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landing craft

30 U.S. Sailors and Marines Injured in Landing Craft Training Exercise

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Brilliant Lady cruise ship

After Nearly Two-Year Delay, Virgin Voyages Will Launch Fourth Cruise Ship

Published May 3, 2024 5:10 PM by The Maritime Executive

  Virgin Voyages which was launched to disrupt the cruise industry with a new approach to the business is finally set to introduce its fourth cruise ship completing one of the most challenging startups. The cruise line which was announced with great promise and fanfare ran into headwinds as its introduction coincided with the onset of the COVID-19 pandemic. Virgin Voyages this week announced the September 2025 introduction of its fourth cruise ship, Brilliant Lady (110,000 gross tons), which is...

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Australia offshore wind

Australia Issues First Feasibility Licenses for Offshore Wind Farms

Published May 3, 2024 3:30 PM by The Maritime Executive

  Seeking to catch up with other parts of the developed world, Australia has issued the first of potentially a dozen feasibility licenses that could generate as much as 25 GW of electricity if all are completed. The awarding of the licenses came a year after Australia closed what it reports was a heavily oversubscribed first solicitation which included many of the best-known companies developing offshore wind assets. Australia adopted a regulatory framework for offshore wind energy at the end...

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Bulker with smoke from stack viewed from above

Cape of Good Hope Diversions Threaten CII Grades - and Show Value of Data

Published May 3, 2024 3:06 PM by Dominic McKnight Hardy

  The shipping industry has been enveloped by a sustained period of intense geopolitical volatility. Previous challenges - like the emergence of the Russian ‘dark fleet’ and the reduction in traffic through the Panama Canal - have now been superseded by the mass re-routing of vessels via the Cape of Good Hope, in order to avoid the Red Sea. Among the myriad of consequences that transiting around the Cape of Good Hope will have on the shipping industry – one...

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MSC containership

Iran Says Crew of MSC Aries is Freed if Captain Goes with Crew

Published May 3, 2024 3:05 PM by The Maritime Executive

Following through on its earlier promise this week, Iran’s Foreign Ministry is reporting the 24 crewmembers aboard the seized containership MSC Aries are free to leave. However, they added that they could depart if the captain “cooperated,” with other reports saying they were requiring the captain to also leave and abandon his ship. Iran’s Foreign Minister Hossein Amir Abdollahian told his counterpart in Estonia that the crew had been freed during a call that took place on Thursday,...

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Offshore

Australia offshore wind

Australia Issues First Feasibility Licenses for Offshore Wind Farms

  Seeking to catch up with other parts of the developed world, Australia has issued the first of potentially a dozen feasibility licenses that could generate as much as 25 GW of electricity if all are completed. The awarding of the licenses came a year after Australia closed what it reports was a heavily oversubscribed first solicitation which included many of the best-known companies developing offshore wind assets. Australia adopted a regulatory framework for offshore wind energy at the end...

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Shipbuilding

Vice Adm. B Siva Kumar leads the ceremony for the keel-laying, May 3 (Indian Navy)

India Holds Keel Laying for Next-Generation Patrol Vessels

  On Friday, the keel laying ceremony of the Indian Navy’s first Next Generation Offshore Patrol Vessels (NGOPVs) was held at Goa Shipyard. The ceremony comes over a year after the Indian Ministry of Defense finalized contracts for 11 NGOPVs under the Buy India program for indigenously designed and manufactured defense platforms. Of the 11 vessels, seven will be built by GSL and the other four by Garden Reach Shipbuilders and Engineers (GRSE), Kolkata. The total cost of this indigenous...

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Environment

BV

Energy Insetting is the Key to Unlock the Potential of Future Fuels

  The maritime industry is facing an ever-tightening regulatory environment in its efforts to achieve its ambitious net-zero target by the middle of this century. For meaningful progress to be achieved, the industry needs two things: practical solutions, together with a detailed understanding of the actual impact of various long and short-term measures on the industry’s future decarbonization pathway. This extends beyond purely technical considerations, encompassing the entire value chain, and accounting...

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Business

Maersk containership

Maersk Raises 2024 Outlook While Cautioning of Long-Term Challenges

  Maersk reported what management called “a positive start” to the year in its first quarter results that was in line with expectations which prompted the company to raise its overall outlook for 2024 despite continued challenges. In a perverse sense, the Houthis’ attacks and disruptions in the Red Sea helped the company but failed to excite the investment community. The result was the stock declined more than four percent with many analysts saying the guidance was disappointing. The price...

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