U.S. President Donald Trump signed an executive order on Wednesday aimed at reviving U.S. shipbuilding and reducing China's grip on the global shipping industry.Republican and Democratic U.S. lawmakers for years have warned about China's growing dominance on the seas and diminishing U.S. naval readiness.The order directs the U.S.
The 2024 represented an unprecedented year for maritime industry when it comes to orders for alternative-fueled vessels, driven mainly by liquefied natural gas (LNG), according to the latest data from DNV’s Alternative Fuels Insights (AFI) platform.A total of 515 alternative-fueled such ships were ordered, excluding LNG carriers, representing a 38% year-on-year increase compared to 2023
“At the end of 2024, the container ship order book was 8.3m TEU, a new record compared with the previous high of 7.8m TEU in early 2023,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.As 4.4m TEU were contracted during 2024, the second highest ever, the order book grew despite deliveries hitting a new record high of 2.9m TEU.
NATO will boost its presence in the Baltic Sea after the suspected sabotage this week of an undersea power cable and four internet lines, while alliance member Estonia launched a naval operation to guard a parallel electricity link. Finland on Thursday seized a ship carrying Russian oil on suspicion the vessel had caused an outage of the Estlink 2 undersea power cable linking it with Estonia and
Dry bulk contracting falls 70% below average amid low rates.“Over the past three months, dry bulk newbuilding contracting has been 70% below the yearly average. Declining freight rates in recent months, a cloudy outlook and high newbuilding prices contributed to the slowdown, and contracting in 2024 will likely fall short of 2023 levels,” says Filipe Gouveia, Shipping Analyst at BIMCO.
American Commercial Barge Line (ACBL) and C&C Marine and Repair have christened the M/V ACBL Mariner, said to be the most powerful and capable towboat ever built for operations on the Mississippi River.The christening ceremony took place in New Orleans in the presence of Louisiana Governor Jeff Landry.The ACBL Mariner boasts 11,000 horsepower, and can push up to 64 barges up the river at one time.
The European Union is proposing to sanction Russia's oil-shipping giant Sovcomflot in a move to limit the Kremlin's ability to finance its war against Ukraine, Bloomberg News reported on Tuesday, citing a document seen by it.The move would follow similar punitive measure imposed on the leading Russian tanker group early in 2024 by the U.S.
Global crude oil and oil products shipments taking the long route between Asia, the Middle East and the West is up 47% since attacks began on vessels using the shorter Red Sea route, the Energy Information Administration said on Tuesday.The longer route around the Cape of Good Hope to avoid attacks by Yemen's Houthis has pushed up shipping costs
U.S. President Joe Biden made an impassioned call for the defense of freedom and democracy at the 80th anniversary of the D-Day landings in Normandy on Thursday, urging Western powers to stay the course with Ukraine and not surrender to Russian tyranny.At a joint ceremony with French President Emmanuel Macron and U.S.
With the U.S. Navy and U.S. Coast Guard FY 2025 budget requests offering uninspiring news for traditional shipbuilders, industry observers might be forgiven for checking out and dismissing 2024 as just another dull year in the frustrating business of government shipbuilding.But with an election season underway and an increasingly disorderly sea
Hungary has detained the captain of a Swiss-based cruise ship involved in a collision with a small motor boat on the Danube River late on Saturday that killed two people, with five others still missing, police said on Monday.The accident was reported on Saturday night after a 35-year-old man was found with a bleeding head wound near a main road by the river near Veroce
The Olympic flame landed on French soil amid tight security on Wednesday, firing the starting gun on a summer extravaganza of sport that President Emmanuel Macron hopes will showcase the splendours of France and burnish his legacy.The flame arrived in Marseille, a port city in southern France founded by Greek merchants, after a 12-day trip from Greece onboard the Belem