Ukraine Seeks to Extend Shipping Safe Passage Deal Beyond Grain
Three grain ships left Ukrainian ports on Friday while the first inbound cargo vessel since Russia's invasion was due in Ukraine to load, as Kyiv called for the safe passage deal to be extended to other cargoes such as metals.The July 22 deal marked a rare diplomatic breakthrough as war rages in eastern Ukraine, with Kyiv trying to rebuild its shattered economy after more than five months of conflict."We expect that the security guarantees of our partners from the U.N.
Baltic Dry Index Slips to Six-month Low
The Baltic Exchange's main sea freight index dipped to a near six-month trough on Friday and registered its worst week in more than two months, hit by weakness across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 43 points to 1,560, its lowest since Feb. 8.Neils Rasmussen, chief shipping analyst at BIMCO, attributed recent declines…
Atlas Receives $3.64 Billion Takeover Offer from Poseidon
Asset manager Atlas Corp said on Thursday it received a takeover offer from consortium group Poseidon Acquisition Corp in an all-cash deal for $3.64 billion.Poseidon, which comprises Atlas' board chairman David Sokol, affiliates of Canadian investment company Fairfax Financial Holdings Ltd, the Washington Family, and Japanese shipping company Ocean Network Express Pte Ltd, has made an offer to the asset manager for $14.45 cash per common share.The offer represents a 24.9% premium to Atlas' closi
Austal Delivers Second Evolved Cape-class Patrol Boat
Australian shipbuilding group Austal Limited announced its Austal Australia arm has delivered the second of eight Evolved Cape-class Patrol Boats (ECCPB) to the Royal Australian Navy.The vessel, ADV Cape Peron, was officially accepted by the Commonwealth of Australia.Austal Limited Chief Executive Officer, Paddy Gregg said the delivery of the second Evolved Cape-class Patrol Boat highlights the critical importance of the vessel as a capability to the Royal Australian Navy…
Three More Ships with Grain Leave Ukraine Under Landmark Deal
Three ships loaded with grain under a recently concluded deal have left Ukrainian ports, the Turkish Defense Ministry and Reuters witnesses said on Friday.The Joint Coordination Centre in Istanbul, which groups Russian, Ukrainian, Turkish and U.N. personnel, said two ships were setting off from Chornomorsk and one from Odesa.The three vessels carrying a total of about 58,000 tonnes of corn have been…
Rhine Water Level Falls Again in Germany, Raising Freight Costs
Water levels on the Rhine in Germany continue to fall in hot weather, sending shipping costs higher because vessels cannot sail on the river fully loaded, vessel brokers said on Friday.Freight shipping on the river continues but with vessels sometimes forced to sail 75% empty.Low Rhine water will also hit output from two German coal-fired power stations in the coming months.The water level is particularly low at the chokepoint of Kaub near Koblenz.
Maersk to Acquire Logistics Firm Martin Bencher Group
Shipping group A.P.
Supertankers Waiting to Load Murban Crude After Floods Shut Fujairah
At least four supertankers are waiting to load Murban crude off Fujairah in the United Arab Emirates a week after floods shut operations at the oil hub, according…
SBM Orders Seventh Fast4Ward Hull
Dutch FPSO leasing specialist SBM Offshore has ordered its latest Fast4Ward multi-purpose floater hull as it marked a new record level order book at $31.1 billion.
