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Thursday, March 28, 2024
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Shipping Company News

26 Mar 2024

Six Presumed Dead After Baltimore Bridge Collapse

Satellite image ©2024 Maxar Technologies.

Six workers were missing and presumed dead from a bridge that collapsed in Baltimore Harbor early on Tuesday after a massive cargo ship crippled by a power loss rammed into the structure, forcing the closure of one of the busiest ports on the U.S. Eastern Seaboard.With dive teams facing increasingly treacherous conditions in the darkened, wreckage-strewn waters, active search-and-rescue operations were suspended about 18 hours after the accident, U.S. Coast Guard and Maryland…

26 Mar 2024

Leadership Profile: Tor Svanes and NAVTOR's Quest to Transform Shipping

Tor Svanes, Founder and CEO, NAVTOR. Image courtesy Navto

Compliance, performance, profitability, sustainability; take the biggest ‘pain points’ for almost any shipping company and watch NAVTOR’s digital ecosystem work wonders. Here Tor Svanes, Founder and CEO, explains how NAVTOR has grown to lead the smart shipping world, why the recent merger with Voyager Worldwide was so critical, and how he hopes to help steer the industry towards brighter, simpler, and more intelligent horizons.“The morning of the announcement I got a text from the boss of one of our biggest competitors…

26 Mar 2024

Cargo Ship Lost Power Before Slamming Bridge in Baltimore

Collapsed Francis Scott Key Bridge in Baltimore (Credit: Screenshot/StreamTime Live)

A massive cargo ship smashed into a bridge while sailing out of Baltimore early on Tuesday, sending cars and people into the river below and closing one of the busiest ports on the U.S. Eastern Seaboard.Rescuers pulled out two survivors, one of whom was hospitalized, and searched for more in the Patapsco River after huge metal spans of the 1.6-mile (2.57 km) Francis Scott Key Bridge crumpled into the icy water around 1:30 a.m. (0530 GMT).The ship reported a power issue before impact…

26 Mar 2024

Ship That Hit Baltimore Bridge Also Involved in 2016 Antwerp Accident

Collapsed Key Bridge in Baltimore (Credit: Screeshot/StreamTime Live)

The ship that caused the collapse of the Francis Scott Key Bridge in Baltimore early on Tuesday was also involved in an accident in the port of Antwerp, Belgium, in 2016.The Antwerp port authorities said the container ship Dali hit a quay on July 11, 2016, as it tried to exit the North Sea container terminal.The port authority could give no details about the cause of the accident, but said the ship had remained at the dock for repairs for some time after the incident."As a general rule, these accidents are investigated and ships are only allowed to leave after experts have determined it is saf

26 Mar 2024

Baltimore Bridge Collision Sends Vehicles Tumbling Into Water

Collapsed Key Bridge in Baltimore  (Credit: Screenshot/StreamTime Live)

A container ship smashed into a four-lane bridge in the U.S. port of Baltimore in darkness on Tuesday, causing it to collapse and sending cars and people plunging into the river below.Rescuers pulled out two survivors, one in a "very serious condition," and were searching for more in the Patapsco River after huge spans of the 1.6-mile (2.57 km) Francis Scott Key Bridge crumpled into the water.The ship "lost propulsion" as it was leaving port, and crew on board notified Maryland officials they had lost control of the vessel, ABC News reported, citing an unclassified U.S.

26 Mar 2024

Ship That Collided with Baltimore Bridge Was Chartered by Maersk

(Credit: Screenshot/X)

The Dali container vessel that collided on Tuesday with a bridge in Baltimore was chartered by shipping company Maersk at the time of the accident, the Danish company said in a statement."We are horrified by what has happened in Baltimore, and our thoughts are with all of those affected," Maersk said.The Dali was set to depart Baltimore early on Tuesday and arrive at Colombo on April 22, according to a schedule on Maersk's website.The vessel is owned by Singapore's Grace Ocean Pte and managed by Synergy Marine Group, according to LSEG data.(Reuters - Reporting by Terje Solsvik and Louise Rasmu

22 Mar 2024

Maersk Will Avoid Red Sea Despite EU Security Operation

© aerial-drone / Adobe Stock

Shipping company Maersk said on Friday it was too early to resume sailings through the Red Sea due to a continued elevated risk level, despite an initiative by the European Union to increase safety in the region.Maersk, one of the world's biggest container shipping companies, suspended Red Sea traffic on Jan.

