Silva News

The shipping industry's pledge to limit its carbon footprint may suffer a setback as the current Red Sea crisis prompts it to use more vessels and take longer routes to ensure the smooth sailing of global maritime trade.Iranian-backed Houthi militants' attacks on vessels passing through the southern Red Sea have choked trade through the Suez Canal, driving many container shipping companies to add 10-14 days to the voyages between Asia and Europe and add more vessels.The disruption…

The presidents of France and Brazil on Wednesday launched a submarine built in the South American country with French technology in a program that aims to build Brazil's first nuclear-powered submarine by the end of the decade.Presidents Emmanuel Macron and Luiz Inacio Lula da Silva attended a ceremony in the Itaguai shipyard near Rio de Janeiro, launching the third diesel-powered submarine built in a $10 billion partnership.Brazil first lady Janja da Silva smashed a champagne…

The Australian Commercial Marine Group (ACMG) has merged with the Commercial Vessels Association (CVA).The CVA has been a steadfast advocate for the interests of commercial vessel operators. Specializing in operations on Sydney Harbour and extending its influence throughout regional NSW, the CVA encompasses a diverse range of operators, including ferry services, tour and party boats, houseboats, whale and dolphin watching ventures and fishing charters.The association played a pivotal role in advocating for the Marine Tourism and Charter Vessels Award…

Brazil's Petrobras will invest around $102 billion within the 2024-2028 period, the firm's new strategic plan showed on Thursday, representing a major boost in expected investments by the state-run oil company.The plan, the first released by the oil giant since CEO Jean Paul Prates took the helm of the company, includes investments in a range of different segments, with most of it going into oil exploration and production.The figure represents a 31% leap from the $78 billion Petrobras…

A barge carrying three trucks and 2,000 empty cooking gas cylinders lies stranded on the vast sand banks of a diminished Rio Negro river after running aground last month, highlighting the plight of river transport in the Amazon region hit by severe drought.Officials warned that low river levels risk disrupting grains exports from nearby farm states. On the Madeira, they said barge routes used by grain firms such as Cargill, Bunge and Amaggi, are open but loads are being reduced as a precaution.Shipping and logistics group A.P.

Israel on Thursday criticised Brazil's decision to grant berth to two Iranian warships in the face of U.S. pressure, and urged President Luiz Inacio Lula da Silva's government to send them away.The vessels docked in Rio de Janeiro on Sunday. Reuters reported that Brazil had declined to admit them in January, in a goodwill gesture from Lula as he flew to Washington to meet U.S. President Joe Biden.Israel and Iran have been locked in a Cold War-style conflict for decades, which has included mutual accusations of maritime sabotage…

Brazilian President Luiz Inacio Lula da Silva said on Monday his government would promote recovery in the country's shipbuilding and oil and gas sectors, with more investment from state-run oil firm Petrobras SA  and development bank BNDES. "Petrobras will return to invest here in Rio de Janeiro and the BNDES will invest more in the country's productive sectors," he said during the inauguration of a health facility in Rio de Janeiro state. (Reuters - Reporting by Rodrigo Viga Gaier; Editing by Sarah Morland)

Brazil sank a decommissioned aircraft carrier in the Atlantic Ocean off its northeast coast, the Brazilian Navy said, despite warnings from environmentalists that the rusting 1960s French-built ship would pollute the sea and the marine food chain.The 32,000-tonne carrier had been floating offshore for three months since Turkey refused it entry to be scrapped there because it was an environmental hazard and the ship was towed back to Brazil.The carrier was scuttled in a "planned and controlled sinking" late on Friday…

A decommissioned 32,000-ton 1960's aircraft carrier has been floating off Brazil's shore for three months since Turkey refused it entry to be scrapped there because the rusting ship is an environmental hazard.The Brazilian Navy's Sao Paulo carrier had been towed by tugs to Europe but did not get past the Gibraltar straits, and was returned across the Atlantic.The Navy has acknowledged the ship is a risk to the environment and could sink, so it has not been allowed into Brazilian…

Brazil's government will not proceed with the privatization of the port of Santos, the largest in Latin America, the incoming minister of ports and airports was quoted as saying on Thursday by a Brazilian newspaper.Marcio Franca, tapped to head the ministry in President-elect Luiz Inacio Lula da Silva's government, told O Estado de S. Paulo's online edition that the decision had been made not to privatize the port, located just southeast of Sao Paulo and a key gateway for exports of agricultural commodities including soybeans and sugar.Franca could not be reached for comment on the decision…

The main access road to Brazil's Paranagua port, the country's second busiest for grain exports, remained blocked by political protesters on Tuesday, according to a statement from the port authority, hobbling shipping from one of the world's top food producers. Blockades in the area were first reported Monday afternoon after similar demonstrations erupted throughout the country as supporters of outgoing Brazilian President Jair Bolsonaro protested against his narrow election loss to leftist Luiz Inacio Lula da Silva.

