The days of picking and choosing from a range of bunker fuels at ports are disappearing as geopolitics cause oil flows to shift, meaning shippers must plan more carefully ahead to ensure they can buy the fuel they need, an official at TFG Marine said. Russia has been a key provider of 3.5% (high) sulfur fuel oil but following sanctions…
PUBLISHED AUG 4, 2023 3:15 PM BY THE MARITIME EXECUTIVE Concordia Maritime has entered into a sale agreement for two more of its product tankers, essentially completing the sale of its entire fleet in the past 18 months as it sought to work down debt. The company has one remaining product tanker which is on long-term charter after having sold…
PUBLISHED AUG 3, 2023 5:21 PM BY THE MARITIME EXECUTIVE Mitsui O.S.K. Lines working with its partners at Kyushu University and Taiyo Sangyo Co. is moving forward with the next phase of their Wind Hunter Project, a concept to create a zero-emission ship using wind power and producing hydrogen from seawater. The project will move forward on the development of…
China completed the float out of its first 700 TEU pure power containership. The vessel, which is being built for COSCO Shipping Heavy Industry, is part of an effort to use electric-powered vessels throughout the Yangtze region. It is the first of two river containerships being built for the operation. The ship was floated at the shipyard in Yangzhou on…
Maersk continues to forge ahead with efforts to develop methanol as an alternative fuel to support the maritime industry’s transition. The shipping company is supporting the development of a large green methanol production facility in Central Louisiana while in Singapore they completed the port’s first-ever ship-to-ship methanol bunkering operation. With its maiden voyage underway, the first containership fueled by methanol…
AMSTERDAM, July 28 (Reuters) – The car carrier burning off the Dutch coast since Tuesday night is carrying nearly 500 electric vehicles, ship charter company “K” Line said on Friday, significantly more than the 25 initially reported by the coastguard. The fire on the Panamanian-registered Fremantle Highway, which was carrying new cars, resulted in the death of an Indian crew…
The world’s largest containership was named the “MSC MICHEL CAPPELLINI” in a ceremony held on July 17th. The event took place at the Stromkaje Terminal in BREMERHAVEN, where an additional Memorandum of Understanding (MoU) was signed to enhance cooperation on the use of shore power for MSC ships at the port. China’s Jiangsu Yangzi Xinfu constructed this impressive vessel for…
The IMO Council has voted to appoint Mr. Arsenio Antonio Dominguez Velasco of the Republic of Panama, for an initial four-year term, as the next Secretary-General, as of 1 January 2024, subject to the IMO Assembly’s approval.
Companies are looking to use the advancements in remote operation and uncrewed vessel technologies to increase capabilities and reduce the economic and safety risks in a range of tasks require for offshore wind farm development and other subsea tasks. A Norwegian joint venture company, USV, established by DeepOcean, Solstad Offshore, and Østensjø, has contracted for its first unmanned surface vessel…
The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a fourth straight session on Wednesday, pressured by lower rates for larger capesize and panamax vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 33 points, or 3.2%, to 1,004. The capesize index went…