The Baltic Exchange’s main sea freight index touched its highest level in more than seven months on Tuesday, as rates across all vessel segments rose on increasing trading activity. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 59 points, or …
Baltic index hits over 7-month high on increasing vessel activity Read More »
The Aurora Spirit, launched at Samsung Heavy Industry’s shipyard in South Korea, is the first of six new-generation e-shuttle tankers ordered by Altera Infrastructure, formerly Teekay Offshore, and developed in close collaboration with Wärtsilä. What makes the Aurora Spirit revolutionary is its “flexible utilisation of different energy sources to achieve a very efficient design and …
Revolutionary e-shuttle tanker boasts improved efficiency and lower costs Read More »
The adoption of the ‘Initial International Maritime Organization (IMO) Strategy on Reduction of Greenhouse Gas (GHG) Emissions from Ships’ by IMO Resolution MEPC.304(72) in April 2018 demonstrates IMO’s commitment to support the Paris Agreement. The IMO strategy includes initial targets to reduce as compared to 2008 levels the average CO2 emissions per ‘transport work’ by …
Asian Aframax freight rates hit a two-year low June 22 amid a sharp decline in cargo volumes and an increasing surplus of tonnage in Southeast Asia and the Persian Gulf, S&P Global Platts data showed. The key Persian Gulf-East route basis 80,000 mt was assessed at Worldscale 60 on June 22, equating to $12.34/mt. It …
Asian Aframax rates hit 2-year low amid ample supply as cargo volumes fall Read More »
RightShip, the world’s largest maritime risk management and environmental assessment organisation, has announced support for The Mission to Seafarers in their work to protect the well-being of seafarers around the world, with an unrestricted donation of US$25,000. Although many countries are starting to ease COVID-19 restrictions, and despite vigorous efforts by the shipping industry, many …
Maritime Law specialist Hill Dickinson’s position at the centre of the Hong Kong shipping services sector has been further emphasised by the reaffirmation of its place on an important maritime board. Edward Liu, Hill Dickinson counsel in Hong Kong, has been reappointed by the Secretary for Transport and Housing as a co-opted member of the …
Edward Liu reappointed to Hong Kong Maritime and Port Board Read More »
Watson Farley & Williams (“WFW”) has advised long-standing client Globus Maritime Limited (“Globus”) in connection with a public offering, raising approximately US$12m. In the offering, which priced on June 18, 2020, units consisting of one common share (or pre-funded warrant) and Class A warrants were sold in an underwritten public offering registered with the SEC …
WFW advises Globus Maritime on US$12m public offering Read More »
Belgian electricity and gas supplier Lampiris and Otary have approved a long-term power purchase agreement (PPA) for all of the electricity generated at the 309 MW Rentel offshore wind farm. The agreement must still be submitted for approval to the Electricity and Gas Regulation Commission (CREG). If approved, the PPA will start on 1 October …
Total’s Belgian subsidiary to buy all of Rentel’s electricity Read More »
UXOcontro has completed the UXO identification campaign for the Kincardine offshore wind farm. Located approximately 15km off the south-east coast of Aberdeen, Kincardine offshore wind farm has a nominal capacity of 50 MW. It comprises offshore floating wind turbine structures, an offshore export cable, a landfall and an onshore export cable. UXOcontrol’s first UK contract as …
UXOcontrol completes Kincardine offshore wind farm campaign Read More »
Liquefied natural gas (LNG) exports from the United States have declined by more than half so far in 2020, the U.S. Energy Information Administration said. Courtesy of Freeport LNG Daily natural gas deliveries to U.S. facilities that produce liquefied natural gas for export were a record 9.8 billion cubic feet per day (Bcf/d) in late …
EIA: U.S. year-to-date LNG exports more than halved Read More »
