In my May 2020 MREN USS Enterprise column I made a reference to the benefits of titanium as a hull structural material.It related to the life of the USCG cutter Bear and I concluded the column with a suggestion that titanium would be a particularly useful and cost-effective structural material for sail training vessels, aircraft carriers, research vessels, cruise vessels
Genco Shipping & Trading has entered into an agreement to acquire three modern, eco Ultramax bulk carriers in exchange for six older Handysize vessels, the largest U.S. headquartered dry bulk shipowner announced Monday. The transaction with an unnamed trading partner is structured as an asset swap without monetary consideration or additional capital required.
A new report from a U.S. offshore services trade group details alleged Jones Act violations by a foreign-flagged vessel in the U.S. Gulf of Mexico.The Offshore Marine Service Association (OMSA), which recently launched its Jones Act Enforcer program to document and report violations of the U.S. law requiring seaborne cargo shipped between two U.S.
The evolution of commercial ship design and construction now includes a first in the U.S.: the first commercial U.S. vessel designed, built and verified using an end-to-end 3D design process, a project coordinated through ABS, Robert Allan Ltd. (RAL), Signet Maritime Corporation (Signet) and the U.S. Coast Guard (USCG).
North American import of containerized goods from the Far East soared to a noteworthy high of 1.62m TEU during February 2021, a 100% increase from the low point of the same month last year. Fueled by US stimulus, volumes moving on the trans-pacific trade lane to consumers and businesses in North America thereby defied all obstacles during a month usually characterized by slow activity.
In the last year, the Covid-19 pandemic has increased the risks of working in what was already one of the most hostile environments on Earth. But, with the first anniversary of the outbreak not long in our collective rear-view mirrors, offshore workers in the North Sea are facing a twin threat: emerging new variants of the virus and increasing Covid-fatigue and complacency.
Cyprus-based shipping company Castor Maritime Inc. announced it has secured new charter agreements for several of its bulk carrier vessels.The 2010-built Panamax dry bulk carrier Magic Nova has been fixed on a time charter contract at a gross daily charter rate equal to 92% of the average of the Baltic Panamax Index 5TC routes.
KOTUG International B.V. (KOTUG) won a long-term contract by Perenco Oil & Gas Gabon S.A. (Perenco) to provide towage support for their operations off Port Gentil, Gabon. The contract includes the chartering, operation and manning of three vessels, two of which are Kotug’s first-ever Rotor Tugs, the RT Magic and RT Spirit.
Cyprus-based shipping company Castor Maritime announced on Thursday that it has fixed two of its bulk carriers on time charter agreements. The 2006-built Capesize dry bulk carrier Magic Orion has been fixed on a time charter contract at a gross daily charter rate of $73,000. The charter is expected to commence on or around October 8, 2021, and will have a duration of about 45 days.
Shipping company Castor Maritime on Monday announced a trio of new time charter agreements.The Magic Nebula, a 2010 built Kamsarmax dry bulk carrier, has been fixed on a time charter contract at a gross daily charter rate of $31,750. The charter commenced on September 4, 2021, and has a minimum duration of six months and a maximum duration of eight months (+/- 15 days) at the charterer’s option.
Cyprus-based shipping company Castor Maritime announced on Wednesday it has taken delivery of two newly acquired secondhand dry bulk carriers.On August 6, the company accepted delivery of the 2013 Japanese-built Panamax bulker Magic Pluto, which it had agreed to acquire as previously announced on May 17.
Shipping company Castor Maritime has taken delivery of the M/V Magic Eclipse, the 2011 Japanese-built Panamax dry bulk vessel.The company, which owns a fleet of tankers and dry bulk carriers, announced the deal to acquire the vessel back on April 9, 2021. It at the time said it would pay $18.