In the maze of global energy exchanges, Europe’s hopes of sourcing more liquefied natural gas (LNG) from Egypt appear bleak in the near term, reveals a report by the Oxford Institute of Energy Studies. Hindered by tight gas balances and dwindled importation from its ally Israel, Egypt’s ability to dispatch LNG to Europe is increasingly […]
Unraveling Egypt’s Strained LNG Exports to Europe: An Overview Read More »
Shipbuilding for a Sustainable Future Japan’s longstanding shipping conglomerate, NYK Line, announced a groundbreaking initiative last Thursday. Teaming up with NYK Bulk & Project Carriers Ltd., Sumitomo Corporation, and Oshima Shipbuilding Co., Ltd., they’ve cinched a collaborative agreement aimed at constructing an exceptional Handymax bulk carrier. This innovative vessel will be the world’s first–ship dedicated
In an unprecedented move following a detailed exploration of its 18th and 19th-century ledger books, Lloyd’s of London has taken the humongous responsibility of reconciling its dark past connected with the slave trade. After granting full access to independent researchers from Johns Hopkins University, Lloyd’s admitted their past indiscretions and pledged an astonishing $50 million
Unveiling Lloyd’s Dark Legacy: A $50 Million Amends Read More »
Retracting Storage Capacity Leading commodities trading establishment, Gunvor, has plans in the pipeline to relinquish a portion of its fuel oil storage capacity in Singapore. According to unofficial sources quoted by Reuters, the firm is gearing up to forfeit about 600,000 cubic meters of its fuel oil storage at the highly acclaimed Oiltanking Seraya terminal.
Gunvor to Step Back from Fuel Oil Storage Capacity in Singapore Read More »
A Long-Standing Sea Protest Turns Costly Shell Group is taking significant legal action against the environmental watchdog Greenpeace, in the form of a staggering $2.1 million lawsuit. This hefty claim is in response to Greenpeace activists’ 13-day protest aboard a floating production storage and offloading unit (FPSO). This unprecedented event stands as one of the
Clash at Sea: Greenpeace Faces Shell’s $2.1M Lawsuit” Read More »
In an unprecedented series of events, global logistics giant Hapag-Lloyd recently experienced a seismic drop in their third-quarter earnings. The world-renowned container line ranked fifth globally, witnessed a staggering 94.4% dip in profits amid a continuously lackluster container market. Underwhelmingly, Hapag-Lloyd claimed profits of $293 million in the recently concluded quarter, a significant drop from
An Unforeseen Plunge: Hapag Lloyd’s Take a Steep Drop Read More »
Transforming Maritime Operations Pelagius 3D recently made waves in the maritime industry with its innovative delivery of a 3D-printed Return Oil Standpipe to Wallenius Wilhelmsen’s RoRo vessel TYSLA in Kobe, Japan. The project was a collaborative endeavor, bringing together Kawasaki Heavy Industries and Wilhelmsen Ship Management. Traditional methods for procuring, fabricating, and delivering specific spare
Revamping the Maritime Spare Parts Supply Chain: The Power of 3D Printing Read More »
The U.S. Navy has recently marked another significant advancement in its naval capabilities with the latest addition to its inventory, the futuristic Ship to Shore Connector (SSC), also known as Landing Craft, Air Cushion (LCAC) 108. This stellar marine vessel, optimized for maximum efficiency and performance, is a product of the cutting-edge defense technology company,
Dawn of a High-speed Era: Newest Landing Craft Joins U.S. Navy Fleet Read More »
AP Moller-Maersk, a titan in global shipping, is making striking strides in preserving the environment. Leading the charge in reducing fuel consumption, it looks poised to attain the lowest fuel usage in seven years by 2023. The downturn in bunker consumption materializes from the company’s targeted moves towards fuel-efficient fleet operations amidst a gradually weakening
Steering Towards Greener Waters: AP Moller-Maersk’s Spin on Fuel Efficiency Read More »
Spanish Shores Strip Another Sailboat A crew of audacious orcas off Spain’s coast targeted another yacht, this recent event occurring close to the Strait of Gibraltar, confirms renowned Polish sea-training provider, Morskie Mile. This incident transpired on October 31, when the leisure vessel, en route westward across the Strait close to Morocco, found itself under
Orca Onslaught: Second Yacht Capsizes Off Spain’s Coastline Read More »
