Overall News

Thyssenkrupp appealed against a decision by the Netherlands last month to award a contract worth billions of euros to build submarines to France's Naval Group, the German company said.Thyssenkrupp Marine Systems (TKMS), the German conglomerate's defence division, filed the objection with the District Court in The Hague in late March, the company said in an e-mailed statement."This measure is a professional business procedure in such publicly tendered major projects and part of the competition - especially in light of the questions that remain unanswered regarding specific evaluation criteria…

Danish shipowner CBED has signed a contract with Siemens Gamesa for the first offshore wind project for its new SOV Wind Creation as part of the CBED fleet.With the new walk-to-work project, the SOV joins commissioning an offshore wind farm in the Netherlands.The project starts at the end of the second quarter of 2024 and runs for the remainder of the year, thereby securing full activity for Wind Creation until the first quarter of 2025.CBED now has all three vessels in the fleet…

Wärtsilä Gas Solutions, part of technology group Wärtsilä, has signed a contract for the supply of cargo handling system for a new 12,500 m3 LNG bunkering vessel being built for Spanish shipowner Scale Gas, a subsidiary of Enagás.The order has been placed by the yard building the vessel, Nantong CIMC Sinopacific Offshore & Engineering, and was booked by Wärtsilä in the first quarter of 2024.The vessel is co-financed from the Support for Sustainable and Digital Transport Programme…

In the first quarter of 2024, global iron ore shipments rose 3.8% y/y on expectation of strong Chinese steel production which, however, failed to materialise. Iron ore supply has grown faster than Chinese demand which could lead to weaker shipments ahead, says Filipe Gouveia, Shipping Analyst at BIMCO.During the start of the year, Brazilian iron ore shipments typically slow down due to mining disruptions caused by heavy rainfall. However, this year conditions were better and Vale…

Since our last market update in the subsea space about a year ago both our current market view and forecasts have strengthened significantly.While the demand picture is looking solid and arguing for a strong multi-year upcycle, the supply side has also started to wake from its slumber albeit ever so slightly at the time of writing. Moreover, we register an interesting dynamic on the shipowner side, where everyone is trying to position themselves for the impeding market boom.Please note that vessel definitions and abbreviations in this part of our industry can vary…

“Wind Turbines: The Bigger, the Better” -USDOE Office of Energy Efficiency & Renewable Energy, August 24, 2023Last December the Bureau of Ocean Energy Management (BOEM) published a proposed sale notice regarding new development areas for utility scale wind projects in the central Atlantic Ocean. The notice includes an upfront issue: the need to mitigate conflicts with U.S. Department of Defense (DOD) activities. BOEM explains that in certain areas the Air Force has set an airspace floor of 1,000 feet above sea level and the Air Force asked BOEM to keep structures below that height.

Classification society ABS has published what it says is the industry's first advisory on methanol bunkering as the cleaner-burning fuel continues to gain interest among shipowners seeking to reduce their environmental footprint.A key component of the methanol value chain and the overall scalability of the fuel will be the ability to bunker methanol, either by truck-to-ship, ship-to-ship or land storage tank/terminal-to-ship, ABS said.The new ABS Methanol Bunkering: Technical…

New York State on Friday stalled three major offshore wind-energy projects after General Electric Vernova GE.N changed the turbine design, which the state said "materially altered" the plans.New York provisionally approved the projects in October 2023. They are Attentive Energy One being developed by TotalEnergies, Rise Light & Power and Corio Generation; Community Offshore Wind, which is backed by RWE and National Grid Ventures; and Vineyard Offshore's Excelsior Wind.But since then…

The port of Corpus Christi, Texas, the top U.S. oil export hub, said it exported 6.40 million barrels per day of crude oil in the first quarter, up 6.9% from the same period a year ago.The U.S. Gulf Coast port handles more than half the nation's oil exports, benefiting from its pipeline ties to South and West Texas shale fields. Its volumes have risen along with shale oil production.Overall, the port has moved nearly 48.9 million metric tons of goods through the Corpus Christi Ship Channel in the first quarter.

Malaysia’s MISC Group has entered into time charter party (TCP) and shipbuilding contracts for the development of world’s first two ammonia dual-fuel Aframax oil tankers.The TCP contract has been signed with Petronas' PETCO Trading Labuan Company (PTLCL), through MISC Group's petroleum arm AET.Using these vessels, PTLCL will be able to transport its products to customers around the world while contributing to the industry decarbonization by utilizing ammonia as the cleaner alternative…

Imoto Lines and Marindows have outlined plans to build the next generation zero-emission domestic container ship capable of hybrid operation using Japan's first exchangeable container batteries, alongside onboard batteries and generators.The joint project between the companies aims to address three major challenges of the maritime industry - decarbonization, crew shortage, and safe navigation.The three-year project is supported by the Ministry of the Environment, Government of…

Uzmar Shipyard in Istanbul, Turkey has launched a first-of-its-kind tractor tug for Turkish operator BOTAS.The vessel, named the Sultanhani, was launched on February 27 as the world’s first Voith propelled tractor tug with liquefied natural gas (LNG) dual fuel propulsion. It is the first of two hulls being built for BOTAS to Robert Allan Ltd.’s TRAktor V3900-DF design.The TRAktor V3900-DF builds on Robert Allan Ltd.’s experience designing both Voith tractor tugs and LNG dual fuel tugs.

