Oil Prices Ease Lower As Investors Await Federal Reserve Decision on Interest Rates
Oil prices eased on Wednesday after data showing an increase in U.S. diesel stockpiles stoked worries about demand, while investors awaited the U.S. Federal Reserve's decision on interest rates.Brent crude futures lost 25 cents, or 0.37%, to $68.22 a barrel by 1:20 p.m. EDT (1720 GMT) while U.S. West Texas Intermediate crude futures were down 21 cents, or 0.33%, at $64.31.U.S. crude inventories fell sharply last week with a jump in exports and a sharp decline in imports…
Nigerian President Lifts Emergency Rule, Resuming Crude Exports
Nigerian President Bola Tinubu on Wednesday lifted a six-month emergency rule in Rivers State, reinstating Governor Siminalayi Fubara and other officials, after saying that a constitutional crisis that had paralysed governance had been resolved.The emergency rule, imposed on March 18, followed a standoff between Fubara and the state legislature that disrupted budget approvals and left the government in limbo.
Shipnet Celebrates Consistent Growth for Dry Docking Software
Norway-based maritime technology business, Shipnet, has announced consistent growth since its launch in 2021 for its dry docking software with project numbers at an all-time high.The technical project management tool which aids businesses create efficiencies while their vessels are in dry dock has seen year-on-year growth since 2021 and has now conducted a total of 486 projects.“We released our dry…
Poland Urges EU Members to End Russian Oil Imports by 2026
Poland has urged European Union member states that are still buying Russian energy to end those imports by the end of 2026 and will offer them help towards that effort, Energy Minister Milosz Motyka said on Wednesday.The Druzhba oil pipeline delivers Russian oil to Hungary and Slovakia, which continue to buy energy supplies from Russia after other EU nations cut ties following Russia's full-scale invasion…
Greece Security Council Approves Purchase of Fourth Belharra Frigate from France
Greece's security council, KYSEA, approved on Wednesday the purchase of a fourth Belharra frigate from France to modernise its armed forces and as it tries to keep pace with historic rival Turkey, two government sources told Reuters.Greece has a long-standing dispute with its NATO ally Turkey over maritime waters, and the security council meeting comes after Ankara said it would conduct scientific research in the Aegean Sea in the coming days.Athens agreed in 2021 to procure new Belharra frigate
The Switch Celebrates 500 Shaft Generator Orders
The Switch, a supplier of permanent magnet shaft generators, celebrates its 500th shaft generator order. This milestone underscores the company’s pivotal role in supporting the maritime industry’s transition to cleaner, more efficient shipping.Shaft generators harness the main engine’s power to produce electricity for a vessel’s onboard systems, reducing reliance on auxiliary diesel generators that run with lower fuel efficiency.
MJTTF Launches Seafarer Training Frameworks for Ships Powered by Ammonia, Methanol, Hydrogen
The Maritime Just Transition Task Force (MJTTF) has released frameworks designed to facilitate the development of training programs for seafarers working on ships powered by ammonia, methanol and hydrogen.The training frameworks address the needs of seafarers in entry-level or operational roles and senior officers. They are accompanied by comprehensive instructor handbooks.All material is accessible at: mjttf.orgThe MJTTF will also release guidelines for general familiarization programs…
ESL Joins World Shipping Council’s Cargo Safety Program to Prevent Ship Fires
Committed to minimizing such risks and creating a safe and seamless shipping experience for its customers, Emirates Shipping Line (ESL) has joined the World Shipping Council’s (WSC) recently launched Cargo Safety Program.The occurrence of ship fires continues on an upward trend, calling for collective action across the maritime shipping industry, to safeguard crews, cargo, vessels, and the marine ecosystem.Combining AI-powered screening technology and standardized inspection methodologies…
Baker Hughes Inks Multi-Year Petrobras Deal for Offshore Stimulation Vessels
Baker Hughes has signed a multi-year contract with Petrobras to extend deployment of its Blue Marlin and Blue Orca stimulation vessels, supporting offshore oil and gas production in Brazil’s post and pre-salt fields.The award, which followed an open tender, also covers the supply of associated chemicals and services.The vessels will deliver advanced chemical treatments to maximize production in brownfield and greenfield wells…
Empire Energy Finds Offshore Wind Logistics Partner
Offshore wind services firm Empire Energy and logistics giant Kuehne+Nagel have entered into a partnership to provide integrated solutions for offshore wind developers and OEMs, combining project delivery with global logistics capabilities.The companies said the collaboration will reduce complexity and risk while increasing efficiency across the offshore wind lifecycle, from turbine assembly, commissioning and operations to heavy lift transport…
