The Baltic Exchange's main sea freight index soared to its highest in 11 years on Thursday as rates across all vessel segments were lifted by strong demand for dry bulk commodities.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, added 91 points, or 2.9%, to 3,267, its highest level since June 2010.
The U.S. Army Corps of Engineers (USACE) is evaluating remote operation of locks within the U.S. inland waterways system. Timetables are hazy, but the Corps plans to include remote operations capabilities during rehabilitations or new construction, in the work planned, for example, in the Upper Ohio Navigation Project, part of the USACE’s Pittsburgh District.
There is an old adage that states that a repair yard can economically build new ships, but a new construction yard should never touch ship repair jobs. In my experience there is a lot of truth to that statement, and it does not mean that new construction yards are run by less capable people; it simply means that ship construction and ship repair and conversion are fundamentally different
Wilson Sons is the largest integrated port and maritime logistics operator in Brazil, operating more than 80 workboats. Marcio Castro, Executive Director Tugboat Division, discusses with Maritime Reporter the size, shape & technical direction of the fleet.Mr. Castro, to start, how did you come to a career in maritime?I graduated in System Engineering at Rio de Janeiro State University (UERJ)
Due to economic necessity, commercial ship operators have become increasingly focused on finding cost-optimized solutions to operate their vessels. In turn, power solutions providers like Rolls-Royce have been dedicated to finding ways to deliver the right technologies that will meet an operator’s specific requirements.
In response to the worldwide COVID-19 pandemic, the Congressional Research Service released a report that stated global economic growth has declined by 3% to 6% in 2020 with a partial recovery predicted for 2021. Also, the GDP of the U.S. has fallen by 5% in the first quarter 2020.
Capesize dry bulk earnings break record on the back of strong 2021 startAs daily earnings for the largest of the dry bulk ship types reached $28,520 on Friday, April 16, a 10-year-high was attained. However, whereas Fridays’ daily average time charter equivalent earnings (TCE) are seasonally strong, they are not special by their own merit.
More than 44 pounds of cocaine was seized from a Marshall Islands-flagged bull carrier anchored in the Chesapeake Bay near Annapolis, Md., on Wednesday.The drugs were discovered during an early morning examination by officers and agents from the DEA, U.S. Customs and Border Protection, Homeland Security Investigations, U.S.
Spanish government veterinarians were on Friday inspecting hundreds of cows crammed aboard a ship that returned to port after months at sea in which the animals endured what one NGO described as “hellish” conditions.The Karim Allah docked at the southeastern Spanish port of Cartagena on Thursday after drifting for months through the Mediterranean, struggling to find a buyer for its 895 cattle
The Port of Los Angeles is working with IBM to design and operate a Port Cyber Resilience Center (CRC) at the U.S.' busiest container port.A $6.8 million, three-year agreement between the seaport and tech giant includes hardware, software and services to design, install, operate and maintain the first-of-its-kind system aimed at detecting and protecting against malicious cyber incidents
There are many Venture Capital funds helping to drive innovation across industry. theDOCK, co-founded by Hannan Carmeli and Nir Gartzman, is unique in that it is working to connect the ports, shipping and logistics industries with primarily Israeli-based start-ups. We recently interviewed Carmeli for insights on the path and pace of the companies under theDOCK’s guise.
Offshore marine services provider PACC Offshore Services Holdings' (POSH) accommodation vessel has been designated by the Maritime and Port Authority of Singapore (“MPA”) to support crew changes for cargo ships calling in Singapore.To date, MPA has approved about 6,000 crew changes for cargo ships since 27 March 2020.