Maritime Industry Top News
New Hybrid RoRo Ships Ordered for Stena Line
On behalf of Stena Line, Stena RoRo has designed and ordered two hybrid cargo ships from the Chinese shipyard CMI Jinling in Weihai. The ships can be powered by methanol or conventional fuel and have been developed in line with future environmental requirements, for example by using batteries as a future means of propulsion. Major emphasis has been placed on optimizing the cargo capacity, which hasā¦
QatarEnergy to Sign Long-term Asian LNG Supply Deal on Thursday - Source
QatarEnergy will sign a long-term liquefied natural gas (LNG) supply deal with an Asian entity on Thursday, a source with direct knowledge of the matter told Reuters.The deal will be one of many to come this year as the major LNG producer secures sales for its North Field expansion project, the source said on Tuesday. Competition for LNG ramped up last year after the Ukraine war, with Europe in particularā¦
China Merchants Shipping Orders Methanol-Ready Crude Oil Tankers
Shipowner China Merchants Shipping has signed a construction contract for two methanol-ready crude oil tankers to be delivered by China State Shipbuilding Trading, a subsidiary of China State Shipbuilding Corporation, and Dalian Shipbuilding Industry Group.The two 115,000-ton crude oil tankers will have selective catalytic reduction (SCR) to reduce NOx emissions and a scrubber to reduce SOx emissions.On deliveryā¦
Methanol Institute Publishes Guide to Methanol as a Marine Fuel
The Methanol Institute (MI) has published the first comprehensive guide to methanol as a marine fuel.āMarine Methanol Future-Proof Shipping Fuelā includes sections that address regulatory drivers, environmental performance, engines and fuel systems, bunkering, handling and safety characteristics, costs and pricing, availability and feedstocks for conventional and renewable product. Also included are case studies on first movers including AP Moller-Maerskā¦
Cruise Ship Balcony Fire Extinguished
Thousands of cruise passengers were mustered to lifeboat stations at around 0300 on May 28 after a fire broke out on the Pacific Adventure.The vessel was sailingā¦
IBIA Wants IMO to Improve New Flashpoint Regulations
The International Bunker Industry Association (IBIA) has submitted proposals to the Maritime Safety Committee (MSC 107) which will be meeting later this week in a bid to improve understanding and workability of new flashpoint regulations for fuel oil.MSC 107 will meet from 31 May to 9 June and will continue discussion on an agenda item for the development of further measures to enhance the safety of ships relating to the use of fuel oil.
Heroic Idun Released from Nigeria
The Nigerian Navy announced the release of the VLCC Heroic Idun on Saturday, and the crew and vessel are now reportedly sailing for South Africa.The navy said the āgrave infractionsā of the vessel were prosecuted by the Federal Government of Nigeria at the Federal High Court, Port Harcourt on January,10 2023. The 26 foreign crew pleaded guilty and elected voluntarily to enter into a plea bargain thatā¦
South Africa to Investigate U.S. Allegations of Arms Shipment to Russia
South Africa's President Cyril Ramaphosa has appointed a panel to investigate U.S. allegations that a Russian ship had collected weapons from a naval base near Cape Town last year, the presidency said in a statement on Sunday.The U.S. ambassador to South Africa Reuben Brigety said on May 11 that he was confident that a Russian ship, which docked at a naval base in Simonstown in the Western Cape in December last year, took aboard weapons from South Africa.
Malaysia Detains Chinese Ship Linked to Suspected Illegal Salvage of British WW2 Wrecks
Malaysia's maritime authorities on Monday said cannon shells believed to be from World War Two have been found on a China-registered bulk carrier ship detained at the weekend for anchoring in its waters without permission.The discovery comes amid reports this month that scavengers have targeted two British World War Two wrecks off the coast of Malaysia - the HMS Prince of Wales and HMS Repulse - which were sunk by Japanese torpedoes in 1941ā¦
PowerX Unveils 'First-ever' Battery Tanker
Japan-based company PowerX has unveiled the detailed design of the first-ever āBattery Tankerā at an exhibition in Imabari City, Japan. The inaugural ship āXā aims for completion by 2025, with domestic and international field testing planned to start in 2026. This electric propulsion vessel will be 140 meters long and will be equipped with 96 containerized marine batteries, providing a total capacity of 241MWh.
