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Deutsche Bank Sets Emissions Targets for Shipping Clients
Deutsche Bank has set emissions reduction targets for loans to clients in the coal mining, cement and shipping sectors and now has a net-zero plan for 55% of its financed emissions, its chief sustainability officer told Reuters.A key funder to polluting sectors, Germany's biggest lender, like many of its peers, is under increasing pressure from policymakers and investors to push clients to curb climate…
AAPA Urges Swift Adoption of Stauber Amendment
The American Association of Port Authorities (AAPA) has voiced strong support of Representative Pete Stauber’s (R-Minn.) amendment to the Transportation Housing and Urban Development (THUD) Appropriations bill which, if implemented, would restore funding for the Port Infrastructure Development Program (PIDP).“The Feds have made a serious, laudable, bipartisan down payment on port infrastructure modernization with $1.45 billion awarded through PIDP so far.
1993-built Passenger Vessel Sees 23% CO2 Emission Reduction after Eco-Makeover by Kongsberg
Kongsberg Maritime, a Norwegian maritime equipment and technology specialist, announced a 23% reduction in CO2 emissions on the 121-meter passenger vessel MS Richard With, which is owned by Hurtigruten, a coastal ship operator and adventure travel company.The vessel finished an extensive refit last summer using Kongsberg Maritime engineering and technology and has now completed its first year back in service.Last year…
Gard: Increase in Stern Tube Damage Concerning
The number of stern tube-related damage claims has increased considerably over the last few years, and this is causing marine insurer Gard some concern.In the past, damage to a stern tube was often considered a relatively straightforward casualty by surveyors. The cause was often obvious – contact with a floating object such as ice, fishing nets or ropes, for example.These causes still exist, but the significant increase in frequency over the past years…
Damen Wins Class and Flag States Approval for Methanol-fueled Workboats
Dutch shipbuilding conglomerate Damen announced it has secured approval from classification society Bureau Veritas as well as the Dutch and Belgian flag authorities for its designs of methanol-powered workboats.The shipbuilder said it can now offer designs for a wide range of methanol-powered compact vessels, ranging from tugs, stationary dredgers and high-speed vessels to fast crew suppliers, pilot boats…
IUMI Encouraging Diversity, Equity, Inclusion and Belonging
During this year’s annual conference held in Edinburgh, the International Union of Marine Insurance (IUMI) took the opportunity to explore and debate the question of diversity, equity, inclusion and belonging (DEIB) with the ambition of taking concrete steps to enhance its own representation and that of the marine insurance community more generally.Patrizia Kern-Ferretti, Chair of IUMI’s Nominating Committee…
Commercial Ports Reopen in Wake of Typhoon Bolaven
Key commercial ports of Guam, Rota, and Saipan have been reopened in the wake of Typhoon Bolaven, the U.S. Coast Guard said."This decision, effective at noon on Oct. 11, 2023, follows meticulous assessments conducted by our dedicated crews and trusted partners." the Coast guard said.The Coast Guard Captain of the Port (COTP) has downgraded the Port Heavy Weather Condition to WHISKEY, signifying the…
MOL Establishes Indonesian Manning Company
Mitsui O.S.K. Lines (MOL) and PT MCS Internasional (MCSI) have established PT McMOL Crewing International, a new joint-venture LNG carrier manning company. MCSI is part of PT Humpuss Maritim Internasional Tbk. Group in Indonesia.The JV plans to begin operations in April 2024, and will primarily allocate seafarers for the MOL Group's fleet of LNG carriers.In operating vessels transporting LNG, it is essential to recruit…
Inspirit Completes CWind Acquisition
U.K. investment firm Inspirit Capital announced it has completed the carve-out of CWind, a provider of offshore wind support services, from Global Marine Group.CWind completes approximately 60,000 crew transfers annually, utilizing its fleet of crew transfer vessels (CTV), including the world’s first hybrid surface effect ship, CWind Pioneer. The company has operated in support of more than 50 U.K.
