Iran's "Shadow" Vessel Fleet Hit with Fresh Sanctions
The United States imposed a fresh round of sanctions targeting Iran's oil industry on Monday, hitting more than 30 brokers, tanker operators, and shipping companies for their role in selling and transporting Iranian petroleum, the Treasury Department said.The announcement comes as U.S. President Donald Trump seeks to bring Iran's crude exports to zero to prevent the country from obtaining a nuclear weapon…
Mintra Acquires Moxie Media
Mintra, a provider of digital learning and workforce management solutions for the maritime and energy industries, acquired Moxie Media, a U.S.-based specialist in training content and media production for safety-critical sectors. This s enhances Mintra’s presence in the North American market and expandes Moxie Media’s access to Mintra’s learning technologies and global reach.As part of Mintra, Moxie Media will continue to operate independently, maintaining its team.
Wood Mackenzie Projects $73/Barrel in '25
According to its latest market outlook, Wood Mackenzie projects that Brent crude oil prices will average $73.00 per barrel (bbl) in 2025. The forecast considers geopolitical and economic factors, including potential peace talks between Russia and the US regarding the Ukraine conflict, ongoing tariffs, and sanctions against Iran.The outlook anticipates global oil demand to increase by 1.2 million barrels per day (b/d) in 2025, while non-OPEC production is expected to grow by 1.5 million b/d.
Ship Managers Propose Revisions to IMO’s Net-Zero Framework
Ship managers have expressed concerns about the International Maritime Organization’s future net-zero framework and have suggested concrete changes to make the proposals more effective.Acting on behalf of the global ship management sector, InterManager, the international association for ship managers, has submitted a proposal to the next meeting of the IMO’s Marine Environment Protection Committee (MEPC83) to suggest essential changes.The submission warns that…
Heinemann Solutions Expands with New Training Hall
Heinemann Solutions GmbH has officially opened its new site at Mukran Port in Sassnitz. In the modern training hall “Im Fährhafen 1”, practice-oriented safety training according to the standards of the Global Wind Organization (GWO) will be offered starting in March 2025. These include “Working at Heights” (Basic & Refresher), “Advanced Rescue Training,” “Fire Awareness” (Basic & Refresher), “Manual Handling…
NorthStandard, Core Power, LR Urge UK on Maritime Nuclear Power
Core Power, NorthStandard, and Lloyd’s Register (LR) jointly published Advanced Maritime Nuclear: A unique opportunity for the UK. The new paper sets out a policy framework for the UK Government to support the deployment of advanced small nuclear reactors on commercial ships and FNPPs. The report argues that the Department for Transport should include nuclear-powered shipping and FNPPs in an updated Clean Maritime Plan (CMP) and long-term nuclear strategy.In the foreword to the paper…
HFW Expands Global Shipping Practice
HFW - with a global shipping practice comprised of more than 220 lawyers - strengthened its shipping practice by hiring Master Mariner Mike Bunton.Bunton has almost 20 years of shipping experience and joins HFW in London from the UK Maritime and Coastguard Agency, where he was Head of Navigation. He previously held a variety of roles at TechnipFMC, including Vessel Master and Senior Chief Officer,…
REV Ocean Finds Ship Management Partner for New Expedition Vessel
V.Ships, part of V.Group, will partner up with REV Ocean to provide a suite of ship management services for the REV Ocean vessel, deemed the world’s largest and most advanced research and expedition ship.Currently at Vard Søviknes in Norway, the vessel will be equipped to conduct research across the entire marine ecosystem, using advanced technology systems.Scientists and other experts will use it for research expeditions…
ECOsubsea Scoops $6.2M Loan to Grow Hull-Cleaning Robot Fleet
Innovation Norway has awarded a hull-cleaning pioneer ECOsubsea a $6.2 million Green Growth Loan, which will be used to partially fund the construction of next-generation hull-cleaning robots.In addition to expanding its fleet of next-generation hull-cleaning robots, ECOsubsea will also use the funding to expand its operations in Singapore.The Austevoll-based company performed the first commercial cleaning job in Singapore in the autumn…
AD Ports Group Opens Al Faya Dry Port in Abu Dhabi
Abu Dhabi-based AD Ports Group has inaugurated a new, custom-bound inland dry port facility, enhancing the connectivity of Khalifa Port.Al Faya Dry Port, strategically located between Abu Dhabi and Dubai, will act as an Inland Container Depot (ICD) linked overland to Khalifa Port, offering a transit terminal for trucks and thus improving speed to market and more cost-efficient cargo handling operations…
