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Tuesday, March 19, 2024
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15 Mar 2024

Fortescue Conducts World's First ammonia Bunker Trial in Singapore

Source: MPA

Fortescue has conducted the world's first ammonia marine bunker operation in the port of Singapore, the city-state's Maritime and Port Authority (MPA) and the Australian mining company said on Friday.The Singapore-flagged Fortescue Green Pioneer was loaded with liquid ammonia from an existing facility at Jurong Island's Vopak Banyan Terminal for the trial, Fortescue and MPA said in a joint statement.The vessel is dual-fuelled and can adopt ammonia for bunkering in combination with diesel.

12 Mar 2024

SAAM Closes 2023 with Historic Earnings

Source: SAAM

SAAM reported net income of US$501 million in 2023, representing its best-ever results thanks to the sale of its port and logistics assets to Hapag-Lloyd, which generated a net gain of US$422 million.Sales for the year totaled US$540 million and EBITDA was US$160 million, surpassing the prior year by 17% and 9%, respectively."The sale of our port terminal and inland logistics operations leaves us in a solid position to move forward on the path we have set for ourselves: to lead the consolidation process in the towage industry and grow in air cargo logistics services.

01 Mar 2024

US Gulf Coast Fuel Oil Imports Hit Five-year Low

© scandamerican / Adobe Stock

Imports of fuel oil bound for the U.S. Gulf Coast fell to a five-year low last month as refiners ran more cheap, heavy Canadian crude and geopolitical tensions in the Middle East pressured fuel oil flows.Fuel oil deliveries to the Gulf Coast dwindled in February to just 318,000 barrels per day (bpd), a 20% drop from the prior month and marking their lowest level since February 2019, data from tanker tracking firm, Kpler showed.Heavy fuel oil feedstocks like high sulfur fuel oil…

01 Mar 2024

LMG Marin Tapped to Support Eastern Pacific eSAIL Install

LMG Marin France reports it has secured an engineering contract with Eastern Pacific Shipping (EPS) for integration of bound4blue eSAILsEPS will install its first ever wind-assisted propulsion system, three 22-metrer eSAILs o,n board the 2019-built oil and chemical tanker Pacific Sentinel in Q4 this year. The expected net gains in term of consumption are 10% subject to routing.LMG Marin said it worked with EPS, bound4blue, ABS to ensure preliminary feasibility studies of the turnkey eSAILs solution onboard the 183-metre…

21 Feb 2024

Demand for Maritime Shaft Generators Increasing

Controllable pitch propeller.
Source: MAN Energy Solutions

30 years ago shaft generators with PTI capability kept container ships sailing at top speed. That purpose gone, PTI/PTO is making a new comeback in more cargo shipping segments, this time for reducing emissions.Retrofitting a shaft generator is not an insignificant undertaking. Around 50 tons of equipment needs to be installed into the engineroom through a hole in the hull. A new section of shaft is usually required.That a few shipowners are undertaking such projects - Klaveness Combination Carriers on the Ballard…

21 Feb 2024

Fincantieri and EDGE to Launch JV for Naval Vessels Construction


Hamad Al Marar, EDGE’s Managing Director and CEO, and Pierroberto Folgiero, CEO and Managing Director of Fincantieri (Credit: Fincantieri)

EDGE Group, a United Arab Emirates-based advanced technology and defense group, and Fincantieri, one of the largest shipbuilders in the world, have entered into a term sheet aimed at creating a joint venture (JV) that will focus on the manufacturing of a broad range of sophisticated naval vessels.EDGE will hold a 51% stake in the venture, which has a commercial pipeline valued at approximately $32.4 billion (€30 billion), with management direction provided by Fincantieri.The Abu Dhabi-based JV will be awarded prime rights to non-NATO orders…

13 Feb 2024

Four Japanese Companies Form Consortium for Eco-Friendly VLCCs Concepts

Eco-Friendly VLCC Concept (Credit: NYK)

Idemitsu Tanker, IINO Kaiun Kaisha (IINO Lines), Nippon Yusen Kabushiki Kaisha (NYK), and Nihon Shipyard have established a consortium to conduct joint research and development of design concepts for Malacca Max-type very large crude oil carriers (VLCCs).The design concepts, including machinery and environment equipment, will be developed with a view of reducing greenhouse gas (GHG) emissions, the consortium that was initiated by Idemitsu Tanker said.Aiming to reduce emissions by 40% or more compared to previous levels…

11 Feb 2024

Subcontinent Ship Recycling Market Remarkably Quiet

Source: GMS

Despite the Pakistani & Bangladeshi markets stabilizing and displaying a far greater aggression at the bidding tables over the last five weeks, it has been a remarkably quieter start to 2024 for ship recycling than many had anticipated, says cash buyer GMS.With Houthi attacks, trading markets have remained unseasonably firmer, thereby delaying the historical ‘post-New Year aggression’ from the sub-continent ship recycling markets that the industry has become accustomed to over…

