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Thursday, March 28, 2024
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Transportation Services News

28 Feb 2024

Swedbank Adopts Poseidon Principles

Source: Swedbank

Swedbank has signed the Poseidon Principles, a global framework for integrating climate considerations into lending decisions within ship financeThe Poseidon Principles provide a standardised methodology for data collection and reporting of emissions from banks’ shipping portfolios, with the overall ambition of supporting and facilitating the decarbonization of the shipping industry.The Poseidon Principles are consistent with the policies and ambitions of the IMO, including its…

19 Feb 2024

NYK and Stolt Tankers to Build Six Multi-Purpose Chemical Tankers

© EdVal / Adobe Stock

NYK Stolt Tankers, a joint venture between NYK and Dutch company Stolt Tankers, has signed a contract with Nantong Xiangyu Shipyard in China to build six parcel chemical tankers.The contract will strengthen NYK’s chemical tanker business, for which demand is expected to grow steadily, and deepen the partnership with Stolt Tankers, a leading player in the industry, the company said.Parel tankers are multi-purpose chemical tankers can carry various cargo, including chemical products…

07 Feb 2024

NYK Stolt Tankers Orders Six Chemical Tankers

(Photo: Stolt Tankers)

NYK Stolt Tankers, a joint venture between NYK Line and Stolt Tankers, has placed an order with Nantong Xiangyu Shipyard in China to build six 38,000 deadweight tonne stainless steel chemical tankers for delivery between late 2026 and 2029.The newbuilds will be sisters to a series of six vessels Stolt Tankers ordered at Wuhu Shipyard in November. The ships feature 30 cargo tanks, offering a range of cargo flexibility and are designed to maximize fuel efficiency using a wide range of energy savings devices and shore power connection, Stolt Tankers said.

01 Feb 2024

NYK and Stolt Tankers Commemorate 30th Anniversary

From left, Yuji Nishijima, Executive Officer, NYK; Bjarke Nissen, Managing Director, Stolt Tankers; Masahito Hirano, Director, ENEOS Ocean Corporation (Source: NYK)

On January 17, the NYK Group and Stolt Tankers held a ceremony in Singapore to commemorate the 30th anniversary of the start of the companies’ parcel chemical tanker joint venture in Asia and the Pacific.A parcel tanker is a multipurpose chemical tanker capable of carrying many types of cargo, including chemical products, kinetic vegetable oil, etc.The ceremony was attended by Yuji Nishijima, executive officer of NYK; Bjarke Nissen, managing director of Stolt Tankers; and Masahito Hirano…

21 Dec 2023

Zinus Charging Solution Ordered for Zero-emissions RoPax Ferry

(Photo: Ziuns)

Zinus announced it has won a contract to supply its autonomous charging solution for a new zero-emissions, lightweight Ro-Pax ferry.The endeavor is led by shipbuilder Incat Tasmania, and commissioned by their South American customer Buquebús. The ferry will operate between Argentina and Uruguay, providing efficient and eco-friendly transportation services to as many as 2,100 passengers and 225 vehicles.Zinus will be supplying its autonomous charging solution, which includes the SWC200 Onboard Unit and ZPP800 charging tower solution.

07 Dec 2023

Hornbeck Offshore Discloses Revenue Growth in Its IPO Paperwork

(File photo: Hornbeck Offshore)

Marine transportation services provider Hornbeck Offshore on Thursday made public its paperwork for a stock market listing in New York, which showed its revenue rose in the three months ended September.The listing will test the appetite for another stock flotation at a time when green shoots in the U.S. IPO market have been overshadowed by the poor post-debut performances of some high-profile firms that listed recently.Hornbeck intends to list its shares on the New York Stock…

17 Nov 2023

NYK Group, Stolt Tankers, and ENEOS Ocean Unveil Chemical Ship Pool Business

Credit: Stolt Tankers (File image)

The NYK Group, Stolt Tankers, and ENEOS Ocean launched a chemical ship pool business in the Asia-Pacific region in October.Shipowners and operators pool their vessels and undertake transportation services at the request of shippers. The pool business allows more flexible transportation services that utilize economies of scale, NYK said.The project started with 13 vessels, comprising two chemical tankers owned by ENEOS Ocean and 11 chemical tankers owned by a joint venture between…

17 Oct 2023

Neu Seeschiffahrt to Implement Yara Marine’s FuelOpt

(Photo: Yara Marine Technologies)

German shipping company Neu Seeschiffahrt has inked a deal to install Yara Marine Technologies' (YMT) propulsion optimization technology across its fleet of six very large ore carriers (VLOC) and two recently acquired Newcastlemax vessels in 2024.YMT's FuelOpt system reduces fuel consumption and associated emissions by automatically adapting the vessel’s propulsive power to real-time environmental conditions. YMT says the system is available for newbuilds or retrofit, and is compatible with any type of propeller or engine as well as all existing and future fuels.

