US Coast Guard Interdicts Suspected Smuggling Vessel off San Diego
Crewmembers aboard the Coast Guard Cutter Terrell Horne (WPC 1131), with support from the USS Spruance (DDG 111) and Department of Homeland Security partners interdicted a suspected maritime smuggling vessel carrying eight Mexican nationals approximately 27 miles west of San Diego, on Saturday.At approximately 11 p.m. Friday, a CBP Air and Marine Operations (AMO) aircraft detected an estimated 40-foot…
Russian Court Lifts Suspension on Transneft Oil Berth
A Russian court overturned on Monday a decision by a regulator to suspend the operation of an oil berth at the Black Sea port of Novorossiisk controlled by Transneft, an industry source told Reuters.Transneft said last week it had suspended mooring number 8 at Novorossiisk for 90 days after a snap inspection by a transport watchdog.The Novorossiisk Commercial Sea Port (NCSP) is one of Russia's largest…
Stillstrom and Panama Canal to Explore Offshore Charging Technology
Stillstrom by Maersk and the Panama Canal Authority (ACP) have signed a Memorandum of Understanding (MOU) to explore the implementation of Stillstrom’s offshore charging technology to reduce emissions from vessels idling in and around the Panama Canal.Handling approximately 14,000 vessels annually, the Panama Canal is a critical artery of global commerce. The Canal’s strategic position makes it a focal point for maritime sustainability…
ZIM: New Long-Term Chartering Agreements for Ten 11,500 TEU LNG Dual-Fueled Vessels
ZIM Integrated Shipping Services Ltd. announced new agreements for the long-term charter of ten 11,500 TEU liquefied natural gas (LNG) dual-fuel container vessels, with total charter hire consideration of approximately $2.3 billion to serve across ZIM's various global trades.Seven of the vessels will be chartered to ZIM by Containers Ventures Holdings Inc., an affiliate of the TMS Group, and three will be chartered to ZIM by a shipping company that is affiliated with Kenon Holdings…
Huntington Ingalls, HD Hyundai Heavy Industries Form Shipbuilding Alliance
U.S.-based military shipbuilder Huntington Ingalls and HD Hyundai Heavy Industries (HHI) have signed a memorandum of understanding (MoU) today to explore opportunities to collaborate on accelerating ship production in support of defense and commercial shipbuilding projects.This strategic partnership aims to leverage the combined expertise and resources of both companies to advance technological innovation…
Fincantieri to Build Two Cruise Ships for Carnival’s AIDA Cruises
Fincantieri has signed an agreement with Carnival Corporation, valued over $2 billion, for the design and construction of two new cruise ships for AIDA Cruises.This marks the first time that Fincantieri will build cruise ships for AIDA Cruises, thus reinforcing its strategic partnership with Carnival Corporation.The units are scheduled for delivery in early 2030 and late 2031. Each will feature approximately 2…
New Zealand Ups Defense Spending to 2% of GDP
New Zealand said on Monday it would boost defense spending by NZ$9 billion ($5 billion) over the next four years, and aim to nearly double spending to 2% as a share of GDP in the next eight years, at a time of rapidly growing tension worldwide.The details came in remarks by Prime Minister Christopher Luxon, who called for more spending on defense to ensure prosperity."New Zealand and our allies and partners across the world are no longer in a benign environment…
NYK Orders Dual-fuel Methanol VLCC
On April 4, NYK concluded a contract for the construction and charter of a very large crude oil carrier (VLCC) equipped with a dual-fuel methanol main engine, a first for the NYK VLCC fleet.The vessel, which will feature a large shaft generator, will be constructed by Nippon Shipyard and engaged in a long-term charter for Idemitsu Tanker.The Malaccamax VLCC was designed in collaboration with Idemitsu Tanker…
Meyer Turku Reports 2024 Financial Turnaround
Finland's Meyer Turku Group's financial result for 2024 has been published, with the company reporting a turnover of 1.80 billion euros ($2 billion) which marks a growth of 28% compared to the previous year.The net profit for the financial year 2024 was 68.9 million euros ($76 million) 3.8% of the turnover.“We have now seen the anticipated turnaround and today have a healthy order backlog. Reaching this result also supports us in our ongoing negotiations for future financing…
Ship Recycling Activity Drops
The global ship recycling sector witnessed some interesting activity last week as local steel plate prices continued to climb in India, fall in China and flatline in Bangladesh and Pakistan, reports cash buyer GMS.Recycling activity has been picking up in sub-continent markets over the last few weeks as the number of deliveries greatly improved of late, but this week has seen the various waterfronts take a beating with no fresh arrivals in Bangladesh…
