WFW Advises on Financing for ONE Newbuild Fleet
Watson Farley & Williams (WFW) advised a consortium of lenders on an ECA-backed JOLCO financing for Ocean Network Express Pte. Ltd. (ONE) to finance four newbuild container vessels. The consortium comprised BNP PARIBAS (acting through its Tokyo Branch and as ECA Coordinator), The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch and Citibank, N.A., Tokyo Branch (as mandated lead arrangers)…
The Gulf of America Can Lead in Carbon Storage, If Washington Acts
The United States has everything it needs to lead in offshore carbon capture and storage (CCS), except the rules to make it happen.Nearly four years ago, Congress gave the Department of the Interior authority to oversee offshore carbon sequestration. The Infrastructure Investment and Jobs Act (IIJA) of 2021 amended the Outer Continental Shelf Lands Act (OCSLA) to authorize competitive leasing and regulation of carbon dioxide injection into subsea formations on the U.S.
Plug and Play: Fleetzero, Glosten Team on Record Hybrid Electric Vessel
As battery technology evolves at speed, so too do developments on maritime's increasing use of the energy packs for hybrid and pure electric applications. Today, Fleetzero, a developer and manufacturer of modular propulsion platforms for hybrid and electric ships, selected Glosten to design what is expected to be the world’s longest-range hybrid electric vessel. Glosten has been working with Fleetzero on the retrofit of a Lightering Support Vessel owned and operated by AET.
Ukraine Strikes Russian Port in Astrakhan
The Ukrainian military said it struck the port of Olya in Russia's Astrakhan region on Thursday, hitting a ship with drone parts and ammunition from Iran.Russia uses the port as an important logistics hub for the supply of military goods from Iran, the Ukrainian military said in a statement on Friday.(Reuters - Reporting by Anastasiia Malenko; Editing by Christian Schmollinger)
Conrad Industries Announces 2025 Income Jump
Conrad Industries has announced a net income of $5.8 million for the quarter ended June 30, 2025.Earnings per diluted share of $1.16 compared to net income of $2.2 million and earnings per diluted share of $0.44 during the second quarter of 2024.The company had net income of $9.7 million and earnings per diluted share of $1.93 for the six months ended June 30, 2025 compared to net income of $3.7 million and earnings per diluted share of $0.75 for the six months ended June 30…
One Bio-LNG Step Forward, One Back
This week, Van Oord’s trailing suction hopper dredger Vox Ariane completed its first bunkering of bio-LNG.The move follows the July news that NYK has started the continuous use of bio-LNG fuel on its LNG-powered car carriers.There’s been more firsts this year. In February 2025, Furetank conducted its first bio-LNG bunkering. In March, Titan and Mitsui OSK Lines (MOL) completed the first bio-LNG bunkering operation of a multi-year contract.
Wine Down Under
Brad Adams, co-founder of Subsea Estate in Western Australia, has just retrieved vats of his latest wine from the seabed just off the coast of Augusta.Partnered with wife and co-founder Jodee Adams and chief wine maker Emmanuel Poirmeur, he is creating a product unique in the southern hemisphere.For the last two years, Subsea Estate has produced Semillon and Shiraz that has undergone its secondary…
DFDS Wins Danish Shipping Diversity Award
The shipping company DFDS has received the Danish Shipping Company's Diversity Award 2025 at Danish Shipping Company's annual event in connection with Copenhagen Pride.DFDS was nominated for the 2025 Diversity Award in recognition of its strategic and courageous efforts for diversity, equality and inclusion. The jury particularly highlights DFDS' strong leadership anchoring, where DEI goals are integrated into both KPIs and bonus schemes…
Heather Alpha Topside Removed in 14 Seconds
EnQuest completed the removal of the Heather Alpha topsides on August 11.The Allseas-owned Pioneering Spirit heavy lift vessel removed the 15,300 tonne topsides in a single lift, the largest single lift planned in the North Sea this year.EnQuest Decommissioning Director, John Allan, said: “The Pioneering Spirit completed the lift in around 14 seconds, but that astonishing reality was only made possible by three years of meticulous planning, engineering and preparation works.
