The Baltic Exchange’s main sea freight index snapped three straight sessions of losses to gain on Wednesday, as rates increased for the capesize and supramax vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 28 points, or 0.9%, at 3,147 points. The capesize index gained 85 …
Baltic index perks up as capesize rates increase Read More »
Leasing as a form of ship financing is here to stay, and it’s up to the traditional banks lending to the sector to educate funding newcomers so that the overtonnaging mistakes of the past are not repeated. That was the viewpoint of three banking experts speaking at the recent Marine Money Hong Kong 2021 Greater …
INTERCARGO is supporting the shipping community by encouraging bulk carriers in ports around the world to sound their horns at 12 noon local time on 25 June, the IMO Day of the Seafarer, to remind the world of the urgent need to vaccinate all seafarers serving on board and awaiting on shore for re-employment, and …
Day of the Seafarer 2021: INTERCARGO Joins Calls for a Fair Future for Seafarers Read More »
South Korea’s state-run nuclear energy research institute and the country’s major shipbuilder have agreed to join forces to develop a marine molten salt reactor as part of efforts toward developing small modular reactors to help achieve carbon neutrality in shipping and power generation. Under the agreement, the Korea Atomic Energy Research Institute and Samsung Heavy …
South Korea companies develop molten salt reactor for shipping, power generation Read More »
A representative for the owners and insurers of a giant cargo ship that blocked the Suez Canal in March on Wednesday (Jun 23) said that an agreement in principle had been reached in a compensation dispute with the canal authority. Work was under way to finalise a signed settlement agreement as soon as possible and …
Agreement in principle reached over Suez Canal ship – Stann Marine Read More »
UK oil and gas company Harbour Energy, formed through a merger between Premier Oil and Chrysaor, has experienced a negative impact on production during the first five months of the year due to planned maintenance and outages across its assets. However, as these shutdowns are coming to a close and the drilling activity is ramping …
Harbour Energy expects low output to bounce back as delayed project nears start-up Read More »
The survey of the seabed cable system and all of the turbine jacket foundations is about to start at the Ormonde offshore wind farm in the Irish Sea. The 18.5 meter survey vessel CWind Alliance will conduct the survey for approximately two months. Survey equipment to be used includes multi bean echo sounders, sonar, and …
Offshore drilling contractor Noble Corporation has secured more work for two of its drilling rigs while one jack-up unit has been warm stacked in the UK. In its latest fleet status report, published on Wednesday, Noble Corporation revealed that Qatar Gas has exercised a one-year option for the Noble Mick O’Brien jack-up rig, keeping the …
Noble Corp. lands more work for two drilling rigs Read More »
Independent company for development, simulation and testing AVL has conducted an initial training session with project partners for the instrument that will help develop the VALID wave energy hybrid testing platform. Illustration/Testing with the IODP (Courtesy of AVL) AVL, a member of the consortium of the EU-funded VALID project, has been a front-runner in hybrid …
AVL preps VALID partners for wave hybrid testing platform Read More »
Ever Given; Image credit Boskalis Owners of the 20,000 TEU containership Ever Given, which has been stuck in Egypt for months following its grounding in the Suez Canal, have reached an agreement in principle with the canal authority over the compensation claim. “Together with the owner and the ship’s other insurers we are now working …
Ever Given owners, Suez Canal Authority hammer out compensation deal Read More »