KOTUG To Support Liza FPSOs Off Guyana
KOTUG's subsidiary KOTUG Guyana has been awarded a second contract by ExxonMobil affiliate Esso Exploration and Production Guyana to support operations in Guyana. KOTUG’s latest addition, the 120 tonnes bollard pull strong SD Honour, will join the fleet of dedicated offshore terminal tugs supporting the two floating production, storage and offloading vessels (FPSOs), Liza Destiny and Liza Unity, on the Stabroek Block…
Revell Takes the Helm at SIGTTO
The Society of International Gas Tanker and Terminal Operators (SIGTTO) has appointed Ian Revell as its new Chief Executive Officer & General Manager, in succession to Capt. Andrew Clifton.SIGTTO President, Steffen Jacobson, said, “I am very pleased to welcome Ian Revell to the Society and look forward to working with him as he undertakes this key role. We have made a considerable effort to find the right permanent candidate for this position…
Inside the St. Lawrence Seaway's Growing Economic Importance
The St. Lawrence Seaway is made up of a broad network of interconnected infrastructures. Channels, canals, port facilities and fleets illustrate the connections between transportation equipment, industrial production and the artificial, human-made environment.This valuable infrastructure represents significant capital investments that have already been amortized. The maintenance, modernization and adaptation of the sea-river network make it possible to meet the demands for capacity…
Bollinger Delivers 50th Fast Response Cutter to the USCG
Louisiana shipbuilding group Bollinger Shipyards has been humming along building Fast Response Cutters for the U.S. Coat Guard, and this week marked a milestone with its 50th FRC delivery, the USCGC William Chadwick, officially handed over on Thursday in Key West, Fla.“It’s incredibly meaningful that we could deliver the 50th FRC, the USCGC William Chadwick, on the Coast Guard’s 232nd birthday and that she’ll be homeported in Sector Boston…
Ukraine Expects First Vessel to Arrive to Collect Grain
A Turkish bulk carrier is expected to arrive in the Ukrainian Black Sea port of Chornomorsk on Friday and will be the first vessel to arrive at a Ukrainian port during Russia's invasion, a spokesperso
Hybrid RoRo Eco Adriatica Delivered to the Grimaldi Group
With the delivery of the Eco Adriatica, the fleet of Grimaldi Green 5th Generation (GG5G) class hybrid vessels is almost complete. This is the 11th of 12 state-of-the-art units ordered from the Chinese Jinling shipyard located in Nanjing. Designed by Knud E. Hansen, the GG5G-class ships are not only the largest ro-ro units in the world for short sea shipping, but also the most eco-friendly.The Eco Adriatica flies the Italian flag…
Shift Clean Energy Names Hughes COO
Energy storage solutions company Shift Clean Energy announced it has named Mark Hughes to its its executive team as chief operating officer.Hughes brings a background in manufacturing and supply chain management, and a wealth of international experience growing companies and leading operational improvement programs across a range of industries from automotive to aerospace. He will support Shift in its growth to provide the marine and industrial industries with energy storage solutions…
Alfa Laval Acquires BunkerMetric
Alfa Laval has signed an agreement to acquire BunkerMetric, a Scandinavian software company that develops advanced decision support tools for the marine bunker segment. The company will be merged into weather intelligence software and decision support services frim StormGeo, now part of Alfa Laval.Headquartered in Denmark, BunkerMetric helps ship operators and bunker procurement departments find the best bunker procurement plan and improve voyage margins.
MSHS Acquires West Coast Pacific Power Group
Motor Services Hugo Stamp, Inc. (MSHS) said it has acquired marine, power generation and commercial automatic transmissions business Pacific Power Group (PPG).The PPG/MSHS partnership will involve both companies functioning as separate brands. The partnership will also have the capability to leverage broader and deeper expertise through its technical talent located across North America. PPG’s nine facilities extend services throughout the Western United States…
TUI Cruises' Mein Schiff 6 Connects to Shore Power in Kiel
TUI Cruises said a second vessel in its cruise ship fleet has successfully tested the use of shore power in port.Earlier this week, the German cruise ship operator's Mein Schiff 6 received shore power for the first time in SEEHAFEN KIEL Cruise GmbH & Co. KG (Port of Kiel), making it the second TUI Cruises ship behind Mein Schiff 4 to have made a shore power connection.Technicians and engineers carried…
Nautilus Labs Hires Sundsted as CTO
Nautilus Labs, the technology firm unlocking commercial decarbonization for the ocean supply chain, announced the designation of Todd Sundsted as Chief Technology Officer (CTO).In his new role, Todd Sundsted, who is based in New York, will lead product development, engineering, and data science, including the enhancement of Nautilus’s AI capabilities and best-in-class machine learning models. Prior to joining Nautilus Labs…