In a recent turn of events, Maersk – the world’s largest public shipping firm renowned as the global trade barometer, has revealed a rather gloomy picture of the market outlook for the rest of 2023. A deeper-than-projected market normalization appears to be on the horizon, despite the unexpectedly robust performance in the first half of […]
At the break of this week, exciting new strides have been made in the renewable energy sector. The work of installing the world’s largest offshore wind farm at Dogger Bank, UK, has commenced. The completion of this colossal project by 2026 is expected to curate an impressive 3.6 GW of electrical power. The expectation surpasses
Unleashing the Power of Offshore Wind at Dogger Bank Read More »
A Significant Deal with a Major International Car Producer Norwegian car carrier giant Höegh Autoliners has inked a momentous five-year agreement for transporting cars from the US to the Middle East. Although the name of the client remains undisclosed, the company revealed that it is a “major international car producer.” The financial details of the
Höegh Autoliners Secures 5-Year Car Transport Deal between the US and the Middle East Read More »
Carriers Outperform Retailers in Tracking Shipping Emissions A recent report card released by the Ship It Zero campaign has shed light on the shipping industry’s progress toward decarbonization. The report evaluated major retailers and shipping carriers based on their efforts to reduce emissions and develop zero-emission fuels for maritime shipping. Evergreen, Hapag-Lloyd, Pacific International Lines,
Shipping Industry’s Report Card Reveals Varied Commitment to Decarbonization Read More »
Daring Protest atop Prime Minister’s House In a remarkable display of defiance, Greenpeace activists scaled the private residence of UK Prime Minister Rishi Sunak to voice their opposition to expanded offshore drilling. Perched on the roof, they unfurled a bold sign calling for “no new oil,” drawing attention to the urgent need for climate action.
Climbing Activists Take On UK Prime Minister’s House to Protest Offshore Drilling Read More »
The Methanol Advance In a surprising turn of events, orders for methanol-fuelled ships surpassed those of LNG-fuelled vessels for the third consecutive month in July. These insights were provided by the classification society DNV. Martin Wold, an esteemed consultant in DNV’s Maritime Advisory business, highlighted a notable discrepancy; there were a mere 14 LNG-fuelled ship
Wave of the Future: Methanol-Fueled Ships Trump LNG in Latest Orders Read More »
As we step into the 2020s, methanol is emerging as the forerunner in the race for alternative fuels. With a record-breaking number of orders for new builds and retrofits flooding in, the maritime industry concludes an unavoidable shift towards methanol power. Neoteric data from DNV’s Alternative Fuels Insight platform illuminates methanol’s rising dominance. In the
The Dawn of Methanol: The Fuel of the Future Read More »
In the throes of escalating tensions with the United States in the Gulf region, Iran’s Revolutionary Guards’ navy pulled back the veil on its fleet of new vessels. According to the semi-official Tasnim news agency, these vessels are armed with missiles carrying a significant range of 600 kilometers. The announcement came in stride with a
Iran’s Elite Navy: A Display of Power Amid Rising Tensions Read More »
Attacking Ukraine’s Lifeline Russia has once again targeted southern Ukraine’s strategic Odesa region, including the vital Danube River port of Izmail, with drone attacks. These strikes have hit the significant infrastructure used to facilitate grain shipments. This onslaught comes amidst the ongoing blockade of Ukrainian Black Sea ports by Russia. Ukraine’s defense ministry relayed the
Unsettling Waves: Russia’s Drone Attacks on Ukraine’s Vital Grain Shipment Paths Read More »
New Dawn as Dry Bulk Companies Recover from a Financial Abyss As we delved into the financial ruins of dry bulk listed companies last February, we spectacularly portrayed a distressing narrative. Like a telltale EKG tracing, we traced the accumulated deficit at the end of December 2020. The shocking $9.5bn collective loss, tracked in our
A Bright Future Unfolding: Dry Bulk Listed Companies’ Deficit Decreasing Read More »
