Geopolitical Events Continue to Shape Ship Recycling Market
“We see geopolitical events take center stage across all shipping sectors (trading and recycling) for yet another week,” reports cash buyer GMS. It is expected to continue through Q3 and likely well into Q4.GMS cites events such as the assassination of one of the founding members of Hezbollah in the heart of the Iranian capital city of Tehran, rockets fired into Israel and expected continued attacks…
China Coast Guard Monitors Philippine Patrol Boats in Sabina Shoal
China's coast guard said it was monitoring Philippine patrol and fishing vessels that have gathered around the contested Sabina Shoal, citing China's "indisputable sovereignty" over the Spratly Islands in the South China Sea.China's coast guard had been monitoring the vessels since Saturday, spokesperson Gan Yu said in a statement late on Sunday.Gan said patrol boats from the Philippine Fisheries and Aquatic Resources Bureau and multiple fishing boats have gathered in the waters near a Philippin
New Zealand Scraps Green Policies to Boost Economy
New Zealand's green credentials are at risk as the government rolls back environmental reforms in a bid to boost a flailing economy and fulfil promises made to its voters.Since taking power last year, Prime Minister Christopher Luxon's center-right coalition announced it will reverse a ban on oil and gas exploration, push the pricing of agricultural emissions back five year and encourage more mining.This…
Japan Kills First Fin Whale in Commercial Whaling Program
Japan’s state-owned whaling company, Kyodo Senpaku, has killed a fin whale off Iwate Prefecture.The 19.6 meter, 55-tonne male was caught using Kyodo Senpaku’s new whaling ship, the 9,300-ton Kangei Maru, which entered operation in March.Japan’s Ministry of Agriculture has added 59 fin whales to its existing quotas for minke whales, Bryde’s whales and sei whales.Fin whales are the second largest of…
Esgian Week 31 Report: Busy Week for Borr Drilling, Valaris, Transocean and Noble
Esgian provides an update on what has been a busy week in the offshore drilling market in its Week 31 Rig Analytics Market Roundup.Report SummaryContractsBorr Drilling has confirmed new contracts for several of its 400-ft jackups, including work for the Arabia I in Brazil, Gunnlod in Malaysia, and Norve in Gabon. Borr stated that these new commitments cover a total 1,779 days and $332 million in contract revenue…
Singapore Oil Spill Clean-Up Ahead of Schedule
Sentosa Development Corporation (SDC) has announced that Siloso, Palawan and Tanjong Beach will reopen for swimming and all sea activities in August, with Siloso Beach being the first to reopen, with immediate effect after an extensive oil spill cleanup operation.The milestone comes one and a half months after the oil spill on June 14, 2024, when the Netherlands-flagged dredger Vox Maxima struck a stationary Singapore-flagged bunker vessel Marine Honour…
Conrad Shipyard Hosts Ceremony for First-of-class US Navy Barge
Conrad Shipyard held a ceremony at its shipyard in Amelia, La. recognizing the first-of-class yard, repair, berthing, messing vessel (YRBM) it is building for the U.S. Navy.Scheduled for delivery to the Navy in San Diego later this year, YRBM-57 will serve as pierside living accommodations for U.S. Navy sailors. It is capable of berthing 199 mixed gender personnel, messing for 300 personnel and includes spaces for medical offices…
Houthis Claim First Attack on Shipping in Two Weeks
Yemen's Iran-aligned Houthi movement said on Sunday that it targeted a Liberia-flagged container vessel in the Gulf of Aden, claiming its first attack on shipping lanes since Israel carried out a retaliatory airstrike in Hodeidah port on July 20.Houthi military spokesperson Yahya Saree said in a televised statement that the MV Groton was attacked by ballistic missiles.British maritime agency UKMTO…
