Maritime Industry Top News
Putin Says State-owned VTB Bank to Manage Russia's Main Shipbuilder
Russian President Vladimir Putin on Thursday asked the state-owned VTB bank to manage the state's 100% stake in United Shipbuilding Corporation (USC), Russia's largest shipbuilder, to solve financial problems at the firm.Putin's decision effectively transfers control of Russia's premier shipbuilding assets to Moscow-based VTB, which has been run by Andrei Kostin, one of Russia's most influential bankers…
Mark's Epic Journey: 268 Days 1643 Hours, 6,800 Miles in a Kayak
After 268 days in his kayak, 1643 hours of paddling and a journey of almost 6,800 miles, 65-year-old Mark Fuhrmann has completed his epic “Reverse the Bad” charity expedition across Canada and the United States.In doing so, he becomes the first person to solo kayak the ‘Greater Loop’ circuit, beginning (and ending) in Halifax, Nova Scotia, and traversing the Great Lakes, the Illinois, the Mississippi…
Cuban Oil Tankers Becoming Regular Visitors to Mexican Ports
Cuba has begun using its own tankers to ramp up crude imports from Mexico, which in the second quarter surpassed Russia as a key oil provider to the fuel-thirsty island…
As Container Fleet Grows (4.3%), So too do Sectors Woes
“Deliveries of new container ships during the first seven months of the year reached a new record high of 1.2 million TEU in 2023, beating the previous record by 0.2 million TEU. As recycling of ships has remained low, the fleet capacity has grown 4.3% since January,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.The contracting of new ships has slowed since its record in 2021 but has year-to-date remained twice as high as during the 2010s.
Hapag-Lloyd Net Profit Dives 67% in H1
German container shipper Hapag-Lloyd HLAG.DE on Thursday posted net profit of 2.9 billion euros ($3.18 billion) for the first half of 2023, down by 67% from a year earlier, but maintained its full year earnings forecast.The net profit compared with 8.7 billion euros in 2022 when shipping, a proxy for global trade, enjoyed a boom as economic growth rebounded following the end of pandemic lockdowns and as logistics disruptions raised freight rates for customers.
Pavilion Energy, CNOOC Complete First Bunker Delivery to LNG-powered VLCC
Singapore's Pavilion Energy and China's CNOOC Gas and Power Group completed their first liquefied natural gas (LNG) ship-to-ship bunker operation for a very large crude carrier (VLCC) at China's Guangzhou port, the companies said on Thursday.A total of 2,800 metric tons of LNG was delivered from CNOOC's LNG bunker vessel Hai Yang Shi You 301 to the VLCC Maran Dione, owned by Angelicoussis Group's Maran Tankers Management (MTM)…
Brunvoll's Propulsion and Manoeuvring Packages for Purus Wind's CSOVs
Norwegian firm Brunvoll has secured a contract to deliver propulsion and manoeuvring packages for Purus Wind's two new Commissioning Service Operation Vessels (CSOV).Each vessel will be outfitted with two azimuth thrusters for propulsion, and two retractable azimuth thrusters and a tunnel thruster for manoeuvring The scope of supply features also Brunvoll's Propulsion and Thruster Control system, Brucon…
Svitzer Australia Appoints New Managing Director
Videlina Georgieva has been appointed as the new Managing Director of Svitzer Australia.She will help drive regional growth and progress Svitzer’s decarbonization agenda and replaces outgoing Nicolaj Noes who will be leaving Svitzer to take on a new opportunity.Georgieva brings a deep understanding of Svitzer’s business and operations, including within Australia, where she has been part of delivering significant commercial results throughout her 13 years with Svitzer…
DB Schenker Decarbonising Logistics Chain with Biofuels
Hapag-Lloyd has entered into a partnership with logistics provider DB Schenker to decarbonise supply chains through the use of biofuels.The two companies have signed an agreement for emission-reduced container transports with a waste- and residue-based biofuel. By end of 2023, DB Schenker plans to claim approximately 3,000 metric tonnes of carbon dioxide equivalent (CO2e) emissions avoidance. This is based on at least 1…
ZeroNorth Provides Voyage Optimisation Solution to Bulker Owners
Cargill has signed a three-year contract that will see ZeroNorth become Cargill’s primary software provider for optimisation of over 600 vessels. Cargill commenced its strategic partnership with ZeroNorth in 2020. The partnership has expanded over time, with Cargill and ZeroNorth working together to develop ZeroNorth’s fuel model and dry bulk solutions.Eman Abdalla, Global Operations Director for Cargill Ocean Transportation…
Axpo Orders LNG Bunkering Vessel Capable of Ship-To-Truck Operations
Italian energy company Axpo has signed a 10-year deal to charter an LNG bunkering vessel which is expected to begin operations in 2025.The agreement has been signed with Italy’s Gas and Heat SpA and the San Giorgio del Porto shipyard. The vessel will be built in the San Giorgio’s shipyard in Piombino, Italy, and will have a capacity of up to 7,500 cubic metres. In the future, the ship could also transport bio-LNG and ammonia.
