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The Power of Now: Sailing Toward Shipping’s Climate Goals
![bound4blue's unique suction sails (Photo: bound4blue)](https://images.marinelink.com/images/maritime/w200h200c/bound4blues-unique-suction-sails-photo-149817.jpg)
When Bertrand Charrier worked with Jacques Cousteau four decades ago on the development of a revolutionary sail for the maritime industry, the time for widescale adoption of wind power wasn’t right. Now, he argues, there’s simply no time to waste.“Sometimes the best discoveries are rediscoveries.”Bertrand Charrier is a champion of simplicity. Sitting in a comfortable chair overlooking the rolling fields of rural France…
Ship Recycling Activity Climbs in Week 18
![Source: GMS](https://images.marinelink.com/images/maritime/w200h200c/source-gms-149801.jpg)
Activity across the Indian sub-continent ship recycling markets has been climbing on the back of recently witnessed agitations in the trading lanes, reports cash buyer GMS.“A growing number of Ship Owners are biting the recycling bullet and selling their overaged but still trading vessels. Containers have been the first segment to be squeezed out by this recent dip in freight rates as several units were (and continue to be) introduced for a recycling sale…
Big Oil Finds More to Love in Deepwater Exploration Fields
![© Arild / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/arild-adobe-stock-149794.jpeg)
As Big Oil returns this week to the industry's annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana, Namibia and the U.S. Gulf Coast will take the spotlight.Offshore exploration had dimmed after the U.S. shale boom ushered in new and cheaper-to-tap supplies of oil, and as past offshore cost overruns pushed deepwater projects onto the industry's backburner.Newer…
Maritime Trafficking: How Balkan Gangsters Became Europe's Top Cocaine Suppliers
![© Roger / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/roger-adobe-stock-149742.jpeg)
In 2018, convicted cocaine trafficker Slobodan Kostovski fled a Brazilian prison and made his way back to Europe with a fake passport.The Serbian senior quickly fell into old habits, police allege. Last August, Kostovski was arrested in Belgrade, accused of shipping 2.7 metric tonnes of cocaine from Brazil aboard a 22-meter vessel apprehended near Spain’s Canary Islands.Nicknamed “the General” by his associates…
Shipbuilder HII Beats Q1 Estimates
![(Photo: Ashley Cowan / HII)](https://images.marinelink.com/images/maritime/w200h200c/photo-ashley-cowan-hii-149741.jpg)
Huntington Ingalls Industries (HII) reported a better-than-expected quarterly earnings on Thursday, on the back of demand for aircraft carriers, amphibious assault ships and submarines amid high geopolitical tension.Demand for submarines and aircraft carriers is surging, fueled by China's expanding naval footprint and high global tensions, benefiting shipbuilding giants such as Huntington Ingalls.Huntington is the only major pure-play defense company that has outperformed S&P 500 index…
Norwegian's Q1 Revenue Miss Overshadows Raised Outlook
![© Wangkun Jia / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/wangkun-jia-adobe-stock-149716.jpeg)
Shares of Norwegian Cruise Line Holdings fell more than 12% after the operator's downbeat first-quarter revenue overshadowed a raise in annual profit forecast on Wednesday.Expectations for cruise operators have generally become high after strong booking trends and demand drove up their results and shares last year.Shares of Norwegian and its rival Carnival have seen their growth temper from those highs…
Cruise Operator Viking Makes Strong NYSE Debut
![© NAN / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/nan-adobe-stock-149715.jpeg)
Shares of Viking Holdings rose 9% in their debut on the New York Stock Exchange on Wednesday, giving the travel and cruising company a valuation of $11 billion.Viking opened at $26.15 compared with its initial public offering (IPO) price of $24 in a stellar debut, amid a rebound in stock market listings and at a time when cruise stocks have delivered outsized returns.Founded in 1997, Viking provides destination-focused itineraries including a shore excursion at every port and an onboard and onsh
Panama Canal Snarls Blamed on El Nino, Water Management Issues
![© Cerib / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/cerib-adobe-stock-149707.jpeg)
The El Nino climate phenomenon, not climate change, drove lower rainfall last year that reduced the Panama Canal's water levels and contributed to shipping restrictions that disrupted global trade, a study released on Wednesday found.Prioritizing water for human consumption rather than for the canal also played a role in shipping restrictions, according to the study by research consortium World Weather Attribution.Panama experienced its third-driest year on record in 2023…
Port Constraints for Canada's Trans Mountain Pipeline May Crimp Oil Exports
![© maxdigi / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/maxdigi-adobe-stock-149697.jpeg)
Logistical constraints at the Port of Vancouver mean waterborne oil exports from the highly anticipated Trans Mountain pipeline expansion due to start up on Wednesday may only be around half what the Canadian government-owned corporation has forecast, traders and shipping sources said.The C$34 billion ($24.82 billion) project to nearly triple the flow of crude from Alberta to Canada's Pacific Coast to 890…
Dennis Tetzlaff Appointed COO Fleet at Stena Line
![Dennis Tetzlaff courtesy of Stena Line.](https://images.marinelink.com/images/maritime/w200h200c/dennis-tetzlaff-courtesy-of-stena-149696.jpg)
Dennis Tetzlaff has been appointed Stena Line’s new Chief Operating Officer Fleet.Tetzlaff enters his new role with a wealth of experience, having worked in various professions within the shipping and cruise industry over the past two decades. Most recently, he comes from TUI Cruises, where he served as the Vice President Fleet Operations & Newbuild.Tetzlaff has a degree in nautical science and maritime transport from the University of Applied Sciences in Emden/Leer…
IMO Finalizes Guidelines on Fair Treatment of Seafarers
![Source: IMO](https://images.marinelink.com/images/maritime/w200h200c/source-imo-149656.jpg)
The IMO's Legal Committee met in person for its 111th session at IMO Headquarters in London from April 22 to 26 April 2024, and finalized guidelines on the fair treatment of seafarers detained on suspicion of committing crimes.These are to be applied where seafarers may be detained in a jurisdiction other than that of the seafarers' nationality on suspicion of committing crimes during the course of…
FBI Says Chinese Hackers Preparing to Attack US Infrastructure
![© WhataWin / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/whatawin-adobe-stock-149639.jpeg)
Chinese government-linked hackers have burrowed into U.S. critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI Director Christopher Wray said earlier this month.An ongoing Chinese hacking campaign known as Volt Typhoon has successfully gained access to numerous American companies in telecommunications, energy, water and other critical sectors, with 23 pipeline operators targeted…
Sudden Influx of Tonnage to Ship Recyclers
![Source: GMS](https://images.marinelink.com/images/maritime/w200h200c/source-gms-149620.jpg)
On the back of freight markets that are finally facing their first set of 2024 jitters, the industry is gradually witnessing an increasing number of units being proposed for a recycling sale, all of which are being confirmed via the sudden influx of tonnage at the Indian and Bangladeshi waterfronts this week, reports cash buyer GMS.This coms just as the Pakistani market (as expected) starts to fall behind on its domestic arrivals.