05 Feb 2024

MOL and JX to Develop Japan-Australia Cross Border CCS Value Chain

(Credit: MOL)

Japanese shipping firm Mitsui O.S.K. Lines (MOL) and JX Nippon Oil & Gas Exploration Corporation (JX) have signed a memorandum of understanding (MoU) to develop a carbon capture and storage (CCS) value chain between Japan and Australia, including CO2 marine transport.The MoU focuses on the establishment of a CCS value chain by capturing CO2 emitted from ENEOS refinery and nearby various industries in Japan, transporting it by CO2 carrier to the Port of Bonython in Australia, and…

04 Jan 2024

Collision Between Containership and Fishing Vessel Caused by Failure to Keep Watch

Tremont bow awash during the abandonment as seen from the Atlantis. (Source:
Lance Wills, courtesy NTSB)

A fishing vessel mate not maintaining a proper lookout and conducting maintenance on critical equipment while underway led to the collision of a containership and fishing vessel, the National Transportation Safety Board (NTSB) said Wednesday. No injuries were reported. Damage to the vessels was estimated at $6.25 million.On October 28, 2022, while the containership MSC Rita was transiting southbound in the Atlantic Ocean, the fishing vessel Tremont was transiting north-northeast in the same area.

26 Dec 2023

Maritime Innovation: Fostering Creativity and Working to Make Bright Ideas Work

© Yellow Boat / Adobe Stock

This is the dawning of the age of AI and Big Data, huge agglomerations of new and transformative energy; almost self-generating, always strengthening and pulling at the reins, seeking to break free and run, a prospect both exciting and terrifying. That image can imply a human is holding the reins. How quaint: these days, AI itself may be holding the reins.In a review of innovation in 2023 – across any industrial or economic sector, not just maritime – AI looms large, a game-changer equivalent to IBM’s programming advances in the 1940s.

14 Dec 2023

Gulf Craft Building New Ferry for US Virgin Islands

(Image: Incat Crowther)

Franklin, La. shipbuilder Gulf Craft LLC in November kicked off construction on new Incat Crowther-designed passenger ferry for the U.S Virgin Islands.The new USCG Subchapter-K approved, 104-foot (32-metre) vessel will service the busy tourist and commuter route between Red Hook on the island of St. Thomas, and Cruz Bay on the island of St. John. Currently, two other Incat Crowther-designed 28-metre vessels service this route.The simple yet stylish new ferry will be designed with…

13 Dec 2023

Star Bulk and Eagle Bulk Agree to $2.1 Billion Merger

© Ivan / Adobe Stock

Dry bulk shipping companies Star Bulk Carriers and Eagle Bulk Shipping have reached a deal to merge in a $2.1 billion all-stock deal.The terms of the definitive agreement have received unanimous approval from the boards of directors of both New York-listed ocean carriers, and the companes expect the deal to close in the first half of 2024 following approvals from regulators and Eagle shareholder.Eagle shareholders will receive 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned.

07 Dec 2023

Structural Safeguards in Coast Guard Suspension and Revocation Proceedings

Chief Judge Brudzinski has been an Administrative Law Judge with the U.S. Coast Guard since 2003 and its Chief Administrative Law Judge since 2013.  He has lectured extensively and has authored many articles on Coast Guard suspension and revocation proceedings for MarineLink publications, among others. The opinions expressed in this article are the author’s alone and do not necessarily reflect the official policy of the U.S. Coast Guard

This article examines 10 structural safeguards in Coast Guard Suspension and Revocation (S&R) Proceedings that ensure Coast Guard Administrative Law Judge (ALJ) decisional independence. These safeguards separate potential agency influences from the ALJ decision making process and are critical to mariner due process and fundamental fairness. We will start with an overview of Coast Guard S&R proceedings, followed by brief discussions of the Administrative Procedure Act, Administrative Law Judges, and U.S. Office of Personnel Management oversight.

05 Dec 2023

Ship Recycling Markets Continue to Struggle

Source: GMS

Ship recycling markets continue to struggle going into the final weeks of the year, reports cash buyer GMS. There has been very little activity or new sales to report, with most end users abstaining from buying and rather wishing to wait and watch developments.Contrary to many expectations, India has lost around 3,000 rupees ($35/LDT) from steel prices.Pakistan was buoyed by the news that their country will sign up to the Hong Kong Convention – which will enter into force from 2025…

30 Nov 2023

bp's Search for New CEO to Extend into Next Year

Murray Auchincloss (Source: bp)

bp's search for a new chief executive is set to extend into the first quarter of 2024, three sources told Reuters, while the board's probe into whether previous CEO Bernard Looney breached the code of conduct in his undisclosed personal relationships with staff drags on.The oil company has been in turmoil since Looney's resignation in September, company sources told Reuters, and the share price has underperformed rival Shell since then amid investor uncertainty over bp's future strategy.bp's shares have dropped 9% since Looney's departure, while Shell's have gained 2% over the same period.