Israel Highlights Fragility of New Trade Corridors
A new and deadly chapter of the decades-old Israel-Palestinian conflict is a reality check for an ambitious trade route. The India-Middle East-Europe Economic Corridor (IMEC), championed by Washington last month on the sidelines of the G20 summit in New Delhi and dubbed a Western rival to China’s Belt and Road, had much to prove anyway. The latest conflict presses pause on any grand financial visions…
Near Collision, Tense Encounter as Beijing Flexes Muscles in South China Sea
The crew of the Philippine coastguard boat watch anxiously as an imposing Chinese vessel draws near and cuts off its path, coming within a metre of collision in a vast stretch of open water in the South China Sea.The captain of the BRP Sindangan shuts off the engine and activates the reverse throttle. China's coastguard issues a warning via megaphone to leave as the Filipino crew watch closely on a…
Schottel Building New Logistics Center in Dörth, Germany
Maritime propulsion specialist Schottel said Tuesday it is expanding its thruster factory in Dörth, Germany, to include a logistics center with a capacity of around 4,000 square meters.A contract for the expansion has now been signed with general contractor Goldbeck from Koblenz.The new building will be annexed to the existing facility and will provide 2,634 square meters of industrial floor space and 1,326 square meters of offices.
Ship Recycling Market Surges
After a dire summer that saw over USD 100/LDT wiped off vessel recycling prices in Indian sub-continent ship recycling markets (and even Turkey to an extent), nearly all of the markets have enjoyed an upward resurgence entering the fourth quarter of the year.India has been the primary beneficiary of this recent resurgence with some stunning (container) purchases, some even approaching the USD 600/LDT mark once again, reports cash buyer GMS.
Horne Named VP of Trades at Newport News Shipbuilding
HII announced David Horne has been promoted to vice president of trades at its Newport News Shipbuilding division.Horne’s promotion comes following the restructuring of trades and human resources and administration from one large organization into two standalone organizations. Xavier Beale will continue as vice president of human resources and administration. Both Horne and Beale will report directly to NNS President Jennifer Boykin.“Each part of this organization is critical to our success…
"Made in Sicily": $126M RoPax Ferry Ordered
A new ferry, fully owned by the Sicilian Region and entirely "Made in Sicily", will carry out the connection service with Lampedusa and Pantelleria. The President of the Sicilian Region Renato Schifani and the CEO and General Director of Fincantieri Pierroberto Folgiero signed the contract for the construction of a new ferry (Ropax Class A), for a price of almost $126m.“The signing of this contract represents a turning point for connections with the smaller islands of Sicily," said Schifani.
U.S. Interior Secretary Deputy Beaudreau Bids Farewell
U.S. Deputy Interior Secretary Tommy Beaudreau is stepping down from his role at the end of October, the Interior Department said in a statement on Wednesday, without giving a reason for his departure or saying how the vacancy would be filled.The Washington Post reported earlier Beaudreau was leaving after two years in the number two spot and a total of 10 years at the agency to spend more time with family.Earlier this year…
US Sets Date for Gulf of Mexico Lease Sale After Court Order
The Biden administration on Thursday said it would hold an auction of oil and gas leases in the Gulf of Mexico on Nov. 8 following a court order to expand the sale.In a statement, the U.S. Bureau of Ocean Energy Management said the sale would offer about 72.7 million acres on the Outer Continental Shelf, including 6 million acres it had withdrawn from the auction in an effort to protect the endangered Rice's whale habitat.Last month, a U.S. appeals court gave the administration until Nov.
Russia's Sovcomflot Transfers Ships to New Management Firm to Boost Trade
Russia's leading tanker group Sovcomflot has transferred dozens of ships into a new Dubai based management company aiming to boost trade through this entity amid…
Corvus to Equip First Hydrogen/electric Hybrid Fishing and Training Vessel
Corvus Energy, a company providing zero-emission solutions for the maritime industry, said Monday it had won a contract with Hvide Sande Shipyard in Denmark to supply a complete hydrogen fuel cell system for the training vessel “MS Skulebas.” "This marks a historic milestone for Corvus Energy," Corvus Energy said."The 35-meter fishing and training vessel has the latest technology and commercial fishing…
Biden Angers All Sides with Scaled Back Offshore Oil Drilling Plan
The Biden administration's plan to slash offshore oil and gas leasing drew fire from both the fossil fuel industry and environmentalists on Friday, with energy companies saying it will raise fuel prices and greens saying it undermines efforts to stop global warming. The criticism from both sides reflects the difficulty Biden's White House has had in dealing with U.S. oil extraction policies, as it…