Shipping
The Singapore Maritime Foundation (SMF) has launched a Maritime Workforce Transformation Guidebook which offers a practical approach for companies in the maritime sector to embark on job redesign to better attract talent to the industry.The Guidebook is distilled from key findings of a job redesign pilot conducted in 2022 by SMF in partnership with Pacific Carriers Limited (PCL) Pacific International Lines (PIL).
Sensing360 and Damen Shipyards Team Up to Bring Photonics-based Sensors to Maritime Industry
Dutch firms Sensing360 and Damen Shipyards have teamed up to improve the safety, efficiency, and sustainability of ships through advanced sensor technology. Sensing360 specializes in sensor technology based on photonics â the interaction between light and electronics. "The collaboration with Damen means we can now also deploy this technology â which we already use extensively in wind turbines â onboard ships.
ABS Wavesight Partners with ActZero on Maritime Cybersecurity
ABS Wavesight, an ABS-affiliated software-as-a-service (SaaS) company, today announced a new alliance with ActZero, a managed detection and response (MDR) service provider, to help safeguard fleets from the growing threat of cyberattacks.ActZero will provide cybersecurity protection to ABS Wavesight clients alongside ABS Wavesightâs portfolio of vessel and voyage management tools. âOffering ABS Wavesight users a cyber solution is not just a natural next stepâŠ
Veson Nautical to Acquire VesselsValue
Veson Nautical (Veson), a maritime freight management solutions provider, said Tuesday it planned to acquire vessel valuation provider VesselsValue. Founded in 2011, VesselsValue now has a database of more than 81,500 vessels and provides daily updated, automated, vessel-specific valuations, reports, and market insights.In a statement on Tuesday, Veson said: "By combining VesselsValue products and services with Vesonâs existing solutionsâŠ
LR and ICS Invest in Crew Insight Software
Lloydâs Register has acquired a 50% interest in ISF Watchkeeper, a work and rest hours compliance software solution from IT Energy Systems and Consulting Limited. The acquisition will result in LR becoming a joint owner of ISF Watchkeeper with the International Chamber of Shipping (ICS).Originally developed by ICS and IT Energy, ISF Watchkeeper is a suite of digital solutions that helps global ship operators to planâŠ
Ampelmann Secures Six New Contracts in US Offshore Wind Market
Dutch offshore crew transfer equipment specialist Ampelmann said Tuesday it had signed six new contracts in the offshore wind market in the United States for 2023, 2024, and 2025.The contracts set for 2023 have been secured for work on two new offshore wind farms being built off New England's coast."In the coming year, Ampelmannâs motion compensated gangways will assist with the hook-up, cabling and commissioning of turbines on Vineyard and Southfork wind farmsâŠ
Insights: Robert Schluter, e1 Marine
Robert Schluter served as an officer as part of the marine engineering team on board the U.S. Navy guided missile destroyer USS Mahan DDG-42 out of Charleston before transitioning to the business world and âgeneral, corporate type workâ. Today he serves as managing director at the third startup heâs helped build, e1 Marine.The company, a joint venture between Louisiana-based marine equipment lessor Maritime PartnersâŠ
S&P Global Buys Firm to Bolster Capability to Track Commodity Shipments
S&P Global Commodity Insights said on Monday it had acquired UK-based technology firm Tradenet and its live vessel-tracking platform Market Intelligence Network (MINT) to bolster its capability to track and analyze commodity shipments. Demand for ship-tracking data has grown in the commodities sector in recent years, leading to the creation of new data analytics businesses such as Kpler, Vortexa and Refinitiv that compete with S&P Global.
Orca AI Lands Deals with ARC and Liberty
Maritime technology company Orca AI announced it has secured deals with U.S. Ro-Ro operators Liberty Maritime Corporation and American Roll-On Roll-Off Carrier (ARC)âŠ
Interview: Harry Stewart, President & CEO, The Dutra Group
Harry Stewart recently took the helm as President and CEO of The Dutra Group, succeeding Bill T. Dutra, the man who founded the company at the age of 26 and led it for the last 50 years. With a renewed vigor for national infrastructure, there are myriad opportunities in the dredging and marine construction sectors, opportunities balanced by a similar number of challenges. We recently visited with Mr.
Kongsberg Digital Launches Industrial Work Surface to Transform Carbon-Intensive Industries
Kongsberg Digital has launched its Industrial Work Surface, which aims to "fundamentally change how carbon-intensive industries operate by enabling the companyâs software users to work within a single digital environment.""By providing end-to-end user workflows, Kongsberg Digitalâs customers will benefit from cleaner, more efficient, and lower cost operations, reinforcing the companyâs proven technology already deployed across the energy and maritime sectorsâŠ
Voyage Optimization Can Slash Emissions by 7.3% -Study
A vesselâs fuel consumption and CO2 emissions can be reduced by up to 7.3% by using voyage optimization software, a recent study shows. Moreover, the analysis shows that voyage optimization can improve a vesselâs CII by an average of 5-6%, enabling ships to maintain their ratings for an additional two to three years.NAPA, a maritime software and data analysis expert, and classification society NipponâŠ
Chevron Shipping Taps ABS Wavesight for GHG and Sea Cargo Charter Reporting
ABS Wavesight, an ABS-affiliated company, has been selected to provide greenhouse gas (GHG) and Sea Cargo Charter reporting services to Chevron Shipping Company (CSC).
Svitzer Appoints New Global Head of Green Ports
A.P. Moller-Maersk's towage arm Svitzer announced Svitzer Australia Chief Commercial Officer Ivan Spanjic has been appointed as Global Head of Green Ports.Svitzer CEO Kasper Nilaus believes Spanjicâs role will be central to helping Svitzerâs customers better adjust their assets and operations to become more sustainable. âPorts and partners across the marine supply chain have long recognized the importance of growing sustainably and responsiblyâŠ
EVENT: Reuters U.S. Offshore Wind Returns to Boston
Reuters Events has officially launched their flagship offshore wind event, US Offshore Wind 2023 (USOW23) being held in the Hynes Convention Center, Boston, July 11-12, 2023.The event will unite more than 1000 offshore wind developers, utilities, OEMs, financiers, and supply chain executives, hosting industry-breaking discussions covering all corners of project development, from permitting through to construction.Click here to see the Speaker and Agenda line-upU.S.
Q&A: Ballast Water Management Market Matures
Since the ballast water management system discussion started nearly two decades ago, a clear concern was the ability to fit new equipment on existing ships, placing a strain on both space and power. Last month we caught up with a few key suppliers to for their insights on market development.How many BWMS have you sold and installed to date?Maxime Dedeurwaerder, BIO-UV GroupLast year has proven to be the best on record, with roughly 200 BIO-Sea units delivered.
OSVs Help to Power North American Maritime Fuel Transition
The fuel switch in maritime is on, its real, and it will be driving vessel design, construction and operation decisions for decades to come. While many still debate the merits of each alternative fuel, OSV industry leaders are at the forefront driving change, and they need to be, as in North America alone OSVs makes up 17% of the fleet but contributes 29% of the maritime emissions. In the next edition of Offshore EngineerâŠ