Top News

  • ADNOC group CEO named top oil and gas chief globally for brand stewardship

    Abu Dhabi National Oil Company's (Adnoc) group chief executive was named the top oil and gas executive globally for brand stewardship by London-based consultancy Brand Finance.

  • Breakbulk Middle East 2021 set to go the digital route this year

    Breakbulk Middle East (BBME), the GCC’s leading breakbulk and project cargo event, held under the patronage of The UAE Ministry of Energy and Infrastructure, will be presented digitally this year. Titled Breakbulk Middle East Digital Special, the new version of the much-awaited event, will take place on February 9-10, 2021. The next in-person event is scheduled for February 2-3, 2022 in Dubai with DP World, UAE Region as the Host Port.

  • UAE non-oil trade volume to increase 12.9% this year

    Non-oil trade volume in the UAE could grow by up to 12.9 percent this year compared to 2020, according to the latest information from Dubai Chamber of Commerce and Industry.

  • JAFZA joins forces with Star-K Kosher to promote production of Kosher-certified food in Dubai

    DP World, UAE Region’s flagship free zone, Jebel Ali Free Zone (Jafza) signed a Memorandum of Understanding (MoU) with UAE-based STAR-K Kosher Certification to educate its partners in the food and agricultural commodities sector about kosher certification, aiding them to get certified as kosher. The MoU was signed by Ahmad Al Haddad, Chief Operating Officer, Parks and Zones, DP World, UAE Region and Rabbi Ahron Haskel, President, STAR-K Kosher Certification in the Middle East, Europe and Africa, in the presence of Rabbi Yanki Hoffman, Vice President, STAR-K Kosher Certification in the Middle East, Europe and Africa.
     

  • Dubai Customs kicks off UAE Customs Week activities with WCO and FCA participation

    Dubai Customs kicked off its program of activities as part of the 4th UAE Customs Week 2021 running from January 24-28 under the theme, ‘Dubai Customs: Sustainable Operations’. A virtual opening ceremony was held with the presence of Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Group and Chairman of Ports, Customs and Free Zone Corporation (PCFC); Dr.Kunio Mikuriya, Secretary General of the World Customs Organization, Ahmed Abdullah Bin Lahej, Director General of the Federal Customs Authority; Ahmed Mahboob Musabih, Director General of Dubai Customs; Sheikh Mohammed bin Abdullah Al Nuaimi, Chairman of Ajman Ports and Customs Department; Mohammed Mir Abdul Rahman Al Sarah, Director General of Sharjah Seaports and Customs Department; alongside officials from the Abu Dhabi General Administration of Customs and other local customs administrations, and delegates from Saudi and Bahraini Customs  as well as the WCO’s Regional Intelligence Liaison Office (RILO). 

Classification

  • DNV GL awards AIP to KSOE for wing sail propulsion system

    DNV GL has awarded an Approval in Principle (AIP) to Korea Shipbuilding and Offshore Engineering (KSOE) for a wing-sail auxiliary propulsion system for ships - the result of a joint research project between KSOE and SK Shipping. The virtual award ceremony recently took place in the presence of Hyunjoon Shin, Head of the Future Ship Research Department of KSOE, Haeyong Son, Vice President of SK Shipping, and Sung Ho Shin, Key Account Manager of DNV GL Korea.

  • Iranian VLCC busted for STS transfer off Indonesia

    Indonesian maritime authorities have detained an Iranian tanker and a Chinese-operated VLCC for conducting an ship-to-ship transfer in a prohibited area. The two vessels were operating dark without AIS, and they did not respond to radio calls, according Indonesia's coast guard. 

  • IAPH and World Bank call for acceleration of maritime digitalization

    The World Bank joined with the International Association of Ports and Harbors (IAPH) calling for efforts to accelerate the digitalization of the global maritime industry. Hosting a webinar to launch their new report on digitalization, the organizations expressed their belief that digitalizing the sector would bring wide-ranging economic benefits and contribute to a stronger, more sustainable recovery.

Insurance

Oil & Gas

  • MoU on Dostluk oil & gas field is new milestone in dev’...

    The memorandum of understanding inked on Dostluk oil and gas field in the Caspian Sea is a new milestone in the development of relations between Azerbaijan and Turkmenistan, Ibrahim Ahmadov, deputy head of the public relations and events department at SOCAR, told Trend.

