March News

Fairfield Chemical Carriers has taken deliver of its latest vessel, Fairchem Pathfinder, a 26,222 DWT IMO 2/3 chemical tanker built by Japan's Fukuoka Shipbuilding.Fairchem Pathfinder is the first in a series of four LNG-dual fuel sister vessels being built by Fukuoka for Fairfield.The 158.4-meter-long (LOA) stainless steel chemical tanker is classed by NK and registered in the Marshall Islands.U.S.-based Fairfield Chemical Carriers has been operating as a wholly-owned subsidiary of MOL Chemical Tankers since it was acquired by the Japanese shipping company in March.

The Chinese state-owned company at the center of a dispute over operations of a megaport it is building on Peru's Pacific coast insisted on Tuesday on terms agreed with the government, as some local officials have sought to backtrack on the deal.Hong Kong-based Cosco Shipping Ports will defend its legal rights to provide services as the exclusive operator of the deepwater Chancay Port Terminal under "terms that were agreed at the beginning of this investment," the firm said in…

Aid for Gaza was being loaded onto a ship in Cyprus on Wednesday in what was expected to be the first cargo to be delivered using a U.S. pier built to expedite supplies to the besieged enclave.Containers were being stacked on the U.S. flagged Sagamore, docked at the port of Larnaca, on Wednesday. Some containers to the ship were labelled as aid from the United Arab Emirates.Konstantinos Letymbiotis, a Cyprus government spokesperson, said a U.S jetty built to handle aid shipments to Gaza had been completed."We are completing the loading of aid onto a U.S.

Unified Command salvage teams have located the sixth victim of the Baltimore bridge collapse.Maryland State Police investigators along with officers from the Maryland Transportation Authority Police and the FBI responded to the scene and recovered the body of a sixth construction worker. The victim is identified as José Mynor López, 37, of Baltimore, Maryland.“With heavy hearts, today marks a significant milestone in our recovery efforts and providing closure to the loved ones of the six workers who lost their lives in this tragic event,” said Colonel Roland L.

The Baltic Exchange's dry bulk sea freight index extended its rally on Tuesday to hit its highest in more than six weeks, supported by a jump in the large vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, added 207 points, or 11.03%, to 2,083, touching its highest level since March 25."The dry bulk market has continued to outperform expectations...

Salvage crews within the Key Bridge Unified Command continue to prepare for the complex task of removing the large piece of bridge lying on top of the M/V Dali.Prior to removing the bridge piece, salvage teams must meticulously analyze and factor in numerous hazards and obstacles resulting from the bridge's impact. Crushed containers, hull damage, and weight shifts are among the critical considerations crews must address during the bridge removal and refloating operation of the…

The European Union would ban trans-shipment of Russian LNG, the use of EU ports by vessels transporting goods contributing to Russia's war effort and make EU operators more accountable for any sanctions violations, according to a text under discussion.The text seen by Reuters on Monday covers proposals that would constitute a 14th package of sanctions against Russia over its 2022 invasion of Ukraine now being debated by EU members before it enters force.According to the proposals presented to EU envoys on Friday…

The U.S. Navy's efforts to build a fleet of unmanned vessels are faltering because the Pentagon remains wedded to big shipbuilding projects, according to some officials and company executives, exposing a weakness as sea drones reshape naval warfare.The lethal effectiveness of sea drones has been demonstrated in the Black Sea where Ukraine has deployed remote-controlled speed boats packed with explosives to sink Russian frigates and minesweepers since late 2022.Yemeni-backed Houthi rebels have employed similar vessels against commercial shipping in the Red Sea in recent months…

Fortescue, with the support from the Maritime and Port Authority of Singapore (MPA) and partners, has completed propulsion and maneuverability trials of its Singapore-registered Fortescue Green Pioneer dual fuel ammonia-powered vessel in the Port of Singapore.The trials were conducted using 6.4 m3 (4.4 tonnes) of liquid ammonia, in combination with diesel and Hydrogenated Vegetable Oil (HVO), a second-generation biofuel, as marine fuel over 10 days from April 23, 2024 to May 2…

Key Bridge Unified command salvors have begun preparing for the removal of bridge section four, which lies across the bow of the M/V Dali.The operation requires careful handling of roadbed material, crushed containers and bridge fragments currently resting on the M/V Dali’s bow.The salvage teams are preparing for the refloat of the Dali, ensuring all aspects of the wreckage impacts are thoroughly evaluated and addressed. "The complexities of this next phase of operations require thorough preparation, strategic planning, and specialized expertise," said Capt.

Maryland said on Thursday it estimates it will cost $1.7 billion to $1.9 billion to rebuild a collapsed Baltimore bridge and anticipates it will be completed by fall 2028.The Maryland Department of Transportation said the state's "planning level cost estimate is between $1.7 billion and $1.9 billion" which "is in line with similar projects of this scale and complexity."The Dali cargo ship crashed into the Francis Scott Key Bridge on March 26, killing six people. Lawmakers in Congress…

Ocean freight container carriers are treading a fine line between risk and reward during new contract negotiations as the market remains gripped by uncertainty in the Red Sea, according to new data on the Xeneta Shipping Index (XSI®).The latest data released by Xeneta on May 2 shows the Global XSI (the average rate of all valid long term contracts in the market) remained fairly flat in April at 154.3 points, up by just 1.7% from March.However, looking at sub-indices within this global figure reveals a dynamic market…

According to the latest figures from DNV’s AFI platform, 23 new orders for alternative fueled vessels were registered in April 2024.A majority of these (12) were for methanol-fueled tankers, a segment where the uptake of alternative fuels has been low up until now.Seven orders were place for LNG-fueled vessels in April, and four ammonia-fueled vessel orders were confirmed. Following a quiet month in March, these strong figures confirm the overall trend of a steady increase in new orders for alternative fuels, says DNV.

