Maritime Industry Top News
Ship Recycling Markets Remain Muted
Markets remain precariously poised as Diwali holidays occupy the sub-continent markets and the industry heads into the final months of the 2023, says cash buyer GMS. Although several sales have reportedly registered into India at some impressive levels, sentiments and pricing here remains muted overall.āOn the Eastern end and in the lead up to the Bangladeshi elections due in mid-January 2024 - disruptionsā¦
NYK Roundtable Highlights Ship-to-Shore Communications
On October 23, NYK held its annual roundtable discussion on current conditions and issues on board vessels, highlighting the role of communications in ship safety.The meeting was held at the NYK head office in Tokyo in a hybrid format and attended by more than 150 participants, including three captains and three chief engineers on leave, the captain and chief engineer on board the car carrier Iris Leaderā¦
CMA CGM Reports Drop in Quarterly Profit
CMA CGM said on Friday its profit fell in the third quarter as a COVID-era boom in shipping continued to fade, but its volumes picked up as a destocking trend in the United States was offset by brisk demand in other parts of the world.The French-based shipping giant was cautious about next year's outlook, with the prospect of a recovery in global trade - as U.S. firms finish destocking - tempered by expectations of modest economic growth and an influx of new vessels.CMA CGMā¦
Australia Says DP World Cyber Incident 'Serious'
The Australian government on Sunday described as "serious and ongoing" a cybersecurity incident that forced ports operator DP World Australia to suspend operations at ports in several states since Friday.DP World Australia, which manages nearly half of the goods that flow in and out of the country, said it was looking into possible data breaches as well as testing systems "crucial for the resumptionā¦
Reach Subsea Partners with Agalas for New IMR/Survey Vessel
Reach Subsea, a Norwegian subsea services company, has signed a long-term charter contract with Agalas for a modern IMR/Survey vessel to be built in Turkey.According to Reach Subsea, to be hired on three or five-year charter, will has a low emission, smart lifting arrangement and a state of the art equipment package that can be adapted to several market segments, with delivery early 2026.Reach Subseaā¦
Turkey Sends Field Hospital Aid Ship to Egypt for Gaza
Turkey said on Friday it had sent a ship loaded with field hospital equipment, ambulances and generators to Egypt to treat war casualties from Gaza, where Israeli's devastating siege has caused a humanitarian crisis with medical care collapsing."A total of 51 containers of medical supplies, generators and 20 ambulances, with necessary permissions, were loaded onto a ship from Izmir's Alsancak port and sent to Egyptā¦
Baltic Index Logs Weekly Gain as Rates Across Vessels Rise
The Baltic Exchange's dry bulk sea freight index rose on Friday, marking a weekly rise, steered by higher rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 45 points, or 2.8%, to 1,643. The index added 12.4% this week.The capesize index added 103 points, or 4.1%, to 2,589, up 21.4% for the week. Average daily earnings for capesize vesselsā¦
KBR Secures FEED Contract for Liquid CO2 Terminal in Danish Port
KBR has been awarded a Front-End Engineering Design (FFED) contract by Fidelis New Energy for Project Fyrkat, a liquid carbon dioxide (LCO2) receiving terminal at the Port of Aalborg, Denmark. KBR will provide engineering to support the LCO2 handling and storage facility, as Fidelis New Energy aims to help global decarbonization.Project Fyrkat is one of the first onshore CO2 sequestration facilitiesā¦
Japan's NYK Takes Delivery of Seventh LNG-fueled PCTC
Japan's NYK Line has recently taken delivery of the LNG-fueled pure car and truck carrier (PCTC) Sweet Pea Leader at Tadotsu Shipyard Co., Ltd., a member of the Imabari Shipbuilding Group. This is NYK's seventh LNG-fueled PCTC, with NYK planning to introduce a total of 20 new LNG-fueled PCTCs by 2028 as a bridge-solution to achieve net-zero emissions of greenhouse gas (GHG) by 2050 for the NYK Group's oceangoing businesses."Like NYK's other LNG-fueled PCTCsā¦
Ukraine Corridor Freight Costs Up after Missile Attack, Brokers Say
Freight costs for ships using Ukraine's alternative export corridor have risen following an attack on a cargo vessel in the Black Sea off Odesa, brokers said on Friday.Ukrainian officials said on Wednesday a Russian missile damaged a Liberia-flagged civilian ship entering a Black Sea port in the Odesa region, killing one person and injuring four others. The vessel was supposed to transport iron ore to China.Later, they said that the corridor was working despite the attack.
