Report: Two-thirds of European Green Shipping Fuel Projects at Risk
Two-thirds of European green shipping fuel projects are at risk, a new Transport & Environment (T&E) study shows.T&E’s mapping of green hydrogen projects across Europe shows that nearly 4% of European shipping could run on green e-fuels by 2030. But fuel suppliers appear to be reluctant to commit financially to projects without more guarantees that there will be demand for these fuels in the near future.
Stena Line Using AI for Voyage Optimization
Stena Line has reported a significant reduction in fuel consumption thanks to its strategic use of AI.Through its Voyage Optimization System, optimization of vessel functions can now be done much more efficiently, and this has resulted in a 1-5% reduction in fuel consumption.The system has been tested on crossings between Gothenburg and the Danish port of Frederikshavn, among others. The use of AI…
Methanol Orders Dominate May Orderbook
DNV has released its May figures from the Alternative Fuels Insight (AFI) platform, and according to the latest figures, 33 new orders for alternative fueled vessels were placed in May 2024. Methanol continues to be the biggest driver, accounting for 23 of these vessels. Ten of these are from the container segment, along with five bulk carriers, and four car carriers.LNG continues to lag behind methanol…
ABS 2024 Outlook Highlights Shift in Fleet Composition
According to the latest ABS research, geopolitical instability, scalability of fuel production and retrofits to existing vessels are key factors impacting the shipping industry’s journey to net zero by 2050.The sixth in an annual series, the 2024 Outlook, Beyond the Horizon, Carbon Neutral Fuel Pathways and Transformational Technologies, features an update of ABS’ long-term energy forecast.“The 2024…
World Shipping Council Welcomes New SOLAS Regulations
The World Shipping Council (WSC) has applauded the recent adoption of amendments to SOLAS at MSC 108. Starting January 1, 2026, these amendments will require mandatory reporting of all containers lost at sea, setting a new standard for maritime safety and environmental protection.“The new regulations, specifically amending SOLAS Chapter V Regulations 31 and 32, mark a significant advancement in maritime safety and environmental protection.
South African Appeals Court Throws Lifeline to Shell's Wild Coast Exploration
A South African appeals court on Monday suspended a previous ruling that halted offshore exploration by Shell along the unspoilt Wild Coast and allowed oil companies another chance at public consultation, court documents showed.The lack of public consultation was among key reasons why a lower court ruled against Shell and other oil companies Impact Africa and BG International.In a keenly watched decision…
Maersk Raises 2024 Guidance on Strong Demand
Danish shipping group AP Moeller-Maersk on Monday raised its full-year profit guidance for the second time in a month on the back of strong container market demand and the crisis in the Red Sea.Maersk now expects its underlying earnings before interest, tax, depreciation and amortisation in the range of $7 billion to $9 billion, up from its previous forecast of $4 billion to $6 billion.The company…
Maersk Faces Significant Port Congestion in Asia, Mediterranean
Maersk faces significant terminal congestion in Mediterranean and Asian ports, causing substantial delays in its vessel schedule, the Danish shipping group said in a statement on Monday.As a result of that congestion, the world's second-largest container shipping company, will skip two westbound sailings from China and South Korea that had been planned to depart in early July, it added.The notice from…
Inchcape Shipping Services Acquires Grieg Logistics
Port agency and marine services company Inchcape Shipping Services on Monday announced it has acquired Grieg Logistics AS from the Grieg Group, strengthening its presence in the NordicsUnder the new ownership, Grieg Logistics will continue to operate under the same name for a period and existing management headed by CEO Stig Trygve Andersen.Grieg Logistics operates terminals at Tønsberg, Mosjøen and Skålevik…
Blank Rome Welcomes Maritime Partner Luke Reid
Luke M. Reid has joined Blank Rome as a partner in the firm’s Maritime group and as a member of the Transportation industry team in the Boston office. A former U.S. Coast Guard officer, Reid advises clients in connection with all aspects of international and domestic maritime regulatory compliance, as well as representing maritime clients in connection with government investigations, criminal and civil litigation…
Fluid Watercraft Hires New Government Sales Manager
