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Thursday, March 28, 2024
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28 Mar 2024

Fincantieri Scoops $1.27B Deal to Supply Two Patrol Vessels to Indonesia

(Credit: Fincantieri)

Fincantieri and the Indonesian Ministry of Defense have signed a contract for the supply of two Multipurpose Offshore Patrol Vessel (PPA) units.The $1.27 billion (€1.18 billion) deal is part of the framework of collaborative relations initiated by the Italian Ministry of Defense.A PPA is a highly flexible ship with an outstanding technological standard. It has the capacity to serve multiple functions, ranging from patrol with sea rescue capacity to Civil Protection operations and first line fighting vessel.The vessels to be supplied by Fincantieri will be 143 meters long overall…

26 Mar 2024

Carnival Orders Excel-class Cruise Ship

Carnival Jubilee (File photo: Meyer We3rft)

Fresh on the heels of its first newbuild order in five years, the world's largest cruise company has placed an order for an additional vessel.U.S.-based Carnival Corporation on Tuesday announced it has signed an agreement with German shipbuilder Meyer Werft to build an Excel-class cruise ship for its Carnival Cruise Line brand for expected delivery in 2028.The ship will be the 11th Excel-class ship for the corporation's fleet across four of its brands, and the fifth to be sailed by Carnival Cruise Line.

25 Mar 2024

Eni, Fincantieri, RINA Team for Decarb Initiatives

L to R: Carlo Luzzatto, CEO and General Manager of RINA; Pierroberto Folgiero, CEO and Managing Director of Fincantieri; and Giuseppe Ricci, Chief Operating Officer for Energy Evolution at Eni, commented

Eni, Fincantieri and RINA signed an agreement to develop joint initiatives for the energy transition. The partnership formalizes the commitment to develop joint projects, in line with the partners' strategies, to decarbonize the maritime sector in the medium to long term with the goal of Net Zero by 2050. Additionally, the establishment of a permanent global observatory regarding future technological, regulatory, and market developments will be evaluated.The three companies will…

21 Mar 2024

Report: Sustainable Shipping Fuels Can Reach Cost Parity by 2035

Source: Wärtsilä

Sustainable shipping fuels could reach cost parity with fossil fuels as early as 2035 with the help of decisive emissions policy such as carbon taxes and emissions limits, according to a new report launched by Wärtsilä.The report, titled ‘Sustainable fuels for shipping by 2050 – the 3 key elements of success’, states that the EU Emissions Trading Scheme (ETS) and FuelEU Maritime Initiative will see the cost of using fossil fuels more than double by 2030. By 2035, they will close the price gap between fossil fuels and sustainable fuels for the very first time.Existing decarbonisation solutions…

20 Mar 2024

Petrobras Exec Says Gas Export Possible from Colombia Project

© passarut / Adobe Stock

A promising area off Colombia's coast where Brazil state-run Petrobras is drilling this year could justify a large project to supply natural gas to the Andean country and for exports, Petrobras' head of exploration and production said on Wednesday.As oil production in Brazil's prolific presalt region is set to plateau in coming years, Petrobras is expanding its horizons to new frontiers including the Equatorial Margin, Colombia and Africa.At Colombia's Tayrona block, Petrobras…

20 Mar 2024

Meyer Werft Lays Keel for Next Disney Cruise Line Ship

(Photo: Meyer Werft)

The construction of the next cruise ship for Disney Cruise Line has reached another milestone: assembly of the ship's hull began today with the traditional keel-laying ceremony. The ship is the sister ship of the Disney Treasure, which is also under construction, and the Disney Wish, which launched in 2022.The keel was laid in the 504-meter-long covered building dock at Meyer Werft in Germany. Philip Gennotte, portfolio project management executive, Walt Disney Imagineering Germany…

20 Mar 2024

SFL Acquires LR2 Product Tanker Trio

© Kalyakan / Adobe Stock

Shipowner SFL Corporation on Wednesday announced it has agreed to acquire three new LR2 product tankers in combination with long term time charters to an energy and commodities company.The vessels are currently under construction in China, with the latest eco-design features, SFL said, noting the sellers are affiliates of the company’s largest shareholder Hemen Holding Ltd.SFL said it will acquire the three ships for an aggregate purchase price of approximately $230 million, in…

19 Mar 2024

Bollinger Delivers Fast Response Cutter David Duren

(Photo: Bollinger Shipyards)