21 Jun 2023

Military Sealift Command Awards Time Charter to Overseas Mykonos

Florida-based Overseas Shipholding Group, Inc. (OSG) has announced that the Military Sealift Command has awarded the Overseas Mykonos a time charter contract to provide ongoing fuel transportation services.The Overseas Mykonos will be delivered to the Military Sealift Command at Pearl Harbor in August. The time charter awarded is for a one-year base period with the option to extend the contract out to a maximum period of five and a half years.The vessel, built in 2010, is a medium range product tanker with 12 cargo tanks and a cargo capacity of 333,000 barrels. The ship has the ability to perform consolidated cargo replenishment at sea operations, providing flexibility and options for refueling the U.S. military fleet while underway.

18 May 2023

NY Waterway to Restore Port Liberte Ferry Service

(Photo: City of Jersey City)

NY Waterway has been selected to provide ferry services five days a week on Jersey City’s southernmost coast in Greenville, N.J.Mayor Steven M. Fulop, Councilwoman Denise Ridley and the Department of Infrastructure announced a resolution awarding the contract for services out of the Port Liberte Ferry Terminal, which the City of Jersey City recently acquired.Additionally, utilizing $4 million in State grant funding, ferry fares to and from the Port Liberte terminal will be discounted…

03 May 2023

MARAD Awards $20.8 Million in Grants to Small Shipyards

(Photo: All American Marine)

The U.S. Department of Transportation’s Maritime Administration (MARAD) on Wednesday announced $20.8 million in grant awards to 27 small shipyards in 20 states through the Small Shipyard Grant Program. The funds will help shipyards modernize, increase productivity, and expand local job opportunities while competing in the global marketplace.“Small shipyards strengthen America’s commercial fleet, bolster our economic security, and generate good jobs,” said U.S. Transportation Secretary Pete Buttigieg. “We are proud to support these shipyards reinforce their vital role in the U.S.

18 Apr 2023

CMA CGM Offers $5.5 Billion for Bollore Logistics Unit

© dbvirago / Adobe Stock

French shipping group CMA CGM is offering 5 billion euros ($5.48 billion) for the logistics unit of Bollore, the family-run conglomerate said on Tuesday.For Bollore a deal would mean cutting ties with its biggest business while offering cash-rich CMA CGM a chance to bolster its bid to offer end-to-end transportation services and supply chain management.The business posted more than 7 billion euros in revenue last year and has 15,000 employees.News of the indicative offer, made on a cash free and debt-free basis, boosted Bollore's shares.Bollore disclosed it following a report in shipping publi

30 Mar 2023

Florida Marine Transporters Refinances with TCW

File photo: Metal Shark)

Florida Marine Transporters LLC Holdings has completed a refinancing with  a unit of TCW Asset Management Company LLC.Investment bank Carl Marks Advisors announced it facilitated the transaction.FMT, headquartered in Mandeville, La., is one of America’s largest independent, family-owned, Jones-Act-compliant marine transportation companies, providing liquid petrochemical, chemical cargo, and dry cargo transportation services in the inland waterways of the United States, primarily the Gulf intercoastal Waterway and Mississippi River System.

06 Oct 2022

FPS Maas: Tip of the Spear in a Fleet of Zero-emission Inland Vessels

Image courtesy EST-Floattech

EST-Floattech is a part of the FPS Maas retrofit project from Future Proof Shipping and Holland Shipyards Group, both of which are working on sustainable projects, where HSG builds or retrofits the ships, and FPS, as the zero-emissions shipowner, offers sustainable marine transportation services.With the ‘FPS Maas’, FPS is en route to build and operate a fleet of 10 zero-emission inland and short-sea vessels. For HSG the refit of the ‘Maas’ is part of its ambition to work on a greener and more sustainable shipping industry.

27 Sep 2022

Op-ed: Jones Act Waivers Do Little as Disaster Relief

© TawanSaklay / Adobe Stock

Like swallows arriving in the spring, a chorus for Jones Act waivers can reliably be anticipated to accompany the annual parade of hurricanes across the geographical region covered by the Act. The logic: emergency situations dictate maximum emergency relief, and the Jones Act is perceived to be an obstacle to providing that relief. That perception is wrong.A review of hurricane induced disaster situations over recent years reveals that maritime supply chains into affected ports are rarely a problem.

