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Future Fuels: Methanol
Any commentator on the maritime business decarbonization voyage will offer something along the lines of "There will be multiple fuels…" With the International Maritime Organization (IMO) meetings of its Maritime Environmental Protection Committee (MEPC) set for early July, it is likely that targets for emissions will be tightened. Whatever mileposts that the IMO actually establishes, there will be no prescriptions handed down on how to get there.
Ocean Yield Enters Sustainability-Linked Transaction for Four Product Tankers
Ocean Yield has agreed to purchase four LR1 product tankers, to be constructed at Guangzhou Shipyard International (GSI) in China.The vessels will be built with a design enabling them to be converted to dual-fuel operation with methanol as fuel. Upon delivery (in 2026 and 2027), the vessels will commence 15-year bareboat charters to guaranteed subsidiaries of Braskem S.A., a global petrochemical company listed on the New York Stock Exchange and based in Brazil. Braskem S.A.
Attracting More People of Color to the Maritime Workforce
In the United States, marine transportation is responsible for $361 billion, or 1.7% of the U.S. Gross Domestic Product (GDP). Marine transportation, a key part of global logistics and responsible for 40% of international trade, goods and services, is the backbone of U.S. trade. In the U.S. in 2021 alone, ships have transported more than 1.5 billion tons of cargo valued at more than $1.5 trillion; in that same time period, U.S.
Crossing Death's Door Daily
Washington Island Ferry Line (WIFL) has been the essential link between the residents, business and visitors of Washington Island and Wisconsin's Door Peninsula for more than eight decades.Picturesque and peaceful Door County isn't named for some intrepid settlers named Door. The name has a more ominous meaning. It's derived from the treacherous passage between the peninsula and Washington Island that mariners called Porte des Mortes…
Contracting of Product Tankers Jumps
The product tanker orderbook to fleet ratio has surged from 5.4% in December 2022 to 9.3% in June 2023, driven by a remarkable 337% y/y rise in contracting during the first half of this year.“A spike in freight rates and product tanker demand is likely behind the surge in contracting,” says Filipe Gouveia, Shipping Analyst at BIMCO.By June 2023, product tanker contracting reached 8.9 million DWT. This…
Chemical Tanker Owners Seek Fleet Renewal
An easing of chemical tanker earnings in Q2 has not discouraged owners tempted to place newbuilding orders. After a period of extremely strong vessel earnings and asset valuations, an unwinding of the support that created the earnings boom has seen spot and time charter rates fall from their highs, though still remain at elevated levels.This bifurcation of the market has seen owners tempted back to the shipyards with ordering picking up steadily from Q1 and into Q2…
Wärtsilä Supplies Energy Saving Propulsion Devices to Vitol Tankers
Wärtsilä has delivered propulsion efficiency devices to two tankers owned by Vitol.The vessels, Elandra Sea and Elandra Star, managed by Latvian operator LSC Group, had tailored Wärtsilä EnergoFlow and EnergoProFin systems installed during summer 2022.EnergoFlow is a pre-swirl stator that creates an optimal inflow for the propeller, reducing fuel consumption and emissions in all operating conditions.
MARAD Announces First Ships Enrolled in the Tanker Security Program
The U.S. Department of Transportation’s Maritime Administration (MARAD) announced on Tuesday that nine ships have been enrolled in the Tanker Security Program (TSP), a newly created public-private partnership program that makes U.S.-flag commercial product tankers available to support U.S. armed forces and national economic security.“Today we are announcing the first ships to join the Tanker Security Program…
Capsized Towboat Spills Diesel in Alabama
A partially sunken towboat is discharging diesel fuel near Florence, Ala.The U.S. Coast Guard said on Monday it is responding to the incident alongside partner agencies after Coast Guard Sector Ohio Valley received notification at approximately 2 p.m. Sunday from RMB Marine Services reporting the towboat Michael R had partially sank in the Port of Florence, adjacent to mile marker 257 on the Tennessee…
Scorpio Sells 2013-built Tanker for $32.5 Million
Scorpio Tankers announced it has sold a medium range (MR) product tanker for $32.5 million.The Monaco-headquartered shipowner said the sale closed this month, but…
Light Structures Inks Deal for Hull Monitoring on 8 LNG Carrier Newbuilds
Light Structures AS was contracted by China Merchants Hoi Tung company to deliver and install Hull Stress Monitoring Systems for eight newbuild LNG carriers. The vessels are owned by two separate consortia for operations in the Middle East and are being built by Hudong-Zhonghua Shipbuilding for delivery through 2024 to 2026.Light Structures will provide hull monitoring data to the LNG vessels using the standardized SENSFIB Global system.