Bollinger Shipyards recently delivered the USCGC David Duren to the U.S. Coast Guard in Key West, Fla. This is the 182nd vessel Bollinger has delivered to the U.S. Coast Guard over a 35-year period and the 56th Fast Response Cutter (FRC) delivered under the current program.“We’re incredibly proud to deliver the USCGC David Duren, the first of three Fast Response Cutters to be homeported in Astoria, Oregon,” said Bollinger President & CEO Ben Bordelon. “We’re confident that pound for pound…

17 Mar 2024

Momentum Builds For a Universal GHG Price

Source: UMAS

The 16th Meeting of the Intersessional Working Group on Reduction of GHG Emissions from Ships concluded with some progress made on the finalization of mid-term measures, and without a decisive shift in the landscape of positions and preferences.This meeting was the first convening of the IMO following the adoption of the Revised GHG Strategy in July 2023.Although it was already agreed in the Revised GHG Strategy to adopt both a GHG Fuel Standard (a mandate on GHG intensity of fuel/energy)…

18 Mar 2024

New Electric Ferry Service Launching in Halifax

(Image: Government of Nova Scotia)

A new environmentally friendly electric ferry service is planned to launch in Halifax, Canada.The province of Nova Scotia, along with the federal government and Halifax Regional Municipality, announced on March 4 a joint investment to build the Mill Cove Ferry Service, which will include five fully electric ferries, two terminals and a maintenance facility. All-electric propulsion, which slashes vessel emissions, noise and vibration, has been taking off in the ferry industry as the operational profile for these vessels—often including frequent…

13 Mar 2024

RINA to Chart Decarbonization Path for Cruising Sector

© biletskiyevgeniy.com / Adobe Stock

Italian marine engineering consultancy RINA has secured a contract from the Cruise Lines International Association (CLIA) to carry out a comprehensive Global Investment Plan Study aimed at steering the cruise sector towards a sustainable future.The research will provide a worldwide scenario focused on the cruise sector, mapping real-time energy needs, infrastructure and regulations with foresight scenarios extending to 2050.The cruise sector is recognized as one of the most active in driving the shipping industry towards greater sustainability.Today…

12 Mar 2024

German Shipowners Seek Clarity from Berlin on Carbon Trading

© enanuchit / Adobe Stock

German shipowners' group VDR on Tuesday urged the Berlin government to provide legislation implementing European Union requirements to include the sector in the bloc's carbon trading system.The government is behind in transforming an EU agreement late in 2022 to require shipowners to buy EU carbon permits to trigger investment in greener technologies, into national legislation, VDR said at its annual press conference."For us, the cornerstone of our operations is not only planning certainty but also the assurance of uniform competitive conditions on an international scale…

06 Mar 2024

Asyad Shipping Taps LR for ESG Strategy and Reporting

(Photo: Asyad Shipping)

Asyad Shipping, part of Asyad Group, and Lloyd’s Register (LR) have partnered to deliver the Omani national shipping company’s first ESG (Environmental, Social and Governance) report, in line with the established Global Reporting frameworks.Asyad Shipping, which operates a fleet of 85 vessels including gas carriers, very large crude carriers, product tankers and container ships, is one of the first maritime organisations in the Middle East to publish an ESG report.ESG reporting has become a growing necessity in the shipping sector as environmental concerns…

05 Mar 2024

Vuyk Engineering Rotterdam: Three Years of Independence

Source: Vuyk Engineering

Three years ago in March, Vuyk Engineering Rotterdam gained full independence, and since then, the company has taken strategic steps to chart its own course and strengthen its independent position within the maritime sector.After the closure of the Vuyk shipyard in Capelle aan den IJssel in 1979, marking the end of all shipbuilding activities, former employees established a new company: Vuyk Engineering and Trading. Founded on the principles of technical know-how combined with experience in cost calculation…

05 Mar 2024

MAN Expands Dual-fuel Methanol Agreement with CCS

(Photo: MAN Energy Solutions)

MAN Energy Solutions and China Classification Society (CCS) signed a sub-agreement in line with the Strategic Framework Agreement (SFA) the two parties previously agreed in September 2023 in Beijing. The SFA, on ‘Decarbonization and Digitalization in the maritime industry’, is scheduled to last for five years.The new sub-agreement – the third such between the companies – covers MAN Energy Solutions’ new MAN L21/31DF-M (Dual-Fuel Methanol) GenSet designed at the company’s Danish site in Holeby.

