The number of 15,000+ TEU ultra-large containership (ULCS) ordered reached record heights in March, reflecting the confidence of shipowners and investors amid continued strong demand in the container shipping sector.According to shipping organization BIMCO, the record-breaking 45 ULCSs and 27 additional "smaller" box ships ordered last month bring the total order capacity to 866,060 TEU
Suez Canal salvage teams intensified excavation and dredging on Sunday around a massive container ship blocking the busy waterway ahead of attempts to refloat it, with two sources saying work had been complicated by rock under the ship’s bow.Diggers were working to remove parts of the canal’s bank and expand dredging close to the ship’s bow to a depth of 18 meters
A containership blocking the Suez Canal like a "beached whale" may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade.The 400-meter Ever Given, almost as long as the Empire State Building is high
The Suez Canal temporarily suspended traffic on Thursday as efforts to dislodge a 400 m (430 yard) long container vessel that has blocked the waterway continued for a third day, with eight tugs working to straighten the ship.The Ever Given vessel, almost as long as the Empire State Building is high
When leadership at the White House changes parties, you can expect a shift in priorities and policies. In one case, however, continuity is welcome, as President Biden has voiced his support for Buy American and the Jones Act, which are especially beneficial to the maritime and dredging industries.Read the March 2021 edition of Maritime Reporter & Engineering News, an edition dominated by dredging.
The Baltic Exchange's main sea freight index on Wednesday climbed to a near 1-1/2-year high as panamax rates scaled a more than 10-year peak on China grain demand.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, rose 88 points, or 4.4%, to 2,105, a peak since September 2019.The panamax index gained 211 points, or 8.
Offshore drilling company Valaris, the world's largest by fleet size, has received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged plan of reorganization, and has agreed with Korea's Daewoo to delay deliveries of two newbuild drillships.
Singapore's Keppel Offshore & Marine, a company famous for its offshore rig construction, is set to undergo a major transformation, look for opportunities as a developer and integrator of offshore energy and infrastructure assets, and exit the offshore rig building business.The company will be restructured into three parts
Amazon seller Bernie Thompson shifted half of his production out of China to reduce his business risks and still found himself in the crosshairs of logistical chaos besetting the movement of goods around the globe.A surge in demand for furniture, exercise equipment and other goods for shoppers sheltering at home in a worsening COVID-19 pandemic has upended normal trade flows.
BIMCO notes stunning comeback to Q2 agricultural exports nearly triple freight ratesAs agricultural dry bulk commodities exports took a dive in the first quarter of this year and painted a gloomy picture for Panamax and Handymax freight rates, a stunning second quarter comeback have nearly tripled freight rates.
The sulfur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the center stage in the shipping industry at outset of the new decade. Four months on, the spotlights have turned to the coronavirus and the OPEC+ oil price war.The outlook for global economic growth remains bleak as the world is faced with the largest recession since the Great
Dredging contractor Weeks Marine has ordered a new trailer suction hopper dredger from Eastern Shipbuilding Group, to be delivered in the first quarter of 2023.The new dredge, RB Weeks, to be constructed at Eastern's Allanton shipyard in Panama City, Fla. will be a sister ship to the Eastern-built twin screw TSHD Magdalen placed into service in 2018.