Babcock Signs $916M Submarine Infrastructure Deal with UK Defense Ministry
Defense contractor Babcock has signed a four-year £750 million (~$916 million) contract with the UK Ministry of Defenceās (MOD) Submarine Delivery Agency (SDA), to deliver the infrastructure required to support and sustain the UKās submarines for decades to come.As part of the major infrastructure program underway at the Devonport site, Babcock said it would deliver substantial upgrades to existingā¦
US Coast Guard Medevacs 64-Year-Old from Fishing Vessel Off San Diego
A U.S. Coast Guard Sector San Diego helicopter crew rescued a 64-year-old male passenger from a fishing vessel approximately 40 miles off the coast of San Diego, Thursday.Coast Guard Sector San Diego Joint Harbor Operations Center watchstanders received a distress call from the fishing vessel Pride, requesting a medical evacuation for a crewmember at approximately 9 a.m. The injured male was experiencing multiple onset abnormalities.Based on the reported condition of the individualā¦
Ukraine: Alternative Black Sea Export Corridor is Working Despite Attack
Ukraine's alternative Black Sea export corridor is working despite a recent Russian attack on a civilian vessel, Deputy Prime Minister Oleksandr Kubrakov said on Thursday.Ukrainian officials said on Wednesday a Russian missile damaged a Liberia-flagged civilian ship entering a Black Sea port in the Odesa region, killing one person and injuring four others. The vessel was supposed to transport ironā¦
Estonia Names Chinese Ship as Suspect in Telecoms Cables Damage
Estonia's prosecutor general said on Friday that the Hong Kong-registered NewNew Polar Bear container vessel was the primary suspect in an investigation of damage to two subsea telecoms cables linking Estonia to Finland and Sweden. "We prepared a legal assistance request to China so that the local law enforcement authorities would perform the procedural operations, primarily those connected to the vessel and its crew," State Prosecutor Triinu Olev said in a statement.
Yanmar Delivers Its First Maritime Hydrogen Fuel Cell System
Yanmar Power Technology Co., Ltd. (Yanmar PT), a subsidiary of Yanmar Holdings Co., Ltd, has made its first delivery of its newly commercialized maritime hydrogen fuel cell system, introduced in August 2023. This system was supplied to the passenger ship Hanaria, operated by MOTENA-Sea, a company backed by Mitsui O.S.K. Lines, Ltd. and other investors.The Hanaria is Japan's first hybrid passenger ship to use both hydrogen and biodiesel.
Sustainable Fund Launched for Methanol Fleet
ProMarine AG has launched an industry-first sustainable shipping fund with an initial portfolio of four methanol-fuelled MR tankers led by Proman and Stena Bulk.Low Emission Methanol Shipping Company S.C.A. SICAVāRAIF (LEMSCO) is the result of a collaboration between Proman and Stena Bulk. The fund is backed by equity investors and benefits from a green loan from ABN AMRO. LEMSCO's seed assets consist of four methanol fuelled vessels acquired from Proman and Stena Bulk: Stena Pro Patriaā¦
Monjasa Acquires Two Tankers
Monjasa remains active in the market for secondhand tonnage following the acquisitions of three tankers earlier this year. The oil and shipping group on Thursday revealed additional ownership of the two tankers, Monjasa Leader (68,589-dwt) and Monjasa Refiner (13,051-dwt) for floating storage and bunker operations in West Africa.Monjasa recently took delivery of the two vessels Monjasa Leader (formerly Cabo San Antonio) in Algecirasā¦
Burger Boat Company Introduces the 142 Atrium Motor Yacht
Burger Boat Company and yacht designer Evan K. Marshall have collaborated on the Burger 142 Atrium Motor Yacht, a vessel the companies say combines impeccable design and cutting-edge technology in a stunning 142-foot masterpiece.The inspiration behind the design was to establish an extraordinary centerpiece within the yacht's interior. With the Atrium, Marshall has successfully crafted a multi-story grand entrance that has never been seen on a yacht of this size.
Oil Tanker Fire Sparked by Lithium-ion Battery Explosion -NTSB
The National Transportation Safety Board (NTSB) on Thursday cited thermal runaway of a cell within a handheld radioās lithium-ion battery as the cause of a fire on an oil tanker docked in Baton Rouge, La.The Liberian-registered oil tanker S-Trust was docked at the Genesis Port Allen Terminal on November 13, 2022, when a fire on the bridge was sparked by one of the cells in a lithium-ion battery for an ultra-high-frequency handheld radio exploding, the NTSB's investigation found.
DEME Secures Several Dredging Contracts in Asia
DEME announced it has won several capital and maintenance dredging contracts in India, the Maldives and Malaysia, worth ā¬150 million-300 million combined.At Kakinada port in India, where DEME has frequently been performing dredging works, the newly awarded scope includes deepening of the existing berths, turning circle and the inner- and access channel to a depth of 18 m at the deepest point. Worksā¦
