Platts Launches Tanker Freight Rates to Reflect Costs of New Fuels
Platts, part of S&P Global Commodity Insights, has launched new price assessments for tanker base freight rates that factor in pricing for alternative fuels, the agency said on Tuesday.The move comes as the agency expects the maritime sector's use of alternative fuels, such as liquefied natural gas (LNG) to grow significantly in the next few years.With about 90% of world trade transported by sea, shipping accounts for nearly 3% of the world's CO2 emissions…
Florida Researcher Breaks World Record for Living Underwater
University of South Florida (USF) Associate Professor Joseph Dituri has broken the world record for living underwater, previously set at 73 days.Dituri is studying how the human body responds to long-term exposure to pressure from an underwater habitat located at Jules’ Undersea Lodge in Key Largo where he’s been living since March 1.His 100-square-foot underwater home has subjected him to an isolated and extreme-confined environment.
Wreck of MV Blythe Star Found Off Tasmania
An investigation by Australian research organisation CSIRO’s research vessel RV Investigator has confirmed the location of the wreck of the MV Blythe Star.The 44-metre motor vessel Blythe Star was a coastal freighter that disappeared off Tasmania nearly 50 years ago. The vessel was travelling from Hobart to King Island with a cargo of superphosphate fertiliser and a ton of beer in kegs when, on October 13…
Asian Seafarer Hubs Push Forward with New Technology Training
The seafarer home nations of the Philippines and Indonesia are working to equip their maritime workers with the skill sets needed to deliver a low and zero-carbon maritime sector.Speaking at the ‘Seizing opportunities for green shipping in Asia and the Pacific’ conference organized by the Philippines' Maritime Industry Authority (MARINA), on May 15, Philippine Transmarine Carriers CEO Gerardo A. Borromeo said: “There is no doubt that the skill set for a career at sea is evolving.
Dry Bulk: Baltic Index Slips
The Baltic Exchange's main sea freight index fell to its lowest in nearly three weeks on Monday, on weaker demand across all vessel segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels carrying dry bulk commodities, was down 36 points, or 2.3%, at 1,522 points in its third consecutive decline.The capesize index lost 71 points, or 2.9%, to a 10-day low of 2,385 points.Average daily earnings for capesizes, which typically transport 150,0
APM Terminals to Invest $1 Billion in Brazilian Terminals by 2026
Maersk's APM Terminals has pledged a €962 million (US$1 billion) investment in its Brazilian operations up to 2026.This figure includes a €296 million of a total €483 million investment exclusively for the Phase One development of a new terminal in Suape. The terminal, located in Estaleiro Atlântico Sul, is in the final stages of acquisition and will rejuvenate infrastructure and increase competition…
UN Efforts to Save Black Sea Grain Deal to Continue in Coming Days
The U.N. aid chief said on Monday efforts will continue in coming days to extend a deal allowing the safe Black Sea export of Ukraine grain, a pact Russia has threatened to quit on May 18 over obstacles to its grain and fertilizer exports.The final two ships are due to leave Ukrainian ports on Tuesday under the Black Sea deal, said a U.N. spokesperson."Continuation of the Black Sea Initiative is critically important," Martin Griffiths told a U.N. Security Council meeting on Ukraine.
NASSCO Awarded USS Makin Island (LHD 8) Repair Job
San Diego shipyard General Dynamics NASSCO has been awarded a contract from the U.S. Navy for maintenance, modernization and repair of the amphibious assault ship USS Makin Island (LHD 8) fiscal 2023 selected restricted availability.The $66,854,586 firm-fixed-price contract action includes options, which, if exercised, would bring the cumulative value of this contract to $74,981,830.The scope of this acquisition includes all labor…
Germany Scales Down LNG Terminal Plans as Supply Crisis Eases
Germany will almost halve planned capacity for liquefied natural gas (LNG) terminals in the Baltic Sea, a government source said, as Berlin revaluates its LNG needs given local resistance and an easing of energy bottlenecks.Two floating LNG terminals are to be sited at Mukran off the Ruegen coast with annual capacity of around 10 billion cubic meters (bcm), down from the 18 bcm previously planned, the source said on condition of anonymity.Deutsche Regas will operate the floating stations in Rueg
US Navy Orders LCS Propulsion Items
Defense Maritime Solutions, Inc. secured a contract from the U.S. Navy's Southwest Regional Maintenance Center in San Diego in support of the waterjets and seals that they originally supplied for the Littoral Combat Ship Independence Class.The $9,135,942 firm-fixed price indefinite-delivery/indefinite-quantity contract includes four ordering year options which, if exercised, would bring the cumulative value of this contract to $60,582,873.
