Suez Canal Tanker Traffic Maintains Steady Flow After February Spike

Almost four months have passed since Yemen’s Houthi rebel group began attacking commercial ships in the southern Red Sea and Bab al-Mandeb Strait between Yemen and East Africa.

Escalation Of Violence

The attacks began on 19 November last year, when Houthi militants seized the Galaxy Leader vessel.

Since then, at least 14 oil & chemical tankers have faced missile strikes, near misses, or threats from the Houthis, according to marine risk management firm Ambrey. These attacks forced many tanker...

https://mfame.guru/suez-canal-tanker-traffic-maintains-steady-flow-after-february-spike/

ClassNK Awards First-Ever Notation For Living And Working Environment Improvement

  • ClassNK has granted its ELW notation to ELETTRA, a bulk carrier.
  • ClassNK facilitates the recognition of innovative technologies and initiatives in the maritime industry.
  • The DENBA+ Marine system has obtained ClassNK’s Innovation Endorsement certification.

ClassNK has granted its Excellent Living and Working Environment notation to “ELETTRA”, a bulk carrier owned by Fuyo Kaiun Co., Ltd., marking the first vessel in the ClassNK registry to receive this notation.

This notation signifies adherence...

https://mfame.guru/classnk-awards-first-ever-notation-for-living-and-working-environment-improvement/

Ulstein’s New Subsea Vessel

Ulstein, a Norwegian shipbuilder and ship designer, has unveiled a new subsea vessel, the ULSTEIN SX232, tailored to serve the offshore wind market for both floating and fixed installations, as well as the offshore oil and gas industry, says an article published on marine link website.

Summary
  • Ulstein, a Norwegian shipbuilder and designer, introduces the ULSTEIN SX232, a new subsea vessel catering to the offshore wind and oil/gas industries.
  • The vessel features an optimized hull design based on...

https://mfame.guru/ulsteins-new-subsea-vessel/

Singamas Shifts Focus To Container Leasing Amid Declining Sales

  • Singamas, the world’s fourth-largest container manufacturer, has announced plans to increase revenue from container leasing instead of box sales.
  • This strategic shift comes as liner operators seek greater flexibility in managing inventory amidst economic uncertainties and a tonnage overhang.
  • Despite a significant decline in net profit for 2023, Singamas observed healthy growth in income from container leasing, attributing it to more flexible production and timely delivery capabilities.
  • The...

https://mfame.guru/singamas-shifts-focus-to-container-leasing-amid-declining-sales/

Wärtsilä Lifecycle Agreement To Support Low-Emission Operations For P&O Ferries Vessels

  • Wärtsilä has entered a five-year Lifecycle Agreement with UK-based P&O Ferries, covering two vessels, the M/V Pioneer and the M/V Liberté.
  • The agreement aims to optimize operations, ensure minimal impact, and provide maintenance cost predictability.
  • By leveraging Wärtsilä’s digital solutions, P&O Ferries aims to improve vessel uptime, save fuel, and decrease emissions, aligning with its commitment to reducing its carbon footprint and protecting the environment.

Wärtsilä has signed a...

https://mfame.guru/wartsila-lifecycle-agreement-to-support-low-emission-operations-for-po-ferries-vessels/

World’s First Ammonia-Powered Vessel Conducts Successful Trial In Singapore

  • Fortescue, in collaboration with the Maritime and Port Authority of Singapore (MPA) and other partners, has achieved a significant milestone by conducting the world’s first use of ammonia as a marine fuel in a dual-fuelled vessel, the Fortescue Green Pioneer, at the Port of Singapore.
  • This trial marks a crucial step towards the adoption of alternative fuels in the maritime industry and underscores Singapore’s commitment to innovation and sustainability in shipping.

Ammonia, widely used in...

https://mfame.guru/worlds-first-ammonia-powered-vessel-conducts-successful-trial-in-singapore/

Fearnleys: VLCC Lull, While Suezmax Stay Active

Fearnleys weekly report compiles the tanker status for week 11 of the year 2024.

VLCC

MEG March stem volume will close out this week at around 145 total cargoes. Likely a very brief lull before the April cargoes start working (although we have already seen a 1-2/Apr Al Shaheen Smax stem and some Chinese to Chinese business off April dates already). The early birds may start working at the end this week, early next, so rates likely a flat in the MEG for the time being at the WS 70 level. We count...

https://mfame.guru/fearnleys-vlcc-lull-while-suezmax-stay-active/

Piracy Incident Off Somali Coast: Crew Taken Hostage

  • Operation ATALANTA, the EU’s naval mission against piracy.
  • Investigations are underway, with UKMTO leading efforts to address the situation.
  • Vessels navigating the region are advised to heighten security measures.

Operation ATALANTA, the EU’s naval mission against piracy, reports a piracy incident involving a Bangladesh-flagged bulk carrier. 23 crew members have been taken hostage by pirates who are demanding a $5 million ransom.

The vessel is currently sailing towards the Somali coast, with...

https://mfame.guru/piracy-incident-off-somali-coast-crew-taken-hostage/

DP World Announces Resilient FY2023 

  • DP World Limited announces resilient financial results for FY2023.
  • Profit for the year decreased by 17.7%.
  • Investments are to be focused mainly on Jebel Ali, London Gateway, Inland Logistics, Dakar, East Java, Callao, and Jeddah.

DP World Limited announces resilient financial results for FY2023, with adjusted EBITDA remaining stable at $5.1 billion despite challenges, reports Media Office.

Revenue Growth

Revenue increased by 6.6% to $18,250 million, driven by growth in Drydocks World and...

https://mfame.guru/dp-world-announces-resilient-fy2023/

MARAD’s Port Infrastructure Development Program

As part of President Biden’s Investing in America agenda, the U.S. Department of Transportation’s Maritime Administration (MARAD) has announced a Notice of Funding Opportunity (NOFO) for the Port Infrastructure Development Program (PIDP). This initiative aims to enhance the nation’s ports and strengthen supply chains, ultimately benefiting the American economy and consumers.

Investing in Port Infrastructure

The PIDP focuses on modernizing coastal and inland waterway ports to bolster supply chains...

https://mfame.guru/marads-port-infrastructure-development-program/

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