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Finland Sees Continued Demand for Icebreakers Despite Warming Winters, Citing Security Concerns
Finland expects to operate at least as many icebreakers in the coming decades as it does today, despite rising temperatures and declining average ice coverage in the Baltic Sea. This is the conclusion of a new government-commissioned report that also highlights growing security requirements and changes in the commerci…
Iran Oil Exports Near Zero But Peace Deal Not Likely, FGE Says
Iranian oil exports have dwindled to almost nothing under the US naval blockade, but the chance of an imminent deal between the two sides to end the war is low, according to FGE NexantECA.
DenAr takes on Turkey’s first offshore wind seabed survey campaign
Turkish marine survey specialist DenAr Ocean Engineering Services has been selected by the country’s Ministry of Energy and Natural Resources to carry out geophysical and geotechnical seabed investigations for Turkey’s first offshore wind development programme. The NCS-01 project covers two areas in the Sea of Marmara…
Venergy doubles VLCC order at Hengli
Greek shipowner Vyron Vasileiadis has firmed up another two VLCCs at China’s Hengli Heavy Industries, doubling Venergy Maritime’s debut supertanker order to four vessels. The Piraeus-based company exercised the options attached to its October contract for two firm 306,000 dwt crude carriers, with all four vessels sche…
Capital Tankers scores up to $82m suezmax fixture
Evangelos Marinakis-backed Capital Tankers has secured a 15-month charter for one of its modern suezmaxes in a deal expected to generate between $73.1m and $82.2m in revenue. The Oslo-listed tanker owner said on Friday that its 155,348 dwt Amor has been fixed to an unnamed global energy company, with employment starti…
Ammonia-Powered Bulk Carrier Takes on Green Fuel in Australian First
Australia has completed its first green ammonia bunkering operation involving an ammonia-powered bulk carrier, marking another step toward bringing alternative fuels into commercial shipping. The operation took place earlier this...
MARAD Approves $1 Billion Offshore Crude Oil Export Port Off Louisiana
The Trump administration has approved a $1 billion offshore crude oil export project off the coast of Louisiana, clearing a major regulatory hurdle for a facility designed to load some...
Brazilian builds boat from rubbish to collect more rubbish
A former Brazilian ocean canoeing champion has taken recycling to a floating extreme, constructing a boat from 230 discarded plastic containers so he can collect even more rubbish from the sea. Marcos Arnhold spent two months building the unusual craft in Guaratuba, southern Brazil, using 125 two-litre plastic bottles…
War Comes to NATO’s Black Sea Coast, and Shipping Starts Saying No
Maritime experts warn that the westward spread of attacks between Russia and Ukraine, toward NATO coastlines, is now having commercial consequences.
IMO Backs Dominguez for Second Term Amid Shipping Attacks and Climate Deadlock
The International Maritime Organization (IMO) Council has backed Secretary-General Arsenio Dominguez for a second four-year term, extending its support for his leadership despite the organization’s failure to adopt its landmark...
Maersk’s 26-Ship LNG Order Adds Nearly Half a Million TEU to Newbuilding Pipeline
A.P. Moller-Maersk is pressing ahead with one of its largest containership ordering programs in years, confirming in its third-quarter earnings report that it has ordered 26 LNG dual-fuel vessels with...
Urban Outfitters seeks material cost visibility from expanded technology suite
The parent of several retail brands is tacking on additional features to its current production lifecycle management platform to improve supply chain efficiency.
The Hidden Liabilities In Maritime Acquisitions
What Buyers, Sellers and Investors Often Miss During Due DiligenceBy Sabrina Brigance, CMIP, Managing Director, Marine Practice, Hylant Maritime mergers and acquisitions can create significant opportunities for growth. Private equity...
France Extends Maritime Patrol Plane’s Stay in Black Sea After Cargo Ship Attacks
A French maritime patrol aircraft deployed to Romania to bolster surveillance after a series of deadly strikes on merchant ships in the Black Sea on the edge of NATO's eastern flank will extend its stay by several weeks, its commander said on Thursday.
Logitech launches supply chain decarbonization program
The computer peripheral manufacturer’s Chain Reaction initiative will start with 17 suppliers pooling purchasing power to collectively buy renewable electricity.
BP raises over $1bn from Aker BP stake sale
British energy major BP has raised about $1.06bn by selling part of its stake in Norwegian oil and gas producer Aker BP as it continues efforts to strengthen its balance sheet. The company sold 31.6m shares, representing around 5% of Aker BP’s total issued share capital, for NOK311 per share. The transaction generated…
Maersk Slides as Upgraded Guidance Is Lower Than Anticipated
AP Moller-Maersk A/S shares slumped after a guidance upgrade and third-quarter earnings from the world’s second-largest shipping line fell short of analyst estimates.
Evergreen’s Suez return leaves Zim increasingly isolated
The container shipping industry’s long detour around southern Africa is rapidly coming to an end, with Taiwan’s Evergreen preparing to send its first ships through the Suez Canal after almost three years of avoiding the Red Sea. According to liner consultancy Linerlytica, Evergreen will deploy the 16,556 teu Ever Eon …
Maersk upgrades profit outlook despite underperforming rivals
Maersk has raised its full-year earnings guidance for the third time this year, with the Danish shipping giant continuing to benefit from extraordinary freight rates, resilient cargo demand and widespread supply chain disruption. The Copenhagen-headquartered group now expects underlying EBITDA of between $14bn and $14…
Propspeed Joins RightShip’s Zero Harm Innovation Partners Program to Support More Efficient and Sustainable Vessel Operations
Improving vessel energy efficiency is an important part of the maritime industry’s efforts to reduce fuel consumption and greenhouse gas emissions. While hull performance often receives significant attention, the condition...
Coast Guard Looks to Commercial Icebreakers to Keep Northeast Ports Open This Winter
The U.S. Coast Guard is exploring the use of commercial icebreaking vessels to help keep Northeast ports and waterways open this winter, as the service prepares for another season of...
USTR urged to permanently suspend China-linked ship fees
Stakeholders such as the World Shipping Council and the National Retail Federation are concerned fees will “add another cost layer to an already strained transportation system.”