US Marine Economy Continues Growth Trend -Report
Sales and jobs in the United States' marine industry are on the rise, according to the most recent statistics from the annual Marine Economy Satellite Account (MESA) released by two Department of Commerce agencies — NOAA and the Bureau of Economic Analysis (BEA).In 2022, the American marine economy contributed a total of $476 billion in economic impact, making up nearly 2% of the nation’s gross domestic product (GDP).
ABS and Liberian Registry Greenlight HHI's Next-gen Ammonia Carrier Design
The American Bureau of Shipping (ABS) and the Liberian Registry are both granting approval in principle (AIP) to HD Hyundai Heavy Industries (HHI) and Capital Gas Ship Management (Capital Gas) for a very large ammonia carrier (VLAC) design. This innovative vessel design features the integration of Amogy’s carbon-free ammonia-to-electrical power system, marking a significant leap forward in sustainable maritime technology.Amogy…
North Sea Floating Oil Storage Jumps to Highest Since Early 2022
Trader Gunvor and French major TotalEnergies have stored North Sea crude in at least four tankers in the past month as on-water stockpiling of the grades hits a 2-1/2 year high, a fresh sign of weak appetite for oil from refiners.At least 2.6 million barrels of North Sea crude grades Forties and Gullfaks have been put in floating storage in Europe, the highest volume since January 2022, according to data from analytics firm Vortexa.Physical oil markets have weakened globally in recent weeks…
Malaysia Evicts 500 'Sea Nomads'
More than 500 people from seafaring communities around the coast of Malaysia's Sabah state have been evicted from their homes this week as part of a crackdown against undocumented migrants, local activists said.The Bajau Laut are a community of mostly stateless sea nomads, living offshore in wooden houseboats or huts built on stilts in the Semporna district of Sabah on Borneo island.Born without identification documents…
Four Industry Players Join Forces to Design Ammonia-Fueled Tanker
Swiss marine power company WinGD, Swedish marine technology leader Alfa Laval and the American Bureau of Shipping (ABS) will work with Korean shipbuilder K Shipbuilding (KSB) on the development of an ammonia-fueled MR tanker design.Two agreement follows the memorandum of understanding (MoU) signed in April. The design will feature a 6X52DF‑A engine from WinGD.WinGD will work with KSB to deliver fuel gas system specifications suitable for the vessel application and the selected engine…
Argentina Maritime Unions to Halt Port Activities for 48 Hours
Maritime labour unions in Argentina announced on Thursday they would cease all activities in ports for 48 hours.The United Maritime Workers Union in a post on Facebook said that the Tugboat Owners Chamber (C.A.R.) has refused to negotiate an expired bargaining agreement, prompting the union to halt work.However, in light of concerns over potential energy supply shortages, the union confirmed that tugboats, which guide vessels supplying thermoelectric power plants and LNG gas tankers, will contin
HD Hyundai Mipo Gets ABS’ Nod of Approval for Ammonia-Powered Tanker
American Bureau of Shipping (ABS) has issued an approval in principle (AiP) for a 50K DWT ammonia-powered tanker design from HD Hyundai Mipo.The vessel will feature an ammonia engine designed by WinGD and manufactured by HD Hyundai Heavy Industries – Engine & Machinery Division (HHI-EMD).Also, it will boast ammonia fuel supply system designed by HD Korea Shipbuilding & Offshore Engineering (KSOE) and…
North Star Eyes 40 Hybrid SOVs by 2040 with New Funding in Its Pockets
North Star has secured debt investment of up to $543 million (£425 million) to fuel the next phase of its European offshore wind expansion, setting the target to add 40 hybrid service operation vessels (SOVs) to its fleet by 2040.The committed financial package of $287 million (£225 million) includes term facilities from existing lender, IFM Investors, and committed capex and working capital resources from banks including ABN AMRO (sustainability co-ordinator)…
Mitsubishi Shipbuilding Receives Order for Two LNG Fuel Gas Supply Systems
Mitsubishi Shipbuilding has received an order from Imabari Shipbuilding for two LNG fuel gas supply systems (FGSS) for high-pressure dual-fuel marine engines.The units are for two LNG-fueled bulk carriers to be built by Imabari Shipbuilding which will be continuously delivered with LNG fuel tanks from summer 2025.The FGSSs ordered feature a modular, optimized cargo space layout that provides exceptional…
Final Truss Blocking Fort McHenry Federal Channel Removed
Ten weeks after the collapse of Baltimore’s Francis Scott Key Bridge, salvage crews successfully removed the final large steel truss segment blocking the 700-foot-wide Fort McHenry Federal Channel on June 3-4.Using concrete breakers, underwater surveys, and oxyacetylene torches, they separated tons of concrete roadway, cable, and steel rebar from "Section 4C" while removing debris with clamshell dredges.On May 20…
China Solidifying Lead in Global Electrolyzer Market
Mainland China's national plan identifies hydrogen as a key element in its low-carbon energy transition strategy. The nation is committed to using hydrogen for decarbonization, with Rystad Energy projecting the installation of approximately 2.5 gigawatts (GW) of hydrogen electrolyzer capacity by the end of the year.This capacity is expected to produce 220,000 tonnes per annum (tpa) of green hydrogen, 6-kilotonnes-per-annum (ktpa) more than the rest of the world combined.
