Reid News

Maersk and CMA CGM, two of the world's largest shipping firms, will impose extra charges after deciding to re-route ships following attacks on vessels in the Red Sea, as worries about the disruption to global trade grow.The surcharges, designed to cover longer voyages around Africa compared with routes via the Suez Canal, will add to rising costs for sea transport since Yemen's Houthi militant group started targeting vessels.Maersk and CMA CGM are among leading shipping lines to have suspended the passage of vessels through the Red Sea that connects with the key Suez Canal…

Fashion brands are a key driver of demand for green shipping fuels, according to shipping group Maersk MAERSKb.CO, as the sector faces pressure from consumers and regulators to reduce their climate footprint.Retailers ship huge volumes of clothes from production centres in countries such as China, Vietnam and Bangladesh to consumers around the world, causing carbon dioxide emissions.Overall, the textile industry is estimated to be responsible for between 2% and 8% of global greenhouse gas emissions…

Norway's Loke Marine Minerals has acquired deep-sea mining firm UK Seabed Resources (UKSR) from Lockheed Martin, the companies said on Thursday.UKSR holds a 100% interest in two deep sea mineral licences in the Clarion-Clipperton Zone (CCZ) in the Pacific Ocean, and a 19.9% interest in the Ocean Mineral Singapore, licences issued by the International Seabed Authority (ISA)."We've got the approval from the UK government... Our ambition is to start extraction from 2030," Hans Olav Hide…

Paducah, Ky. based Marquette Transportation Company earlier this year held a christening ceremony in New Orleans for its towboat Charles Reid Perry.The vessel, built in 2019 by C&C Marine and Repair in Belle Chasse, La., is named after the grandson of Marquette executive chairman John Eckstein. Alix Eckstein Perry, John Eckstein’s daughter and mother of the vessel’s namesake, officially christened the boat.The Charles Reid Perry is designed to operate on the Lower Mississippi River and has the capacity to take up to 42 loads southbound during normal operating conditions.For main propulsion…

Mercury Marine, a division of Brunswick Corporation, on Tuesday announced the launch of its new 5.7L 350 and 400hp Verado outboard engines, said to be the industry's first V10 outboards.The new outboards are compatible with the latest Mercury SmartCraft technologies and will also be offered with an optional dual-mode 48V/12V alternator to pair with Navico Group’s Fathom e-power system, an integrated lithium-ion auxiliary power management system, providing boaters the opportunity…

Fortescue Metals executive chairman Andrew Forrest on Tuesday said his charitable foundation is in favor of a pause on seabed mining, the first time a prominent mining executive has spoken out against the nascent industry.Forrest said the Minderoo Foundation, which he and his wife Nicola fund with the dividends they get from Fortescue, will back a pause until there's sufficient evidence that damage to ocean environments can be prevented.Seabed mining would involve vacuuming up potato-sized rocks rich in battery metals that blanket vast swathes of the sea floor at depths of 4-6 kilometres…

South African miners are losing 815 million rand ($44 million) in export revenue per day due to an ongoing strike at state-owned logistics firm Transnet which has hit commodity exports, an industry body said on Thursday.Transnet's freight rail and port workers earlier said they had rejected a revised pay offer and vowed to continue the strike which started a week ago.The Minerals Council of South Africa said major mineral export harbors were currently operating at between 12% and 30% of their daily averages due to the strike.

Staff shortages caused by an ongoing strike over wages are impacting container and car terminals at South Africa's Durban port, one of the busiest on the continent, a unit of state-owned logistics company Transnet said on Tuesday.Transnet, which manages South Africa's freight rail network and ports, declared force majeure last week after its workers went on strike over a wage dispute.In an update on its website, Transnet Port Terminals said the strike had impacted waterside and landside operations at its Durban port…

RIX Industries, a developer of gas generation systems and energy technologies, announced Blue Deep International (BDI) as a new sales partner for the commercial marine and international naval defense markets. U.K.-based BDI is a representative agency servicing countries and regions across the globe including Western Europe, North America, and Australia.Effective May 1, 2022, BDI represents RIX exclusively in the United Kingdom, Germany, Italy, The Netherlands, Norway, Denmark, Sweden, and Finland acting as a sales partner.

U.S. exports of liquefied natural gas (LNG) fell about 8% last month, according to preliminary Refinitiv vessel tracking data on Monday, but Europe remained the top importer as the continent secures alternate supply following Russia's invasion of Ukraine.U.S. LNG exports to all destinations came to about 7.10 million tonnes (MT) last month, according to Refinitiv, down from a record high 7.67 MT in March.Europe was the top importer of U.S. LNG for a fifth straight month, taking about 64% of U.S. exports, according to the data.