The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities, rose for a second straight session on Monday on higher capesize rates, while other vessel segments stayed flat.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 28 points, or 1.6%, at 1,788 points.The capesize index gained 86 points, or 4.4%, at 2,041 points, on its best day in six.Average daily earnings for capesizes, which typically transport 150…

Andrea Mather's plans for a long-awaited summer cruise around the Hawaiian islands with her financial analyst husband unraveled after her booking with Norwegian Cruise Line's Pride of America was canceled due to a staffing shortage.It was the second time this year that the 55-year-old homemaker's plan to go on a cruise was scuppered.The cruise industry is sailing in choppy waters yet again as it has to deal with a storm of labor problems, red-hot inflation and recessionary threat…

The dispute between Brazilian port operators and global shipping giants Maersk and MSC is expected to escalate in the coming weeks, according to Brazilian newspaper Valor.Local port terminal operators, through their industry group ABTP, are trying to prevent Maersk and MSC from participating in an auction to operate terminal 10 in Latin America's largest port, Santos port, near Brazil's financial capital, Sao Paulo.Maersk and MSC already operate terminals in Brazil.

A ship financier’s primary security is the mortgaged ship. If the ship becomes a total loss, the mortgage will provide no valuable security, leaving the financier to rely on its rights as assignee and loss payee (and occasionally as co-assured) under the shipowner’s marine insurance policies. However, the owner’s insurers may decline a claim, for example on grounds of breach of warranty or material non-disclosure, or because the loss is not covered by the policy, such as where the owner scuttles the mortgaged ship.

Royal Caribbean Group said on Thursday it was grappling with a drop in bookings and a rise in cancellations as COVID-19 cases surge in the United States, driven by the fast-spreading Omicron variant.U.S. cruise ships have been gradually returning to the seas since late June, but an increase in Omicron cases has sparked calls for a temporary ban on cruising, including from Senator Richard Blumenthal, a Connecticut Democrat.Since the Celebrity Cruises parent resumed operations from U.S.

Carnival Corp on Monday flagged a hit to its near-term bookings from Omicron, even as demand for cruises late next year and beyond suggest a short-lived impact from new coronavirus variants.Shares of Carnival gained 3.3% as the cruise operator said new COVID-19 variants have not had a significant impact on its plan to return its full fleet to operations in the spring of 2022.The fast-spreading COVID-19 Omicron variant has been a cause of concern over the last month, creating some…

Royal Caribbean Group said on Monday 48 people on its Symphony of the Seas cruise ship tested positive for COVID-19, fueling concerns that the new Omicron variant of the coronavirus could put a damper on a recovery in the cruise industry.The cruise operator said it had 6,091 guests and crew members on board the ship, which ended a week-long cruise in Miami on Saturday after setting sail on December 11.The passengers who tested positive were asymptomatic or mildly symptomatic, Royal Caribbean said in a statement, adding that six guests were disembarked earlier in the cruise and transported home

Viasat agreed to buy British rival Inmarsat on Monday in a $7.3 billion deal to broaden the U.S. based company’s satellite and land-based communications services.The takeover of London-based Inmarsat comes just two years after it was taken private in a $3.4 billion deal by a consortium of British-based Apax partners, U.S.-based Warburg Pincus and two Canadian pension funds.While Viasat offers connectivity and communications services to residential, aviation and defense customers in North America…

Thordon Bearings, manufacturer of water-lubricated and grease-free polymer bearing technologies, has appointed Anthony Hamilton as its new Technical Director. Reporting directly to CEO Anna Galoni, Hamilton will lead the Burlington-headquartered company’s engineering, CAD and New Product Development teams.“We are delighted to welcome Tony to the Thordon family as we look to strengthen the company's product portfolio in existing and new markets,” said Galoni. “Tony is a seasoned solutions-based leader having held senior technical positions in the marine…

Investment firm Stonepeak said on Monday it would buy Teekay LNG Partners in a deal worth $6.2 billion, as it looks to take advantage of rising global demand for LNG amid a push towards cleaner sources of energy.Prices of the benchmark U.S. natural gas contract have been on the rise, hitting seven-year highs recently. On Monday, the front-month gas futures contract was up 6.3% at $5.97 per million British thermal units (mmBtu).Stonepeak is offering $17 per unit, which represents a premium of 8.3% to the closing price of Teekay LNG's common units on Oct.

A.P. Moller-Maersk said on Wednesday it had signed a contract securing green methanol as the world's largest shipping firm gears up to operate its first carbon-neutral ship in 2023.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions. Maersk needs to have a carbon-neutral fleet by 2030 to meet its target of net-zero emissions by 2050."Yes, it's one vessel, but it's a prototype for a scalable carbon-neutral solution for shipping…

Britain’s markets regulator has been urged to sanction cruise ship company Carnival and food delivery company Just Eat Takeaway.com for poor disclosures in a complaint seen by Reuters.Both companies have breached their legal obligations by failing to adequately tell investors the risk climate change poses to their businesses, legal NGO ClientEarth said.While the Financial Conduct Authority has yet to sanction a company over its climate disclosures, the latest ClientEarth complaint…