Traffic in Suez Canal Normal After Ship Breakdown Dealt With
Shipping traffic in the Suez Canal was proceeding normally on Monday after tugs towed a cargo vessel that broke down during its passage through the waterway, the Canal Authority said.The breakdown was expected to cause only minor delays, with convoys of ships resuming regular transit by 11:00 local time (09:00 GMT), shipping agent Leth said.The M/V Glory, which was sailing to China, suffered a technical fault when it was 38km into its passage southward through the canal…
Aker Solutions, Drydocks to Upgrade Petrojarl Knarr FPSO for Deployment at Equinor's Rosebank Field
Norway's Aker Solutions will upgrade Altera Infrastructure's Petrojarl Knarr floating production storage and offloading vessel (FPSO) to be redeployed at Equinor's Rosebank field development, offshore the UK. Petrojarl Knarr was built by Samsung Heavy Industries in South Korea and delivered in 2014. It was operating on the Knarr field offshore Norway from 2015 until May 2022.The development concept…
Italy Rejects NGO Ship's Request for Closer Safe Port
The Italian government has rejected a request from a ship run by Doctors Without Borders non-governmental organisation (NGO) to assign a safe port closer to the place where it rescued 73 migrants…
C&C Marine to Build Four Damen Multi Cat Workboats
Belle Chasse, La. shipbuilder C&C Marine and Repair will build four new Damen Multi Cat 3013 workboats to be delivered over the course of 2023.The first two vessels will be delivered to Galveston, Texas based dredging contractor Callan Marine, and the second two vessels will be built on spec for sale or lease to the U.S. market.The Multi Cat 3013 design comes from the Netherlands-based shipbuilding conglomerate Damen Shipyards Group, which licenses its designs to U.S.
China's COVID Woes Are Pressuring Supply Chains
Declining world supply chain pressures are being challenged by new disruptions in China tied to the coronavirus pandemic, the New York Federal Reserve reported on Friday.The regional Fed bank's December Global Supply Chain Pressure Index ticked down to 1.18 from November's revised 1.23 reading. According to the report, supply chain pressures have been easing notably since the spring of last year and bottomed in September…
$3 Billion Forecast to be Invested in New Anchor Handlers to Meet Floating Wind Demand
Floating wind is an emerging technology. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 megawatts (MW). By 2030, close to 11 gigawatts (GW) of commercial scale wind farms are planned to be commissioned in Europe and the Asia Pacific Region. Then, 2030-2035 will see a period a high commissioning activity as the U.S. joins established European and Asia Pacific markets.
The Top 10 Offshore Wind Energy Trends to Watch in 2023
The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW at the end of 2022 to 240 GW by 2030 and over 410 GW by 2035. But the sunny outlook must be balanced with some building dark clouds. As we prepare for the new year, let us look at ten factors that will shape the offshore wind sector in 2023.1. Solid foundations: Optimism for the…
Black Sea Shipping Rates Soar 20% as Reinsurers Cut Cover
Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said.The Black Sea is crucial for the shipment of grain, oil and oil products. Its waters are shared by Bulgaria, Georgia, Romania and Turkey, as well as Russia and Ukraine. Since Jan. 1, when policies are renewed…
NYK President Nagasawa Outlines Challenges, Priorities in 2023
In his annual New Years' address to employees, NYK President Hitoshi Nagasawa warned that while markets, particularly the containershipping market, will be more challenging in 2023 compared to the past two years, overall the group has "long anticipated that the strong tailwind would not last long," and in turn has "implemented structural reforms in the dry bulk business as well as cost reductions in various areas…
Venezuela's Oil Exports Fall in Spite of Iranian Assist
Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents.Exports this year are expected to get a lift after the United States relaxed oil sanctions by authorizing some partners of state-run firm Petroleos de Venezuela (PDVSA) to resume taking Venezuelan crude.Iran expanded its role in Venezuela last year…
Diesel Consumption to Fall with US Manufacturing Downturn
U.S. manufacturers reported business activity declined for the second month running in December and the sector appears to be on the leading edge of a recession. The slowdown in manufacturing and freight has already dampened consumption of diesel and other distillate fuel oils, and consumption is likely to fall if the manufacturing downturn deepens.The Institute for Supply Management’s manufacturing…
Germany's HHLA, China's Cosco Close on Hamburg Port Deal
German logistics firm HHLA and Cosco are close to finalizing an agreement for the Chinese shipping giant to take a stake in a terminal at Hamburg's port, HHLA said on Friday."We can confirm that...
