Wärtsilä's Earnings in Line with Expectations
Finland's Wartsila, a top global marine and energy equipment maker, posted first-quarter earnings roughly in line with expectations on Thursday, citing increased uncertainty in demand and supply in its end markets.Wartsila said its comparable operating profit increased 61% to 65 million euros ($68.25 million) from 41 million in the year-ago quarter, against a mean estimate of 67.2 million euros expected by 14 analysts in a Vara Research poll commissioned by the company.($1 = 0.9524 euros)(Reuter
Seafarer Satisfaction at Eight-year Low, Report Says
The latest Seafarers Happiness Index report, published today by The Mission to Seafarers, reveals the lowest levels of seafarer satisfaction for eight years, with the Index’s measure of overall happiness decreasing from 6.41 to 5.85 and levels dropping across all categories.The survey, undertaken with the support of the Standard Club and Idwal, reports on Q1 2022 and shows that a turbulent start to 2022 on many fronts has severely impacted seafarer happiness.
World Energy Reports: Gas Supply Fears Drive Interest in FSRUs in Europe
Fears of gas supply interruptions due to Russian gas export constraints are driving interest and demand for floating regasification terminals, with contracting activity for oil and gas floaters also being quite active, World Energy Reports said in April 2022 Floating Production Systems Report. Tensions in East Europe and Covid outbreak in China continue to rattle the energy sector. Oil prices remain above $100…
Schottel Expands in South Korea, Japan
The expansion of Schottel’s international network of subsidiaries developed further with the foundation of Schottel East Asia located near Busan. In addition to the growing market in South Korea, business development of the German propulsion expert will now also be intensified in Japan. Business operations were launched in April 2022.Seongki Han has been appointed General Manager of Schottel East Asia.
NYK to Build Its Third LPG Dual-Fuel Very Large LPG / NH3 Carrier
NYK ordered f its third liquefied petroleum gas (LPG) dual-fuel very large LPG / liquefied ammonia gas (NH3) carrier (VLGC) from Kawasaki Heavy Industries Ltd. The…
Texas Yard Scraps Its First EU-flagged Ship
EMR Group said its International Shipbreaking Ltd (ISL) site in Brownsville, Texas is the first to accept a EU ship to be recycled in the U.S.Using sustainable recycling processes, ISL was able to recycle 97% of the materials removed from MT Wolverine, a 158-meter-long chemical tanker with a carrying capacity of 16,000 tonnes, which prior to being decommissioned, was sailing under the flag of Norway.The…
McAllister Taps ABS for Sustainability Reporting
ABS is supporting McAllister on its sustainability journey with greenhouse gas inventory and sustainability reporting services for its fleet of more than 75 tugboats, crew boats and barges.ABS specialists worked with McAllister’s team to calculate its operational carbon intensity and benchmark the performance of its fleet, leading up to an Environmental, Societal and Governance (ESG) report. The team helped McAllister establish a transparent governance and stakeholder engagement strategy…
Kawasaki Hydrogen Carrier Earns AIP from ClassNK
Classification society ClassNK announced it has issued an approval in principle (AIP) for a large liquefied hydrogen carrier developed by Kawasaki Heavy Industries, Ltd.Hydrogen is expected to be used as a clean energy source to realize a decarbonized society as its burning does not emit CO2. To contribute to the maritime transportation of hydrogen and usage for marine fuel, which is anticipated to expand its use worldwide…
SAAM Buys Ian Taylor Towage Business in Peru
SAAM Towage reported that it has signed an agreement with Ian Taylor to acquire the company's towage operations in Peru, which currently provides services with four tugs at the ports of Callao and Paita.“This agreement, just like the acquisition in Canada of Standard Towing and Davies Tugboats formalized a few weeks ago, is part of our strategy to lead the consolidation process taking place in the towage industry.
