Patrick News

Shares of Norwegian Cruise Line Holdings fell more than 12% after the operator's downbeat first-quarter revenue overshadowed a raise in annual profit forecast on Wednesday.Expectations for cruise operators have generally become high after strong booking trends and demand drove up their results and shares last year.Shares of Norwegian and its rival Carnival have seen their growth temper from those highs, in part due to concerns around cost pressures and their brands' exposure to the Middle East conflict.Meanwhile…

U.S. troops have begun construction of a maritime pier off the coast of Gaza that aims to speed the flow of humanitarian aid into the enclave when it becomes operational in May, the Pentagon said on Thursday.President Joe Biden announced the pier in March as aid officials implored Israel to ease access for relief supplies into Gaza over land routes. Whether the pier will ultimately succeed in boosting humanitarian aid is unclear, as international officials warn of the risk of…

French energy giant TotalEnergies and Oman National Oil Company (OQ) have reached the final investment decision (FID) on the Marsa LNG project, which will feature an LNG plant completely powered by renewable energy that will produce LNG for use as a marine fuel for maritime transportation.Through their joint company Marsa Liquefied Natural Gas (Marsa), TotalEnergies (80%) and OQ (20%) have launched the integrated Marsa LNG project which combines upstream gas production, downstream gas liquefaction…

Cavotec announced it has signed an order for shore power with a global shipping company, valued at about $5 million.The order from an undisclosed global shipping company includes a substantial number of PowerFit shore power units, enabling vessels to connect to shore power with ease while docked. Deliveries are scheduled later this year,Cavotec said.Cavotec’s PowerFit is a complete containerized solution for high voltage vessel connections. By facilitating shore power connections…

Maritime technology companies Helm Operations and Spinergie announced they are teaming up to create a fully integrated fleet optimization platform and centralized source of record keeping.The partnership will integrate vessel management system data from Helm Operations' Helm CONNECT into Spinergie's Smart Fleet Management, including logbook entries, engine room readings, and other essential sources. When combined with Spinergie’s data streams, including AIS, GPS, custom GIS Maps…

A Portuguese-flagged container ship, the MSC Aries, was seized by Iran on April 13 for "violating maritime laws", Iran's foreign ministry said on Monday, adding that there was no doubt the vessel was linked to Israel.Iran's Revolutionary Guards seized the cargo vessel in the Strait of Hormuz days after Tehran vowed to retaliate for a suspected Israeli strike on its consulate in Damascus on April 1. Iran had said it could close the crucial shipping route."The vessel was diverted…

Ørsted and Cadeler have signed a firm long-term lease agreement for a newbuilt wind farm installation vessel, designed to transport up to six XXL monopile foundations and five turbines of over 20 MW per round trip.With the agreement, Ørsted has secured installation vessel capacity from the start of 2027 to end of 2030 for upcoming construction projects.The agreement involves booking a new-built A-Class vessel from Cadeler. The A-Class vessels feature a hybrid design, allowing…

Somerset, N.J. based Mack Boring & Parts Co. has promoted Christopher Ponnwitz to the role of Chief Commercial Officer of Mack Sustainable Energy, a new division for the company.“I am very happy to announce that Chris has moved into this new role, where he will be leading our efforts to further expand and grow the electric marine market, particularly with the ePropulsion product line,” said Patrick McGovern, President and CEO of Mack Boring. “Chris has been an exemplary leader for our company, and he’s a fast learner who has been working relentlessly to promote electric propulsion.

Wärtsilä Gas Solutions, part of technology group Wärtsilä, will supply the cargo handling systems for additional two new very large LPG carrier vessels to be built at the HD Hyundai Heavy Industries in South Korea.The ships have been contracted by Norwegian ship owner Solvang. The order follows a similar one placed in 2023 for five vessels being built at the same yard for the same owner.The very large gas carriers (VLGCs) are of Panamax size and form the next generation of eco-vessels.

Carnival Corp raised its annual profit forecast on Wednesday, anticipating a record year of bookings as the company benefits from a rise in people seeking cruise vacations for the first time.Cruise operators are recording all-time high booking rates as more travelers switch to cheaper sea-borne experiences over expensive land-based alternatives such as booking hotels or flights, providing them more room to raise prices.U.S.-listed shares of the company were flat in volatile trading.

Seattle-based naval architecture and marine engineering firm Elliott Bay Design Group (EBDG) has acquired Coastwise Corporation. The Anchorage, Alaska-based firm—an expert in shallow draft, high-speed aluminum and cold weather engineering—has been rebranded as Coastwise Engineering and will operate as a division of EBDG.As part of the agreement, EBDG acquires Coastwise's assets and adds a staff of more than 50 employees. Coastiwse owner and principal, Patrick Eberhardt, joins EBDG as a full-time employee…

The first towboat of 2024 passed through Lock and Dam 2, in Hastings, Minn. on Sunday, signaling the start of this year's navigation season on the Mississippi River.The U.S. Army Corps of Engineers' St. Paul District said it considers the first tow to arrive at Lock and Dam 2 as the unofficial start of the Mississippi River navigation season, because it means all of its locks are accessible to commercial and recreational vessels.On Sunday, Marquette Transportation Company's Joseph Patrick Eckstein traveled through the lock with 12 barges en route to St.