  • DHT Holdings, Inc. announces acquisition of two VLCCs

    DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announced that it has entered into agreement to acquire two VLCCs built in 2016 at DSME (Daewoo) for a total of USD 136 million. The vessels are scheduled to deliver during the first half 2021. The Company will finance the acquisition with available liquidity and projected mortgage debt hence it is expected to be accretive to DHT’s earnings per share. The vessels were built to high specifications by their current owner and are fuel efficient, scrubber fitted Eco-designs that will further improve the DHT fleet’s efficiencies, amongst others its Annual Efficiency Ratio (AER) and Energy Efficiency Operational Index (EEOI) metrics.

     

  • Korean shipbuilders jumping into offshore wind power...

    Korea’s three major shipbuilders — Korea Shipbuilding & Offshore Engineering (KSOE), Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) — are jumping into the offshore wind power business. As the government is pushing for Green New Deal projects, they are seeking to get a piece of the action.

  • UAE reinforces its commitment to sustainable development in...

    The United Arab Emirates (UAE) is reinforcing its commitment to sustainable development in global post-Covid economic recovery according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and UAE’s special envoy for Climate Change and Chairman of Masdar.

  • Equinor studying drone use in offshore oil and gas...

    Norwegian drone company Nordic Unmanned has signed a contract with energy giant Equinor to conduct a study on how Remotely Piloted Aircraft Systems (RPAS) could be used in offshore airspace between installations and vessels, in search and rescue (SAR) operations, to and from
    shore travel, and more.

  • Dana taps KenzFigee for lifting services on two FPSOs

    Dutch offshore lifting equipment company KenzFigee has secured a five-year deal to provide lifting services for Dana Petroleum North Sea FPSOs.

Ports

Finance

  • Hess announces 2021 E&P capital and exploratory budget

    Hess today announced a 2021 Exploration & Production capital and exploratory budget of $1.9 billion, of which more than 80% will be allocated to Guyana and the Bakken.

  • MARAD will grant $19.6 Million to improve America's small shipyards

    The U.S. Department of Transportation’s Maritime Administration announced the availability of $19.6 million in funding to small shipyards through the Small Shipyard Grant Program. The program is designed to support efficiency improvements and modernizations that allow U.S. shipyards to compete more effectively in the global marketplace. 

  • Tankers: VLCC market weakens even more this week

    The market weakened even further this week with rates dropping and the timecharter equivalent for the main front haul voyages heading towards, if not actually realising, negative returns. In the Middle East 280,000mt to US Gulf via the Cape/Cape routing is assessed another point down at WS18, whilst 270,000mt to China is rated a further four points lower than last week at just below WS30 (which translates into a timecharter equivalent of -$800/day). In the Atlantic, rates for 260,000mt West Africa to China fell two points this week to WS31 (about $1,650 per day). For voyages of 270,000mt US Gulf to China the market dropped another $100k to just below $4.2m, which corresponds to daily earnings of about $8,000/day basis a round voyage.

Shipping

  • Bulk carrier MV Eurosun refloated in high tide:...

    MV Eurosun, a Liberian flagged vessel, which ran aground in shallows 5.5 nautical miles (10 kilometres) off Sri Lanka’s southern coast had refloated in high tide, the Indian Ocean island’s navy said.

  • Preparations for third Golden Ray Cut continue

    Salvors are still conducting preparations for the third chain cut through the hull of the wrecked ro/ro Golden Ray. 

     

  • Maersk Essen diverting to Mexico after container...

    The Maersk containership that suffered a significant container loss In the Pacific while sailing toward Los Angeles is now diverting south to Mexico. The 13,100 TEU Maersk Essen is expected to arrive on January 29 in the port of Lazaro Cardenas, Mexico as a port of refuge for cargo operations. 

  • Delays are growing with increasing reports of...

    For months, shippers, ports, and carriers have all highlighted the challenges they faced in response to the surge in container shipping volumes during the second half of 2020. Data analytics firm Ocean Insights released new data highlighting just how extensive the delays have been, which ports and carriers are experiencing under capacity, and a timeline of market volatility.

  • Svitzer orders new tug for Port of London

    Damen Shipyards Group said it has signed a contract with Svitzer for the delivery of an ASD Tug 3212. The vessel, to be named Svitzer Thames, will operate in the Port of London and will be the fourth Damen ASD Tug 3212 in the company’s U.K. fleet.

