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Shipbuilding Prices Climb to Highest Level in 16 Years
The prices for newbuild vessels have risen to their highest level in 16 years, according to latest figures from shipping association BIMCO.âSince the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2020 they are up 53%. During the same period, the order book has grown by 72%, reaching its highest level since early 2012 and is up 2% year-to-dateâŠ
Panama Canal to Increase Number of Booking Slots
The Panama Canal will increase the total number of vessels authorized to pass through the waterway to 34 per day following rains that have allowed water levels to recover, its authority said late on Monday.The new slots will be effective in July.
Worldâs Largest Car Carrier Receives LR Approval
Classification society Lloydâs Register (LR) reports it has awarded approval in principle (AIP) to the Marine Design & Research Institute of China (MARIC) for a dual-fuel 12,800 CEU capacity pure car and truck carrier (PCTC) design - the worldâs largest car carrier. The ship is part of a new generation of Ultra-Large environmentally friendly roll on-roll off (ro-ro) car carriers with a load capacity of around 12,800 vehicles. The vessel is equipped with an advanced ammonia-fuel power system.
Certification Bodies Approve GTTâs NEXT1 LNG Cargo Containment System
French engineering company for liquefied gas storage GTT has secured approvals from Bureau Veritas and Lloyd's Register for its NEXT1 LNG cargo containment system.Bureau Veritas issued a Design Approval (DA), while Lloyd's Register granted a General Approval for Ship Application (GASA) to GTT.The two approvals, officially granted at the Posidonia 2024 maritime show in Athens, mark a major milestone for the company's NEXT1 technology.Through themâŠ
Mitsubishi Shipbuilding Launches LNG-Powered RoRo Vessel
Mitsubishi Shipbuilding, part of Mitsubishi Heavy Industries (MHI) Group, has held a christening and launch ceremony for the Trans Harmony Green, the first of two LNG-powered roll-on/roll-off (RoRo) ships built for Toyofuji Shipping.The ceremony took place at the Enoura Plant of MHI's Shimonoseki Shipyard & Machinery Works in Yamaguchi Prefecture.The ship's handover is scheduled for late January 2025âŠ
Argentina Maritime Unions to Halt Port Activities for 48 Hours
Maritime labour unions in Argentina announced on Thursday they would cease all activities in ports for 48 hours.The United Maritime Workers Union in a post on Facebook said that the Tugboat Owners Chamber (C.A.R.) has refused to negotiate an expired bargaining agreement, prompting the union to halt work.However, in light of concerns over potential energy supply shortages, the union confirmed that tugboats, which guide vessels supplying thermoelectric power plants and LNG gas tankers, will contin
Mitsubishi Shipbuilding Receives Order for Two LNG Fuel Gas Supply Systems
Mitsubishi Shipbuilding has received an order from Imabari Shipbuilding for two LNG fuel gas supply systems (FGSS) for high-pressure dual-fuel marine engines.The units are for two LNG-fueled bulk carriers to be built by Imabari Shipbuilding which will be continuously delivered with LNG fuel tanks from summer 2025.The FGSSs ordered feature a modular, optimized cargo space layout that provides exceptionalâŠ
Wärtsilä Set to Deliver Emissions-Cutting Tech for CMA CGM Ferries
Technology group Wärtsilä has secured a deal to supply engines, fuel gas supply system and thrusters for two new Ropax ferries being built for French operator La Méridionale, a subsidiary of CMA CGM.The vessels, which have been specifically designed to minimize emissions, are to be built at the China Merchants Jinling Shipyard (Weihai), and will operate between Marseille and Corsica.For each ship, Wärtsilä will supply two 12-cylinderâŠ
Ageing Fleet a Problem for the Crude Oil Tanker Market
The crude oil tanker market is grappling with an ageing fleet of vessels which need to be replaced, posing a challenge as shipyards are focused on building other types of ships, a top executive with commodity trader Trafigura said on Tuesday.The crude tanker market, including VLCC supertankers, has remained strong in recent months partly due to longer voyages made by some vessels sailing via southern Africa amid Red Sea attacks by the Houthis, which has tightened availability.In addition, up to
Methanol Orders Dominate May Orderbook
DNV has released its May figures from the Alternative Fuels Insight (AFI) platform, and according to the latest figures, 33 new orders for alternative fueled vessels were placed in May 2024. Methanol continues to be the biggest driver, accounting for 23 of these vessels. Ten of these are from the container segment, along with five bulk carriers, and four car carriers.LNG continues to lag behind methanolâŠ
ABS 2024 Outlook Highlights Shift in Fleet Composition
According to the latest ABS research, geopolitical instability, scalability of fuel production and retrofits to existing vessels are key factors impacting the shipping industryâs journey to net zero by 2050.The sixth in an annual series, the 2024 Outlook, Beyond the Horizon, Carbon Neutral Fuel Pathways and Transformational Technologies, features an update of ABSâ long-term energy forecast.âThe 2024âŠ
Extreme Asian Heat Spurs LNG Demand Ahead of Summer Months
Extreme temperatures across Asia are driving up liquefied natural gas (LNG) demand in the region as importers seek cargoes ahead of summer, with imports in South Asia hitting records.This could tighten available supply and further lift Asian spot prices that have already gained a third since April, with heatwaves across South and Southeast Asia boosting air-conditioner use and other cooling demand.
