The Times News

Shipping group Maersk raised its full-year profit guidance after reporting first-quarter earnings on Thursday, citing strong demand and higher freight rates as ships sail for longer to avoid conflict in the Red Sea.The company, viewed as a barometer of world trade, said that shipping disruptions caused by Houthi militants' attacks on vessels in the Red Sea were expected to last at least until the end of the year, adding that growth in demand for container shipping had been stronger than forecast."The container volumes we see today are quite high compared to GDP growth in the world economy…

The U.S. House Homeland Security Subcommittee on Transportation and Maritime Security will hold a hearing to discuss delays in the U.S. Coast Guard’s (USCG) shipbuilding and acquisitions programs.The hearing, announced by the subcommittee's chairman, Rep. Carlos Gimenez (R-Fla.) on Wednesday, will take place on May 7. It will examine the USCG's shipbuilding and acquisitions process, the state of efforts to modernize the service’s fleet and ways in which the Department of Homeland Security (DHS) can facilitate faster turnaround times for USCG acquisitions programs…

Shares of Viking Holdings rose 9% in their debut on the New York Stock Exchange on Wednesday, giving the travel and cruising company a valuation of $11 billion.Viking opened at $26.15 compared with its initial public offering (IPO) price of $24 in a stellar debut, amid a rebound in stock market listings and at a time when cruise stocks have delivered outsized returns.Founded in 1997, Viking provides destination-focused itineraries including a shore excursion at every port and an onboard and onshore program through performances of music and art, cooking demonstrations, port talks and guest lect

The El Nino climate phenomenon, not climate change, drove lower rainfall last year that reduced the Panama Canal's water levels and contributed to shipping restrictions that disrupted global trade, a study released on Wednesday found.Prioritizing water for human consumption rather than for the canal also played a role in shipping restrictions, according to the study by research consortium World Weather Attribution.Panama experienced its third-driest year on record in 2023, leading…

A new union deal aims to help bolster the workforce of the U.S. Navy shipbuilding and repair industrial base, which has struggled alongside many other sectors to attract and retain the volume of employees needed to achieve efficient operations.The International Brotherhood of Boilermakers (IBB) and the Bartlett Maritime Corporation (BMC) have signed an agreement as part of ongoing efforts to mobilize skilled workers across the Midwest in support of critical Navy programs.It permits…

Logistical constraints at the Port of Vancouver mean waterborne oil exports from the highly anticipated Trans Mountain pipeline expansion due to start up on Wednesday may only be around half what the Canadian government-owned corporation has forecast, traders and shipping sources said.The C$34 billion ($24.82 billion) project to nearly triple the flow of crude from Alberta to Canada's Pacific Coast to 890,000 barrels per day is scheduled to start operating on May 1 after years of regulatory delays and construction setbacks.The extra 590…

SCHOTTEL will equip Guangzhou Port Group’s latest e-tug with two RudderPropellers type SRP 360 in the LE-Drive variant. The new harbor tug measures 37.9 x 10.5m and will be mainly used for berthing assistance, escorting and towing in the Port of Guangzhou, China. Each SRP has an input power of 1,500 kW and a propeller diameter of 2.2m. The 360-degree steerable thruster combines maximum maneuverability and bollard pull with outstanding efficiency during free sailing, providing…

Today’s evolving maritime security risks pose all-too-familiar threats to international shipping, and as just one of the many causes of fatigue, they add to the cognitive burden already faced by watchkeepers. But Groke Technologies can boost safety onboard, says co-founder and CEO Juha Rokka.Life at sea is already physically and mentally demanding. Crewing levels are tight, work hours are long and irregular, watchkeepers are required to perform administrative tasks while on the bridge…

Simulation-based training has its whole-of-ship/whole-of-team scenarios, but zooming in, the industry is now working on more specific targets.We have a close relationship with technology, evidenced by, for example, the phones we are estimated to unlock around 50-80 times a day. It has changed us. Half the people surveyed in a 2022 King’s College London study said that they feel like their attention span is shorter than it used to be. They are wrong, though, if they think that the average attention span of adults today is just eight seconds, one second less than goldfish.

EST-Floattech has been selected by KOTUG International to provide its containerized energy storage solution with Octopus Series energy modules for the E-Pusher 1 (Type M), the world’s first fully electric pusherboat operated by Cargill.The vessel was built by Padmos, and EST-Floattech worked with the yard, Sea and Shore, and Gebhard Electro to realize the system. The container is ESTRIN-Certified and has a capacity of 2MWh. It was designed and constructed in a little over half…

Belships announced has expanded its newbuild program with two new 64,000 dwt Ultramax bulk carriers scheduled for delivery in 2028.The Norwegian-based company now has a total of 10 newbuilds under construction at Japanese shipyards with delivery between 2024 and 2028. All vessels are leased on time charter for a period of 7 to 10 years from delivery, with purchase options around current market levels. There is no obligation to purchase any of the vessels. Cash breakeven for the vessels upon delivery is about $14…

Simulation-based training has its whole-of-ship/whole-of-team scenarios, but zooming in, the industry is now working on more specific targets.We have a close relationship with technology, evidenced by, for example, the phones we are estimated to unlock around 50-80 times a day. It has changed us. Half the people surveyed in a 2022 King’s College London study said that they feel like their attention span is shorter than it used to be. They are wrong, though, if they think that the average attention span of adults today is just eight seconds, one second less than goldfish.

