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Rescue Underway for Crew of Vessel Hit by Houthis
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The crew of a Greek-owned vessel Tutor that was damaged in an attack by Yemeni Houthi militants in the Red Sea should be rescued within the day although one sailor is still missing, the Philippines said on Friday.The attack near the Yemeni port of Hodeidah on Wednesday caused severe flooding and damage to the engine room and left the Tutor, a Liberia-flagged coal carrier, unable to maneuver. It was…
Samskip LNG Vessel to be Retrofitted with Fuel Cells
![Source: TECO 2030](https://images.marinelink.com/images/maritime/w200h200c/source-teco-2030-150891.png)
TECO 2030, BLOM Maritime and Samskip have received a grant for a pre-project aiming to retrofit Samskip’s vessel Kvitnos with TECO 2030 fuel cells and hydrogen fuel.The project aims to significantly reduce emissions from this LNG-fueled vessel, which currently operates on a weekly multipurpose service from Rotterdam along most of the Norwegian coastline to Hammerfest.The goal of the project is to prepare for an investment decision to retrofit Kvitnos.
Shipbuilding Prices Climb to Highest Level in 16 Years
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The prices for newbuild vessels have risen to their highest level in 16 years, according to latest figures from shipping association BIMCO.“Since 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-date…
Inside Project Perfect Storm
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The latest high-tech rigid hull inflatable boat (RHIB) from Annapolis, Md. based boatbuilder Ocean Craft Marine (OCM), the 11.5-meter Offshore Interceptor, is the result of an innovation push involving some of the industry’s top players.“The design itself is an evolution of existing designs we've done, but taking it to the next level,” said Todd Salus, OCM vice president of operations. “It’s the latest and greatest innovation.”The company’s founder and CEO…
World Leaders, Veterans Commemorate D-Day's 80th Anniversary
![U.S. Soldiers disembark a landing craft under heavy fire off the coast of Normandy, France, June 6, 1944. (Photo Credit: National Archives U.S. Coast Guard Collection)](https://images.marinelink.com/images/maritime/w200h200c/us-soldiers-disembark-a-landing-150707.jpg)
U.S. President Joe Biden made an impassioned call for the defense of freedom and democracy at the 80th anniversary of the D-Day landings in Normandy on Thursday, urging Western powers to stay the course with Ukraine and not surrender to Russian tyranny.At a joint ceremony with French President Emmanuel Macron and U.S. veterans at the Normandy American Cemetery, Biden said it was "simply unthinkable"…
Government Shipbuilding Could Soon Enter American Living Rooms
![(Photo: Daniel Perez / U.S. Navy)](https://images.marinelink.com/images/maritime/w200h200c/photo-daniel-perez-us-navy-150675.jpg)
With the U.S. Navy and U.S. Coast Guard FY 2025 budget requests offering uninspiring news for traditional shipbuilders, industry observers might be forgiven for checking out and dismissing 2024 as just another dull year in the frustrating business of government shipbuilding.But with an election season underway and an increasingly disorderly sea, the year may end up being far more exciting for industry than most U.S.
MDL Invests $9M to Expand Its Flexlay Asset Range
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Back-deck engineering specialist Maritime Developments (MDL) has committed $9 million (£7 million) of capital investment to expand its flexlay asset range.The investment covers six new pieces of modular equipment in MDL’s portfolio, including high-capacity tensioners and reel drive systems, as well as the most recent innovation - Wheeled Horizontal Lay System (WHLS).The Wheeled Horizontal Lay System…
Eastern Pacific Shipping and MAN Team Up on Ammonia Training
![Pictured at the MOU signing (front, left to right) Cyril Ducau, Chief Executive Officer, EPS and Bjarne Foldager, Country Manager, Denmark, MAN Energy Solutions (Photo: MAN)](https://images.marinelink.com/images/maritime/w200h200c/pictured-at-the-mou-signing-150653.jpg)
MAN Energy Solutions has signed a memorandum of understanding (MOU) with Eastern Pacific Shipping (EPS) at Posidonia 2024 International Shipping Exhibition in Piraeus, Greece, on the development of crew training for the handling of ammonia as fuel on vessels.Signed between Cyril Ducau, Chief Executive Officer for EPS and Bjarne Foldager, Country Manager, Denmark for MAN Energy Solutions, the MOU will…
South African Appeals Court Throws Lifeline to Shell's Wild Coast Exploration
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A South African appeals court on Monday suspended a previous ruling that halted offshore exploration by Shell along the unspoilt Wild Coast and allowed oil companies another chance at public consultation, court documents showed.The lack of public consultation was among key reasons why a lower court ruled against Shell and other oil companies Impact Africa and BG International.In a keenly watched decision…
Maersk Raises 2024 Guidance on Strong Demand
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Danish shipping group AP Moeller-Maersk on Monday raised its full-year profit guidance for the second time in a month on the back of strong container market demand and the crisis in the Red Sea.Maersk now expects its underlying earnings before interest, tax, depreciation and amortisation in the range of $7 billion to $9 billion, up from its previous forecast of $4 billion to $6 billion.The company…