Vane Brothers’ Iuliucci Elected AWO Chairman
The members of the American Waterways Operators, the national tugboat, towboat and barge industry association, elected a new slate of leaders during the association's Spring Convention and Annual Membership Meeting.Rick Iuliucci, Vice President, The Vane Brothers Company, was elected Chairman; Kelly Teichman, Chairman of the Board, T&T Marine, was elected Vice Chair; and Brian Hughes, Vice President Operations & Sales, Hughes Bros., Inc., was re-elected Treasurer.
How Gdańsk is Reclaiming its Industrial Waterfront
The prosperity of port cities, throughout history, has been closely tied to the ports’ ability to adapt to economic and technological change. As ships got bigger, ports had to keep up. This has often seen the port proper grow apart from the city whose name it bears because the old harbor could no longer accommodate the needs of modernized shipping.In those European cities located by rivers, port activities have often migrated towards the estuary.
Philippines Places Buoys to Assert Sovereignty in South China Sea
The Philippines has placed navigational buoys within its exclusive economic zone (EEZ) to assert sovereignty over the disputed Spratly islands in the South China Sea, a coast guard spokesperson said on Sunday.The step comes amid China's increasingly aggressive actions in the South China Sea as Philippines President Ferdinand Marcos Jr pursues warmer ties with treaty ally the United States.The Philippine Coast Guard (PCG) said it set up five buoys carrying the national flag from May 10 to 12 in f
Maersk Tankers Names Revsbech CEO
Tina Revsbech will join Maersk Tankers as its new CEO, replacing Christian M. Ingerslev, who has been appointed CEO of Maersk Supply Service.Revsbech brings to the role more than 30 years of industry experience. She was previously executive vice president at Fednav Limited, CEO at BW Tankers and senior vice president at Torm. Earlier in her career, Revsbech worked for more than 15 years for Maersk Tankers as head of chartering and Head of Maersk Tankers for Americas and Singapore…
KR Awards AIP to HD Hyundai’s Ship Cyber Resilience Technology
Korean Register (KR) has awarded an approval in principle (AIP) to HD Hyundai Heavy Industries (HD HHI) and HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for their 'Technical Procedures and Methodology for Implementation of Ship Cyber Resilience (IACS UR E26).'Ship cyber resilience encompasses measures taken to reduce cyber accidents and mitigate their impact on the operational technology systems essential for the safe navigation of ships.
Australia Creates Permit-Free, Autonomous Marine Tech Test Area
For the first time in Australia, autonomous marine technology developers have a location to safely test autonomous vessels without needing to apply for a permit. The Australian Institute of Marine Science’s ReefWorks inshore test range, near Townsville in north Queensland, was granted regulatory sandbox approval for uncrewed vessels from the Australian Maritime Safety Authority (AMSA).It’s the first…
"Slim Pickings" on Available Tonnage for Ship Recycling
After some recent declines in the sub-continent markets, the ship recycling market appeared to have reached the bottom early this week as a certain “stability” across the markets led to some greater confidence to acquire some of the slim pickings of tonnage currently available for recycling.However, as the week came to an end, global currencies seemed to suffer against the U.S. Dollar in unison, as all of the major ship recycling destinations faced some declines (especially in Pakistan)…
A.P. Møller Holding Takes Over Maersk Supply Service, Names New CEO
A.P. Møller Holding A/S has acquired offshore vessel services firm Maersk Supply Service A/S from A.P. Møller – Mærsk A/S, through the closing of the previously announced transaction.In connection with the closing of this acquisition, A.P. Moller Holding has elected a new CEO and Board of Directors for Maersk Supply Service A/S. Christian M. Ingerslev will take over the Chief Executive Officer (CEO) position from Steen S. Karstensen, who has been at the helm of Maersk Supply Service since 2016.
Norway Naval Officer Found Guilty of Negligence in Oil Tanker Collision
A Norwegian naval officer was found guilty on Monday and sentenced to a two-month suspended jail sentence for negligence leading up to the 2018 collision between a warship he commanded and an oil tanker in which the military vessel sank.Building a replacement for the lost Helge Ingstad frigate would have cost up to 13 billion crowns ($1.24 billion), the armed forces estimated in a 2019 report.The early…
AG EMS selects Hogia Ferry Systems
German ferry operator Aktien-Gesellschaft EMS (“AG EMS”) has partnered with Hogia Ferry Systems to implement their standard reservation software BOOKIT.AG EMS operates a ferry service between Emden and the island Borkum, using both traditional and high-speed ferries. The company will also use BOOKIT for its river cruises and excursions.“We had reached the end of opportunities with our current system…