NYK Opens LNG Ship Management Company in Hong Kong
In December 2023, NYK jointly established OPearl LNG Ship Management Company, a ship management company to be based in Hong Kong that will manage LNG carriers. An opening ceremony for the office was held on April 18.OPearl was founded together with CMES LNG Shipping Company, a subsidiary of China Merchants Energy Shipping, and CETS Investment Management (HK), a subsidiary of the CNOOC Group, a Chinese energy company.OPearl will manage LNG carriersâŠ
US Regulator Seeks New Emissions Data from Venture Global LNG
U.S. liquefied natural gas (LNG) exporter Venture Global LNG must refile emissions data for its Calcasieu Pass 2 plant construction permits, regulators said on Wednesday.The Alexandria, Virginia-based LNG developer had not included the impact of tanker and support vessel emissions in its recently revised filing, the Federal Energy Regulator Commission (FERC) said.Venture Global LNG has been pushingâŠ
Armada Raises $3.2 Million In Seed Funding
Armada Technologies announced the close of its seed funding round, raising a total of $3.2 million, including contributions from both strategic partners and traditional financial investors to advance eco-friendly maritime solutions.Cool Company Management Ltd. (CoolCo) a strategic partner within the liquefied natural gas (LNG) space, is to part-fund Armada equipment that will be installed on its vessels with this seed round. Ecochlor, Inc.
Brittany Ferries Taps Wärtsilä and Incat to Develop Zero-emissions Ferry
Brittany Ferries announced it is working with Wärtsilä and Incat to explore design and technical requirements for a 137-meter zero-emissions ferry.âThis is an important project as we look at different ways to reach net zero by 2050,â said Christophe Mathieu, CEO of Brittany Ferries. âAll-electric power is a potential solution, best suited to shorter ferry routes. At this stage we donât know what is feasibleâŠ
Corvus Energy to Supply Battery Systems for Panama Canal Tugs
The Panama Canal Authority ordered 10 hybrid tractor tugboats from European shipbuilder, Astilleros Armón, with options for another 10 similar vessels, and Corvus Energy will supply the battery systems for the hybrid-electric vessels.The Panama Canal Authority / Astilleros Armón contract signed in October 2023 was valued at $150 million total for the first 10 vessels, each 30-meter tugboats with 70âŠ
Seaspan's Ammonia-ready Feeder Ship Design Earns LR Approval
A next generation feeder ship design developed by Technolog for Seaspan Corporation has been awarded approval in principle (AIP) from Lloyd's Register (LR), the classification society announced.The innovative vessel, measuring 198 meters long, is designed to be efficiently converted from liquefied natural gas (LNG) to ammonia fuel during its lifetime, trading efficiently in todayâs market and being ready for tomorrowâs.
Developer Seeks Permit to Process US Gas in Mexico
A Mexican energy developer is seeking U.S. permission to export gas to Mexico, turn it into liquefied natural gas (LNG) and send it to countries with U.S. free-trade agreements, its filing with the U.S. Department of Energy showed.Mexico-based Gato Negro Permitium Uno and partners including Houston-based Big River Energy plan to construct four LNG processing plants in Manzanillo on Mexico's Pacific coast to produce up to 4 million tonnes per annum (MTPA) of LNGâŠ
Seatrium Wins Contract for LNG Carrier Repairs and Upgrades
Seatrium has won a Favoured Customer Contract (FCC) with Hyundai LNG Shipping, marking its first long-term strategic partnership agreement with a leading Korean LNG company for the repairs and upgrades of its LNG carriers.The contract includes the refit of a series of LNG carriers over the next two years, with responsibilities in joint planning, information and experience sharing with Hyundai LNG Shipping.TheâŠ
Icebreaking LNG Carrier Vladimir Rusanov on Ice Trials
Maritime Reporter TV Interviews Timo Koponen, Wärtsilä
Digitalization Driving Safety in the Maritime Sector
Video: LNG Carrier Transits the Northern Sea Route
Designer seeks permit to send out United States gas to Mexico for LNG exports
Crowley Christens LNG-Powered ConRo
Pasha Hawaii Brings LNG Containerships Online
Inside Crowley's Commitment Class ConRo Ships
Maritime Reporter TV Interviews Leif Gross, Caterpillar
Enhancing Gas Carrier Reporting and Reducing Crew Burden with ABS Wavesight Nautical Systemsâą Voyage Manager