U.S. President Joe Biden's plan to build a floating U.S. military port to speed up aid to Gaza could take up to 60 days to become a reality and involve more than 1,000 American troops, the Pentagon said on Friday.The Pentagon offered the timeline a day after Biden announced the initiative in his State of the Union speech, as he seeks to cool anger in his Democratic Party over his staunch support for Israel's offensive in Gaza since Oct. 7.The United Nations has warned that widespread famine in the Gaza Strip is "almost inevitable" without urgent action.

Because there are so many different kinds of passenger vessels, the critical topic of passenger safety can sometimes appear as a set of niche topics, each one just distantly connected to another. After all, passengers aboard a cruise ship in the Caribbean face safety issues that are much different than a commuter going from Jersey City to Manhattan or a tourist crossing from the Mukilteo, Wash. ferry terminal to Whidbey Island or a family on a fishing vessel in Miami.Importantly, though, for passenger vessel operators, a commitment to safety is not siloed.

Light Structures’ SENSFIB Hull Stress Monitoring System received the ABS SMART(SHM) Tier 3 Product Design Assessment (PDA) certificate.The SENSFIB Tier 3 Smart Structural Health Monitoring system employs an industry-leading, fiber optic, sensor-based approach for structural health assessment and prediction, calibrated and verified using high-fidelity data for improved accuracy and reliability.The system provides information about the stresses on a vessel’s hull from cargo loading…

The international maritime industry, led by the International Chamber of Shipping, has joined together to express their concern for the seafarers from the Galaxy Leader who have been held hostage and call on the Houthis to release them.Monday February 19, 2024 marks the three-month anniversary since the Houthis seized the Galaxy Leader and its 25 seafarers in the Red Sea.The roll-on/roll-off vehicle carrier was seized on November 19.“The 25 seafarers who make up the crew of the Galaxy Leader are innocent victims of the ongoing aggression against world shipping…

Big data, advanced computers and AI are allowing vessel designers to prepare models that leave essentially nothing to chance.“Lastly, it may be of considerable importance to form from the draught a block model of the vessel from which a still more accurate judgment may be formed of the fitness and beauty of the body. And should any defect be discovered, farther alterations must still be made, till the draught and the model are perfectly approved of. These different alterations and repeated calculations may appear very tedious…

The third and the last train of the Arctic LNG 2 project in Russia has been put on hold but the second train is likely to be installed, the head of stakeholder TotalEnergies' said.The liquefied natural gas (LNG) project in the Russian Arctic has faced challenges from U.S. sanctions imposed on the project last November over the conflict in Ukraine, and subsequent force majeures by shareholders.At the end of 2023 Arctic LNG 2 started tentative production at its first train, which is yet to deliver a first cargo.

Royal Caribbean Group projected 2024 profit above Wall Street expectations after robust demand for cruise vacations and steeper ticket prices helped it beat fourth-quarter earnings estimates on Thursday.With travelers opting for cruises instead of more expensive land-based vacation options, operators are experiencing record levels of bookings compared to pre-pandemic levels, giving them enough room to mark up ticket prices."2023 was an exceptional year, propelled by unmatched demand for our brands from new and loyal guests…

U.S. President Joe Biden hoped to present a firm international response to Yemen's Houthi attacks on Red Sea shipping by launching a new maritime force, but a week after its launch many allies don't want to be associated with it, publicly, or at all.Two of America's European allies who were listed as contributors to Operation Prosperity Guardian - Italy and Spain - issued statements appearing to distance themselves from the maritime force.The Pentagon says the force is a defensive…

U.S. shipping company Overseas Shipholding Group (OSG) announced it will equip all vessels in its fleet with Space X’s Starlink satellite internet service in a move that aims to enhance onboard connectivity for seafarers.Since the introduction to the market of Starlink’s Global Maritime service earlier this year, OSG’s IT department has worked to substantially complete installation of Starlink equipment on every vessel in the fleet of OSG and ATC, with full installation expected by year end…

A total of more than 20 countries have agreed to participate in the new U.S.-led coalition safeguarding commercial traffic in the Red Sea from attacks by Yemen's Houthi movement as more nations join the effort, the Pentagon said on Thursday.Still, the new Pentagon total would suggest that at least eight of the countries who have signed up have also declined to be publicly named, in a sign of political sensitivities of the operation as regional tensions soar over the Israel-Hamas war."We've had over 20 nations now sign on to participate…

Canadian mining company Teck Resources announced it has signed a deal with German shipping company Oldendorff Carriers to use wind propulsion to further reduce CO2 emissions in Teck’s supply chain. The joint investment will see the vessel Dietrich Oldendorff, which carries shipments of Teck steelmaking coal from the Port of Vancouver, outfitted with a Norsepower Flettner Rotor system by mid-2024.The Flettner Rotors generate lift from the wind, which is translated into additional thrust, thereby reducing fuel consumption on voyages across the Pacific.