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Clarksons: Strongest Half Year For Shipping Markets Since 2008

A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional individual markets. While previous years’ reports have mentioned “must do better” or “extra classes needed”, even the toughest of examiners would congratulate (tankers aside!?) shipping’s economic performance during the many continued …

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Triple SNS Contract Win for ASCO

Global integrated logistics and materials management company, ASCO, has announced the award of three major contracts, which will be serviced via its Southern North Sea (SNS) base in Great Yarmouth. The company has secured a three-year contract extension with an SNS-based operator, for the provision of marine base services, including quayside, logistics, waste management and …

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IMO has a new plan to reduce shipping’s carbon emissions; will it be enough?

Global shipping accounts for about 3% of the world’s annual carbon emissions, and pressure is intensifying on the industry to reduce that pollution to contribute to the international goal of net-zero carbon emissions by 2050. To date, the shipping industry, led by the International Maritime Organization (IMO), has lagged behind the electric power, vehicle, and …

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Tankers freight seen weak in Q3 as supply weighs

The global tanker markets are likely to stay weak in the third quarter due to the significant slowdown in trade flows, which will take several months, if not years, to recover, market participants said. Freights are already low, and earnings have dissipated and unlikely to recover anytime soon, market participants said. The slowdown in demand …

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Norton Rose Fulbright appoints global sector leadership

Global law firm Norton Rose Fulbright today announced that it has sharpened its sector approach and appointed new global sector leads. Gerry Pecht, Norton Rose Fulbright’s Global Chief Executive, said: “Twenty years ago, Norton Rose Fulbright differentiated itself by becoming the first global law firm to be organized along industry lines. That strategic foresight led …

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Window on Washington: Container Crunch

Like so much in life, the true impacts of the COVID-19 pandemic on the maritime industry will likely only become clear in retrospect. At the outset of the pandemic, industry stakeholders gathered on and off Capitol Hill, and with key Federal agencies, to discuss what kinds of assistance would be needed and when. As the …

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United States grants $27 million to bring wave energy technology to market

The U.S. Department of Energy (DOE) has made available up to $27 million in federal funding for research and development projects to convert energy from ocean waves into carbon-free electricity. Illustration/Wave energy device (Photo: YouTube/Screenshot) The funding opportunity aims to advance wave energy technologies toward commercial viability, and supports the Biden-Harris Administration’s efforts to build …

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Petronas secures 10-year LNG supply deal with CNOOC

Malaysia’s LNG giant Petronas has signed a ten-year agreement to supply LNG to a subsidiary of China National Offshore Oil Corporation (CNOOC). Courtesy of CNOOC The agreement is for 2.2 million tonnes per annum (mpta) for a ten-year period. It is valued at approximately $7 billion over ten years. This deal also includes supply from …

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Croatian subsea interconnection to feature Greek cables

Hellenic Cables has secured a contract to supply high voltage submarine cables to the Croatian transmission system operator for a cable replacement project in the Adriatic Sea. Under a contract signed with Končar Group, Hellenic Cables will supply 12 kilometers of 110 kV submarine cables, accessories and related services as part of a project by …

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El Puerto de Motril inicia la construcción de un vial directo para la entrada las mercancías de grandes dimensiones desde la autovía

Con los trabajos de topografía, este martes han dado comienzo las obras de construcción de un nuevo acceso directo desde la autovía al muelle de las Azucenas, destinado a las cargas de proyecto y mercancías de grandes dimensiones. El proyecto, adjudicado a la empresa Vialterra, cuenta con presupuesto 512.874 euros y será ejecutado en tres …

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