RINA and Eni Set Sail on a Journey to Decarbonize Maritime Operations
RINA, an international company specializing in inspection, certification, and engineering consultancy, and Italian energy company Eni have signed an agreement to jointly develop initiatives that can contribute to the energy transition and decarbonization of their respective operations and particularly maritime transport.The agreement focuses on the use of HVO (Hydrogenated Vegetable Oil) biofuel produced by Eni in its Venice and Gela bio-refineriesā¦
Cyprus Wants Shipping Corridor to Export Mediterranean Gas to Europe
Cyprus wants to establish itself as a gateway from east Mediterranean gas resources to Europe via a shipping corridor of LNG carriers, its president said on Monday. Cyprus's new centrist government, which came to power in February, has cooled to the idea championed by its predecessors of an "EastMed" pipeline transferring gas to Europe.Instead, authorities now want to transport, via pipeline, naturalā¦
Four Bidders Vie For Stake in Exxon LNG Terminal Offshore Italy - Sources
Four international groups are competing to buy Exxon Mobil Corp's majority stake in a liquefied natural gas (LNG) terminal offshore Italy, two sources familiar with the matter said. The deal could value the entire LNG terminal at around 800 million euros ($881 million), the sources said. Exxon said in March it was considering selling its majority stake in Adriatic LNG, Italy's main regasification terminal, as part of a wider strategy to divest non-core assets. The U.S.
Ocean Yield Firms Up Newcastlemax Order
Norwegian shipowner Ocean Yield on Friday announced it has finalized order details for a series of new Newcastlemax bulk carriers.The company announced in December 2022 that it had agreed to acquire a minimum of five and a maximum of 10 vessels with expected delivery dates between Q1 2025 and Q2 2026.Ocean Yield now revealed it has agreed with the charterer that the final transaction scope will be eight or nine vesselsā¦
Asian Spot LNG Prices Slide for Fifth Straight Week
Asian spot liquefied natural gas (LNG) prices have weakened for the fifth consecutive week on muted demand due to healthy stocks, remaining at their lowest level in two years.The average LNG price for July delivery into north-east Asia was down 3% from the previous week at $9.50 per million British thermal units (mmBtu), the lowest since early May 2021, industry sources estimated."North Asia remains largely void of demand.
CMA CGM Sees Profit Easing as Demand Wanes, New Ship Supply
CMA CGM expects its profit to ease further for the rest of the year after a first-quarter decline, as an uncertain economy and influx of new vessels cool the container shipping market after a record 2022.The company, based in Marseille and privately controlled by the founding Saade family, on Friday reported a first-quarter net profit of $2.0 billion, compared with $7.2 billion in the year-earlier period, and said in a statement it expects the first quarter to be its most profitable of 2023.CMA
Canadian Coast Guard Plans to Order Up to 61 Small Vessels
The Canadian Coast Guard has revealed big plans to invest in its fleet of small vessels.Joyce Murray, Minister of Fisheries and Oceans and the Canadian Coast Guard, on Thursday announced $2.5 billion CAD (roughly $1.8 billion USD) for the construction of up to 61 new small vessels and the ongoing replacement of small craft, barges and workboats within the Canadian Coast guard fleet.āThis is a critical investment that will help modernize the Canadian Coast Guardās small vessel fleetā¦
Chinese Ships Ignore Vietnam Demand to Leave Area Close to Russian-run Offshore Gas Fields
A Chinese research ship and five escort vessels were in Vietnam's exclusive economic zone (EEZ) on Friday, close to gas blocks operated by Russian firms in the South China Seaā¦
NORDEN to Acquire the Thorco Projects Business
Danish shipping company NORDEN announced Friday it has entered into an agreement to acquire the Thorco Projects business, providing access to new customers within the general cargo segment such as break bulk, steels and wind energy.Denmark-based Thorco Projects, part of Thornico Group, has in recent years transformed into an asset light business operating a chartered fleet of 30-40 vessels, including mostly Handysize vessels, where NORDEN is a significant operator.
Cargo Vessel Completes Complex Autonomous Journey Off Coast of Norway
Norway's Kongsberg Maritime said Friday it had successfully demonstrated a range of remote and autonomous technologies on a cargo vessel operating off the coast of Norway.The test cruise has been named one of the most complex autonomous journeys at sea so far, Kongsberg Maritime said.The Eidsvaag Pioner is one of the two vessels that are equipped for remote-operated and autonomous transport demonstrations for the AUTOSHIP projectā¦
