MarineLink News Search
Search term • When-Up-Is-Down
Create an email alert for When-Up-Is-Down
Europe's Offshore Wind Power Goal Hits New Snag: Security
As Europe turns to renewable sources to diversify energy supplies away from Russian oil and gas, a peaceful marine scene conceals a billion-dollar security headache.Rising above the Baltic Sea less than 10 km (6 miles) off the coast of Denmark, 161 wind turbines spin slowly. They supply around 4% of the country's power, sent to shore through two cable connections.The turbines have no barriers or surveillance."Our technicians are only here until five o'clock in the afternoon…
Canada's Seaway Strike Impacts 115 Vessels in Great Lakes Route
A strike in Canada's St. Lawrence Seaway entered its second day on Monday after workers walked off over a wage dispute, shutting down an important maritime trade route linking the Great Lakes to Montreal port and impacting about 115 vessels.Some 361 workers represented by the Unifor union went on strike on Sunday after failing to negotiate a new labor contract with the St. Lawrence Seaway Management Corp (SLSMC), which along with a U.S.
Container Shippers in Store for Stormy 2024 - Xeneta
Supply chains around the world could be at serious risk amid expected increases in the cost of ocean freight shipping during 2024.Oslo-based Xeneta has carried out in-depth analysis of the latest ocean freight rates and branded the current market as unsustainable.Xeneta CEO Patrik Berglund said: “The cost of moving goods by sea has plummeted during 2023 by almost 60% for long term contracts on a global level and some corridors…
Ukraine's Farmers Look to New Black Sea Route to Boost Food Exports
Agricultural producers in Ukraine say a new Black Sea corridor could enable exports of up to 2.5 million metric tons of food a month, almost offsetting the impact of Russia's decision to quit a U.N.-brokered deal to allow grain shipments through the region.The export deal brokered by the United Nations and Turkey collapsed in July as Russia declined to recognize it, saying its demand that sanctions…
China Ship is Focus of Pipeline Damage Probe, Finland Says
An investigation into the damage to the Balticonnector gas pipeline is currently focused on the role of the Chinese NewNew Polar Bear container vessel, Finland's National Bureau of Investigation (NBI) said on Friday.Early on Oct. 8, a gas pipeline and a telecoms cable connecting Finland and Estonia were broken, in what Finnish investigators said may have been sabotage, though they have yet to conclude whether it was an accident or a deliberate act.On Tuesday…
Strait of Hormuz: The World's Most Important Oil Artery
The Israel-Hamas war has raised the spectre of a wider regional conflict which could embroil Iran and other regional factions.Analysts and market observers say the conflict could prompt the United States to tighten sanctions on Iran, which may spur Tehran to take retaliatory action against ships in the Strait in Hormuz.The Marshall Islands registry, one of the world's top shipping flags, last week…
ABB Flags Q4 Slowdown and China Challenges
ABB flagged a slowdown in revenue growth in the fourth quarter and reported a continued decline in orders in China, sending its shares lower even as the Swiss engineering group posted third-quarter earnings broadly in line with forecasts.The maker of industrial drives and motors noted some signs of stabilisation in China, its second-largest market and said higher quarterly revenues and earnings were boosted by price increases outstripping cost inflation…
US Senators Ready Bill to Fund Office Helping Iran Oil Seizures
U.S. senators from both parties are readying legislation to help the federal government enforce oil sanctions on Iran, the office of Senator Joni Ernst, a Republican, told Reuters on Thursday.Ernst is spear-heading the bill slated for release on Monday to create a $150 million Iranian sanctions enforcement fund for the Department of Homeland Security Investigation (HSI) office, with a priority on Iranian petroleum sanctions.
LNG Tanker Diverts from Egypt Terminal as Gas Flows from Israel Ebb
A tanker seeking to fill up liquefied natural gas (LNG) at a terminal in Egypt left empty and diverted to another port, after an Israeli pipeline supplying gas was halted due to Israel-Hamas conflict…
Lies, Damn Lies, and Inextinguishable Lore – EV Fires
A few weeks ago I was talking to some professional fire fighters and was regaled with EV fire fighting disasters. They told me that EV caught fire all the time, that EV fires were much more dangerous than gasoline fires, and that fire trucks could not carry enough water to put out an EV fire. When I asked if they had fought any EV fires, they told me their information came from reliable sources and then asked me if I would park my Chevy Bolt in my garage.
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…
IMRF Announces 2023 SAR Award Winners
The International Maritime Rescue Federation (IMRF) has announced the winners of this year’s IMRF Awards, which recognize all those involved in global maritime search and rescue (SAR) efforts.The IMRF Awards acknowledge those that have shown excellence in their field, developed innovative technology and equipment, or acted as a role model to inspire others. The awards also shine a light on those colleagues who offer the tireless support…
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 $1.45 billion awarded through PIDP so far.
Capesize Order Book Slips to 5% of Fleet
“At the start of October, the capesize order book was at 20 million DWT, a mere 5% of the capesize fleet. The contracting of newbuild capesize ships has gradually decreased since its peak in 2013 and only 5 million DWT were contracted so far in 2023, down 4% y/y. Low freight rates paired with a young fleet are keeping the order book small,” says Filipe Gouveia, Shipping Analyst at BIMCO.Contracting of newbuild ships typically increases following periods of high freight rates.
Insights: Blaine Dempke, CEO, Markey
Established in 1907 as the Industrial Revolution arrived to Seattle, Markey is the oldest privately-held winch manufacturer in the United States today. The company was formed in the Georgetown District of what later became known as King County, Wash. The Markey sign above its original manufacturing plant, on Horton Street, is still retained, although Markey has since moved to its current facility on 8th Avenue South.Markey was a major supplier to the U.S.
Fearing China, South Korea Targets Contractors on Taiwan Navy Submarines
South Korean authorities cited the risk of Chinese economic retaliation when they charged marine technology firm SI Innotec last year with violating trade laws for its work on Taiwan's new military submarine program, according to a police document seen by Reuters and two people familiar with the matter.In a Feb. 17, 2022, affidavit to a judge seeking the arrest of SI Innotec executive director Park Mal-sik…
GMS: Pakistan and Bangladesh Lagging Behind Alang
As deals continue to be concluded into Alang, the Indian ship recycling sector remains on a positive footing overall, with Pakistan and (especially) Bangladesh still lagging behind, reports cash buyer GMS.Despite steel plate prices coming off by about US$ 11/Ton and the Indian Rupee weakening marginally over the course of the week, the overall outlook for India remains positive.Several ship recyclers…
ClassNK Contributes to Social Implementation of MASS
ClassNK is taking a leading role in the implementation of safe and efficient maritime autonomous surface ships (MASS) through a program of research, rule-development, technology trials and certification.While the regulatory framework covering MASS remains a work in progress, it is clear that autonomous ship technologies are already having a transformative effect on shipping.By autonomously executing…
Growing Tanker Fleet, Cheaper Freight Challenge Russian Oil Price Cap
Russian crude oil producers are enjoying the cheapest costs to ship to refiners in China and India in almost a year thanks to a growing number of vessels plying the routes…
Fatigue, Complacency a Factor in Washington State Ferries Allision -NTSB
Fatigue and complacency led to a Washington State Ferries passenger and car ferry striking a mooring structure, or dolphin, at a Seattle ferry terminal last year, the National Transportation Safety Board (NTSB) said Thursday. The contact resulted in $10.3 million in damages to the vessel and $300,000 in damages to the dolphin.The Cathlamet had crossed the Puget Sound with 94 people on board and was approaching the Fauntleroy Ferry Terminal on July 28…