OOCL Adds Another Ultra-Large Container Ship to Fleet
OOCL’s 24,188 TEU ultra-large container ship OOCL Felixstowe has been officially named at COSCO Dalian Kawasaki shipyard.The Oriental Felixstowe is the fourth of 12 ultra-large container ships which are among the world’s largest. They are being built by COSCO Shipping Heavy Industry for OOCL, and the third, OOCL Piraeus, entered operation on May 30.Yang Zhijian, Chief Executive Officer of OOCL, said…
The "KISS Principle" & Managing, Measuring Ship Emissions
HydroComp is a well-established, small engineering firm focused on hydrodynamic and propulsion system simulation, providing design tools for engineers and naval architects to focus on vessel performance, including emissions. Don MacPherson, HydroComp’s long-tenured Technical Director, discusses the impacts of tightening emissions regulations, with insights on maximizing new vessel designs and refits.Don, maritime has been in the crosshairs of regulators to reduce emissions.
Udo Lange Named CEO of Stolt-Nielsen Limited
Stolt-Nielsen said that, after 23 years as Chief Executive Officer, Niels G. Stolt-Nielsen will step down from his role as CEO on September 1, 2023, and will assume the role of Chairman of the Board of Stolt-Nielsen Limited. He will be succeeded as CEO by Udo Lange.Lange, who will join Stolt-Nielsen as Chief Executive Officer on September 1, 2023, has more than 20 years of experience in the international trade industry…
Baltic Index Inches Up as Panamax Gains Outweigh Capesize Losses
The Baltic Exchange's main sea freight index edged up on Wednesday as panamax rates hit a near three-month high, countering a dip in the larger capesize segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, increased 2 points to 1,144.The panamax index .BPNI gained 38 points, or 3.2%, to 1,233, its highest since May 18.Average daily earnings for panamax vessels…
Reygar's Tech Helps HST Marine's Hybrid CTVs to Lower Emissions and Boost Efficiency
Swansea-based HST Marine, a Purus Wind company, is using Reygar’s BareFLEET technology to understand and report on the performance of its hybrid Crew Transfer Vessels (CTVs), and reduce emissions.The company currently has four hybrid CTVs in operation with three more soon to enter service, all of which have BareFLEET installed. These vessels are a mix of both controllable and fixed pitch propeller systems that take power from either a high-efficiency electric motor or the main engine…
Last Fugitive Linked to Ferry Disaster Extradited to South Korea
A South Korean businessman wanted for nine years by authorities was extradited from the United States last Friday to face charges linked to one of the country's worst maritime disasters in which over 300 people, mostly children, were killed.Yoo Hyuk-kee was taken into custody on arrival from New York, where he had been fighting extradition to South Korea, where he faces embezzlement charges related to the company that operated the doomed vessel. Last year, the U.S.
Sri Lankan Shipyard Delivers Cable Layer to European Owner
Colombo Dockyard PLC recently delivered the first-ever Cable Laying and Repair Vessel (CLRV) to the European market from Sri Lanka.The vessel was built for Orange Marine, a France-based specialist in submarine telecommunications, whose fleet represents a 15% of the global fleet in this sector."Colombo Dockyard delivered the first Cable Layer (CLV) to Japan in 2019. Now, with the delivery of "C/S Sophie Germain…
Forty-one Feared Dead in Migrant Shipwreck in Central Mediterranean
Italian authorities on Wednesday said forty-one migrants are thought to have died in a shipwreck last week in the central Mediterranean, according to accounts by survivors who have been taken to the island of Lampedusa.Local public prosecutor Salvatore Vella confirmed media reports that four people who survived the shipwreck told rescuers they were on a boat carrying 45 people, including three children.Vella's…
Panama Ship Registry Stands at 8,662 Vessels
The Panama Flag Ship Registry administered by the Panama Maritime Authority (AMP) reports that it added more than 5.9 million gross registered tons in the first half of 2023, and according to IHS Markit, at the end of June the Panama merchant fleet is made up of 8,662 ships totaling 249.8 million grt.As part of its competiveness strategy, the General Directorate of Merchant Marine in 2023 has established three quality objectives:Improve retention…