10 Aug 2022

Maritime Partners Agrees to Acquire MG Transport

© dvande / Adobe Stock

Maritime Partners, LLC, through its managed funds, has agreed to acquire M/G Transport Holdings LLC, from Auxo Investment Partners LLC and its affiliates. Terms of the transaction were not disclosed, and completion of the acquisition is expected in the third quarter of 2022 subject to customary closing conditions, including receipt of regulatory approvals.Founded in 1968, M/G is a provider of marine transportation services along the West Canal and Lower Mississippi River. Through its fleet of approximately 300 dry cargo barges…

05 Aug 2022

US Announces $172 Million to Improve Ferry Service

© Andriy Blokhin / Adobe Stock

The Biden-Harris Administration on Friday announced new funding aimed at improving ferry service across the U.S. The U.S. Department of Transportation’s Federal Highway Administration announced $172.2 million in Fiscal Year 2022 formula funding under the Bipartisan Infrastructure Law improve ferry service and provide more travel options in 35 states and three territories.“Many Americans rely on ferry service as a primary means of travel, making it a critical connection to jobs, healthcare and other daily needs,” said U.S. Transportation Secretary Pete Buttigieg.

03 Jun 2022

MARAD Designates Four New Marine Highway Projects

© Betty Sederquist / Adobe Stock

The U.S. Department of Transportation’s Maritime Administration (MARAD) today announced the immediate designation of four new Marine Highway Projects as part of the America’s Marine Highway Program (AMHP). Projects in North Carolina, Alaska, and Puerto Rico will receive these designations. They can now apply for record levels of funding through the Bipartisan Infrastructure Law to help address supply chain challenges.A Marine Highway Project is a planned service, or expansion of an existing service, on a designated Marine Highway Route.

06 May 2022

EDF Charters Fourth LNG Carrier from NYK

For illustration only - Credit: NYK (file photo)

NYK-affiliated company France LNG Shipping has secured a long-term charter contract for a new liquefied natural gas (LNG) carrier with EDF LNG Shipping SAS. The newly built LNG carrier is scheduled for delivery in 2025 from Hyundai Samho Heavy Industries Co. Ltd. This is the fourth NYK vessel on a long-term time-charter contract with the EDF Group.The newly built LNG carrier will be propelled by a WinGD-built, dual-fuel slow-speed diesel engine. The carrier will also feature an Air Liquide–manufactured*** Turbo-Brayton refrigeration system that can tap surplus boil-off gas.

05 May 2022

Hornblower Gets Grant for Green Hydrogen Fueling Station

© Andreas Prott / Adobe Stock

Hornblower Group on Thursday announced its subsidiary Hornblower Energy has received an $8 million grant from the U.S. Department of Energy (DOE) to design, construct and operate the first asset of its kind to produce green hydrogen through the use of hydroelectric power and dispense to ferry and maritime vessels in the United States. The first in the world of its kind, the three-year project officially began in 2021 in San Francisco with a projected completion date of 2025. Fueling…

22 Apr 2022

Bridgeport Boatworks, Hornblower Award Maritime Scholarships

(Photo: Hornblower Marine)

Bridgeport Boatworks and Hornblower Marine have launched six scholarships supporting students at Porter & Chester Institute’s Bridgeport campus. The scholarships, totaling $15,000.00 and valued at $2,500.00 per student, will be dedicated to local Bridgeport residents, and will continue to establish the Bridgeport waterfront as a maritime industry leader and job center.The announcement was made at the launch of Porter & Chester Institute’s Bridgeport campus welding program.In April 2021…

04 Apr 2022

ABS to Class Wind Turbine Installation Vessel, Feeder Barges Being Built for Empire Wind Project

Credit: ABS

The American Bureau of Shipping said Monday that the recently ordered wind turbine Installation vessel Sembcorp Marine is building for Maersk Supply Service would be built to ABS Class.Maersk Supply Service's vessel will be capable of handling the latest generation 15MW turbines, and will be deployed for Equinor and BP’s Empire Wind project offshore the U.S.Two new feeder barges and two diesel-electric hybrid tugboat units, which will also support Empire Wind, will also be built to ABS Class by Kirby Offshore Wind (KOW)…

02 May 2022

Suggestions for Making America’s Marine Highway Program More Effective

© Ed Metz / Adobe Stock

The America’s Marine Highways Program is one of several grant programs administered by the U.S. Maritime Administration (MARAD) to promote more effective use of the nation’s navigable waterways. This particular program was established by Congress in 2007 to provide grants for projects that would promote water-borne alternatives to available landside transportation services, especially for freight carried by trucks.Consistent with this specific goal, the program’s statutory authority…