28 Nov 2023

Ship Recycling Prices Remain Low

Source: GMS

Subcontinent ship recycling pricing and sentiments remain stranded in the low 500s/LDT and for certain units even below, says cash buyer GMS.“We meander aimlessly towards the end of the year with very little serious and enticing levels to induce either owners or cash buyers to sell.”Available financing remains a big issue in both the Pakistan and Bangladesh markets, and there are only very tentative offers emanating as a result, on mostly smaller LDT vessels.“Container and dry bulk markets continue to provide the still fairly limited supply of vessels for recycling, and one sale from each sect

28 Nov 2023

First Triple LEO Network Established for Polar Cruise Ship

The installation is the first at the North Pole to combine Marlink’s Sealink GEO VSAT, with Starlink, Eutelsat OneWeb and Iridium LEO services. Picture © PONANT – Julien Fabro.

Digital network provider Marlink has completed the integration of internet services on Ponant’s Le Commandant Charcot to provide three LEO solutions for the ship’s polar itineraries.The installation is the first in the maritime sector to combine Marlink’s Sealink GEO VSAT, with Starlink, Eutelsat OneWeb and Iridium LEO services. The agreement with Ponant reflects Marlink’s ability to provide guaranteed throughput VSAT services with emerging high speed, low latency LEO services.The…

28 Nov 2023

Allen Marine Tours to Repower Two Vessels with Scania Engines

(Photo: Allen Marine Tours)

Scania was selected by Allen Marine Tours to power a pair of their eco tour vessels. The two 78-foot QUAD powered vessels will each be repowered with Scania V8 DI16 082M, 800 HP engines delivered by Cascade Engine Center. The custom-built catamarans are capable of 30 plus knots at their full capacity of 150 passengers, and speeds in excess of 35 knots with a lighter load.“We have seen a lot of interest in our V8,16-liter engines by tour operators in ecologically sensitive areas like Alaska due to their low environmental impact…

21 Nov 2023

Meet the CIO: Erika Graziuso, Crowley

Photo credit Rick Wilson/Courtesy Crowley

Erika Graziuso, Chief Information Officer, Crowley, brings a breadth and depth of non-maritime experience to bear in her quest to drive Crowley’s digital transformation in the name of decarbonization, holistic transportation efficiency and crew attraction and retention.Emulating best practices from industries outside of maritime has been a mantra in boardrooms and conferences for decades, as traditional maritime mindset has, at times, been seen as an impediment to achieving next-level efficiency.Enter Erika Graziuso…

16 Nov 2023

VARD and Windward Select Brunvoll Propulsion for New Series of CSOVs

VARD and Windward at Brunvoll’s facilities in Molde. Photo: Brunvoll AS / Jørgen Eide.
From the left, Øystein Aarsæther (VARD), Arnim Von der Lieth (Windward), Bernt Rune Riksfjord (Brunvoll),
Martin Ingjerd (VARD), and Geir Larsen (Brunvoll).

Brunvoll has received an order for the delivery of propulsion and manoeuvring packages for Windward Offshore's new Commissioning Service Operation Vessels (CSOVs). The order is for two vessels, with two additional vessels as an option.Windward’s new vessels will have two propulsion azimuth thrusters in the aft, and two retractable azimuth thrusters and a tunnel thruster in the bow. All azimuth thrusters feature the latest and greatest improvements to meet the increasingly stricter requirements for rapid, safe, and accurate DP operations for SOVs/CSOVs.

14 Nov 2023

Glosten, Siemens Energy Select Key Equipment Vendors for World's First Hydrogen-hybrid Research Vessel

Credit: Glosten

Naval architecture and marine engineering firm Glosten and Siemens Energy have selected Ballard Power Systems and Chart Industries as primary equipment vendors for their design of what will be the first hydrogen-hybrid research vessel in the world. The vessel, nominally known as the CCRV, is currently in the design phase and will be owned and operated by UC San Diego’s Scripps Institution of Oceanography (Scripps). Ballard Power Systems will provide the fuel cells which will help power the vessel…

04 Oct 2023

New England States Buy Offshore Wind Power as US Industry Struggles

© Cavan / Adobe Stock

Three U.S. states in New England - Massachusetts, Rhode Island and Connecticut - on Wednesday agreed to jointly procure offshore wind power as soaring interest rates and rising equipment and labor costs have made some projects uneconomic.By joining forces, the states hope to counter the pain rippling across the nascent U.S. offshore wind industry, which is expected to play a key part in decarbonizing the power sector and revitalizing domestic manufacturing.Earlier this week, another…

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