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Black Sea Storm Disrupts Russian and Kazakh Oil Exports
A severe storm in the Black Sea region has disrupted up to 2 million barrels per day (bpd) of oil exports from Kazakhtsan and Russia, according to state's officials and port agent data.Oil loadings from Novorossiysk and the Caspian Pipeline Consortium (CPC) terminal in nearby Yuzhnaya Ozereyevka have been suspended since last week.Kazakhstan's largest oilfields - Tengiz, Kashagan and KarachaganakâŠ
China Leads Global Renewables Race
Currently on target to reach a record-breaking 230GW of wind and solar installations this year, China leads the global renewables market. This is more than double the number of US and Europe installations combined, according to latest report âHow China became the global renewables leaderâ by Wood Mackenzie.Wind and solar project investment for China is expected to reach US$140 billion for 2023, according to the reportâs findings.Alex WhitworthâŠ
SAFE Boats and Vita Power to Build Zero-emission Patrol Boats
Bremerton, Wash. boatbuilder SAFE Boats International (SBI) announced it is teaming up with U.K.-based electric powertrains provider Vita Power to develop a 100% electric, emissions-free patrol boat.Under a new memorandum of understanding to bring electrification to the patrol boat market, the partners have adapted one of SAFE Boatsâ most proven hull designs - the 23â Center Console - to be propelled by Vita Powerâs V300 electric motor and battery package.
Study Calls for 'Liberation of Data' in Shipping Shift for Decarbonization
Siloed data systems represent a ârecipe for duplicative and multiplicative cost inside a company and across companiesâ, an OrbitMI-hosted panel at the recent Shipping Insight event in the US was told, as a Bureau Veritas-backed study highlighted this as a big barrier to data collaboration for digitalization of shipping to cut emissions.Vast amounts of data are generated from ship operations - suchâŠ
COP28 Puts Spotlight on Methane Pledges
Delegates at this year's U.N. COP28 climate summit are anxious to boost the world's climate change agenda with concrete plans for clamping down on the second-most prominent greenhouse gas â methane.While more than 150 countries have promised since 2021 to slash their methane emissions 30% from 2020 levels by 2030 under the U.S.- and EU-led Global Methane Pledge, few have detailed how they will achieveâŠ
Scandlines Launches Zero Emissions Ferry
Scandlinesâ new zero direct emissions freight ferry has been launched at the Cemre Shipyard in Turkey.The ferry will be name Futura and deployed on the Fehmarn Belt between Germany and Denmark (Puttgarden-Rødby) in 2024. It will have a 10MWh energy storage system, the world's largest lithium-ion battery bank to date, which has been supplied by Swiss manufacturer, Leclanché.The 8.6 meter high ferry charger towerâŠ
Coal Shipments to Advanced Economies Down 17%
âIn the first 10 months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electricity produced using renewable energy rose. Also slowed economic activity and high energy prices affected electricity demand,â says Filipe Gouveia, Shipping Analyst at BIMCO.Between January and August, electricity production in advanced economies fell by 4% y/y, according to data from the International Energy Agency.
Angad Banga Elected Chairman of the Hong Kong Shipowners Association
Angad Banga of The Caravel Group was elected Chairman of the Hong Kong Shipowners Association at the organizationâs annual meeting held on November 22, 2023.Banga succeeds Wellington Koo, of Valles Steamship, who stepped down after completing his two-year term as Chairman.Richard Hext of Swire Shipping was elected Deputy Chairman, succeeding Banga. Qian Weizhong of COSCO Shipping (Hong Kong) and WangâŠ
Committed Owners Supporting Green Financing Landscape
Hamburg-based ship finance platform oceanisâs Q4 State of Ship Finance Report comes with a thank-you to shipping companies that are committed to the green transition.Over the past decade, oceanis has seen large changes to the ship financing landscape towards greener projects. The most obvious green financiers are the Poseidon Principles banks, the initiative launched in 2019 whose signatories manage 70% of the worldâs shipping loans.
