A surge in the price of steel is beginning to have an impact across the shipping industry. Shipbuilders are expected to experience the strongest pressures, but the rise in the component price is also expected to cause an increase in the price of newbuilds and is even impacting the ship recycling sector. Analysts have been […]
Trading under the African Continental Free Trade Area (AfCFTA) agreement started on 1 January 2021, a significant milestone for Africa’s political and economic aspirations. The deal created an enormous single market, uniting 1.2 billion people across 54 states with a combined GDP of $3.4-trillion. The standard expectation would be that AfCFTA trading — taking place […]
The international advocacy organization for ocean conservation Oceana released a new report again showing that most vessels are exceeding speed limits in areas designed to protect critically endangered North Atlantic right whales. The report from the environmental group Oceana analyzed vessel speeds from 2017 to 2020 in speed zones established by the National Oceanic and […]
In an interview given in advance of the annual Sea-Air-Space symposium, the U.S. Navy’s top officer has provided an unusually frank assessment of the limitations of the service’s oldest and newest platforms. The first Ticonderoga-class cruisers, built in the 80s, are having trouble seeing modern missile threats using near-obsolete radar systems. Meanwhile, the brand new […]
Mitsui E&S Shipbuilding Co. announced the delivery of a new 66,000 dwt bulk carrier. The twenty-third vessel in its class, it was significant because it is the last merchant vessel to be built by the Japanese company. After years of financial losses in its shipbuilding operation, Mitsui announced this spring that it had completed a […]
Bar Harbor, Maine is moving to become the latest popular tourist destination to impose further restrictions on cruise ship visits. The move comes after town residents voiced their concerns over the overcrowding and congestion created by cruise ships during the 2019 season. The issue of the cruise ships’ impact on the small town has been […]
[By David Uren] Globalization is back with such a vengeance that the shipping lines are struggling to keep up, sending freight rates to astronomic levels. The onset of the pandemic early last year slashed trade volumes and highlighted the vulnerability of the extended supply chains that are the hallmark of globalization, with different elements of […]
The auction of the assets of Bouchard Transportation Company proceeded on July 18 under the process approved by the bankruptcy court. Before the auction, the reorganization officer for the oil barge transport company had selected an initial bid of $110 million for assets, which included 12 barges and 17 tugboats. Reports indicate, however, that the […]
Aero Africa, the Hong Kong based air cargo management group, has welcomed two new specialists to its management team. Aero Africa Southern Africa has announced the appointment of Kati Mackay as regional financial manager. Mackay will be responsible for the financial resources at Aero Africa, supporting the executive management team and offering insights and financial advice. […]
The world’s first hybrid-powered daughter craft boats for the offshore wind market will be built in the UK for North Star Renewables, the offshore wind division of longtime offshore vessel operator North Star. Daughter craft are used by in the European offshore wind industry to transfer technicians between a large service operations vessel (SOV) – […]
The UK Marine Accident Investigation Branch (MAIB) has completed its inquiry into the blast aboard the chemical tanker Stolt Groenland in 2019, finding that heated cargo tanks in nearby compartments likely caused dangerous warming of a temperature-sensitive cargo. On September 28, 2019, a cargo tank containing styrene monomer on board the Cayman Islands-registered chemical tanker […]
Sixteen months after the cruise industry paused operations, the largest cruise corporation, Carnival Corporation, now reports that it hopes to have as much as three-quarters of fleet capacity in operation by the end of 2021. Five of the company’s brands are currently sailing, with it expected to expand to eight brands in the coming days […]
