Thursday, November 21, 2024
Media Kit
Susan Rose (file image courtesy Town Dock)

Video: Resolve Marine Raises Wreck of the Susan Rose

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Port of Los Angeles

SoCal Port Volumes at Record Pace Driven by Economy and Uncertainties

Published Nov 20, 2024 5:33 PM by The Maritime Executive

Cargo volumes passing through Southern California’s twin ports of Los Angeles and Long Beach continued the strong pace seen for the past few months and set new records in October. Near-term both ports expect the strength to continue driven by the strong economy and uncertainties ranging from potential labor unrest on the U.S. East and Gulf Coasts and the prospects of increased tariffs under the Trump presidency. The Port of Los Angeles reported today, November 20, that it...

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Dockers on strike in Piraeus

Greek Dockers and Mariners Join 24-Hour General Strike Over Inflatiion

Published Nov 20, 2024 5:33 PM by The Maritime Executive

  Greek dockers and mariners have joined in a 24-hour general strike in Athens, hampering cargo operations at Cosco-run container terminals at the port of Piraeus.  The Panhellenic Maritime Federation has joined in the strike, implementing a shutdown on coastal shipping beginning at 0001 hours Wednesday. Ro/ro ferry mariners joined in with demonstrations at ramp landing piers, demanding higher wages to keep up with inflation, action to address a housing affordability crisis, and more measures to increase safety.  "The Greek...

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Korean shipbuilding

Korean Shipbuilders Expect Strong 2025 While Looking to Trump Presidency

Published Nov 20, 2024 4:13 PM by The Maritime Executive

  South Korea’s shipbuilding industry is projecting another strong year as part of a multi-year supercycle in orders while also looking to the second presidency of Donald Trump to be a boon to the industry. Despite growing competition from Chinese shipbuilders, the Koreans are expressing confidence in part due to their focus on high-value shipbuilding, new technologies, and an increased focus on navy shipbuilding and repair for the U.S. Navy and others. The expectations for 2024 were reserved with many...

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Yi Peng 3 passes under the Storebaelt Bridge (Storebalt Bridge webcam)

Denmark Guards Chinese Bulker Linked to Subsea Cable Damage

Published Nov 20, 2024 4:09 PM by The Maritime Executive

Denmark's defense ministry has confirmed that it is monitoring a Chinese bulker suspected of potential involvement in the severing of two subsea cables in the Baltic last weekend. The damage is being investigated as a presumed sabotage attack.  The vessel, the Yi Peng 3, was outbound from St. Petersburg in the Baltic during the timeframe of the two back-to-back cable breaks. Its AIS record shows that it exhibited unusual course and speed changes at positions that may have corresponded to...

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Offshore

Australia offshore wind farm

Australia’s Star of the South Revises Plan Based on Feasibility Studies

  A large wind project widely considered to be Australia’s first large offshore wind farm provided a critical update defining the project after five years of feasibility studies and consultations. The Star of the South, which received its exploration license in 2019 continues to be at the forefront as Australia moves towards its first offshore wind farms. “We’ve learned a lot since we first set out to explore the potential for offshore wind in Gippsland five years ago,” said Star...

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Shipbuilding

Vard Vung Tau (Fincantieri file image)

Fincantieri Inks Order for Five Walk-to-Work Vessels for Offshore O&G

Fincantieri subsidiary Vard has won a contract for the construction of five walk-to-work offshore service vessels for the oil and gas industry - a change from years past, when the offshore wind industry was the primary customer base for this specialty segment.  "We are very pleased to further consolidate our role as a trusted partner and leader in the specialized vessels sector, an area fully aligned with our Industrial Plan for sustainable growth," said Pierroberto Folgiero, CEO and Managing Director...

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Environment

green shipping corridor

Report: Green Corridors Face “Feasibility Wall” Due to Fuel Costs

  A new report warns that a “feasibility wall” could jeopardize the significant progress being made for the adoption of green corridors, a key part of efforts to support sustainable shipping. The Getting to Zero Coalition and the Global Maritime Forum report that the lack of policies to bridge the cost of switching to zero-emission fuels has emerged as the number one bottleneck creating a “feasibility wall” risking the implementation of the concept. The initiative to form green corridors as...

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Business

jackup rigs

Keppel Seeks to Monetize Legacy Rigs as Offshore Energy Sector Rebounds

  Opportunities are emerging in the offshore energy sector as the market improves prompting Singapore-based Keppel to announce it will take direct control of 13 offshore rigs that are part of its former offshore and marine business. The new transaction is a follow-up to the $3.3 billion combination of Keppel Offshore & Marine and Sembcorp Marine which created Seatrium Offshore & Marine in 2023. Keppel highlights that the global drilling fleet is aging rapidly and that during the prolonged downturn,...

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