Strategic News

Wallenius Wilhelmsen has signed a 20-year lease agreement with the Georgia Ports Authority (GPA), with options up to 30 years for Brunswick port expansion, increasing its strategic terminal and processing networkUpgraded and enlarged Brunswick facilities will further expand the scope and scale of U.S. Southeast operations of Wallenius Wilhelmsen, which is the world's largest RoRo vessel operator.The Brunswick expansion will further cement the company’s position as the favored partner for North American customers…

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…

Russia remained China's top oil supplier in March, data showed on Saturday, as refiners snapped up stranded Sokol shipments.China's imports from Russia, including supplies via pipelines and sea-borne shipments, jumped 12.5% on the year to 10.81 million metric tons, or 2.55 million barrels per day (bpd) last month, according to data from the General Administration of Customs.That was quite close to the previous monthly record of 2.56 million bpd in June 2023.Seven Russian tankers under sanctions offloaded Sokol cargoes in Chinese ports in March…

Tanker shipping company Stena Bulk on Thursday announced the sale of the liquefied natural gas (LNG) carrier vessel Stena Blue Sky to an undisclosed Asian buyer.The sale of Stena Blue Sky follows the recent announcement that Stena Bulk had sold two LNG carriers to BW LNG.The successful transfer of Stena Blue Sky has already taken place. The vessel was delivered on April 18 in Singapore.Originally built in 2006 by Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea, Stena Blue Sky has a carrying capacity 145…

Taiwan's homegrown submarine programme will remain on track, the defence minister said on Wednesday, after the head of the programme resigned due to what he said were unfair attacks against him and the military.Taiwan, which China views as its own territory, has made the submarine programme a key part of an ambitious project to modernise its armed forces as Beijing stages almost daily military exercises to assert sovereignty claims Taipei rejects.Taiwan unveiled the first of eight new submarines in late September, though it won't enter service until next year.

Saudi Arabia’s Ras Al-Khair Special Economic Zone (SEZ) said it is seeking local and foreign investors to help boost the Kingdom’s maritime infrastructure.With an initial area of 20 square kilometers, Ras Al-Khair SEZ, operated by the Royal Commission for Jubail and Yanbu, is an expanding zone with two focus areas, The King Salman International Complex for Maritime Industries and Services, and the Offshore Cluster supply chain. The SEZ is located next to Ras Al-Khair Port, the Kingdom’s newest industrial port.Ahmed M.

The Maritime Risk Symposium is an annual three-day conference in which government and maritime industry leaders, port representatives, researchers, and solution providers convene to examine current and emerging threats to maritime security. MRS2024 is scheduled to take place June 11-13 2024 at Naval Postgraduate School (NPS) in Monterey, CA.A look @ Panel 5: Facilitator: Eric “Coop” Cooper, CAPT, USCG (retired)This panel will inform participants and generate discussion to improve understanding of the risk of gray zone activities pose to the economy…

Daphne Technology has been selected by Trafigura for its first commercial deployment of PureMetrics™ emissions measuring system, scheduled for the summer of 2024.The system will be deployed aboard an LNG carrier chartered by Trafigura and managed by Latsco LNG LLC.PureMetrics directly measures and accurately reports real-time tonnes of GHG emissions to the environment, eliminating inaccurate reporting based on fuel consumption estimates. The system features a combination of an array of sensors…

For 15 years the Maritime Risk Symposium (MRS), an annual three-day event, has brought together government and maritime industry leaders, port representatives, international and domestic researchers and solution providers to examine current and emerging threats to maritime security. World events highlight that maritime security is increasingly at risk during the current period of great-power competition and ongoing conflicts. The active competition between nations who are not…

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…

The Coastal Sustainability Alliance (CSA), an industry collaborative effort led by Kuok Maritime Group (KMG), has announced the start of construction of its first fully electric PXO-series tug (e-tug) and supply boat (e-supply boat) by PaxOcean Group.The zero-emissions vessels are among the first and largest local electric harbour craft designed for operation in Singapore’s coastal waters. They are targeted for deployment in 2025, ahead of the nation’s goal for all new coastal…

Here’s some good news for America’s sea power. While the U.S. Navy has initiated another review of its 30-year shipbuilding plan in the face of widespread dissatisfaction, one element within that plan has been praised: the decision to provide funding for continued construction of amphibious warfare ships. These vessels offer unmatched flexibility and the capability of transporting, deploying, and supporting ground combat forces – typically U.S. Marine Corps – to conduct amphibious assaults, humanitarian operations, or disaster relief missions.

