Artificial intelligence (AI) is set to revolutionize shipping by enhancing safety and efficiency, Christopher J. Wiernicki, ABS Chairman and CEO, said, while also noting the growing importance of the human touch in this high-tech era.“Maritime 5.0 will be defined by the ever-expanding capabilities of artificial intelligence, driving our complex industry to be safer
Philly Shipyard on Monday held a steel-cutting ceremony to signal the start of construction on the first of three new Aloha Class liquefied natural gas (LNG)-fueled containerships to be built for U.S. ocean carrier Matson. Matson placed the $1 billion three-ship order with Philly Shipyard in 2022 following the deliveries of Aloha-class vessels Daniel K.
Taiwanese shipping firm Yang Ming Marine Transport Corp said one of its cargo ships caught fire on Friday at China's Ningbo-Zhoushan Port, one of the world's busiest.Earlier, Chinese state media said an explosion was reported at the port and shockwaves were felt a kilometer away.Yang Ming Marine Transport said a fire occurred on board the YM Mobility while it was operating in the port.
Yemen's Houthis said on Sunday that they had attacked two civilian ships along with an American destroyer in the Red Sea and Arabian Sea, their latest effort to disrupt shipping in what they say is support for Palestinians in Gaza.In a statement, the Houthi military spokesperson, Yahya Saree, said the militant group fired ballistic missiles at the American destroyer
Maritime software company ABS Wavesight on Tuesday announced major updates to its My Digital Fleet software aimed at empowering maritime operators to optimize performance, improve energy efficiency and streamline compliance with decarbonization requirements.The ABS Affiliate maritime software-as-a-service (SaaS) company unveield the updates at the Posidonia trade fair in Athens.
Star Bulk Carriers Corp. on Tuesday announced that it has completed its merger with fellow dry bulk shipping company Eagle Bulk Shipping Inc.Eagle Bulk shareholders this week voted to approve the $2.1 billion deal, which was first announced in December 2023.Under the terms of the merger agreement, each Eagle shareholder received 2.
At least 94 people died, including children, and 26 are missing after a ferry boat capsized off the northern coast of Mozambique, an official from the country's Maritime Transport Institute (INTRASMAR) said.The vessel was an overloaded fishing boat and was not licensed to transport people, Lourenco Machado, an administrator of INSTRASMAR, said on state television on Monday.
Australian shipbuilder Austal said on Tuesday it had rejected an A$1.02 billion ($662 million) takeover offer from South Korea's Hanwha Ocean as it was unlikely to be approved by Australian and U.S. regulators due to the sensitivity of its operations.The Western Australia-based firm said it had received a bid at A$2.825 per share, representing a premium of 28.4% to Austal's last closing price.
ABS chairman and CEO, Christopher J. Wiernicki, said he sees a universal, global carbon tax on shipping on the horizon, as alternative blue fuels made with carbon capture emerge as a growing part of the maritime industry's ongoing energy transition.“We need to recognize that there is an intermediate step in the energy transition
Attacks on merchant vessels in the Red Sea have delayed cargo and sent shipping costs higher, but soft demand and ample ship availability are muting the impact on inflation, analysts from Moody's Investor Service said on Thursday.Ships carrying everything from furniture and apparel to food and fuel are being diverted away from the nearby Suez Canal trade shortcut to the longer and more expensive
Twelve mariners were rescued after a small cargo vessel capsized near the Dominican Republic.Carnival Corp said the crew aboard its cruise ship Carnival Vista rescued six from the water early Wednesday morning after the cargo vessel Two Brothers capsized about 30 miles north of Puerto Plata overnight.
Denmark, France, Germany, Sweden and the Netherlands have signed the Aalborg Declaration that aims at joint European cooperation on CO2 capture, use and storage (CCUS).CO2 capture, use and storage must be scaled up, both nationally and at European level, the countries agreed at the signing which occurred at the EU's CCUS Forum this week, hosted in Aalborg, Denmark.