Russia Reinsurer Backs Firms to get India Marine Insurance Permit
![By Maksym Yemelyanov](https://images.marinelink.com/images/maritime/w200h200c/by-maksym-yemelyanov-149570.jpg)
Russia's state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to facilitate trade with India amid Western sanctions.A raft of sanctions by the U.S. and allies against Moscow over its Ukraine invasion, along with tighter scrutiny of Russian oil trade, has…
US Offshore Wind: Outlook Strong Despite Construction Productivity Issues
![(Photo: Worldview Films, courtesy Vineyard Offshore)](https://images.marinelink.com/images/maritime/w200h200c/hoto-worldview-films-courtesy-vineyard-149564.jpeg)
While construction productivity issues continue to present immediate challenges for the U.S. offshore wind industry, the long-term outlook remains strong for the nascent sector, according to a recent report from business intelligence and consulting firm Intelatus Global Partners. Intelatus' most recent monthly report on the U.S. offshore wind industry identifies a number of factors hindering offshore…
Seeing the Ship as a System Changes Everything
![Image Courtesy ABB Marine and Ports](https://images.marinelink.com/images/maritime/w200h200c/image-courtesy-abb-marine-and-149563.jpg)
Shipping must engage with the decarbonization realities that lie ahead by changing the way it crafts maritime legislation to reflect its place in the interconnected, interdependent world economy, says Eero Lehtovaara, Head of Regulatory & Public Affairs, ABB Marine & Ports.ABB Marine & Ports Head of Regulatory & Public Affairs, Eero Lehtovaara has carved out an unusual - and possibly unique - role in the maritime industry over recent years…
Rear Adm. Philip Sobeck: MSC Needs More Mariners, New Ships
![Rear Adm. Philip Sobeck (right) Commander of U.S. Military Sealift Command (MSC) explains the tradition of the Navy ‘looping ceremony’. Lt. Robert P. Ellison assumes the title of MSC's Flag Aide during the ceremony. The looping ceremony took place aboard USS Dwight D. Eisenhower (CVN 69) during MSC’s change of command ceremony held aboard the ship on Sept. 8, 2023. (U.S. Navy photograph by Brian Suriani/Released)](https://images.marinelink.com/images/maritime/w200h200c/rear-adm-philip-sobeck-right-149551.jpg)
Founded as the Military Sea Transportation Service (MSTS) and renamed Military Sealift Command in 1970, MSC today not only support the Navy, but we are the Department of Defense's provider of all sealift. Maritime Reporter & Engineering News recently interviewed Rear Adm. Philip Sobeck, U.S. Navy, for insights on the service today and it’s needs to grow in the future.What makes MSC so vital to the…
US Plans 12 Offshore Wind Auctions Over Five Years
![© Alexisaj / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/alexisaj-adobe-stock-149524.jpeg)
President Joe Biden's administration unveiled plans on Wednesday to hold up to a dozen auctions of offshore wind development rights through 2028, including four before the end of this year.The schedule will help companies, states and others plan for projects that require massive amounts of investment and infrastructure, the Interior Department said in a statement."Our offshore wind leasing schedule…
Subsea Vessel Market is Full Steam Ahead
![Rig move of Equinor oil platform Njord Alpha with AHTS vessels Magne Viking and Normand Prosper towing the platform.](https://images.marinelink.com/images/maritime/w200h200c/rig-move-of-equinor-oil-149494.jpg)
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…
At Least Five People Drown Trying to Cross English Channel
![© pichitstocker / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/pichitstocker-adobe-stock-149481.jpeg)
At least five people, including a child, died in an attempt to cross the English Channel from France, hours after Britain passed a bill to deport asylum seekers to Rwanda to try to deter the dangerous crossings.The deaths of one child, a woman and three men occurred on an overcrowded small boat carrying around 110 people attempting to cross one of the busiest shipping lanes in the world. The French coastguard was still searching for survivors."After becoming initially stranded on the shore…