Commercial rigid inflatable boat builder Fluid Watercraft announced it has hired former marine patrol agent Blake Young as the newest member of its team, taking on government sales management for the U.S. Northeast and Mid-Atlantic regions.Having served as a police officer, deputy sheriff and maritime law enforcement agent developing a wealth of criminal justice experience, Young started his career…
Retired US Navy Admiral Arrested for Bribery
A retired U.S. Navy admiral and two business executives were arrested on criminal charges related to a bribery scheme involving a U.S. government contract.An indictment unsealed on May 31 alleges that from 2020 to 2022, Robert Burke—once the Navy’s second-highest-ranking officer—used his status to help the executives of New York-based workplace tech platform Next Jump win military contracts.Admiral Burke disputes the charge and plans to plead not guilt…
OPEC+ Extends Deep Oil Production Cuts into 2025
OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production.Brent crude oil prices LCOc1 have been trading near $80 per barrel in recent days, below what many OPEC+ members need to balance their budgets. Worries over slow demand growth in top oil importer China…
Deflating Mythology: New Book Unpacks the History Behind the Jones Act
The impacts of Section 27 of the Merchant Marine Act of 1920, today commonly referred to as the Jones Act, are often debated in maritime circles. But the well-known U.S. law, which requires vessels that transport goods between U.S. ports to be American-built, -flagged, -owned and -crewed, hasn’t always been a hot button issue, according to Charlie Papavizas, author of a new book on the subject, Journey to the Jones Act: U.S.
Japanese Whaler Says It's Not Planning to Hunt in Antarctic
The operator of Japan's first domestically-built whaling mothership in more than seven decades said on Thursday it had no plans to send the whaler to the Antarctic Ocean, although the new vessel is capable of reaching the region.The 7.5 billion yen ($48 million) Kangei Maru, whose construction was completed less than two months ago, has a cruising range of 7,000 nautical miles."This ship is designed to be able to go to the Antarctic Ocean.
Red Sea Diversions, Tariff Risks Send Ocean Shipping Soaring
Spiking ocean shipping rates, vessel backups at seaports and empty container shortages - issues that wreaked havoc on global trade during the COVID pandemic supply-chain crisis - are back as the industry enters its busy season."There is a cocktail of uncertainty and disruption across global ocean freight supply chains," said Peter Sand, chief analyst at pricing platform Xeneta."It is the speed and magnitude of this recent (rate) spike that has taken the market by surprise…
Maersk's Ammonia-fueled Box Ship Design Earns Approval in Principle
A. P. Møller-Mærsk's newly developed design for an ammonia-fuelled 3,500 TEU container vessel has earned approval in principle (AIP) from classification societies Lloyd’s Register (LR) and the American Bureau of Shipping (ABS).Led by the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, the design project also involved MAN Energy Solutions, Deltamarin, Eltronic FuelTech.“To unlock the potential of sustainable ammonia as an alternative…
First Korean-built Geophysical Exploration Vessel Commissioned
South Korea's first domestically built geophysical exploration research vessel was commissioned during a ceremony at Pohang Yeongilman Port on May 31.The 92-meter Tamhae 3 is a fully state-funded research vessel owned by the Korea Institute of Geoscience and Mineral Resources (KIGAM). The KRW 181 billion (US$132 million) newbuild replaces its 1996-built predecessor, Tamhae 2, for geophysical explorations in domestic and foreign waters…
Parts of River Rhine Closed to Shipping Due to High Waters
Parts of the river Rhine in southern Germany were closed to cargo shipping on Monday after heavy rains raised water levels, navigation authorities said.Rhine river shipping stopped around Maxau and Mannheim in south Germany, the German inland waterways navigation agency WSA said.The high levels of water leave vessels insufficient overhead space to sail under bridges, and prevents vessels sailing to Switzerland.Shipping on northern sections of the river is operating normally, including the import
Germany Aims to Order Two More Frigates
The German government wants to buy two further frigates provided parliament approves the deal, Defence Minister Boris Pistorius said on Monday, as part of a policy shift to bolster its defences after Russia's full-scale invasion of Ukraine.Speaking in the Baltic port of Wolgast at a keel-laying ceremony for the first of four F126 frigates already ordered, he said he had reached a deal with the finance…
