Japan-based Mitsui O.S.K. Lines, (MOL) and Taiwan-based Ta Tong Marine Co. have through their joint venture Ta San Shang Marine Co. Ltd. (TSSM), signed a deal with the Dutch shipbuilder Damen Shipyards for the construction of a new service operation v...
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Steerprop To Supply Bow Thrusters for Canada’s New Polar Icebreaker
Steerprop has been chosen to supply advanced ice-classed bow thrusters to the Canadian Coast Guard’s new Polar Icebreaker. The ship will be designed and built by Seaspan Shipyards as part of Canada’s National Shipbuilding Strategy.Steerprop…
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Coal Shipments to Advanced Economies Down 17%
“In the first 10 months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electricity produced using renewable energy rose. Also slowed economic activity and high energy prices affected e...
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Angad Banga Elected Chairman of the Hong Kong Shipowners Association
Angad Banga of The Caravel Group was elected Chairman of the Hong Kong Shipowners Association at the organization’s annual meeting held on November 22, 2023.Banga succeeds Wellington Koo, of Valles Steamship, who stepped down after completing…
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Petrobras to Invest $102 Billion in Next Five Years
Petrobras will invest around $102 billion within the 2024-2028 period, the firm's new strategic plan showed on Thursday.The plan, the first released by the oil giant since CEO Jean Paul Prates took the helm of the company, includes investments in a ran...
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Eni to Invest $10 Billion in Ivory Coast Baleine Field
Eni will invest $10 billion in the development of the Baleine field offshore Ivory Coast, which will take place in three phases from 2023 to 2027, Energy Minister Mamadou Sangafowa Coulibaly said on Thursday.The Baleine field, where certified reserves ...
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Maritime Craft Services Expands Workboat Fleet with Damen’s Multi Cat 2712
Damen Shipyards has delivered one of its Multi Cats to workboat specialist Maritime Craft Services (Clyde) Ltd. The 27-meter Multi Cat 2712 is a mid-range model in the 13-strong class and Damen builds them in series to meet the consistent demand for ve...
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Hapag-Lloyd CEO Optimistic that Shipping Markets will Rebalance
Global shipping markets, which are due to add more capacity than anticipated demand will support, have a good chance of rebalancing within two years, the chief executive of Germany's Hapag-Lloyd told reporters on Thursday."The gap between supply growth...
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Improving Propulsion Efficiency: Wärtsilä to Retrofit Ten Hafnia Tankers
Finland-based marine technology group Wärtsilä will supply its EnergoFlow and EnergoProFin solutions for ten Bird Class oil and chemical tankers owned by the Singapore-based global tanker operator Hafnia."The combination of the two Wärtsilä…
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Hanwha Ocean Lands $500M Deal to Build Four Very Large Ammonia Carriers
Hanwha Ocean has secured an order worth approximately $500 million to construct four very large ammonia carriers (VLACs) for Greek shipping company Naftomar Shipping and Trading Co. Ltd. Inc (Naftomar). Each VLAC will be able to transport 93…
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