04 Mar 2024

BRIX Marine Launches Survey Boat Lugudi Barana

(Photo: BRIX Marine)

Port Angeles, Wash. boatbuilder BRIX Marine announced the launch of its latest survey boat, the 3011-CTC, named Lugudi Barana.The hull features 5086 alloy aluminum hull skins, 5052 alloy aluminum interior transverse frames, and longitudinal T-bars, ensuring reliability even in challenging conditions, the builder said. The vessel's self-bailing aluminum decks, watertight bulkheads and anodes for cathodic protection further enhance its safety and longevity.The Lugudi Barana is equipped with a comprehensive array of accessories for efficient survey operations…

04 Mar 2024

HII Completes Acceptance Trials on Richard M. McCool Jr. (LPD 29)

(Photo: HII)

HII’s Ingalls Shipbuilding division on Monday announced  it has completed acceptance trials in the Gulf of Mexico for amphibious transport dock Richard M. McCool Jr. (LPD 29), the final Flight I transition ship before Ingalls moves into serial production of the LPD Flight II line.The Ingalls’ Test and Trials team spent several days with the U.S. Navy’s Board of Inspection and Survey running the ship at full power and through steering maneuvers. The team will now complete final finish work on the San Antonio-class ship in preparation for delivery to the U.S.

04 Mar 2024

Iridium Acquires Satelles

Image courtesy Iridium

Iridium Communications has entered into an agreement to acquire Satelles, Inc., a leader in secure satellite-based time and location services that complement and protect GPS and other GNSS-reliant systems. The service, named Satellite Time and Location (STL), is designed as an easy-to-adopt, secure solution that increases the efficiency and reliability of timing systems for digital infrastructure like 5G base stations, data centers, and other critical infrastructure and protects…

04 Mar 2024

MOL Wraps Up Fairfield Chemical Carriers Acquisition

MOL Chemical Tankers-operated chemical tanker Ensemble (Credit: MOL)

Mitsui O.S.K. Lines (MOL) has, through its subsidiary MOL Chemical Tankers, completed the acquisition of Fairfield Chemical Carriers, creating one of the world’s largest multi-segregated chemical tanker fleets.The acquisition, valued at $400 million, is based on a share transfer agreement signed at the end of September 2023, which has been approved by the relevant authorities under competition law.The transaction is in line with MOL’s plan to proactively invest in chemical tanker business…

01 Mar 2024

US Navy Accepts Delivery of Future USS Kingsville (LCS 36)

(Photo: U.S. Navy)

The U.S. Navy accepted delivery of the future USS Kingsville (LCS 36) at Austal USA’s shipyard in Mobile, Ala., March 1.Kingsville is the 18th Independence-variant Littoral Combat Ship (LCS) constructed, and is the first ship ever named after Kingsville, Texas.The LCS class comprises fast, optimally manned, mission-tailored surface combatants that can operate in both near-shore and open-ocean waters to counter 21st-century coastal threats.Kingsville successfully completed Acceptance Trials on February 1 and will be commissioned later this summer…

29 Feb 2024

BIMCO: Tanker Supply/Demand Balance will Tighten

© alexyz3d / Adobe Stock

The BIMCO Tanker Shipping Market Overview & Outlook February 2024 by Niels Rasmussen, BIMCO’s Chief Shipping Analyst, forecasts that the supply/demand balance will tighten further during both 2024 and 2025.Low fleet growth, along with increasing sailing distances, create the foundation for the improvement despite a slowing of growth in oil demand. The product tanker supply/demand balance is also expected to tighten in 2024 but weaken in 2025. Like the crude tanker market, longer sailing distances support demand growth despite slowing oil demand.

29 Feb 2024

CMA CGM Caps Logistics Push with $5 Billion Bollore Deal

© K I Photography / Adobe Stock

France's CMA CGM has completed a $5 billion takeover of Bollore Logistics, its biggest-ever acquisition, and said it had funds for more deals as it seeks to counter volatility in container shipping.The acquisition of the logistics division of French conglomerate Bollore, announced last year, closed on Thursday at a final price of 4.85 billion euros ($5.25 billion) after debt and cash adjustments.The deal will extend the reach of CMA CGM's CEVA Logistics unit into areas such as freight management for pharmaceutical, cosmetics and luxury firms.CMA CGM, based in Marseille and privately controlled

29 Feb 2024

KOTUG Takes Full Ownership of Its Bahamas Towage JV with SEACOR

(File photo; KSM)

KOTUG International, a marine services and towage provider based in the Netherlands, announced on Thursday it has concluded its acquisition of Kotug Seabulk Maritime (KSM), taking full ownership of the Caribbean marine towage business.KOTUG said it has acquired the interest of its joint venture partner, Fort Lauderdale, Fla.-based SEACOR Holdings via its Seabulk subsidiary KS Maritime Holdings, owner of the 50% share in KSM.Founded in 2017, KSM acts as the exclusive provider of maritime terminal support services for Buckeye Partners’ Bahamas Hub…