DNV CEO Makes “Realistic” Observations on Decarbonization
DNV Maritime CEO Knut Ørbeck-Nilssen delivered introductory remarks at the Energy Efficiency in Focus Seminar at Posidonia outlining the prospects for the decarbonization of the maritime industry and emphasizing the importance of considering energy efficiency measures.Ørbeck-Nilssen discussed some of the major challenges facing shipping as it strives to reach increasingly ambitious regulations and goals…
PPG Coating Approved by RightShip Program
PPG has announced a collaboration with RightShip as part of Rightship’s Zero Harm Innovation Partners Program. The initiative aims to foster the development and adoption of innovative solutions to promote a more sustainable future in the maritime industry.PPG’s PPG SIGMAGLIDE® 2390 biocide-free silicone fouling release is the only hull coating to be approved by RightShip’s rigorous product review process…
Greek-Owned Bulker Allegedly Targeted by Houthis
British security firm Ambrey said on Thursday a Greek-owned bulk carrier was allegedly targeted by Yemen's Houthis while travelling northbound in the Red Sea.The ship's transmissions stopped 118 nautical miles east of Massawa, Eritrea when it was underway from Mormugao, India, with its destination as Suez, Egypt, the firm said in a statement that did not name the ship."The alleged 'targeting' of the vessel was aligned to the stated Houthi intent," Ambrey said.
US Expecting Russian Naval Exercises in Caribbean this Summer
Russia plans to send combat vessels into the Caribbean region this summer as part of naval exercises that will likely include port calls in Cuba and possibly stops in Venezuela, a senior U.S. official said on Wednesday.The United States does not see the move involving a relatively small number of vessels and planes as threatening, but the U.S. Navy will monitor the exercises, the official told a small…
Canada Removing 'Problem' Vessels from Port of Bridgewater
Canada is removing a trio of "problem" vessels that have been abandoned in Nova Scotia's Port of Bridgewater.The three vessels—Hannah Atlantic, Cape Rouge and Rupert Brand VI—all showing signs of disrepair, have been moored at a privately owned wharf on the LaHave River for a number of years, posing a threat to the marine environment.The Canadian Coast Guard's Marine Environmental and Hazards Response team is leading a six-month operation to remove…
ABS to Create a Hellenic Ship Safety Center
A new ship safety center in Athens will help prepare seafarers to handle a dynamic, multi-dimensional shipping industry as alternative fuels and emerging technologies present new challenges for the sector.Plans to open the Hellenic Ship Safety Center were announced by classification society ABS at the Posidonia trade fair in Athens.“There is a lot of focus on technology readiness timelines, but what we need to focus on is people readiness timelines,” said Christopher J.
Public-private Partnership to Build $635 Million Port Terminal in Delaware
The State of Delaware will join the private operator of the Port of Wilmington, Enstructure, to build a new port terminal at a site in Edgemoor, Delaware. The Edgemoor industrial site was purchased in 2017 by the taxpayer-owned Diamond State Port Corporation (DSPC) which subsequently secured the necessary permits to construct a new port terminal.This $635 million infrastructure project will be largest shipping terminal in Delaware since the current Port of Wilmington opened in 1923.
Libra Group Exits Container Shipping in $2 Billion Sales Play
Libra Group exited the container shipping market this week after selling close to 100 vessels for more than $2 billion over several years to focus on innovation and sustainability as new drivers of growth, the company's executive chairman said.The container market hit rock bottom nearly a decade ago before rebounding to record highs during the COVID pandemic as demand for consumer goods, which are carried by container ships…
Container Shipping Demand Up Significantly, Hapag-Lloyd CEO Says
Hapag-Lloyd Chief Executive Rolf Habben Jansen said on Wednesday that demand for container shipments across the world's oceans has risen significantly in recent weeks but the upswing may be short-lived.The CEO told customers at an online presentation that the increase since the start of May was due to a combination of stocks being replenished in some sectors, unexpectedly high customer demand and shipping…
