The Baltic Exchange's main sea freight index rose on Friday to gain for a sixth consecutive week on stronger vessel rates across segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, gained 5...
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Eagle Bulk’s Scrubbers Investment Pays Off
U.S. shipowner Eagle Bulk's 2018 decision to outfit the majority of its dry bulk fleet with scrubbers has proven to be an environmentally sound and profitable decision, with an expected payback on investment by the end of 2022.The company's…
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Ship Designed to Collect Ocean Plastic and Convert It to Clean Hydrogen
An innovative ship is being designed to collect plastic waste from the world’s oceans and then convert it into clean hydrogen, allowing surplus hydrogen to be shipped back to shore.At least 14 million tons of plastic end up in the ocean every year…
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Tech File: Hillhouse Industrial Shaftmaster 6000
In business since 1984 and weathering the various economic and market ups and downs over the last 40 years, Hillhouse Industrial Marine Inc. have progressed to its current system: The Shaftmaster 6000, which provides shaft RPM, shaft horsepower…
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Ten Year Deal: Finland Charters Excelerate Energy’s FSRU
U.S.-based LNG company Excelerate Energy and a subsidiary of Gasgrid Finland, a Finnish state-owned natural gas transmission system operator, on Friday signed a ten-year deal in Helsinki for the charter of a floating storage and regasification vessel (...
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Econowind’s Wind-assisted Propulsion for Vertom’s Vessels
Dutch shipping firm Vertom has signed an agreement with Econowind, which provides wind-assisted propulsion solutions for seagoing ships, to install wind-assist VentiFoil units on Vertom's vessels.The Ventifoil has been described as a wing-shaped elemen...
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U.S. Preparing New Five-year Plan for Offshore Oil and Gas Auctions
The Biden administration will propose a new five-year plan for offshore oil and gas development by June 30, the date when the current plan expires, Interior Secretary Deb Haaland said on Thursday.The announcement comes as the administration…
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CIP Proposes to Build Hydrogen Island in Danish Dogger Bank Area
Copenhagen Infrastructure Partners (CIP) has proposed to construct an artificial island dedicated to large-scale production of green hydrogen from offshore wind – called "BrintØ" - in the Danish part of the North Sea. According to CIP, one of…
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Inpex Plans Maintenance at Australia’s Ichthys LNG from July 1 to Aug. 5
Japan's Inpex Corp plans to conduct scheduled maintenance at its Ichthys liquefied natural gas (LNG) plant in Darwin, Australia, from around July 1 to Aug.
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Ann Phillips Sworn In As MARAD Administrator
The U.S. Department of Transportation announced that Rear Admiral (Rear Adm.) Ann Phillips, USN, Ret., has been confirmed and sworn in as the 20th Administrator of the Maritime Administration (MARAD). Nominated by President Biden on October 21, 2021, R...
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