Accelerating US CTV Market Development with Hybrid Solutions
As the world looks to renewable energy sources to combat climate change and reduce reliance on fossil fuels, offshore wind has emerged as a promising frontier in the United States. A report by the University of California Berkeley released in August concluded that due to the nationâs long coastlines with sustained winds in many areas and falling turbine costs, offshore wind could feasibly supply betweenâŠ
China Unlikely to Repeat Last Winter's Surge of Fuel Exports
A surge of diesel and gasoline exports from China in the last northern winter eased then-prevailing fuel shortages in Asia but a repeat performance this year is unlikely.China's exports of refined products have eased from high levels in recent months, partly as a result of stronger domestic demand, but a lack of available quotas and shrinking profit margins for fuels have also played a role.In theâŠ
Maersk Winds Down Operations in Syria
Danish shipping company Maersk will from Dec. 1 no longer offer shipments to or from Syria, it said on Tuesday.Maersk said in a statement its operations in Syria are already limited as a result of international sanctions."This has recently become even more challenging logistically, and we have therefore made the decision to close our operations down completely," it said.(Reuters - Reporting by Louise Breusch Rasmussen, editing by Anna Ringstrom)
Meet the CIO: Erika Graziuso, Crowley
Erika Graziuso, Chief Information Officer, Crowley, brings a breadth and depth of non-maritime experience to bear in her quest to drive Crowleyâs digital transformation in the name of decarbonization, holistic transportation efficiency and crew attraction and retention.Emulating best practices from industries outside of maritime has been a mantra in boardrooms and conferences for decades, as traditional maritime mindset hasâŠ
Insights: Frank Manning, President & COO, Diversified Marine, Inc.
Frank Manning has quickly risen through the ranks during his eight years in the shipyard business, today serving as president and COO at Diversified Marine, Inc. (DMI) in Portland, Ore. Crucial along the way has been a passion for the business itself and the people that make it all possible.âThe first day I walked in a shipyard I knew that I was in the right industry,â Manning said. âDMI has always been a relationship-based business.
Weaker Capesize Rates Push Baltic Dry Index Lower
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, dropped to snap a seven-session winning streak on Monday, weighed down by lower capesize rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 3 points, or 0.2%, to 1,817.The capesize index lost 56 points, or 2%, to 2,707.Average daily earnings for capesize vesselsâŠ
GMS: Steel Plate Prices Not Yet as High as Hoped
As Diwali holiday celebrations concluded, Alang recyclers seem to slowly be filtering back to work amidst declining plates prices, sentiments, says cash buyer GMS, and local offerings that remain stagnant.âUnfortunately, this remains the ongoing dilemma across much of the Indian sub-continent ship recycling markets, especially as steel plate prices are yet to gain ground to the extent many in the industry had been hoping for thus farâŠ
VARD and Windward Select Brunvoll Propulsion for New Series of CSOVs
Brunvoll has received an order for the delivery of propulsion and manoeuvring packages for Windward Offshore's new Commissioning Service Operation Vessels (CSOVs). The order is for two vessels, with two additional vessels as an option.Windwardâs new vessels will have two propulsion azimuth thrusters in the aft, and two retractable azimuth thrusters and a tunnel thruster in the bow. All azimuth thrustersâŠ
US Navy Ship Shoots Down Drone from Yemen
A U.S. Navy warship shot down a drone in the Red Sea that emanated from Yemen, two U.S. officials told Reuters on Wednesday, in what appeared to be only the second time the United States has brought down projectiles near its warships since the Israel-Hamas conflict began.Washington is on heightened alert for activity by Iran-backed groups as regional tensions soar during the conflict and has been trying to ensure that it does not spread in the region.The officialsâŠ
Digitalization: Maritime Charts its Course
Maritime players plotting pathways to data collaboration with digital projects in line with new BV-backed research study.Digital technologies are increasingly being leveraged by shipping players to facilitate data collaboration among different actors in areas like ship design, vessel performance and port calls as a new Thetius research study backed by Bureau Veritas (BV) shows this will be vital to drive decarbonizationâŠ
Snam to Invest in Ravenna FSRU
Italian gas grid operator Snam will invest 1 billion euros ($1.1 billion) in a new LNG offshore terminal near Ravenna, the company's CEO said on Tuesday.The floating storage and regasification unit (FSRU) will add to another LNG terminal already set up in Tuscany, increasing Italy's gas import capacity and reducing dependence from its traditional suppliers, including Russia."To increase energy security for Italy we decided last yearâŠ