Container shipping giant Maersk on Wednesday agreed to buy Hong Kong-based LF Logistics for $3.6 billion in an all-cash deal, as it seeks to expand beyond its core ocean freight business.The deal is one of the group's largest takeovers to date and follows a series of acquisitions including e-commerce firms, a freight forwarder specializing in air freight and its smaller rival Hamburg Sud.
Sea Change - America’s first hydrogen powered ferrySWITCH Maritime’s new 70-foot passenger ferry Sea Change is navigating uncharted waters as the United States’ first zero-emissions, hydrogen fuel cell-powered, electric-drive ferry.The pioneering aluminum newbuild, constructed by Bellingham, Wash. shipbuilder All American Marine, Inc.
Container shipping rates from China to the United States have scaled fresh highs above $20,000 per 40-foot box as rising retailer orders ahead of the peak U.S. shopping season add strain to global supply chains.The acceleration in Delta-variant COVID-19 outbreaks in several counties has slowed global container turnaround rates.
Offshore wind installation company Cadeler has ordered two new X-class wind turbine installation vessels from China's COSCO SHIPPING Heavy Industry.The total order amounts to $651 million, so $325.5 million per vessel. According to Cadeler, the new vessels will, upon completion, be the largest in the industry. They will be built in COSCO's shipyard in Qidong, China.
The past decade has seen tight restrictions on emissions from vessels, notably with a 2015 move to a .10% sulfur maximum in Emission Control Areas (ECA) in North America and in northern Europe. As the International Maritime Organization (IMO) now shapes shipping’s decarbonization future, shipowners are looking at transitions away from fossil fuels.
The persistent eutrophication (being too rich in nutrients) of the Baltic Sea prompted the IMO’s Baltic Member States to tackle shipping’s < 0.1% contribution by designating the Baltic Sea as the first Special Area under Annex IV of IMO’s MARPOL Convention [1]. Passenger ships must give sewage to wastewater treatment works (WWTWs) ashore via the port reception facilities (PRFs) or operate a
The IMO’s MARPOL Annex IV is being revised to confirm the lifetime performance of Sewage Treatment Plants (STPs). This may finally bring about grey water regulation – a necessity that is long overdue.Black Water and Grey WaterA ship’s sewage (black water) is collected from toilets, urinals and hospitals.
Iran has asked Indonesia to provide details about the seizure of an Iranian-flagged vessel, Iranian Foreign Ministry spokesman Saeed Khatibzadeh said on Monday, a day after Jakarta said it had seized Iran and Panama-flagged tankers in its waters.Indonesia said on Sunday its coast guard had seized the Iranian-flagged MT Horse and the Panamanian-flagged MT Freya vessels over suspected illegal oil
Members of "The Greatest Generation" honored for Valiant U.S. Military Service by the Long Island Council of the U.S. Navy LeagueThe Long Island Council of the Navy League of the United States earlier this year held a World War II Veterans Recognition Event in conjunction with Veteran’s Day.
ABB said Thursday it would deliver an integrated electric propulsion system and vessel control technology for Crowley’s pioneering eWolf tug, built for sustainable and safe operations at the Port of San Diego.Upon delivery by Alabama-based shipbuilder Master Boat Builders, Inc. (MBB) in mid-2023
The International Association of Classification Societies has named Lloyd’s Register CEO Nick Brown as its Incoming Council Chair.Brown will take up the role on July 1 this year, marking the first time that the IACS Chair has been chosen by the Association’s Members and not by rotation, a move that follows governance changes announced in December last year.
Malaysian oil company Petronas and China-based oil firm CNOOC, have signed a memorandum of understanding to "pursue mutual growth through closer collaboration.""The MoU elevates the long-standing relationship between the two parties from primarily liquefied natural gas (LNG) and upstream projects towards a shared ambition in energy security and cleaner energy solutions," Petronas said.