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Gulf Oil Marine and Azurtane Partner
Now that the fuel sulphur regulations have come into force from January 1, 2020, charterers and operators will begin to feel the pressure to reduce greenhouse gas (GHG) emissions.Gulf Oil Marine has partnered with marine technology firm Azurtane to help customers monitor and manage energy usage and emissions compliance.The change in fuels resulting from the 2020 0.5% sulphur regulations has meant a…
Xeneta Sees Storm Clouds Gathering for 2023
After over two years of rising rates and overstretched capacity, the rapidly cooling ocean freight market looks set for an “extremely challenging” 2023, according to Oslo-based Xeneta. An in-depth analysis of the latest real-time ocean and air freight rates, combined with expert trend forecasts, suggests that ocean cargo volumes could fall by up to 2.5%, rates will drop “significantly” and weak demand will force increased idling of vessels.
Tech File: A Robotic Reach in Offshore Wind
With a background in subsea and offshore, coming up with new ideas is the norm’ for UK-based engineering consultancy STL (Submarine Technology Limited), writes Elaine Maslin.The last few years have been no different. The company has been focusing on ship-based robotics, including robotic arms. These aren’t just any robotic arms – they’re motion compensated systems for deploying/recovering people and robots to and from fixed or moving objects.
Recyclers Wary Despite Recent Influx of Tonnage
Losses in various individual sectors along the entire dry bulk range across the recent past saw the overall benchmark index lose about 5% of its overall value, which would explain the recent (and ongoing) influx of tonnage into the West Coast Indian and even Pakistani waterfronts spanning several weeks now, reports cash buyer GMS.“And despite recent deliveries of a wide collection of sizes and types of vessels (especially in Alang)…
Sanmar to Build Five Tugs for LNG Canada Project
Turkish shipbuilder Sanmar Shipyards announced it has inked a deal with HaiSea Marine for the build and delivery of three liquefied natural gas (LNG)-fueled escort tugs and two battery-electric harbor tugs which will provide ship-assist and escort towing services to LNG carriers calling at LNG Canada’s new export facility in Kitimat, B.C., on Canada's west coast.Following an initial tender process which began in 2018…
How Event-driven Technologies Can Transform the Shipping Industry
The Suez Canal blockage laid bare many of the challenges being faced by the global shipping industry today. With 12% of global trade passing through the canal each day, the total revenue lost from delayed, damaged or lost goods due to its blockage is estimated to be up to $10 billion. Many of the organizations that faced a logistical nightmare in the face of the Ever Given blockage struggled to respond…
Harland & Wolff Wins Contracts for Dry Docking of Two Cruise Vessels
Harland & Wolff Group has been awarded a dry dock contract for two cruise ships from P&O Cruises and Cunard respectively that will occupy the Belfast drydock for 33 days in total. The companies have selected Harland & Wolff's 81-acre Belfast shipyard to undertake drydocking works on two of its ships - Aurora and Queen Victoria. The works due to be undertaken on both ships are standard drydocking operations.The…
LNG Traders Absorb Huge Losses After Supply Outages
Major energy traders are taking hundreds of millions of dollars in losses as they scramble to plug a liquefied natural gas (LNG) supply gap after several outages…
Northrop Grumman Delivers Another Sealift Ship
USNS Brittin (T-AKR 305), the sixth of seven Bob Hope-class strategic sealift ships being built by Northrop Grumman Corporation's Ship Systems sector, was delivered to the U.S.
DP World Moving Forward with $1.3 Billion UK Port Investment
Port and logistics firm DP World is going ahead with a 1 billion pound ($1.3 billion) investment in its London Gateway port, Britain's government said on Sunday after reports last week that the company had paused the project in protest.In what had been an embarrassment for the government before a major investor conference, Sky News reported on Friday that DP World had put the planned investment on…
Xeneta: Intra-Asian Spot Rates Contribute to Rising Manufacturing Costs in The Region
Among most global trades, intra-Asian rates have seen considerable increases in recent years, though the costs on the world’s busiest container trade have not risen as quickly as in other places, Xeneta, and ocean and air freight rate benchmarking and market analytics platform said Thursday.According to Xeneta, in the first half of January, spot rates from the main Chinese ports to the main Japanese and South Korean ports have risen back above USD 1 800 per FEU.
USCG Confirms RINA's Top PSC Status
Italian classification society RINA has completed another year with zero Port State Control (PSC) detentions in the United States. RINA has had only one U.S. PSC…
Mideast-Asia Oil Shipping Rates Rebound, Capped by OPEC+ Supply Cuts
The cost of chartering a supertanker to load Middle Eastern crude oil for Asia has rebounded from a 19-month low in September, but industry sources expect output supply cuts, led by Saudi Arabia, to cap freight rates for the rest of the year.The world's benchmark very large crude carrier (VLCC) export route from the Middle East Gulf (MEG) to Japan, known as TD3, rose to W50.46 on Monday in the Worldscale measure of freight rates, LSEG data showed.
NRF: Import Cargo to Remain Elevated in January
A potential strike at East Coast and Gulf Coast ports has been avoided with the announcement of a tentative labor agreement, but the nation’s major container ports have already seen a surge in imports that is expected to continue because of potential increases in tariffs, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.“The new contract brings certainty and avoids disruptions…
Jiangnan’s Digital VLGC Design Earns LR AIP
Classification society Lloyd’s Register (LR) said it has awarded approval in principle (AIP) to Chinese shipbuilder Jiangnan Shipyard Co.
The Manitowoc Company Celebrates 100 Years
The Manitowoc Company, Inc., a diversified, multi-industry capital goods manufacturer headquartered in Manitowoc, Wisconsin, today will ring the closing bell at…
Maersk Vessels Transmit Live Weather Data to Meteorologists
Container shipping giant A.P. Moller - Maersk said it has teamed up with National Meteorological Service of Germany, Deutscher Wetterdienst (DWD) to install automated weather stations enabling a portion of its fleet to transmit live data to help forecast weather and climate.In the largest project of its kind, A.P. Moller - Maersk (Maersk) has installed automated weather stations (AWS) on 50 of its vessels creating a pulsating oceanic web of weather and climate observations.
Britain's Princess Anne to Open £420M Aberdeen Port Expansion Project
Britain's Princess Anne will on Friday officially open Port of Aberdeen’s £420 million South Harbor expansion project on Friday. The project is expected to catalyze a multi-billion-pound economic and job boost for Scotland.According to a press release issued by the port, independent analysis forecast that when the expanded Port of Aberdeen reaches its full potential the port’s Gross Value Added contribution will jump 60% to £2.4 billion and increase the number of jobs supported by 45% to 17…
Damen Wins Class and Flag States Approval for Methanol-fueled Workboats
Dutch shipbuilding conglomerate Damen announced it has secured approval from classification society Bureau Veritas as well as the Dutch and Belgian flag authorities for its designs of methanol-powered workboats.The shipbuilder said it can now offer designs for a wide range of methanol-powered compact vessels, ranging from tugs, stationary dredgers and high-speed vessels to fast crew suppliers, pilot boats…
Fishermen Turn to Apps and AI to Tackle Climate Change
From weather predicting apps to using artificial intelligence to monitor the fish they catch, small-scale fishermen and coastal communities are increasingly turning to digital tools to help them be more sustainable and tackle climate change.Overfishing and illegal fishing by commercial vessels inflict significant damage on fisheries and the environment, and take food and jobs from millions of people in coastal communities who rely on fishing…