China Celebrates National Maritime Day
China celebrated its 19th National Maritime Day on July 11, with celebrations taking place in museums and schools along with a range of technical conferences.The Ministry of Transport released the 2022 China Shipping Development Report which showed that container throughput at ports increased by 4.7% and the volume of rail-water multi-modal transport routes increased by 16% year-on-year.China Daily reports Vice-Transport Minister Fu Xuyin saying: “By the end of last year…
Elcome, Miros Ink Distribution Deal
Elcome International LLC signed an exclusive sales and service agreement with Miros AS, the Norway-headquartered wave, current and oil spill monitoring specialist.The partnership expands the distribution of Miros’ comprehensive range of sea state sensor and measurement solutions to Gulf Cooperation Council (GCC) countries, namely UAE, Saudi Arabia, Oman, Kuwait, Bahrain, and Qatar.Miros’ portfolio of sea state measurement solutions provides accurate…
Mack Boring Names Henkin COO
Jonathan (Jon) Henkin has been promoted to the role of Chief Operating Officer for Mack Boring & Parts Co. Most recently Henkin was Director of Operations since 2010, and has led the integration of lean manufacturing principles into our operations, implemented his second ERP upgrade in 2020, planned and led a facility move from Union, NJ to Somerset, NJ and has been instrumental in the many systems…
AI-Based Semi-Autonomous Voyage Planning System Tested
Yara Marine Technologies, artificial intelligence (AI) application developers Molflow, Chalmers University of Technology and social science specialists from Halmstad University and Gothenburg University have collaborated over three years to develop and trial an AI-based semi-autonomous voyage planning system.Initiated in August 2020, the Via Kaizen project explores how AI and machine learning can enable more energy-efficient voyage planning for ship operators.
Performance Shipping Bags Charter for M/T P. Aliki Tanker
Performance Shipping, a shipping company specializing in the ownership of tanker vessels, has entered into a time charter contract with ST Shipping & Transport Pte Ltd.…
Wärtsilä, Qtagg Launch Retrofit Solution for Marine Engine Governor System
Finland-based marine technology firm Wärtsila said Wednesday it had launched an innovative retrofit solution for its marine engine governor system in collaboration with Swedish marine green tech company Qtagg. The solution is designed to extend the lifespan of a ship’s propulsion control system, while simultaneously enhancing the vessel’s overall efficiency.Wartsila's Wärtsilä Automation, Navigation…
Scorpio Tankers Wins $1 Billion Credit for New Vessels
Scorpio Tankers has received commitments from a group of financial institutions for a previously announced $1.0 billion term loan and revolving credit facility.The…
Specialist Training Provider Joins the Methanol Institute
The Methanol Institute has welcomed multi-disciplinary methanol consultancy GREEN MARINE as its latest member. The Denmark-headquartered company has recently finalised a specialist training program for crew onboard methanol dual-fuel vessels.A recent report commissioned by the Maritime Just Transition Task Force Secretariat predicts a rise in the number of seafarers needing training on alternative fuel technologies in the 2040s to between 310…
New Product: Subsea Power Cable Cutting, Clamping Tool
Credeblug and Tecnalia have teamed to improve the maintenance and repair operations carried out on underwater power cables. The end result: the manufacture and validation of s cutting and clamping tool, designed to secure one end of a cable after it has been cut, aiming to save time and money.“This functionality has been called for by offshore cable repair teams all over the world since such operations began in the 19th century," said Joannes Berquè, a TECNALIA researcher.