U.S. Offshore Wind: GLDD Orders Huisman Rock Installation Equipment for Newbuild Vessel
U.S.-based Great Lakes Dredge & Dock Company (GLDD) has ordered rock installation equipment from the Dutch company Huisman.The equipment will be installed on the GLDD's newbuild rock installation vessel, which will support the development of offshore wind in the U.S.Huisman said it has optimized the equipment for installing scour protection necessary for offshore wind applications. This includes, for example…
U.S. Identifies Possible Wind Power Areas Off Oregon, Atlantic Coasts
The Biden administration on Wednesday identified new areas for potential offshore wind development off the coasts of Oregon and several central Atlantic states, its latest step toward bolstering the nascent U.S. industry.Offshore wind is a key pillar of President Joe Biden's plan to fight climate change by decarbonizing the U.S. power sector by 2035 and the entire economy by 2050.Wednesday's announcement by the Bureau of Ocean Energy Management…
Baltic Index Hits Near 1-month High on Stronger Capesize
The Baltic Exchange's main sea freight index extended gains to a sixth day, hitting a near one-month high on Wednesday, supported by strong rates in the capesize segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 21 points, or 0.9%, at 2,425 points, a peak since March 28.The capesize index .BACI gained 57 points, or 2.6%, to 2,226 points.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron or
Container Rates: Diverging Trends for Far East to Mediterranean vs North Europe - Xeneta
In contrast to spot rates on the Far East to North Europe trade which have fallen by more than USD 3,600 per FEU [Forty-Foot-Equivalent-Unit ] since the start of the year, those to the Mediterranean have seen a much smaller decline, falling by just USD 850 per FEU, Xeneta said in a report on Wednesday.According to Xeneta, the spot rate from the Far East to the Mediterranean stood at USD 13,100 on April 26…
All American Marine Inks Deal to Build Geodynamics/NV5 Wind Survey Vessel
All American Marine (AAM) won a contract to build a research and hydrographic survey vessel for Geodynamics, an NV5 company. R/V Shackleford is a 73 x 26.7-ft. semi-displacement aluminum catamaran hull that was developed by Nic de Waal of Teknicraft Design in Auckland, New Zealand. The vessel will have the fundamental, and primary design elements of the Duke University Marine Lab’s R/V Shearwater and…
BW Offshore Says Fatal Incident in Indian Yard Not Related to Its FPSOs
Oslo-listed FPSO leasing company BW Offshore said Wednesday a fatal incident had occurred in the Priya Blue shipyard in India, but that it was not related to ongoing recycling of former BW Offshore FPSOs at the yard.BW Offshore said in February it had signed an agreement with Priya Blue Industries yard in India to recycle the Cidade de São Vicente FPSO in compliance with Hong Kong Convention. The convention…
Indonesia Deploys Navy Ships to Thwart Ilegal Shipments of Refined Palm Oil
Indonesia deployed navy ships and hundreds of personnel on Wednesday, including intelligence assets, in an effort to thwart illegal shipments of refined palm oil olein, just hours away from an export ban aimed at taming surging cooking oil prices.The new rules were due to take effect at midnight local time (1700 GMT), and the navy and other agencies had been instructed to step up patrols of Indonesian waters to ensure compliance…
IMO Urges States to Accede to 2012 Cape Town Agreement on Fishing Vessel Safety
International Maritime Organization's (IMO) Secretary-General Kitack Lim has urged states to take action to achieve entry into force of the Cape Town fishing vessel safety agreement, a key international treaty that will establish an international regime for fishing vessel safety.IMO said the agreement would help make fishing safe, sustainable, and legal - and make a significant contribution to the protection of fishers…
Tech File: GF Piping Systems Launches Fire-retardant Pipe Jacket System
GF Piping Systems launched HEAT-FIT at Seatrade Cruise Global in Miami, debuting a lightweight, corrosion-free, and efficient thermoplastic piping system.With the HEAT-FIT Jacket System, GF Piping Systems offers a solution that introduces thermoplastic piping systems into essential applications (L3) onboard cruise ships, merchant vessels, and offshore platforms. HEAT-FIT is compatible with the ecoFIT…
Decarbonization: Zero-Emission Handymax Bulker Concept Debuts
The global push for decarbonization in the transport sector has predictably inspired a wave of new designs for the shipping sector, including a new 'Zero-Emission Handymax Bulker' design from the hands of Eco Marine Power, a design that incorporates renewable energy solutions, electric propulsion and fuel cells.The ship design concept is known as the Aquarius Eco Handymax II and all the technologies…
First China-built Dual-fuel Methanol Powered Tanker Starts Sea Trials
Guangzhou Shipyard International (GSI) has started sea trials of the Stena Pro Patria, the first methanol-powered dual-fuel tanker constructed in China in what has been described as a 'watershed moment' in the development of methanol as an alternative fuel for medium-range tankers.GSI signed the deal to build three 49,990 dual-fuel DWT tankers with Proman Stena Bulk, a joint venture between Sweden-based Stena Bulk AB and Switzerland headquartered Proman in 2019.
