Platts, part of S&P Global Commodity Insights, has launched new price assessments for tanker base freight rates that factor in pricing for alternative fuels, the agency said on Tuesday.The move comes as the agency expects the maritime sector's use of alternative fuels, such as liquefied natural gas (LNG) to grow significantly in the next few years.
A.P. Møller Holding A/S has acquired offshore vessel services firm Maersk Supply Service A/S from A.P. Møller – Mærsk A/S, through the closing of the previously announced transaction.In connection with the closing of this acquisition, A.P. Moller Holding has elected a new CEO and Board of Directors for Maersk Supply Service A/S. Christian M.
A Singapore-registered containership that lost power and steering in heavy seas off the west coast of New Zealand has been towed to safety.The 5,100 TEU capacity Shiling requested assistance from Maritime New Zealand at around 8:30 a.m. local time Friday, after losing main propulsion while en route from Auckland to Wellington.
The U.S. Department of Energy's refusal to grant export permit extensions to liquefied natural gas (LNG) developers that fail to meet a construction deadline poses a new hurdle for greenfield plants, analysts said on Thursday.The DOE last month said it would grant future extensions solely on extenuating circumstances and rejected an extension for Energy Transfer's proposed Lake Charles LNG
Norwegian shipbuilder Vard, part of Italy's Fincantieri, has signed new contracts to design and construct two commissioning service operation vessels (CSOVs) for the UK-based offshore vessel owner North Star.The agreement also has an option for two additional ships, which could ultimately create a total of up to 200 new seafaring job opportunities across the CSOV fleet once operational, Vard said.
WTIVs have always been fuel-hungry. Now they are being tasked with installations that are further, deeper and heavier.Offshore wind farms continue their march into deeper water, further from shore, with turbines that can now reach more than 270 meters high with blades 120 meters long.
New York City is set to receive its first public hybrid-electric ferry, Mayor Eric Adams announced on Wednesday.The first-of-its-kind vessel—currently under construction at Conrad Shipyard’s facility in Morgan City, La.— will begin transporting passengers to Governors Island in summer of 2024. It will replace the diesel-powered Lt. Samuel S.
Much has been said both in Congress and by the current administration of the need to restore and enhance our nation’s transportation infrastructure, including its maritime transportation infrastructure. Recent legislation, such as the Infrastructure Investment and Jobs Act (IIJA, also known as the Bipartisan Infrastructure Law), the Inflation Reduction Act
UAE's Fujairah must step up investments for storage and supply of new alternative fuels as these markets are still lacking traction at the world's third-largest bunkering hub despite the urgency for maritime decarbonization, industry executives said on Wednesday.The maritime industry must seek out alternative fuels to meet carbon emission reduction targets set out by the U.N.
New intelligence reviewed by U.S. officials suggests that a pro-Ukraine group - likely comprised of Ukrainians or Russians - attacked the Nord Stream gas pipelines in September, but there are no firm conclusions, the New York Times reported on Tuesday.There was no evidence that Ukrainian President Volodymyr Zelenskiy or other Ukrainian government officials were behind the attacks which spewed
The Port of New York and New Jersey has held onto the title as the United States’ busiest container port for a fourth consecutive month.In recent months, U.S. East Coast ports have reported elevated container volumes as trade diverts from the U.S. West Coast where shippers have been hindered by labor disputes and logistics bottlenecks.
CMA CGM, one of the world's largest container shipping lines, said on Tuesday that it has agreed to acquire two container terminals at the port of New York and New Jersey from Global Container Terminals (GCT), which will extend its presence in a crucial hub for trade.The deal comes after French-based CMA CGM last month said it expects a pullback in shipping markets to accelerate in the fourth