G7 Says China's Drills Around Taiwan are Destabilizing
Foreign ministers from the G7 nations called China's recent military drills around Taiwan provocative and destabilizing while urging dialogue for "peaceful resolution of issues.""These increasingly frequent and destabilizing activities are raising cross-Strait tensions and put at risk global security and prosperity," the top diplomats from Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America said in a joint statement on Sunday."G7 members continue to encoura
Well-to-Wake: Scrubbers Beat HFO on Environmental Performance
Researchers from MIT and Georgia Tech have concluded that burning heavy fuel oil with scrubbers in the open ocean can match or surpass using low-sulfur fuels when a wide variety of environmental factors is considered.The scientists combined data on the production and operation of scrubbers and fuels with emissions measurements taken onboard a bulk carrier owned by Oldendorff Carriers. Gaseous and particulate matter (PM) emissions data were collected while the bulk carrier was burning 3%S HFO…
CMA CGM to Use AI to Boost Productivity
Shipping giant CMA CGM and tech startup Mistral AI expect rapid productivity gains from a 100 million euro ($110 million) partnership unveiled on Sunday, which the French firms also touted as a commitment to their home country amid the global trade tensions.The five-year partnership, which will bring CMA CGM's AI-related spending to 500 million euros ($550 million), will focus on customer service in…
Panama Canal to Seek Bids for Pipeline Development
The Panama Canal Board of Directors has authorized the opening of a bidding process for the development of a new pipeline for the transfer of energy products which will complement operations in the interoceanic waterway.The pipeline will be incorporated into the development of the Panama Canal's West Bank route, which includes activities and alternatives to transporting products by sea.It will strengthen…
Steel Cut for USACE Eco Dredger
Eastern Shipbuilding Group (ESG) has officially begun construction on the U.S. Army Corps of Engineers' (USACE) new medium class hopper dredger with a ceremonial steel-cutting event.The vessel is being built at ESG's Allanton and Port St. Joe facilities and is scheduled for delivery in 2027.ESG is collaborating with Royal IHC on the design.USACE's new hopper dredger will be able to load up to 15% more efficiently…
Dry Bulk to Suffer Under China Tariffs
On Friday, China announced a tariff increase of 34% on all US imports, in retaliation to the new tariffs announced by US President Donald Trump. These are in addition to tariffs implemented in February and March, focusing on goods such as grains, coal, LNG and crude oil.In 2024, China was the third largest importer of US exports (measured by value), accounting for 7% of US exports. Chemicals, computer and electronic products…
US Offshore Wind Projects Slow
Energy firms have slowed construction of offshore wind farms in the U.S. for various reasons in recent years, including, most recently, opposition from U.S. President Donald Trump's administration.Offshore wind was a key pillar of former President Joe Biden's promise that fighting climate change will create jobs and invigorate the economy. In 2023 and 2024, however, several offshore wind companies took billions in write-offs…
St. Johns Ship Building Inks Contract to Build Trio of Vessels for $17m
St. Johns Ship Building was awarded two contracts with a cumulative total of about $17 million. The projects include the construction of a Crew Transfer Vessel (CTV) and two aluminum cruise vessels.
Asian Spot LNG Prices Remain at Six Month Low
Asian spot liquefied natural gas (LNG) prices remained at their lowest level in nearly six months on Friday as U.S. President Trump's "liberation day" tariffs pulled global markets down amid fears of a global recession.The average LNG price for May delivery into north-east Asia LNG-AS remained unchanged from last week at $13.00 per million British thermal units (mmBtu), the lowest level since October 11…
Port of Albany Releases RFEI for Beacon Island Expansion Project
The Port of Albany has issued a Request For Expressions of Interest (RFEI) to assess market interest and commercial potential for the Port of Albany’s Beacon Island expansion site at 340 River Road, Glenmont, NY.The Port is looking for a range of development proposals that may include, but are not limited to:Industrial and maritime uses that enhance trade, logistics, and manufacturing capacityEmerging…