Legal & Regulations

Environment

  • ABB to provide Azipod® electric propulsion for eco-friendly superyacht

    Debut contract with Dutch luxury yacht builder Oceanco on Azipod® technology installation project paves the way for broader cooperation on sustainable electric propulsion in a market expected to exceed $10 billion by 2025

     
     
     

  • Facing green push on farm, fertilizer makers look to sea for growth

    Two of the world’s biggest fertilizer producers, CF Industries Holdings Inc and Yara International Asa, are seeking to cash in on the green energy transition by reconfiguring ammonia plants in the United States and Norway to produce clean energy to power ships.

  • Hamburg power plant to be converted into mega-electrolyser for green hydrogen

    The companies Vattenfall, Shell, Mitsubishi Heavy Industries (MHI) and Hamburg’s municipal heat supplier Hamburg Wärme are planning to build one of the world’s largest electrolysers in the Port of Hamburg. The new electrolyser is to have a capacity of 100 megawatts and be built on the site of the former Moorburg coal-fired power plant. The four companies have now signed a Letter of Intent to this end.

Education

  • Ocean Technologies Group introduces...

    Having brought together market leading maritime learning businesses Seagull and Videotel, Ocean Technologies Group (OTG) set its newly united team the challenge to work throughout 2020 on combining the strengths of these businesses into a new state-of-the-art Ocean Learning Platform.

  • MARAD gives the green light for third and fourth...

    The U.S. Department of Transportation's Maritime Administration (MARAD) gave the green light for the next two hulls in the National Security Multi-Mission Vessel (NSMV) training ship series. They will replace aging training vessels at Maine Maritime Academy and Texas A&M. 

  • New Orleans Military and Maritime Academy...

    For the fifth time, the New Orleans Military and Maritime Academy has been recognized as a Naval Honor School, a national recognition reserved for the top 20 percent of the 60-plus Marine Corps Junior Reserve Officer Training Corps programs in its region.

  • Chris-Marine provides remote training and 24/7...

    The virus has had a severe impact on the way we live and work and travel restrictions have made it difficult to get access to equipment and engine maintenance experts when needed.

  • Seably takes next step into blended maritime...

    The maritime industry has taken a further step into online and blended training with the appointment of Andrea Lodolo as the new CEO of Seably – the marketplace for maritime training. The online platform has already reached more than 20,000 maritime professionals. Andrea Lodolo replaces Tomas Lindberg, who steps up to become Seably’s new President.

Women in Maritime

Techonology

Dredging

  • Cashman Dredging announces design contract to...

    Cashman Dredging and Marine Contracting Co., Quincy, Mass., announced the execution of a design contract with IHC America Inc. for a new 6,500 cubic yard trailing suction hopper dredge. The new vessel will complement Cashman Dredging’s current fleet of specialized dredging equipment and will primarily service the coastal protection and navigation maintenance markets when it enters service in 2024. (No other specifications, equipment or equipment manufacturers were announced.)

     

     

  • Dredging industry looks for a revival in...

    Despite sluggish returns in 2020 due to unprecedented COVID-19 outbreak, the global dredging market is expected to report 3.3% YOY growth in 2021, a significant improvement over 3.5% y-o-y exhibited in 2020, finds Fact MR in a new study. The overall growth outlook remains positive, especially as applications in trade activity, maintenance, and urban development among others continue to rise. The market will vastly gain with demand in government sector rising. Fact MR in a new study has forecast government to account for over 43% of overall share through 2031.

  • Chinese dredging company sees real value in...

    The technology group Wärtsilä has signed a 5-year long-term service agreement with Nanjing Changjiang Waterway Engineering, a leading Chinese dredging company. The agreement, signed in December 2020, covers the ‘Chang Jing 9’, a 13,800 cubic metre trailing suction dredger and the latest addition to the company’s fleet.

  • Klaipeda State Seaport Authority signs contract...

    Klaipeda State Seaport Authority says it has signed the contract for the dredging works of the shipping canal up to 15 meters. The European Union assigned 17.3 million euros to implement the project. The works will be performed by the Danish company Rohde Nielsen A/S. It is not the first big project implemented by the Danes in Klaipeda Port – Rohde Nielsen A/S was deepening and improving the call canal in 2011-2013. It is the world-known dredging company that has implemented large products in Denmark, Brazil and Australia in the recent years.

  • Bigger, stronger: The U.S. dredging fleet is...

    The U.S. dredging fleet is growing. Presently on order and under construction is a raft of in-demand equipment that will help to keep America’s ports and waterways open, safeguard coastal communities and maintain the vital flow of maritime commerce to, from and through the U.S.

OFFSHORE

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