Grab News

Singapore's Temasek Holdings has shortlisted energy giants Shell and Saudi Aramco among a handful of companies to purchase most of the assets of liquefied natural gas (LNG) trading firm Pavilion Energy, sources with knowledge of the matter said.The sale process comes a decade after the state investment firm set up Pavilion Energy to focus on LNG-related investments, and takes place as spot Asian LNG prices LNG-AS have fallen more than 40% since mid-August, potentially weighing on the deal's valuation.Temasek is evaluating bids for the sale of Pavilion Energy's assets…

A new 24-meter passenger ferry designed by Incat Crowther and built by Norman R. Wright & Sons has begun servicing a busy passenger route for commuter and tourism ferry operator SeaLink South-East Queensland. The new Incat Crowther 24, named Talwurrapin, began operating on the Redland Bay to Russell Island route in the Moreton Bay region in late January 2023, providing a vital connection between the mainland and Russell Island.Incat Crowther said it worked with SeaLink South-East…

Credeblug and Tecnalia have teamed to improve the maintenance and repair operations carried out on underwater power cables. The end result: the manufacture and validation of s cutting and clamping tool, designed to secure one end of a cable after it has been cut, aiming to save time and money.“This functionality has been called for by offshore cable repair teams all over the world since such operations began in the 19th century," said Joannes Berquè, a TECNALIA researcher. "To this day, current cutting tools mean that the ends of the cable drop off after they have been cut.

The ocean freight industry saw a slump in global long-term rates of unprecedented proportions in May, as the contracted cost of shipping containers fell by 27.5%. The development, detailed by Xeneta’s Shipping Index (XSI), marks the ninth consecutive month of rates drops, and is the largest ever monthly fall recorded on the XSI.“If industry observers were left wondering just how bad it could get for carriers after the 10% fall in long-term rates seen in April, here’s the answer,” said Patrik Berglund, CEO of Oslo-based Xeneta.

The Poseidon Principles provide a platform for financing shipping’s sustainable future, but the technical guidance underpinning the initiative remains under scrutiny.In July 2023, the International Maritime Organization’s Maritime Environment Protection Committee (MEPC) will consider revising the UN agency’s strategy on greenhouse gas emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50% by 2050, based on 2008 levels,  influential administrations seek to accelerate towards net-zero or even zero by 2050.

The Poseidon Principles provide a platform for financing shipping’s sustainable future, but the technical guidance underpinning the initiative remains under scrutiny.In July 2023, the International Maritime Organization’s Maritime Environment Protection Committee (MEPC) will consider revising the UN agency’s strategy on greenhouse gas emissions from ships. Moving on from a current target to reduce CO2 emissions from ships by at least 50% by 2050, based on 2008 levels, influential…

Metal Shark delivered a welded-aluminum 45 Defiant crew boat to Anchorage Launch Services Company, an Oregon-based operator providing launch, line, pilotage, and cargo services to vessels on the Columbia and Willamette Rivers.Designed in-house by the Metal Shark engineering team and built at the company’s Jeanerette, La., production facility, the 47 x 12 ft. twin-diesel waterjet-powered “Triumph VII” is now in service.“Our captains, crew, and passengers have all been very impressed with the capabilities of our new vessel,” said Alex Scott, COO of Anchorage Launch.

Russian missiles hit Ukraine's southern port of Odesa on Saturday, the Ukrainian military said, threatening a deal signed just a day earlier to unblock grain exports from Black Sea ports and ease global food shortages caused by the war.Ukrainian President Volodymyr Zelenskiy called the strike blatant "barbarism" showing Moscow could not be trusted to implement the deal. However, public broadcaster Suspilne quoted the Ukrainian military as saying the missiles had not caused significant…

Tongues are wagging in the offshore sector, as one of the longest-running rumors in the market has finally come true. U.S. offshore vessel owner Tidewater Marine has acquired Singapore's Swire Pacific Offshore for USD 190 million, the company’s biggest powerplay since its acquisition of GulfMark Offshore back in 2018.But why SPO, and why now? In this article, VesselsValue's Head of Offshore, Rob Day, seeks to answer these questions and provide commentary on why this long-time…

Technical operations to remove the wreck of the Wakashio bulk carrier that ran aground and broke up off Mauritius wrapped up this week as salvors recovered final sections of ship debris that were lying up to 500 meters away from the site of the stern section.On July 25, 2020, the 300-meter Wakashio struck a reef near Pointe d'Esny off the Indian Ocean island's east coast, triggering an ecological disaster and prompting the Mauritian government to declare a state of emergency.

Aluminum boatbuilder Brix Marine said it has delivered the newest installment of its PAXCAT portfolio, a 32’ x 12’ catamaran GOAT 1 to the Qathen Xwegus Management Corporation (QXMC), the business arm of the Klahoose First Nation, located on Cortes Island, B.C., Canada. The corporation, whose activities include forestry, aquaculture, tourism and retail, operates the 12-passenger vessel as a water taxi.The vessel was delivered in September 2021, and a traditional cedar brushing ceremony marked the vessel’s arrival at Klahoose Wilderness Resort.

Singapore has held onto its spot atop the list of the world's best maritime cities, according to a recent report from classification society DNV and Menon Economics.The 2022 edition of the Leading Maritime Cities (LMC) report launched Thursday provides fresh insights into which global hubs offer the best infrastructure, technology, finance, and world-class talent, to help the maritime community connect and prosper.There have been many dramatic developments since the last edition of the LMC report was published in 2019. For one, we are still living with the pandemic.

