Maritime Industry Top News
Vitol Completes Biofuel Delivery in the UAE
Vitol says it successfully completed its first biofuel deliveries in Fujairah.Through its wholly-owned bunker arm, Vitol Bunkers, two vessels received B24 VLSFO on December 8 and 14. The fuel was sourced from its Fujairah-based refinery FRL and blended with regionally-sourced biofuel at VTTI storage facilities.
Louis Dreyfus Opts for eSAILs on Juice Ship
bound4blue and Louis Dreyfus Company (LDC) announced today a commercial agreement for the manufacture and installation of four eSAILs on LDC’s chartered juice vessel, MV Atlantic Orchard, in collaboration with Wisby Tankers AB, Sweden (Wisby Tankers).Chartered by LDC and owned by Wisby Tankers, MV Atlantic Orchard will be retrofitted with four 26-meter-high eSAILs. The installation of the eSAILs is planned for 2024 and…
DOF Set to Bring in $30M From Two New Projects
Norwegian offshore vessel operator DOF Group has secured two new projects – one in the North Sea and the other in Asia Pacific region – whose combined revenue is expected to bring in $30 million to the company. The first contract for DOF covers engineering, procurement, removal and disposal (EPRD) for a North Sea operator, including the project management, engineering, logistics and execution of an FPSO cessation project.
BP Pauses All Shipments Through Red Sea Amid Houthi Attacks
Oil prices were little changed on Tuesday as investors eyed the impact on oil supply after attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels.Brent crude futures rose 6 cents to $78.01 a barrel at 0726 GMT. The front-month U.S. West Texas Intermediate crude futures contract , which expires on Tuesday, fell 18 cents to $72.29 a barrel.
MOL to Expand Fleet With 5 New LNG-fueled Capesize Bulkers
Japanese shipping major Mitsui O.S.K. Lines (MOL) has decided to expand its fleet with the additional five newbuilding dual-fueled Capesize bulkers, which can burn either LNG or conventional marine fuel oil.Two of the vessels will be ordered to Nihon Shipyard and built by Imabari Shipbuilding, while there remaining three will be built by Chinese CSSC Qingdao Beihai Shipbuilding.The vessels are slated for delivery from 2026 to 2027, according to MOL.
Disruptions in Red Sea Unlikely to Have Large Effects on Oil, LNG, Goldman says
The disruption to energy flows in the Red Sea is unlikely to have large effects on crude oil and liquefied natural gas (LNG) prices as vessel redirection opportunities imply that production should not be directly affected, Goldman Sachs said.Oil prices advanced on Tuesday, extending gains from the previous session, as attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels.Oil major BP temporarily paused all transi
Maersk Reroutes Vessels Around Africa from Red Sea
Denmark's Maersk said on Tuesday its vessels previously paused and due to sail through the southern Red Sea and the Gulf of Aden would be rerouted around Africa via the Cape of Good Hope due to attacks on vessels in the area. As of Monday, December 18, Maersk had paused around 20 vessels, of which half were waiting east of the Gulf of Aden and the rest were waiting south of the Suez canal in the Red Sea or north of it in the Mediterranean Sea, the company said in a statement.
New General Manager Appointed for Taylor Smith Shipyard
Taylor Smith Shipyard (TSS), the oldest ship repair yard on Mauritius, has appointed Willy van Niekerk as new General Manager.van Niekerk knows the yard well and was Assistant General Manager since 2022. He has broad experience in the maritime and offshore industries, taking to sea at 14 as a school holiday job on a converted fishing vessel and deciding to study marine engineering as a result.Throughout the years…
Harim Preferred Buyer of HMM
Harim Holdings on Tuesday said it has been chosen as the preferred bidder to buy control of South Korea's biggest container shipping company HMM in what people with knowledge of the matter said was a 6.4 trillion won ($4.92 billion) deal.Harim and HMM creditors Korea Development Bank and Korea Ocean Business will negotiate a final deal by the first half of 2024 for 58% of the shipper, said the people…
US Launches Multi-National Operation to Safeguard Red Sea Commerce
The United States on Tuesday launched a multinational operation to safeguard commerce in the Red Sea as attacks by Iran-backed Yemeni militants forced major shipping companies to reroute, stoking fears of sustained disruptions to global trade.The Houthi militant group, which controls vast amounts of territory in Yemen after years of war, has since last month fired drones and missiles at international…
Ingalls Authenticates Keel of Destroyer George M. Neal (DDG 131)
HII’s Ingalls Shipbuilding has authenticated the keel of the U.S. Navy Arleigh Burke-class (DDG 51) guided missile destroyer George M. Neal (DDG 131).George M. Neal (DDG 131) is the fourth Flight III destroyer to be constructed at Ingalls. Flight III Arleigh Burke-class destroyers incorporate a number of design modifications that collectively provide significantly enhanced capability including the AN/SPY-6(V)1 Air and Missile Defense Radar (AMDR) and the Aegis Baseline 10 Combat System…
CMA CGM to Reroute Some of Its Ships via Cape of Good Hope
French shipping group CMA CGM said on Monday that it is rerouting some of its vessels via Cape of Good Hope in the wake of attacks on commercial vessels in the Red Sea region.All other "CMA CGM containerships in the area that are scheduled to pass through the Red Sea have already been instructed to reach safe areas and pause their journey until further notice," the Marseille-based group said in a statement on their website.(Reuters - Reporting by Anirudh Saligrama, Editing by Franklin Paul)
China to Conduct Sea Trials for Its First Ultra-deepwater Drilling Ship
China will on Friday conduct sea trials for its first ocean research drilling vessel, capable of drilling at depths of more than 10,000 meters (32,800 feet), a key step towards beefing up the country's deep-sea oil and gas exploration capabilities.It is China's first vessel capable of ultra-deepwater research and drilling, Chinese state media reported on Monday. It can travel 15,000 nautical miles (27,780 kilometers) and operate for 120 consecutive days without returning to port.
