Shipbuilder Chantier Naval Forillon in Gaspé, Quebec has received an order to build a new Near-Shore Fishery Research Vessel (NSFRV) for the Canadian Coast Guard.Expected to join the Canadian Coast Guard fleet as early as 2027, the new vessel…
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Intellian, Inmarsat Ink MOU to Develop Maritime Safety Terminal
Intellian Technologies and Inmarsat Maritime, a Viasat business, signed a Memorandum of Understanding (MOU) for the development of a next generation GMDSS safety terminal, designed for operation over Inmarsat’s ELERA L-band network.The new safety…
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Container Shippers in Store for Stormy 2024 – Xeneta
Supply chains around the world could be at serious risk amid expected increases in the cost of ocean freight shipping during 2024.Oslo-based Xeneta has carried out in-depth analysis of the latest ocean freight rates and branded the current market…
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Baltic Dry Index Falls on Muted Demand for Capesize Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a third straight session on Monday, pressured by weaker rates in the capesize segment.The overall index, which factors in rates for capesize,...
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Australia Says ‘Not Necessary’ to Cancel Chinese Firm’s Lease on Darwin Port
Australia said a security review of a 99-year lease held by Chinese company Landbridge on the northern port of Darwin, a key focus of its defense strategy, found it was "not necessary to vary or cancel the lease".In a statement, the prime minister's…
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40GW Potential: U.S. Regulator Seeks Public Input on Gulf of Maine Draft Wind Energy Area
The U.S. Bureau of Ocean Energy Management (BOEM) on Thursday identified a Draft Wind Energy Area (WEA) in the Gulf of Maine, opening a 30-day public review and comment period. The Draft WEA covers approximately 3,519,067 acres offshore Maine…
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Strait of Hormuz: The World’s Most Important Oil Artery
The Israel-Hamas war has raised the spectre of a wider regional conflict which could embroil Iran and other regional factions.Analysts and market observers say the conflict could prompt the United States to tighten sanctions on Iran, which may…
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ABB Flags Q4 Slowdown and China Challenges
ABB flagged a slowdown in revenue growth in the fourth quarter and reported a continued decline in orders in China, sending its shares lower even as the Swiss engineering group posted third-quarter earnings broadly in line with forecasts.The…
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Cavotec Wins €6.65 Million Shore Power Order
Cavotec reports it has signed a contract with one of the world’s largest shipping lines to supply shore power equipment for newbuild containerships.The €6.65 million order is for Cavotec’s PowerFit units, which are complete containerized solutions…...
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Finland Contacts China, Russia Regarding Baltic Sea Pipeline Probe
Finland's foreign ministry said on Friday it had contacted China and Russia via diplomatic channels regarding the investigation of damage to a pipeline and a telecoms cable in the Baltic Sea.Early on Oct. 8, a gas pipeline and a telecoms cable connecti...
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