Rapid technological change, complex regulation and competitive pressures are driving digital transformation in the shipping industry. But navigating a confusing software landscape can be difficult, and sound decision-making is essential to minimize innovation risk, according to OrbitMI.Industry spending has soared in recent years on intelligent process automation solutions geared to boosting efficiency, reducing costs, curbing emissions and improving safety for shipping companies…

Austal USA earlier this month celebrated the start of construction on the first of three LCU 1710 Landing Craft Utility vessels for the U.S. Navy at the company’s Mobile, Ala. shipyard.Austal USA, a subsidiary if the Australian shipbuilding group Austal, was awarded a US$91.5 million (A$143.4 million) contract in September 2023 that includes three LCU 1710 vessels and associated support efforts.Austal CEO Paddy Gregg said the start of construction on Austal USA’s latest steel…

Fincantieri has received a highly significant order from Norwegian Cruise Line Holdings for the construction of four new next-generation cruise ships.The order entails the construction of two cruise ships for the Regent Seven Seas Cruises and two for the Oceania Cruises brands respectively.The ships designated for Regent Seven Seas Cruises, scheduled for delivery in 2026 and 2029, will boast a gross tonnage of 77,000 tons and accommodate approximately 850 passengers.Meanwhile…

Wallenius Wilhelmsen, the world’s largest RoRo vessel operator, has signed a multi-year contract with a leading global player in the premium car segment, valued at more than $1 billion.Spanning three years, the contract covers both shipping and logistics services, as well as the use of biofuel.The contract started between January and April 2024 with rates in line with current market levels, and also entails a mutual two-year extension option. “We see manufacturers shifting priorities and increasingly looking for solutions which provide predictability in their supply chains.

Australian shipbuilder Austal said on Tuesday it had rejected an A$1.02 billion ($662 million) takeover offer from South Korea's Hanwha Ocean as it was unlikely to be approved by Australian and U.S. regulators due to the sensitivity of its operations.The Western Australia-based firm said it had received a bid at A$2.825 per share, representing a premium of 28.4% to Austal's last closing price.Austal's shares rose 8.2% in early trade, while the Australian S&P/ASX200 index was flat.The…

Energy storage group VTTI will get a 70% stake in Italy's biggest liquefied natural gas (LNG) terminal, with grid operator Snam owning the rest, the Milan-listed group said on Wednesday, announcing a deal to be finalised by year-end.Snam, which is controlled by the Italian government, said in a statement it had exercised its pre-emption right to increase its stake in the infrastructure dubbed Adriatic LNG to 30% from 7.3%.The move comes after ExxonMobil and QatarEnergy last week agreed to sell their stakes in the terminal to a consortium led by Dutch group VTTI.

Ørsted and Cadeler have signed a firm long-term lease agreement for a newbuilt wind farm installation vessel, designed to transport up to six XXL monopile foundations and five turbines of over 20 MW per round trip.With the agreement, Ørsted has secured installation vessel capacity from the start of 2027 to end of 2030 for upcoming construction projects.The agreement involves booking a new-built A-Class vessel from Cadeler. The A-Class vessels feature a hybrid design, allowing…

Brazil-based WEG Coatings and Canadian-based GIT Coatings have entered an agreement to strengthen each other’s marine coating product offerings across international markets.The partnership aims to accelerate market adoption of green solutions in the marine market such as GIT’s graphene-based coatings. Both companies will leverage each other’s strengths and expertise to enhance product offerings and provide tailored solutions to their customers. GIT Coatings CEO, Mo AlGermozi, said…

Americraft Marine, one of the maritime subsidiaries of Libra Group that owns and operates a Jones Act shipbuilding facility in Palatka, Fla., has announced the appointment of Peter Fetten as Chairman of Americraft.A seasoned leader with four decades in the marine engineering and shipbuilding sectors, Fetten will help shape the strategic direction of Americraft Marine as it works to advance U.S. shipbuilding and the demand for Jones Act vessels. Americraft Marine's St. Johns Ship Building…

With supply chain attacks on the rise, and nation-state attackers constantly looking for new ways to disrupt national security and economic stability, one of the most vulnerable areas is the security around our maritime operations. The Biden-Harris Administration's recent Executive Order to fortify the cybersecurity of U.S. ports underscores this concern, spotlighting the urgency of addressing vulnerabilities in a sector that drives over $5.4 trillion in economic activity annually.

Manta Marine Technologies (formerly known as Yara Marine Technologies) has completed installation and commissioning of onboard shore power systems for three Finnlines vessels: the Finnlady, the Finnmaid and the Finnstar.The installations, onboard RINA-classed Finnlines RoPax vessels Finnstar, Finnmaid and Finnlady support Finnlines’ commitment to decarbonize itsfleet and reduce the environmental impact on shore-side communities.Thomas Doepel, Finnlines Deputy CEO Finnlines, said…