Ask What Your Government Can Do For Your Industry (A 2023 Retrospective)
John F. Kennedy’s famous locution, “Ask not what your country can do for you, but you can do for your country” remains the rallying call for civic action and public leadership. The message remains foundational to the success of the United States, particularly as we head into an election year that once again appears to be filled with divisiveness and vitriol. That said, before we flip the calendar,…
Record Output, Tax Dodge Pushes Up Crude Exports from US Gulf Coast
Oil is flooding out of Texas in the final weeks of 2023, as traders find outlets abroad for record U.S. production and dodge a hefty year-end tax bill on their inventories.U.S. crude exports, nearly all of which leave from the U.S. Gulf coast, averaged about 4 million barrels per day (bpd) so far this year, according to U.S. government data, about 500,000 more than last year's record as oil production climbed to 13.2 million barrels per day.U.S.
Two Electric Tugs Built for SAAM Towage in Canada
The first electric tugs for SAAM Towage's fleet are ready to sail from the Port of Tuzla to Vancouver, Canada, where they will join the fleet operating in that country.SAAM Towage's Engineering and Development Manager, Pablo Cáceres, said, "We are one step closer to having our electric tugs operating, which for us represents the way to advance towards more sustainable operations and move our business…
Commercial Ship Still Hijacked off Somali Coast
A commercial vessel hijacked by unknown assailants remains off the coast of Somalia raising fears of further instability for global shipping as attacks escalate in the Red Sea, maritime security sources said on Monday.A Spanish navy ship was dispatched at full speed on Friday towards the Maltese-flagged Ruen vessel, which sources said had been hijacked.British maritime security company Ambrey said the vessel had reached nine miles offshore from Bander Murcaayo in Puntland, Somalia on Dec.
The Man Behind the 'Jones Act'
![Senator Wesley Livsey Jones (Credit: Library of Congress, Prints and Photographs Division, photograph by Harris and Ewing, [LC-DIG-hec-15427])](https://images.marinelink.com/images/maritime/w200h200c/senator-wesley-livsey-jones-credit-146310.jpg)
Senator Wesley Livsey Jones gave his name to the famous “Jones Act” governing U.S. domestic maritime trade. But what do really know about him? It turns out that he was much more than a leading merchant marine policy maker. (i)Jones had a long career in the U.S. House of Representatives before he was a Senator, was an effective legislator, an astute politician, one of the hardest working legislators of his era, and always viewed as honest and forthright.
Bab al-Mandab Shipping Lane Becomes Target as Israel Fights Hamas
Yemen's Houthis have been targeting vessels in the southern Red Sea and the Bab al-Mandab Strait in attacks that the Iran-aligned group says aim to support the Palestinians as Israel and Hamas wage war.Several freight firms including MSC, the world's largest container shipping line, said they would avoid the Suez Canal as a result, which could mean having to circumnavigate Africa instead.War risk insurance premiums have risen as a result.WHAT ARE THE RECENT HOUTHI ATTACKS?* Dec.
Bollinger Delivers US Navy Berthing Barge
Last week, Bollinger Shipyards delivered the first Bollinger-built Auxiliary Personnel Lighter–Small (APL(S)) Class berthing and messing barge (APL 71) to the U.S. Navy. APL 71 is the fifth vessel of its class to be delivered to the Navy and the third to be homeported in Norfolk, Va.The previous four APLs were built and delivered by VT Halter Marine, which Bollinger acquired in late 2022. Halter received…
