The Panama Canal Authority could double in coming years the number of containers that move through the commercial waterway that links the Pacific and the Atlantic oceans, the canal's chief told a maritime conference.The authority, which has an $8 billion investment plan, is putting in place a water conservation strategy following a severe drought that forced ships between late 2023 and early
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
Noble Corporation has entered into a definitive agreement to acquire Diamond Offshore, creating a fleet of 41 rigs - including 28 floaters and 13 jack-ups, and a combined backlog of approximately $6.5 billion.Noble will acquire Diamond in a stock plus cash transaction, whereby Diamond shareholders will receive 0.2316 shares of Noble, plus cash consideration of $5.
Spiking ocean shipping rates, vessel backups at seaports and empty container shortages - issues that wreaked havoc on global trade during the COVID pandemic supply-chain crisis - are back as the industry enters its busy season."There is a cocktail of uncertainty and disruption across global ocean freight supply chains," said Peter Sand, chief analyst at pricing platform Xeneta.
Hapag-Lloyd and Seaspan Corporation announced plans to retrofit and convert five 10,100 TEU containerships powered by conventional MAN S90 engines to dual-fuel engines capable of operating on methanol. Following the engine retrofit, the vessels will continue to be on long-term charter from Seaspan to Hapag-Lloyd.
South Korea remembered the 304 people, most of them school children, who died on the Sewol ferry on the 10th anniversary of its sinking on Tuesday, with families calling for a proper apology for the unnecessary deaths of their loved ones.Many parents attended a memorial service in the city of Ansan, home of the 250 children who died on the ferry during a school excursion
The shipping industry's pledge to limit its carbon footprint may suffer a setback as the current Red Sea crisis prompts it to use more vessels and take longer routes to ensure the smooth sailing of global maritime trade.Iranian-backed Houthi militants' attacks on vessels passing through the southern Red Sea have choked trade through the Suez Canal
U.S. shipping company Crowley has shared first renderings and the names of its four new dual fuel liquefied natural gas (LNG)-powered containerships: Quetzal, Copan, Tiscapa and Torogoz.The 1,400 TEU vessels were ordered in 2022 by Singapore-based Eastern Pacific Shipping (EPS) for scheduled delivery from South Korea’s Hyundai Mipo Dockyard in 2025.
Yemen's Houthis have provided assurances to both China and Russia that their vessels will pass safely through the Red Sea, the chief negotiator for the Houthi movement, Mohammed Abdulsalam, told Reuters on Thursday.(Reuetrs - Reporting by Mohammad Ghobari; Writing by Enas Alashray; Editing by Hugh
First responders and volunteers from Trinidad and Tobago on Tuesday sought to contain an oil spill detected last week in the Caribbean country's waters and clean areas of Tobago island's coast already affected by the incident.Trinidad and Tobago's coast guard first spotted the spill on Feb.
Samsung Heavy Industries (SHI) has secured an engineering, procurement and construction (EPC) contract for a new floating LNG production unit worth $1.5 billion.SHI formed a consortium with Black & Veatch for the delivery of the new FLNG unit, subject to final investment decision for the project (FID) being developed by the 'North American client'.
The CEOs of leading global shipping lines issued a joint declaration at COP 28 calling for an end date for fossil-only powered newbuilds and urging the IMO to create the regulatory conditions to accelerate the transition to green fuels.The only realistic way of meeting the IMO’s 2030, 2040 and net-zero 2050 goals is to transition from fossil to green fuels at scale and at pace, they say.