South Africa's major port of Durban, where operations were disrupted by severe flooding last week, is now functional and a backlog of thousands of containers will be cleared within five to six days, the public enterprises minister said on Tuesday.The floods caused extensive damage to roads leading to Durban port, one of the busiest shipping terminals in Africa and a key hub for exports like metals and agricultural commodities and imports like fuel.Scientists believe the southeastern…

German outboard manufacturer Neander announced it has welcomed Richard Whiting on board to join the team as marketing director. Whiting brings many years of experience in increasing brand awareness and will be responsible for leading all of the company's communications efforts designed to promote the Dtorque 50 diesel outboard and build customer confidence in the product.Whiting said, "I'm absolutely thrilled to be joining the outstanding Neander team. Having worked with Joel Reid at Cox Powertrain as Creative Manager in the past…

Sky-high European demand drove U.S. liquefied natural gas (LNG) exports to a record in December, Refinitiv data showed, with winter supply worries set to sustain orders for the fuel.About half of the record U.S. LNG volumes shipped last month went to Europe, up from 37% earlier in 2021, data from Refinitiv and the U.S. Energy Information Administration showed.The gains reflected soaring demand for the home heating and industrial fuel that pushed prices in Europe and Asia to record highs.

RIX Industries, developer of energy technologies and industrial power systems, announced it has secured a $1.6 million contract award from the Defense Logistics Agency (DLA), the nation’s combat logistics support body within the U.S. Department of Defense (DoD). The contract stipulates the purchase of spare RIX liquefier modules for the U.S. Navy’s existing shipboard-qualified liquid oxygen (LOX) production systems, also from RIX. These LOX units, currently deployed onboard USS Gerald R. Ford (CVN 78) and USS John F.

RIX Industries is advocating on-vessel hydrogen-on-demand as the key to building momentum in decarbonization for the maritime industry. According to the company, which presented recently at an industry exhibition in New Orleans, its solution eliminates the complexities of high-pressure gas or cryogenic liquid hydrogen storage, hydrogen-on-demand transforms methanol to feed fuel cells as needed in a self-contained, small footprint system. “To capitalize on hydrogen’s promise as an on-vessel source of power…

Shipping companies that transport the world's coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel.In a sign of investors taking the initiative, six European firms collectively representing over 5% of the estimated annual $16 billion capital financing requirements of the dry bulk industry told Reuters they were either reducing their exposure to vessels that…

Regulations governing deep-sea mining will take longer to finalize due to the global pandemic, a group of Latin American countries said, creating uncertainty for companies looking to mine the sea bed for metals, including cobalt and nickel.The delayed negotiations also pose a potential difficulty for companies seeking financing from investors to mine the sea floor.The U.N.’s International Seabed Authority (ISA) is working on global rules covering sea bed mining, which is not allowed…

A large oil spill off the southern California coast left fish dead, birds mired in petroleum and wetlands contaminated, prompting local officials to call it an environmental catastrophe.The U.S. Coast Guard, heading a clean-up response involving federal, state, and city agencies, said on Sunday there was an around-the-clock investigation into how the spill occurred.An estimated 126,000 gallons, or 3,000 barrels, had spread into an oil slick covering about 13 square miles of the Pacific Ocean since it was first reported on Saturday morning…

U.S. Gulf Coast crude oil exports are flowing again after recent hurricanes took out 26 million barrels of offshore production, according to sources and Refinitiv Eikon data, with local prices easing as more shipments moved out of the region.Hurricanes Ida and Nicholas damaged platforms, pipelines and processing hubs, shutting in most offshore production for weeks. Restarts continued on Thursday with about 28% of U.S. Gulf of Mexico crude output offline. Some vessels remained at sea waiting to load U.S. crude.But of more than 50 tankers set to load U.S.

The Metals Co (TMC) was trading down around 17% after listing on the Nasdaq on Friday following its creation from the merger of deep-sea mining exploration firm DeepGreen and a blank-check company.TMC opened at $11.0535 a share but started falling soon after, hitting a low of $8.31.In a filing on Tuesday, TMC said it had received only $110.3 million of the proceeds from a private placement of Sustainable Opportunities Acquisition Corp (SOAC) shares, having entered into agreements with investors for a $330 million placement.“SOAC intends to continue to seek to enforce the funding obligations of

As the bid package goes out to shipyards, Sylvain Julien, Director, Naval Architecture, Specialized Ship Design, BMT, discusses how local stakeholder demands and futureproofing shipboard technology drove the design of a pair of ferries for the Isles of Scilly Steamship Company.The Isles of Scilly Steamship Company Ltd. has provided a lifeline to the Isles of Scilly since it was formed in 1920. When attention turned to designing a pair of new vessels – one passenger and one cargo – to service the island…

A cyber attack has disrupted container operations at the South African port of Cape Town, an email seen by Reuters on Thursday said.Durban, the busiest shipping terminal in sub-Saharan Africa, was also affected, three sources with direct knowledge of the matter told Reuters.Cape Town Harbour Carriers Association said in an email to members, seen by Reuters: "Please note that the port operating systems have been cyber-attacked and there will be no movement of cargo until the system is restored."Transnet's official website was down on Thursday showing an error message.Transnet…

Naval architecture and marine engineering firm BMT has introduced new passenger and cargo vessel designs to replace older tonnage in the Isles of Scilly Steamship Company fleet.Designed to replace the 44-year-old Scillonian III, a new 72-meter vessel Scillonian IV will carry 600 passengers over three decks with a contemporary, comfortable seating arrangement, onboard coffee shop and retail area. It will be capable of a speed of 18 knots, reducing journey time by 20%; anti-roll fins to improve the stability of the crossing…