Boat builder Metal Shark said it has delivered a 55- by 17-foot welded aluminum pilot boat to the Pascagoula Bar Pilots Association in Mississippi.Designed by Metal Shark’s in-house engineering team and built at the company’s Franklin, La. shipyard, the new Singing River Island is the second Metal Shark pilot boat to join the Pascagoula Pilots fleet. It represents the latest evolution in the Louisiana-based builder’s Defiant-class pilot boat lineup, combining a proven hull form with a modern…

Transhipment Services Australia (TSA) has ordered a transshipment crane barge from shipbuilding group Damen, who says it will be able to deliver the new the Crane Barge 6324 directly from stock to fulfil the order in a period of only four weeks.TSA has been contracted by Metro Mining to provide transshipment services for its Bauxite Hills Project located along the Skardon River on Cape York Peninsula, north of Weipa in Far North Queensland. With a presence in three sites across Australia…

Shipbuilder Metal Shark has introduced the 38 Defiant NXT, described as a next-generation welded aluminum monohull pilothouse model based on the company’s 38 Defiant platform. The first new vessel, “Fire Boat 2,” has been delivered to Orange Beach Fire Rescue in Alabama.Since 2011, Metal Shark has delivered over 100 legacy model 38 Defiant vessels, in a wide range of configurations to fire departments, law enforcement agencies, the US Coast Guard and Navy, and multiple foreign…

For the next three months, three wind farm survey vessels will be busy in the Southern North Sea at the North Falls offshore wind farm site in the UK.North Falls, a proposed extension to the existing Greater Gabbard Offshore Wind Farm, is located approximately 20 kilometres from the East Anglia coast on a site covering a total of 150 km2. North Falls is jointly owned by SSE Renewables and RWE Renewables.The surveys, being conducted by the Dutch marine survey contractor Fugro, will be integral to the project’s environmental impact assessment…

In the first quarter of 2021, Jiangsu Zhenjiang Shipyard (Group) Co., Ltd. ordered two eco-efficient Konecranes Gottwald Model 8 Cranes on Barge. The cranes will be operated by Cosco Shipping Bulk Co. Ltd. (Cosco Bulk) off the coast of Guinea, Africa.Home to the world’s largest reserves of bauxite, the Guinean mining industry has been expanding. Cosco Bulk, a subsidiary of a world-leading shipping company, China Cosco Shipping Corporation Limited, found they needed more cranes to cope with the volume.

Pirate attacks against merchant ships off the African coast have been reported regularly over the past decade. And despite measures to suppress it, Somalia-based piracy remains a concern. On the other side of the continent, the Gulf of Guinea is now viewed as presenting a much more serious piracy problem.Last year a record 130 crew members were kidnapped in 22 separate incidents, according to the International Maritime Bureau. The cluster of attacks in November and December has…

A new Liebherr LHM 600 Mobile Harbor Crane has been in operation in the Port of New York and New Jersey since November 2019. Metal recycler Sims Metal Management places its LHM 600 on a floating barge, which offers the company various advantages.Firstly, the barge solution offers enormous flexibility in terms of location. The company operates two different terminals in the New York Harbor. In addition to a terminal in the Port of Newark Sims Metal Management also operates the terminal of Claremont in Jersey City, N.J., which is about 10 kilometers linear distance.

Dutch marine services and dredging contractor Boskalis has secured 32 million euros ($35 million) worth of dredging works in Finland's Port of Helsinki.Under the contracts awarded by the Finnish Transport Infrastructure Agency, the Port of Helsinki, and the City of Helsinki, Boskalis will deepen de Vuosaari fairway and harbor basin from eleven to thirteen meters in the Port of Helsinki.The Dutch company will then use and utilize a part of the dredged material for the development of Helsinki’s Hernesaari area, which is close to the center of the city.

Shipbuilder Metal Shark said it is building a welded aluminum 55’ x 17’ pilot boat for the Pascagoula Bar Pilots Association in Mississippi, scheduled for delivery later this year.Designed in-house, the new 55 Defiant Pilot being built for Pascagoula Pilots incorporates the“faceted hull” design initially developed by Metal Shark for the U.S. Navy 40 PB program, and features an enhanced version of Metal Shark’s “pillarless glass” in a two-tiered, reverse-raked arrangement.The builder…

Imagine waking up one morning with a deadly tiger snake in your bed. To make matters worse out of the window you notice an approaching bushfire.Both are a threat to your life, but you are going to deal with the imminent danger of the snake first, and then tackle the more distant but still serious fire. It's the same with the new coronavirus and climate change.Since the rapid spread of the coronavirus beyond its origin in China and the social and economic havoc it's wreaking across the globe…

U.S. refiners are scooping up cheap high-sulfur fuel oil for processing from Russia and the Baltic states as they take advantage of new shipping rules that have cut demand for the dirtier marine fuel, according to oil traders and shipping data.U.S. refiners Valero Corp, Chevron Corp and Phillips 66 have been buying HSFO, traders said, taking advantage of their complex operations to turn HSFO blended with crude oils into products like diesel, gasoil and gasoline.This month, 2.2 million tonnes of fuel oil…