20 Mar 2024

Reliance Refusing Sovcomflot Oil Shipments

© momentscatcher / Adobe Stock

India's Reliance Industries, operator of the world's biggest refining complex, will not buy Russian oil loaded on tankers operated by shipping company Sovcomflot (SCF) after recent U.S. sanctions, according to two sources familiar with the matter.The development adds to oil export problems for Russia as its oil firms may face difficulties finding ships to sell surplus oil after recent Ukrainian drone attacks on the state's refineries. Russian companies are already struggling to collect payments for oil exports due to banking restrictions.The U.S.

14 Mar 2024

Seapath Launches Jones Act Leasing Business

(Photo: The Libra Group)

Libra Group subsidiary Seapath has launched a Jones Act leasing business offering maritime leasing and financing solutions and a growing portfolio of vessels valued at approximately $25 million.The group said it sees significant unmet demand for the supply of Jones Act compliant transport assets.Joshua Lubarsky, president of Seapath, said, “Domestic maritime transportation is the backbone of the U.S. transportation system. By launching our new Jones Act leasing business, Seapath…

08 Mar 2024

Autonomous Shipping Company Massterly Opens Operations Center in Norway

Left to right: Bjørn Jalving, CTO at Kongsberg Maritime; Christina Maria Bratli, Mayor of Horten Municipality, Norway; Tom Eystø, CEO at Massterly; Espen Gjerde, SVP at Wilhelmsen New Energy and Board Member at Massterly (Photo: Massterly)

Massterly has opened its new Remote Operation Center (ROC) in Horten, Norway as the company transitions from the testing phase to fully-fledged autonomous vessel operational capabilities."The opening of the ROC is a milestone in Massterly's history and represents a big step forward for autonomous shipping," said Tom Eystø, General Manager of Massterly, a jointly owned venture between Kongsberg Maritime and the Wilhelmsen Group formed in 2018. "With the support of our owners, including our partners ASKO…

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…

06 Mar 2024

Russia Oil Fleet Shifts Away from Liberia, Marshall Island Flags Amid US Sanctions Crackdown

© evannovostro / Adobe Stock

Dozens of oil tankers used by Russia have stopped sailing under the Liberian and Marshall Islands flags in recent weeks after the United States ramped up sanctions enforcement on ships linked to those registries, according to shipping data and interviews with industry and government officials.The shift reflects the close relationship between the U.S. and the flag administration companies of Liberia and the Marshall Islands, which are headquartered not in their home countries, but in Virginia, just miles from Washington D.C. and within the jurisdiction of U.S.

05 Mar 2024

Predictive Tech Could Extend Tank Inspection Intervals on LNG Carriers

© Wojciech Wrzesień / Adobe Stock

Inspection intervals for liquefied natural gas (LNG) carrier membrane tanks could be safely extended thanks to monitoring technology and predictive maintenance, according to a study led by GTT Group, Lloyd’s Register and Shell International Trading and Shipping Company Limited.The International Gas Carriers (IGC) Code and IACS UR Z16 rules require LNG carrier cargo tanks to be inspected internally every five years. This joint study explored whether this interval could be extended…

01 Mar 2024

Cochin Shipyard Cuts First Steel for SAMSKIP's Zero-emission Containership

(Image: Samskip)

Indian shipbuilder Cochin Shipyard has cut first steel for the first vessel in Samskip's new series of zero-emission, autonomous ready shortsea containerships.The first of two contracted vessels, Samskip SeaShuttle, will also be among the world's first zero-emissions short sea container vessels fueled by green hydrogen.The 135-meter-long containerships were ordered by marine robotics specialist Ocean Infinity for scheduled delivery in 2025 and will be operated under long-term charter by Rotterdam-based shipping company Samskip on its west European routes.

29 Feb 2024

Germany Opens Remote-Controlled Center for Inland Shipping

© SEAFAR

SEAFAR, a Belgian technology and service provider for remote-controlled inland waterway shipping operations, has set up the first Remote Operations Center in Germany; a project completed in conjunction with HGK Shipping and Reederei Deymann.The Remote Operations Center, opened on February 28, 2024, enables captains to navigate vessels on inland waterways from dry land, a development seen as central to stemming problems from the shortage of specialist workers. The partners are working with the public authorities to use the permits…

28 Feb 2024

Esvagt Enters South Korea’s Offshore Wind Market

(Credit: Esvagt)

Danish vessel owner Esvagt and South Korea-based shipping company KMC Line have formed strategic partnership to cooperate on offshore wind opportunities in the East Asian country.A new collaboration between Esvagt and KMC Line, formalized through the signing of the letter of intent, is aiming to unlock the considerable potential in South Korean offshore wind industry.Combining the two shipping companies' respective strengths is the new partnership's strongest card to secure a significant market position in the developing offshore value chain in the country…

