Saturday, January 25, 2025
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Cash

Op-Ed: Tide is Turning on Maritime Corruption, But We Must Finish the Job

Published Jan 24, 2025 1:15 PM by Cameron Mitchell

  The maritime industry is notoriously susceptible to the virus of corruption. However, after spending a year as member of the Maritime Anti Corruption Network (MACN), I believe we are starting to see signs that concerted action is beginning to pay off.  It is now becoming better understood that the layers of bureaucracy that surround a ship in port - up to seven industry organizations and seven government bodies - can no longer be exploited with impunity. The MACN can take large...

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Russian tanker in Poland

Russian Tanker Abandoned in Poland Draws Renewed Interest

Published Jan 24, 2025 1:01 PM by The Maritime Executive

A Russian-registered product tanker languishing in the Port of Gdynia is drawing renewed interest from Polish authorities. According to a report on Poland’s Radio ZET, new security concerns as well as safety issues with the tanker were raised in light of the ongoing investigation in Finland into the Eagle S tanker and a lack of maintenance on the vessel which has been docked in Gdynia since 2017. The product tanker Khatanga (23,000 dwt) was detained at the Port...

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Iranian speed boats

Vessels Approached and Hailed as Iran Stages Persian Gulf Naval Exercise

Published Jan 24, 2025 9:26 AM by The Maritime Executive

Reports coming from the Persian Gulf and the area around the vital Strait of Hormuz indicate that one vessel was approached and others contacted and instructed to alter course toward Iranian territorial waters. The incidents came as Iran highlighted its naval exercises in the region. UK Maritime Trade Operations (UKMTO) which coordinates and monitors security in the region issued two warnings on Friday, January 24, while reporting the authorities were investigating. In the first, it reported a vessel...

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Finnish tactical team boards the Eagle S by helicopter, Dec. 25-26 (Finnish Border Guard)

Experts Scrutinize "Accident" Explanation for Baltic Cable Damage

Published Jan 23, 2025 10:09 PM by The Maritime Executive

Over the past week, U.S. and Finnish intelligence officials have told media that there is no evidence that Russia was behind the cutting of five subsea cables in the Gulf of Finland on Christmas Day, and that the tanker that caused the damage likely dragged anchor for 50 miles by accident. But the "accident" claim is drawing pushback in Finland and Sweden, which were affected most by recent suspected subsea sabotage.  The incident on Dec. 25-26 was the third...

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Offshore

Vigo

High Seas Bust on Russia-Bound Boxship Leaves Spanish Police Empty-Handed

  After a high seas boarding, Spain's Guardia Civil brought the boxship Baltic Summer into port at Vigo to be searched for drugs - the latest in a series of busts at the quiet port of Vigo, just north of the Portuguese border. This time, however, the authorities came away empty-handed. Baltic Summer was under way on a voyage from Puerto Bolivar, Ecuador when it was stopped by Spanish authorities and diverted to the harbor at Vigo, with assistance from...

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Shipbuilding

LNG fueled containership bunkering

New $2.6B Containership Order in Korea Linked to CMA CGM

The boom in containership construction and the transition to alternative fuels continues with South Korea’s HD Korea Shipbuilding & Offshore Engineering reporting its first order of 2025. The shipbuilder which is part of HD Hyundai booked an order valued at approximately $2.58 billion which is being widely linked to French shipping giant CMA CGM Group. Reports from South Korea reported a letter of intent was in place and the industry was broadly reporting the order as a follow-on...

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Environment

The vast expanse of A23a near South Georgia (BFSAI)

World's Largest Iceberg Drifts Slowly Towards South Georgia

The world's largest iceberg is slowing heading towards the island of South Georgia, where it may have serious affects on local wildlife.  Iceberg A23a is so big that it ihard to visualize: at 1.1 million acres in area, it is about 75 times larger than Manhattan (and shrinking). Fornow, it measures about 40 nautical miles by 32 nautical miles on a side, and it weighs about one trillion tonnes. Its sheer sides tower more than 1,300 feet above the water,...

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Business

PSV vessel offshore

Havila Shipping Disputes Allegations of Default by Banks in Refinancing

  Offshore services provider Havila Shipping is disputing claims by three of its bank lenders that the company is in default of its refinancing agreements. The company had worked for months before reaching terms in October 2024 to refinance nearly $91 million of debt due at the end of 2024 related to four now sold vessels and two that it continues to operate. Havila is one of Norway’s large supply service companies to the international offshore energy industry. The company...

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