China Eases Australian Coal Ban
The increasing need to secure energy supplies after easing COVID-19 restrictions has pushed China to gradually resume Australian coal imports and urge domestic miners to boost their already record output.The lifting of the unofficial ban on Australian coal imports, which were halted in 2020 in a fit of Chinese pique over questions on COVID's origins, is the clearest sign yet of the renewed ties between them.
US Warship Sails Through Sensitive Taiwan Strait; China Angered
A U.S. warship sailed through the sensitive Taiwan Strait on Thursday, part of what the U.S. military calls routine activity but which has riled China.In recent years, U.S. warships, and on occasion those from allied nations such as Britain and Canada, have sailed through the strait, drawing the ire of China, which claims Taiwan against the objections of its democratically elected government.In a statement, the U.S.
Saab Receives Order for Life Extension of Swedish Mine Countermeasures Ships
Saab has signed an agreement with FMV on the life extension of two Koster-class mine countermeasures ships. The order value is SEK 350 million. The contract also includes options for FMV to order measures regarding the remaining three ships in the Koster-class. The total value of the options are SEK 270 million.The contract with FMV means that Saab will carry out life extensions of two Koster-class mine countermeasures ships.
Personal Locator Beacons Improve the Chance of Rescue at Sea
New Year’s Eve is a time of celebration and remembrance. Three years ago, on December 31, 2019, as the new year was being rung in across the lower 48 states, a tragedy was playing out in icy Alaskan waters. The fishing vessel Scandies Rose, with seven crew members aboard, encountered severe icing conditions and high winds and waves as it transited from Kodiak to fishing grounds in the Bering Sea. The crabber tried to make it to Sutwik Island to shelter from the storm…
Hess Signals Guyana's Seventh Oil Platform
Hess Corp on Thursday said drilling results expected this month could add a seventh platform in Guyana, which would lift the nascent oil producing nation's output above the 1.2 million barrels of oil equivalent per day planned.The U.S. oil producer is part of the Exxon Mobil Corp-led consortium that controls all production in the tiny South American nation. The group has confirmed so far plans for six floating production vessels in the country…
New Whale Protections to Impact Shipping Lanes off California
The International Maritime Organization (IMO) has adopted a U.S. proposal to increase protections for endangered blue, fin and humpback whales off the California coast. The proposal takes effect this summer and expands areas that vessels should avoid to give whales more space, and extends vessel traffic lanes west of, in and around NOAA’s Channel Islands National Marine Sanctuary.The Channel Islands…
ATB Tug Partially Sinks in Port Milwaukee
Multiple agencies are responding to prevent any potential environmental damages after a tug partially sank at its moorings on the Kinnickinnic River in Port Milwaukee.The Coast Guard said its watchstanders at Sector Lake Michigan were notified by the National Response Center at 11:27 a.m. on Monday that the vessel Michigan, part of an articulated tug and barge (ATB) unit, began taking on water and…
What's in Store for US Offshore Wind?
January brings with it the expectation that the United States' first commercial wind farm in federal waters will start generating power by year end, the promise that permitting for close to 5 gigawatts (GW) of projects will be finalized within the year and that federal agencies will auction leases containing more than 15 GW in the Gulf of Mexico, in the Central Atlantic and offshore Oregon by the end of the year.However…