Berg Efficiency Upgrade Bolsters Norwegian Operator's Cargo Ship Fuel Use
Norwegian shortsea shipping service provider Lighthouse Ship Management has achieved 33% reduction in fuel costs for one managed general cargo vessel coasters following the installation of a Berg propulsion retrofit package.The Torangsvåg-based fleet manager evaluated Berg’s options for optimizing energy use on board Terneskjaer, an 81m length 2,900 dwt general cargo ship owned by Bio Feeder.The project…
bound4blue Installs Wind-Assisted eSAILs on EPS’ Tanker
Spanish wind propulsion systems supplier bound4blue has installed its eSAIL wind assisted propulsion system on Pacific Sentinel tanker, owned by Eastern Pacific Shipping (EPS).Three 22-meter, DNV-Type Approved eSAILs were installed on the 50,000 dwt Pacific Sentinel in under a day per unit, as planned, bound4blue said.The installation occurred during a scheduled vessel drydock, with preparatory work…
EDGE and Fincantieri Deepen Partnership for Underwater Protection Solutions
EDGE and Fincantieri have signed a new memorandum of understanding (MoU), deepening their cooperation through joint venture Maestral, which will be focused on the design, development and creation of unmanned systems for critical underwater infrastructure protection and seabed mapping, next-generation submarines, drone-carrier ships, and lightweight torpedoes.The MoU is based on both companies collaborating to develop underwater technologies…
BS Offshore, Ulstein Verft Launch CSOV Newbuild (Photos)
Germany-based Bernhard Schulte Offshore (BS Offshore) and Ulstein Verft have launched a new Commissioning Service Operation Vessel (CSOV), the Yno 320.The launch followed an extensive outfitting phase that included the installation of electrical and mechanical systems, piping, accommodation, and system integration.The Yno 320 was towed from Ulstein Verft’s dock hall to the outer dock on February 20.While stationed in the outer dock…
Ukraine’s Dry Bulk Shipments Up 87% Three Years After Russian Invasion
“Three years after Russia’s invasion of Ukraine, the volume of dry bulk shipments from the two countries combined is 6% below pre-war levels. However, the past 12 months have seen the countries’ dry bulk shipments develop in complete opposite directions. While Ukraine has seen an 87% y/y jump in shipments, Russia’s have taken a 6% y/y fall. Overall, their combined volume has increased 3% y/y over the last 12 months…
ABS Sees Nuclear as ‘Generational Opportunity’ for US Shipbuilding
New nuclear reactor technology represents a once in a generation opportunity for U.S. industrial policy, as vessels propelled by advanced small modular reactors (SMR) could act as a catalyst for the revitalization of the country’s shipbuilding, according the Chairman and CEO of American Bureau of Shipping (ABS), Christopher J. Wiernicki.Wiernicki added he believes the next step is development of a marinized SMR demonstrator.“It is a key transformational technology.
Italy’s Saipem and Norway’s Subsea7 Merger to Create Energy Services Giant
Energy services firms Saipem and Subsea7 have reached an agreement on the key terms for possible merger of the two companies under one unit to be named Saipem7, whose combined backlog would be over $45 billion.Saipem and Subsea7 shareholders will own 50% each of the share capital of the combined company, whose revenue is expected to be around $20.9 billion, and core earnings in excess of $2 billion.Saipem7 will become a global organization of over 45…
Freight Rates Frustrate Recyclers
A recent and ongoing uptick in freight rates across many sectors (especially dry, as wet rates have been performing far admirably in comparison) has resumed depriving global ship recycling markets of tonnage over the last couple of weeks, reports cash buyer GMS.“This has promptly manifested itself at the various sub-continent waterfronts this week in both India and even Pakistan that has now returned to an empty port position once again…
Hundreds Arrested Over Illegal Wildlife and Forestry Trade
Nearly 20,000 live animals, all endangered or protected species, have been seized in a global operation against wildlife and forestry trafficking networks, jointly coordinated by INTERPOL and the World Customs Organization (WCO).Operation Thunder 2024 (November 11 – December 6) brought together police, customs, border control, forestry and wildlife officials from 138 countries and regions, marking…
Incorrect Valve Led to Deadly Engine Room Fire
The installation of an incorrect valve in a pipe to a diesel oil tank led to a fatal fire aboard a cargo vessel docked in LaPorte, Texas, an National Transportation Safety Board shows.On Jan. 8, 2024, a fire broke out in the engine room aboard the cargo vessel Stride during bunkering, or fueling, operations while docked at the Barbours Cut Marine Terminal. The fire self-extinguished after crewmembers shut down all ventilation to the engine room.