27 Feb 2024

New Container Shipping Company Launched in Saudi Arabia

Poul Hestbaek (Photo: Folk Maritime)

A new container shipping line has been launched in Saudi Arabia.The newly formed company, Folk Maritime, will provide feeder vessel and short-sea shipping services in the Middle East and the surrounding region.The Riyadh-headquartered company is led by CEO Poul Hestbaek, who previously served as CEO of Maersk's Hamburg Sud.Other executives include chief commercial officer Saleem Kadernani, chief financial officer Khalid Fawzi and chief human resources officer Abdulrahman Alshangiti.

27 Feb 2024

CMA CGM, COSCO, Evergreen and OOCL Extend OCEAN Alliance to 2032

© MichaelVi / Adobe Stock

French shipping company CMA CGM and its business partners COSCO Shipping 601919.SS, Evergreen 2603.TW and OOCL said on Tuesday that they had agreed to extend their 'OCEAN Alliance' co-operation deal for another five years beyond 2027, to 2032.The 'OCEAN Alliance' partnership aims to help customers deal with their supply chains by offering up fast transit times and access to a wide range of ports, said CMA CGM.The agreement to extend the partnership was signed in Shanghai on Tuesday."The decision to extend our co-operation for at least five more years forges our commitment to meet our customers

26 Feb 2024

Great Eastern Buys MR Tanker

© Prapat / Adobe Stock

The Great Eastern Shipping Company Limited announced it has contracted to buy a medium range (MR) product tanker of about 49,999 dwt on February 14, 2024. The 2010-built vessel is expected to join the company’s fleet by Q1 FY25.The proposed ship will be financed entirely from internal accruals, the Mumbai-based company said, noting that the purchase is part of a wider effort to modernize and expand its fleet.Excluding the newly acquired vessel, the company’s current fleet stands at 42 vessels…

26 Feb 2024

Xeneta Appoints Chief Product Officer

Fabio Brocca courtesy of Xeneta

Fabio Brocca after being appointed Chief Product Officer at ocean and air freight rate benchmarking platform, Xeneta.Brocca was previously Head of Product for Global Transportation Technology at Amazon.“Amazon showed me the importance of working backwards from the customer and how a best-in-class tech company is run.“When you are transforming an industry, you must think long term. What we think is needed today may not be what’s needed tomorrow, so it is a continuous pursuit of innovation.“There is a beautiful quote from Jeff Bezos where he says…

23 Feb 2024

Hanwha Ocean Secures $258M Order for Two VLCCs

(Credit: Hanwha Ocean)

South Korean shipbuilder Hanwha Ocean has received an order to construct two very large crude carriers (VLCCs) for a shipping company in Oceania.The order for VLCCs, worth $257.8 million (342 billion won), is the first such order for Hanwha Ocean in the last three years. This is also the highest price for the vessels in 16 years, since the 2008 global financial crisis, the company said.The ships will be built at the Geoje plant and delivered to the shipowner in the first and second half of 2026…

21 Feb 2024

KR Verifies HMM’s GHG Reduction Calculation Methodology

Song Kanghyun (left), Head & Senior Vice President of KR’s DecarbonizationㆍShip R&D Center, and Kim Shin (right), Chief Container Business Officer of HMM.

KR has awarded a third-party verification certificate for a “Greenhouse Gas Reduction Calculation Methodology” developed by HMM, South Korea’s largest shipping company.The methodology is based on the Renewable Energy Directive II, a regulatory framework adopted by the EU to promote the use of renewable energy to all member states.The greenhouse gas reduction methodology verified by KR involves calculating the amount of reduced greenhouse gases (GHG) based on the fuel's life cycle emissions (WtW…

21 Feb 2024

ARC Keeps the Cargo Rolling

Flags on M/V ARC Defender.
Image courtesy ARC

With a fleet of nine U.S.-flag RoRo ships, American Roll-On Roll-Off Carrier Group (ARC), is the U.S.’ premier commercial RoRo carrier of U.S. government and military cargo. As the world becomes an increasingly contentious place, Eric P. Ebeling, President & CEO, ARC, discusses the vast capabilities of the ARC fleet and logistics network, as well as the challenges and opportunities ahead for U.S.-flag ships in the international trade.By the numbers’ is a simplistic means to gauge the size and shape of any shipping company…