If nothing else, building vessels in the U.S. is a complicated business.In a session on the domestic shipbuilding marketplace, at Marine Money’s late-November 2023 conference held in New Orleans, Ben Bordelon, president and CEO of Bollinger Shipyards (with more than a dozen facilities, in Mississippi and Louisiana), described his company’s architecture as a “three-legged stool approach: commercial newbuilds, government newbuilds and repair/conversion capabilities”.On the same panel…

For 15 years the Maritime Risk Symposium (MRS), an annual three-day event, has brought together government and maritime industry leaders, port representatives, international and domestic researchers and solution providers to examine current and emerging threats to maritime security. World events highlight that maritime security is increasingly at risk during the current period of great-power competition and ongoing conflicts. The active competition between nations who are not…

The U.S. Environmental Protection Agency (EPA) has issued the final air quality permit for Dominion Energy’s 2.6 GW Coastal Virginia Offshore Wind (CVOW) project located off the coast of Virginia Beach in the United States.Issued on April 9 following a 30-day public comment period, the permit authorizes the construction and operation of the largest offshore wind project in the U.S.

Partners CY Shipping and BigLift Shipping have ordered two new heavy transport vessels (HTVs), increasing their HTV fleet to six vessels.The first vessel, owned by CY Shipping will be delivered in the fourth quarter of 2025, while the second vessel, owned by BigLift Shipping, is schedule for delivery in second quarter of 2026.Newbuilding contracts for the two new HTVs have been signed with Jing Jiang Nanyang Shipbuilding in China. The vessels, jointly designed by CY Shipping and BigLift Shipping…

Jennifer Carpenter joined The American Waterways Operators (AWO), the national trade association representing the inland and coastal tugboat, towboat and barge industry, in August 1990 and became its president and CEO in January 2020. She highlights some of the greatest focus areas for the 80-year-old trade group—simultaneously looking at both the present day and the road ahead.The towboat, tug and barge industry is in a period of rapid evolution. How is AWO—now in its 80th year…

Chinese automakers and shippers are ordering a record number of car-carrying vessels to support a boom in EV exports, data showed, putting China on course to amass the world's fourth-largest fleet by 2028.China currently has the world's eighth-largest fleet with 33 car-carrying ships, showed data from shipping consultancy Veson Nautical. Japan has the world's largest with 283 ships, followed by Norway's 102, South Korea's 72 and Isle of Man's 61.But Chinese companies have 47 ships on order, accounting for a quarter of all orders globally.

The shipping industry's pledge to limit its carbon footprint may suffer a setback as the current Red Sea crisis prompts it to use more vessels and take longer routes to ensure the smooth sailing of global maritime trade.Iranian-backed Houthi militants' attacks on vessels passing through the southern Red Sea have choked trade through the Suez Canal, driving many container shipping companies to add 10-14 days to the voyages between Asia and Europe and add more vessels.The disruption…

The cargo ship Dali knocked down three main truss spans, constructed with connected steel elements forming triangles, on the Francis Scott Key Bridge just seconds after crashing into one of the bridge piers early on Tuesday morning, March 26, 2024.The bridge collapse happened so fast that it left little time for the work crews on the bridge to escape. Civil engineers like me have been paying attention to this disaster, because we want to find ways to make infrastructure like these large bridges more resilient. For a bridge this large to collapse would require a catastrophic collision force.

Manta Marine Technologies (formerly known as Yara Marine Technologies) has completed installation and commissioning of onboard shore power systems for three Finnlines vessels: the Finnlady, the Finnmaid and the Finnstar.The installations, onboard RINA-classed Finnlines RoPax vessels Finnstar, Finnmaid and Finnlady support Finnlines’ commitment to decarbonize itsfleet and reduce the environmental impact on shore-side communities.Thomas Doepel, Finnlines Deputy CEO Finnlines, said…

With supply chain attacks on the rise, and nation-state attackers constantly looking for new ways to disrupt national security and economic stability, one of the most vulnerable areas is the security around our maritime operations. The Biden-Harris Administration's recent Executive Order to fortify the cybersecurity of U.S. ports underscores this concern, spotlighting the urgency of addressing vulnerabilities in a sector that drives over $5.4 trillion in economic activity annually.

DNV has presented HD Hyundai with a general approval for ship application (GASA) for a new high-strength composite hybrid support system for independent tanks on liquefied gas carriers.In a world-first, HD Hyundai’s concept is fabricated with a fusion of carbon fiber-reinforced plastics (CFRP) with a tensile strength 10 times greater than steel, significantly enhancing structural stability.The new system offers robust structural supports, enabling independent tanks to withstand upward force from floatation in case of hold space flooded.