Fincantieri Sues Insulation Producer
Fincantieri has sued an Owens Corning company for fraud, claiming it was sold faulty fire-retardant panels.Two ships subsequently needed repairs that delayed their launch and another nine ships are affected, both cruise and military vessels.The suit was filed in Ohio last month, and Fincantieri is asking for over $100 million in damages and citing the reputational harm it caused due to media coverage…
Panama Canal to Launch Tender for Two New Ports
The Panama Canal will soon begin consultations with companies about launching a competitive tender in the first quarter of next year offering two new ports for construction and operation within its zone, a source involved in the preparations said on Thursday.The ports are part of a broad expansion plan being organized by the waterway's administration. It aims to increase services related to cargo handling…
The Five Ws (and How) of the IMO Polar Code
Since coming into force, the IMO Polar Code has had a positive effect on maritime operations in polar waters, write Dan Oldford and Ed Moakler, ABS HETC, St. John’s, Newfoundland and Labrador.What is the Polar Code, When and Why did it come into force?Polar regions have many unique hazards compared to warmer waters around the world. Since the earliest explorers sought to explore the Arctic and Antarctic by ship…
Can an Arctic Shipbuilding Alliance Break the Ice on Long-Term Strategic Collaboration?
Without a way for industry to work together, the US, Canada, and Finland will not achieve the aims of the ICE pact, writes Denis Morais, CEO SSI.The United States and Canada have made no secret of their desire to add to their ice-breaking capacity, with ambitious plans to build the new tonnage in their home countries.The US has indicated it could need as many as 40 new icebreaking vessels, in addition to ice-class tonnage that could be required to support operations in the high north.
Star Information Systems Data-Driven Asset Management with Sharecat Acquisition
Star Information Systems (STAR) has acquired Sharecat, a provider of solutions for managing and improving technical data quality for complex industrial operations.STAR delivers advanced systems for maintenance, operations planning, procurement, logistics, and master data management, mainly for the maritime sector. The company has grown significantly over over the past four years and is on track to…
Port of Los Angeles Reports Busiest Month Ever
July was the busiest month on record in the 117-year history of the Port of Los Angeles. The Port handled 1,019,837 Twenty-Foot Equivalent Units (TEUs), 8.5% more than last July. Retailers and manufacturers brought in goods at an elevated pace due to concerns of higher tariffs later this year.“Shippers have been frontloading their cargo for months to get ahead of tariffs and recent activity at America’s top port really tells that story,” said Port of Los Angeles Executive Director Gene Seroka.
The Pasha Group Acquires Assets of MacMillan-Piper LLC, Tacoma Transload LLC
The Pasha Group, together with The Northwest Seaport Alliance (NWSA), announced Pasha Logistics LLC’s acquisition of certain assets of MacMillan-Piper LLC and Tacoma Transload LLC. The expansion follows the successful completion of an asset purchase agreement with the court-appointed Receiver for GSC Enterprises, Inc., which included certain assets of MacMillan-Piper LLC—a Pacific Northwest specialty transloader—and Tacoma Transload LLC.
Black Sea Task Force to Clear Mines Expands
NATO allies Romania, Bulgaria and Turkey should expand a joint task force that clears mines floating in the Black Sea to include patrols to protect energy facilities and trade routes from potential Russian attack, Romania's defence minister said.The Black Sea - especially Ukrainian waters - has been a crucial theatre of war since Russia's 2022 invasion of Ukraine, and drifting sea mines have posed a threat to shipments of grain and oil…
Fire breaks out onboard Maersk Containership
A fire broke out onboard a Maersk container vessel off the coast of Liberia on Wednesday and the crew was still battling to put out the flames a day later, the Danish shipping group said on Thursday."The crew of the Marie Maersk detected smoke coming from containers onboard the vessel en route from Rotterdam, The Netherlands to Tanjung Pelepas, Malaysia," Maersk said.The crew was safe while it attempted to keep the situation under control.
CK Hutchison: "Reasonable Chance" $22.8B Ports Sale Will Go Through
CK Hutchison said on Thursday its $22.8 billion ports business sale had a "reasonable chance" of going through after a plan to add a Chinese major strategic investor to the buying consortium, as it tries to navigate through Sino-U.S. tensions.CK Hutchison, based in the Chinese-controlled territory of Hong Kong, has faced heavy criticism from Beijing since unveiling a plan in March to sell 43 ports in 23 countries…
Bunker Sales Surge in Singapore
Singapore's marine bunker fuel sales in July climbed to their highest in more than one and a half years, official data showed on Thursday.Sales at the world's largest refuelling hub for ships totalled 4.92 million metric tons in July this year, up 7.0% month-on-month and 5.7% year-on-year, data from Singapore's Maritime and Port Authority (MPA) showed.More sales emerged as monthly container throughput hit its highest in the year at 3.87 million twenty-foot equivalent units (TEUs)…