The efficacy of surface preparation and coating application in the new construction shipbuilding industry is fundamentally anchored in a well-coordinated, integrated approach. This intricate process, essential for achieving top-tier corrosion control, is methodically segmented into five crucial stages:Raw material entryPainting the modulesSmall partsPainting of erection joints at the module levelFinal paint and ship's completion. Each stage is crucial in its own right but achieves…

Indian sub-continent ship recycling markets enjoyed a greater than expected degree of a post-Ramadan resurgence, reports cash buyer GMS.“Vessel prices across the various destinations seemed to have concurrently enjoyed varying degrees of an uptick this week on the back of which some eye-opening sales were seemingly concluded into the various sub-continent locations.”However, this firming is certainly surprising, given that recycling destination currencies suffered through their own versions of volatility against the U.S.

Partners CY Shipping and BigLift Shipping have ordered two new heavy transport vessels (HTVs), increasing their HTV fleet to six vessels.The first vessel, owned by CY Shipping will be delivered in the fourth quarter of 2025, while the second vessel, owned by BigLift Shipping, is schedule for delivery in second quarter of 2026.Newbuilding contracts for the two new HTVs have been signed with Jing Jiang Nanyang Shipbuilding in China. The vessels, jointly designed by CY Shipping and BigLift Shipping…

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a fourteenth consecutive session on Tuesday as rates for the larger vessel segments slipped.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 24 points, or 1.5%, to 1,570 points, its lowest level in two months.The capesize index dipped by 45 points, or 2.1%, to over a two-month trough at 2,153.Average daily earnings for capesize vessels…

Gearbulk announced it has signed a contract for delivery of up to four ammonia/methanol-ready, 82,300 dwt open hatch newbuildings. The contract is firm for two vessels, with an option to purchase a further two.The Swiss-headquartered company said it has secured financing for the vessels, and CSSC Huangpu Wenchong Longxue shipyard will deliver the first two vessels in the first half of 2027.“This contract for four newbuildings marks a significant milestone for Gearbulk as these vessels are set to be the largest and most efficient in the company’s history…

Ship recycling has again been quiet across the ship recycling globe, reports cash buyer GMS.“Moreover, as an increasing number of vessels past beached have been nearly recycled, and barely any meaningful arrivals have been reported at the respective waterfronts (zero in India this week), frustrated industry players are just … going with the depressive flow,” states GMS.“With that being said and reportedly this week, amidst a sea of floating oldies several high-priced sales were surprisingly confirmed to the various markets (essentially Bangladesh and Pakistan)…

Port Angeles, Wash. boatbuilder BRIX Marine announced the forthcoming launch of the 4615-HTC, a new addition to its line of purpose-built vessels.Currently undergoing construction, the 4615-HTC LandingCat, named Chenega, will have 46-foot-long hull (40 feet at the waterline) and will be about 50 feet long overall, with a 15-foot beam.Designed to perform various tasks, from coastal patrols to offshore support, the newbuild will be powered by quad Yamaha 450-horsepower outboards.

Crowley Maritime Corporation has owned and operated a lot of vessels since its founding in 1892. But the latest vessel to join its fleet is unlike any other that has come before it.Crowley’s new harbor tug, eWolf, is unique in that it runs 100% powered by batteries, not diesel engines, meaning it produces zero emissions and nearly no noise. Not only is the vessel the first fully electric tug in the Crowley fleet, but it is also the first of its kind in the United States.Faced with stricter regulations and commercial pressure to prioritize environmental…

The Baltic Exchange's dry bulk sea freight index fell on Friday to log its third straight weekly decline, weighed down by a dip in rates across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 41 points or 2.5% to 1,628 points, its lowest level in seven weeks.The index was down over 10% for the week.The capesize index was down by 80 points, or 3.4%, at 2,274. It logged a weekly rise of over 13%.Average daily earnings for capesize vessels…

U.S. shipbuilder Eastern Shipbuilding Group, Inc (ESG) on Wednesday announced it is teaming up with Dutch shipbuilding group Royal IHC to design and construct a highly automated hopper dredge for the U.S. Army Corps of Engineers (USACE).The diesel-electric vessel, contracted for the Department of Defense, will be constructed at ESG's Allanton and Port St. Joe facilities in Florida for scheduled delivery in 2027.The new 6,000-cubic-yard-capacity medium-class hopper dredge (MCHD) will be based at the Corps’ Philadelphia District…

According to the latest figures from DNV’s AFI platform, five new orders for alternative fueled vessels were confirmed in March 2024: two methanol, two ammonia and one LNG.Although this was a quiet month for the ordering of alternative fueled vessels, the overall trend remains strong, says DNV. For the first three months of 2024, 68 orders for alternative fueled vessels were made, compared to 44 in the first three months of 2023, representing year-on-year growth of over 50%.Jason Stefanatos…