Fincantieri points to Q3 production recovery in an unprecedented year
Posted On: 22-11-2020
Italian shipbuilder Fincantieri reported a 16% drop in revenues for the first nine months of 2020 reaching €3.53 billion, considerably impacted by the Covid-19 outbreak. The shipbuilder’s EBITDA stood at €200 million, down from €306 million reported in the same period in 2019, with an EBITDA margin of 5.7%, up from 5.0% first-semester margin (7.3% at September 30, 2019). The shortfall in E..readmore
Navig8, Doosan Fuel Cell to develop fuel cells for ships
Posted On: 22-11-2020
South Korean fuel cell developer Doosan Fuel Cell has signed a Memorandum of Understanding with Singaporean shipper Navig8 to develop fuel cells for ships. The move comes as the shipping sector embarks on a path to decarbonize in line with the ever more stringent regulations on greenhouse gas emissions. Under the cooperation plan, Doosan FuelCell will mount a solid oxide fuel cell (SOFC readmore
Volume recovery, cost-cutting measures help Hapag-Lloyd deliver strong results
Posted On: 24-11-2020
German container shipping major Hapag-Lloyd reported strong earnings in the first nine months of this year, benefitting from volume recovery in the third quarter combined with stable freight rates and low bunker prices. The best crossbow group's net income stood at $605 million in the first nine months of 2020, an increase of $272 million over the pr..readmore
UNCTAD warns of grim maritime trade outlook due to COVID-19
Posted On: 16-11-2020
Global maritime trade will plunge in 2020 due to the unprecedented disruption caused by COVID-19, the United Nations Conference on Trade and Development (UNCTAD) said in a new report. The report, entitled the Review of Maritime Transport 2020, warns that new waves of the pandemic that further disrupt supply chains and economies might cause a steeper decline and the short-term outlook for maritime ..readmore
Chinese firm wins deal for Wakashio’s stern removal
Posted On: 15-11-2020
Chinese rescue and salvage company Lianyungang Dali Underwater Engineering has won a contract to remove the stern section of the Wakashio bulker from a reef off Mauritius’ coast. The salvage firm is currently mobilizing assets and equipment and is scheduled to start work on the removal operation in late December. The work on the removal of the wreck’s stern is expected to complete in the sprin..readmore
Nexans Aurora launched in Norway
Posted On: 12-11-2020
Nexans saw its next-generation cable laying vessel the ‘Nexans Aurora’ launched at Ulstein on 8 November 2020. The vessel will be installing subsea cables, including cables connecting offshore wind farms to the grid and interconnectors. The hull arrived at Ulstein Verft on 15 June 2020 for the final outfitting, following its construction at CRIST, Poland. During this period, various work tasks..readmore
Pirates attack two tankers off West Africa
Posted On: 12-11-2020
The ships have been identified as the chemical/product tanker Torm Alexandra operated by Danish shipping company Torm and the oil tanker Wesley, controlled by UK's Union Maritime. The first incident saw pirates boarding the 56,643 cbm Torm Alexandra some 162 nautical miles south of Cotonou, Benin, while in transit from Lomé, Togo, the Gulf of Guinea, Dryad Global said. Following anti-piracy dr..readmore
Bahri becomes official carrier of Saudi Arabia’s Presidency of State Security
Posted On: 10-11-2020
Bahri, a national shipping carrier of Saudi Arabia, has signed a five-year framework agreement with Saudi Arabia’s Presidency of State Security (PSS), the country’s security body. Under the terms of the agreement, Bahri will serve as the official carrier for PSS and all its divisions. Worth SAR 300 million ($79.9 million), the deal seeks to provide various internal and external sea, air, and l..readmore
Port of Tyne sets up clean energy park
Posted On: 10-11-2020
The Port of Tyne has launched a new green energy park which will be used as a strategic base for UK North East’s renewable energy sector. The Tyne Clean Energy Park will provide infrastructure catering for all renewable energy production needs, with a total of 200ha of land soon to become available within its perimeters, Tyne port said. According to the port, the catalyst for setting up the park..readmore
Euronav tries to escape challenging freight rates by bringing forward dry dockings
Posted On: 09-11-2020
Belgium’s tanker shipping company Euronav has decided to bring forward dry dockings in order to counter the challenging freight rate market in the short term. As informed, a total of nine vessels are planned to enter a dry dock. “This flexibility allows 15% of Euronav’s fleet to execute its regulatory dry dock requirement during a depressed market whilst also providing the potential benefit ..readmore