OPEC+ Extends Deep Oil Production Cuts into 2025
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OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production.Brent crude oil prices LCOc1 have been trading near $80 per barrel in recent days, below what many OPEC+ members need to balance their budgets. Worries over slow demand growth in top oil importer China…
Red Sea Diversions, Tariff Risks Send Ocean Shipping Soaring
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Spiking ocean shipping rates, vessel backups at seaports and empty container shortages - issues that wreaked havoc on global trade during the COVID pandemic supply-chain crisis - are back as the industry enters its busy season."There is a cocktail of uncertainty and disruption across global ocean freight supply chains," said Peter Sand, chief analyst at pricing platform Xeneta."It is the speed and magnitude of this recent (rate) spike that has taken the market by surprise…
GMS: Firming Demand for Alang Recyclers
![Source: GMS](https://images.marinelink.com/images/maritime/w200h200c/source-gms-150572.jpg)
As May comes to an end, increasing vessel prices on the back of a firming demand from Alang recyclers has now seen local steel plate prices climb nearly $45/ton, reports cash buyer GMS.“Notwithstanding, an all too familiar lack of decent quality tonnage available to global recyclers to sink their teeth into, remains blisteringly omnipresent as the industry ventures into the traditionally quieter monsoon months and freight sectors appear to be performing firmly once again…
Cleaner Shipping Fuel is Contributing to Ocean Warming, Scientists Say
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Shipping fuel regulations introduced in 2020 have led to a substantial cut in sulphur dioxide (SO2) pollution, but may also have made the ocean warmer by reducing cloud cover, according to a modelling study in a paper published late on Thursday.International Maritime Organization (IMO) rules to tackle marine pollution forced shippers to cut their fuel sulphur content to 0.5% from 3.5%, leading to an 80% decline in SO2 emissions…
Washington State Ferries Goes Out to Bid for New Hybrid-electric Vessels
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Deliveries will begin in 2028 if all goes well. Delays and escalating costs have bedeviled the procurement process up until now.Washington State Ferries on Thursday published an invitation to bid on building five new hybrid-electric ferries, an overdue achievement that promises to eventually bring more reliability to cross-Sound ferry service.It’s the first time in more than 50 years that the state will accept bids from shipyards nationwide to construct its vessels.
Container Shipping Market Set to Surpass Red Sea Crisis Peak
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Ocean freight container shipping spot rates are set to exceed the level seen at the height of the Red Sea crisis when the latest round of increases hit the market on June 1, according to the latest data released by Xeneta.Peter Sand, Xeneta Chief Analyst, said: “The ocean freight container shipping market has seen rapid and dramatic increases during May and that is set to continue with further growth in spot rates.“On 1 June…
Maritime Employers: Working to Find Workers
![(Credit: Michel Sauret / U.S. Army Corps of Engineers Pittsburgh District)](https://images.marinelink.com/images/maritime/w200h200c/credit-michel-sauret-us-army-150527.jpg)
“Each Career Connect Washington program is codeveloped with businesses and educators, so each program we build or expand meets the needs of industry and students.” -Andrew Clemons, Grant Administrator, State of Washington.In March, the U.S. Joint Office of Energy and Transportation announced a new workforce development webpage – for electric vehicle job opportunities.A centralized focus, especially from the top…
MSC 108 Revises Autonomous Ship Roadmap
![Source: IMO](https://images.marinelink.com/images/maritime/w200h200c/source-imo-150474.jpg)
The Maritime Safety Committee of the IMO met for its 108th session at IMO Headquarters in London from May 15 to 24, and its outcomes included revising the roadmap for the development of a code to regulate autonomous ships (Maritime Autonomous Surface Ships - MASS).The Committee approved the report of the third session of the Joint MSC-LEG-FAL Working Group on MASS (MASS-JWG 3) and noted the significant progress made to date to develop the draft MASS Code…
When War Risk becomes War Reality: Growing Insurance Complexity
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Marine insurers and legal practitioners are grappling with unresolved challenges even two years after the outbreak of the Russia-Ukraine war. The conflict had brought chaos “not only in the lives of those in the region, but for the maritime industry trying to make sense of the shock,” said Burkhard Fischer, 2023-24 chairman of the Association of Average Adjusters, in his address to the body’s annual conference in London on May 9…
Red Sea Dissruptions Are Driving Up Carbon Emissions
![© Igor / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/igor-adobe-stock-150456.jpeg)
A surge of attacks on ships traveling the waters of the Red Sea is forcing shippers to reroute their vessels, sending them on longer journeys that drive up their carbon dioxide emissions.For companies struggling to account for – and lower – the climate-warming emissions associated with their businesses, these rerouted journeys add to the challenge. Many companies had already revamped their supply chains as they navigated COVID-19 disruptions…