Maryland said on Thursday it estimates it will cost $1.7 billion to $1.9 billion to rebuild a collapsed Baltimore bridge and anticipates it will be completed by fall 2028.The Maryland Department of Transportation said the state's "planning level cost estimate is between $1.7 billion and $1.9 billion" which "is in line with similar projects of this scale and complexity."The Dali cargo ship crashed into the Francis Scott Key Bridge on March 26, killing six people. Lawmakers in Congress…

A mother and son will have to pay more than £2,000 for obstructing the work of the U.K.'s Maritime and Coastguard Agency (MCA).On March 3, 2022, Rhys Wonnacott, of Milford Haven, prevented MCA surveyors boarding the fishing vessel Provider, moored at Milford Haven Harbour. Because of this, surveyors were unable to complete an inspection of the vessel, as part of a Fishing Vessel Concentrated Inspection Campaign that was taking place that day.Obstructing an MCA surveyor from their duties is against the law…

Lloyd's of London insurers Hiscox and Lancashire do not expect large insurance claims from the collapse of Baltimore's Francis Scott Key Bridge in March that caused widespread disruption, they said on Thursday.Some estimates for the total insured losses from the bridge collapse run into billions of dollars, given the loss of lives, bridge repair costs and traffic re-routing.The Wall Street Journal reported on Thursday insurer Chubb was preparing to make a $350 million payout to the state of Maryland.Hiscox does not have direct exposure to the business interruption policy of the port…

In 2018, convicted cocaine trafficker Slobodan Kostovski fled a Brazilian prison and made his way back to Europe with a fake passport.The Serbian senior quickly fell into old habits, police allege. Last August, Kostovski was arrested in Belgrade, accused of shipping 2.7 metric tonnes of cocaine from Brazil aboard a 22-meter vessel apprehended near Spain’s Canary Islands.Nicknamed “the General” by his associates, he had been trafficking “large amounts” of powder to “Europe for a long period of time,” Serbian police wrote in a 2022 intelligence report obtained exclusively by Reuters.

Russia has been quietly shipping refined petroleum to North Korea at levels that appear to violate the mandates of the United Nations Security Council, a U.S. official said on Thursday, adding the U.S. is planning new sanctions in response.The disclosure came on the first day after a U.N. panel of experts monitoring enforcement of longstanding U.N. sanctions against North Korea for its nuclear weapons and missile programs was disbanded after a Russian veto."At the same time that Moscow vetoed the panel’s mandate renewal…

The Unified Command recovered the body of another missing victim at the Key Bridge incident site on May 1, 2024.The victim is identified as Miguel Angel Luna Gonzalez, 49, of Glen Burnie, Maryland.Unified Command salvage teams located one of the missing construction vehicles and promptly notified the Maryland Department of State Police. Police investigators along with officers from the Maryland Transportation Authority Police and the FBI then recovered the body of a fifth construction worker inside a red truck.

U.S. exports of liquefied natural gas (LNG) fell for a fourth consecutive month to 6.19 million metric tons in April from 7.61 million in March on production outages, preliminary data from financial firm LSEG showed on Wednesday.Recurring mechanical problems have hit Freeport LNG, the second largest U.S. plant by capacity. Last month, the Quintana, Texas, terminal exported five cargoes for a total of 330,000 tons, compared to 21 cargoes and 1.42 million tons in December.Since mid-January, the plant has been operating without at least one of its three gas-processing trains.

Yemen's Houthis said on Tuesday they targeted the MSC Orion container ship in a drone attack in the Indian Ocean as part of their ongoing campaign against international shipping in solidarity with Palestinians against Israel's military actions in Gaza.MSC Orion was sailing between the ports in Sines, Portugal and Salalah, Oman, according to LSEG data.Reuters found conflicting information about the registered owner of the MSC Orion. According to LSEG and other data providers, the ship is owned by Zodiac Maritime…

Carnival's Princess banner is revising itineraries of two of its cruises undertaking a global voyage next year, amid uncertainties in the Red Sea, the cruise operator said on Tuesday.The company said the banner's two "2025 World Cruises"—Island Princess and Crown Princess—would no longer be visiting the Middle East and Asia, and instead would offer new port stops in Africa and Europe.Cruise operators such as Carnival and rival Royal Caribbean are exercising caution as attacks by Iranian-backed Houthi militants on vessels in the Red Sea disrupt shipping in the Suez Canal…

Enterprise Products Partners on Tuesday said it expects to have two contracts for its proposed deepwater oil export terminal by May 31 and reach a final investment decision before year-end.Enterprise's ambitious Sea Port Oil Terminal (SPOT), proposed off for a site off the coast of Texas, would be able to load two supertankers at a single time. It received a key government license this month, but is yet to sign any commercial customers.The cost of the project has soared to about $3 billion…