Ten-year extension for FSO duo on Al-Shaheen field off Qatar
Posted On: 09-11-2020
A joint venture between Euronav and International Seaways has been awarded 10-year contract extensions for the FSO Asia and the FSO Africa for operations on the Al-Shaheen oil field off Qatar. The extensions are in direct continuation of current contractual service and will last until 21 July 2032 and 21 September 2032, respectively. The extensions were agreed with North Oil Company (NOC readmore
NYK takes full control of Green Zeebrugge LNG bunkering vessel
Posted On: 08-11-2020
Nippon Yusen Kaisha (NYK Line), said the Marine LNG Zeebrugge joint venture, set up to manage the Gas4Sea brand has been dissolved. To remind, the joint venture was established by NYK Line, Engie and Mitsubishi Corporation as an LNG bunkering unit. The partners additionally agreed to transfer all shares of the exclusive vessel holding company for the LNG bunkering vessel Engie Zeebrugge to NYK and..readmore
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MISC wins BV concept approvals for FSRU conversion
Posted On: 08-11-2020
MISC Berhad, a Malaysia-based provider of energy-related maritime solutions and services, has received concept approval certificates from the classification society Bureau Veritas for the floating storage and regasification unit (FSRU best crossbow broadheads) solution, converted from the company’s Puteri and Puteri Satu-class ..readmore
Heerema to wind down ‘no longer economically viable’ Angola business
Posted On: 06-11-2020
Dutch offshore contractor Heerema Marine Contractors has decided to close its joint ventures in Angola due to poor market conditions. In a statement on Friday, Heerema Marine Contractors said that the ongoing poor market conditions and sustained low oil price mean that the Heerema Angola Joint Ventures were no longer economically viable. Having explored possibilities for the future within Angola, ..readmore
AMSA: Cargo ship crew repatriated after 20 months spent on board
Posted On: 06-11-2020
Nine Chinese and Filipino seafarers, some of whom have been onboard their Panama-flagged cargo ship Brio Faith for 20 months with no leave, will be reunited with their families after an intervention by the Australian Maritime Safety Authority (AMSA tag heuer replica). As informed, AMSA inspected the ship in Port Alma, Queensland, on 2 November 2020 whe..readmore
ONE Aquila loses containers in rough seas
Posted On: 04-11-2020
Several containers have fallen overboard from a Panama-flagged containership in bad weather off the US coast. At the time of the incident, the 14,052 TEU ONE Aquila was en route to its next port call, the Port of Long Beach. The New Panamax boxship is operated by Singapore-based Ocean Network Express (ONE) and deployed in the Pacific South Loop 7 (PS7) service. Built in 2018, it is owned by Japane..readmore
Siemens Gamesa produces 500th offshore wind turbine nacelle in Cuxhaven
Posted On: 04-11-2020
Siemens Gamesa has produced the 500th nacelle for an offshore wind turbine at its manufacturing plant in Cuxhaven, Germany. The milestone was reached with a nacelle for the Hornsea Two offshore wind farm in the UK. The offshore nacelle manufacturing plant in Cuxhaven was opened in 2017 and regular operation started in the first months of the following year, when the global deliveries for the offsh..readmore
Next-gen SOV-gangway combo coming to market
Posted On: 03-11-2020
Spanish engineering company Marcelo Penna Engineering and the Dutch Safeway have joined forces to design an “intelligent” service operation vessel (SOV) combined with a motion-compensated offshore access system. The parties are developing the DP2 MP625 SOV combined with the recently introduced Safeway Gannet 3D motion-compensated offshore access system that features zero impact bumpering or ho..readmore
Excelerate completes fleet transfer to technical management unit
Posted On: 03-11-2020
Provider of floating storage and regasification units (FSRUs) Excelerate Energy has transitioned its entire fleet of FSRUs to one of its subsidiaries. Excelerate said on Monday that the FSRU fleet was transitioned to Excelerate Technical Management (ETM). Steven Kobos, president and chief executive officer (best fishing kayak CEO) of Excelerate ..readmore
Lloyd's Register launches Maritime Decarbonisation Hub
Posted On: 01-11-2020
Lloyd's Register [LR] has launched a dedicated center of excellence to accelerate the decarbonization of the world of shipping. The Maritime Decarbonisation Hub, a joint initiative between Lloyd’s Register Group and Foundation, brings together thought leaders and experts with the aim of helping the maritime industry design, develop, and commercialize the pathways to future fuels required for dec..readmore
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