Shipowners in all sectors face the same decision: build new or refurbish older tonnage. In the booming cruise sector the decision is more pressing, particularly as new construction ships can take two to three years to build, perhaps longer today with global shipyard orderbooks packed full.
The prices for newbuild vessels have risen to their highest level in 16 years, according to latest figures from shipping association BIMCO.“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2020 they are up 53%.
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
The U.S. Treasury said on Fridayit has imposed sanctions on Russia's leading tanker group Sovcomflot FLOT.MM, as Washington seeks to reduce Russia's revenues from oil sales that it can use to support its invasion of Ukraine.The Treasury Department's Office of Foreign Asset Control also designated 14 crude oil tankers vessels as property in which Sovcomflot has an interest.
A series of four zero-emission and autonomous ferries, to be built by Turkish Tersan shipyard for Norwegian ferry operator Fjord1, will be propelled by Schottel’s EcoPellers.The double-ended vessels will be the first of their kind in the world, with Norwegian HAV Design tasked to deliver the ship design and an engineering package.
ClassNK has granted its Innovation Endorsement for Products and Solutions to monitoring service for ocean vessel motors, V-MO, developed by Asahi Kasei Engineering Corporation.ClassNK has confirmed that the DSS notations (MM, CNS, SM), which indicate ships with advanced digital technology, can be applied to ClassNK-registered vessels equipped with the product.
Taiwan's coast guard tried on Friday to rescue dozens of sailors stranded off the southern coast after Typhoon Gaemi sank a freighter and grounded eight others in the Taiwan Strait.The powerful typhoon swept through Taiwan on Thursday with gusts of up to 227 kph (141 mph) before barreling west across the Taiwan Strait towards China where it is expected to dump more torrential rain.
After a stay of around eight weeks at the shipyard, the "Kaja Josephine" left the Strela Shiprepair Yard on July 11, 2024, the first inland vessel to be docked and maintained there since the Stralsund repair yard was founded two years ago. The Futura Carrier, built in 2007, belongs to the fleet of the Schramm Group based in Brunsbüttel (Schleswig-Holstein).
Norwegian offshore vessel owner Solstad Offshore has secured contract extensions with Subsea7 for two of its subsea construction support vessels (CSVs) – Normand Subsea and Normand Energy.Subsea7 has exercised the 2025 optional charter period for the Normand Subsea.The contract is now firm until December 31, 2025, with no further options thereafter.
Capacity reduction on the Panama Canal have hurt dry bulk market, with dry bulk carrier transits down significantly (down 74% in the Q1 '24 vs. '23, with sailing distances up 31% and cargo volume down 25% year on year, according to BIMCO shipping analyst Filipe Gouveia.Low water levels in lake Gatun have caused restrictions in the number of transits through the Panama Canal at a maximum draft
Castoldi launched the latest in a new range of hydrodynamically optimized waterjets; the Turbodrive 400 HCT.With a 400 mm jet housing, hydraulic gearbox/clutch and high thrust efficiency, the Turbodrive 400 HCT was designed using Computational Fluid Dynamics (CFD) software.The development of the new family of Castoldi HCT waterjets started 12 years ago and according to Giacomo Castoldi
MAN Energy Solutions has announced the production of a massive Cluster 5 Double Layer Selective Catalytic Reduction (SCR) converter to MITSUI E&S.The cluster comes ammonia-ready and is the largest such unit that the company has ever built.Such systems are typically used aboard cruise ships and cargo ships to reduce nitrogen oxide emissions by 90%.