Astro Offshore Expands Fleet with Five New Vessels
Offshore vessel operator Astro Offshore, an Adani Group company, has acquired five offshore vessels en bloc, raising its fleet size to 49 ships and strengthening its presence in West Africa.The deal includes four platform supply vessels (PSVs), two of which are diesel-electric, and one high-specification 86-meter multipurpose supply vessel (MPSV) equipped with a 160-tonne crane.With the latest additions…
DNV Certifies OceanWings’ Wind Assisted Propulsion System
OceanWings has received a Type Approval Design Certificate (TADC) from DNV, marking a major milestone in the industrial validation of the company’s automated wingsail propulsion system.The certificate confirms that the design of the rigid OceanWings system, in both its tiltable and fixed configurations, meets DNV’s rigorous technical and regulatory standards for safety, reliability, and operation.The…
MSC Taps the Digital Revolution to Cut Fleet Emissions, Fuel Burn
It’s trite (but true) to say that in the maritime industry’s quest to cut emissions, there is no ‘silver bullet’ solution, rather a series of small step changes that cumulatively add up over time. Maritime Matters: The Marinelink Podcast, recently hosted Giuseppe Gargiulo, Head of Newbuildings, MSC and Daniel Bischofberger, CEO, Accelleron, to specifically discuss the development and delivery of Accelleron’s FITS2 technology…
American Industries Leveraging 5G Advantages
The National Association of Manufacturers and CTIA has released a new joint report highlighting the key role 5G is playing in manufacturing in America.The report, "How 5G Is Modernizing Manufacturing," explores how manufacturers and wireless providers are leveraging robust commercial 5G networks to fuel the Manufacturing 4.0 movement and make American factories safer, more efficient, and more innovative.The…
Korean Partners to Develop Humanoid Robots for Shipyards
HD Hyundai Samho has signed an MOU with LG CNS and HD Hyundai Robotics to co-develop AI humanoid robots and logistics automation technologies as part of a move to accelerate the creation of a smart, sustainable shipyard.The partnership focuses on humanoid robots capable of handling complex shipyard tasks and autonomous mobile robots for logistics automation.HD Hyundai Samho will provide manufacturing data and infrastructure…
Wiernicki: IMO Net-Zero Framework is A Starting Point
“The IMO has a critical role in delivering a unified global framework, something the industry needs if we are to avoid the fragmentation and inefficiencies arising from a patchwork of regional regulation. This is important but it is equally important we get it right.”That was the message to the industry from ABS Chairman and CEO Christopher J. Wiernicki in a keynote address to the Capital Link Conference…
Coast Guard Awards Contract for Mariner Credentialing Program Modernization
The U.S. Coast Guard has awarded a blanket purchase agreement to Stealth Solutions Inc. to modernize the service’s Mariner Credentialing Program (MCP) information technology system and support revitalization of the maritime workforce and industry.The MCP is essential to vetting and denying criminals access to critical maritime infrastructure and supporting the Marine Transportation System (MTS). The National Maritime Center (NMC) processed nearly 75…
Australia, Papua New Guinea Sign Defense Communique
Australian Prime Minister Anthony Albanese met his Papua New Guinea counterpart James Marape in the capital of the largest Pacific Island nation on Wednesday for defense talks after plans to sign a landmark mutual defense treaty stalled.The two leaders instead signed a defense communique.Marape told reporters it was in the two countries' mutual interest to work side by side on defense."I made a conscious choice that Australia remains our security partner of choice…
Puerto Rico Inks LNG Contract with New Fortress Energy
Puerto Rico has negotiated a $4 billion LNG contract with New Fortress Energy, Governor Jenniffer Gonzalez said on Tuesday in a post on social media.The supply deal, which comes after talks for a much larger contract broke down in July, reduced the term to seven years from 15 years - with the option to extend for an additional three years - and also eliminated exclusivity clauses.Gonzalez said prices for the LNG cargoes were more competitive…
Dutch Government to Grant $1.18b in Subsidies for Offshore Wind Farms
The Dutch government will grant around 1 billion euros ($1.18 billion) in subsidies next year for the construction of offshore wind farms with a total capacity of 2 gigawatt (GW), it said on Tuesday.Tenders for the wind farms had been put on hold in May, as prospective builders had said they saw no viable business case without subsidies.The Netherlands last year already pushed back plans to increase offshore wind capacity from 4.7 GW to 21 GW to the end of 2032 instead of 2030, citing costs and
