Sunday, February 02, 2025
Media Kit
Song of America cruise ship

Royal Caribbean’s Second-Generation Innovator Departs for Scrap

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Washington State Ferry

Historic Washington State Ferry Cheats Scrappers to Become Floating Office

Published Jan 31, 2025 4:27 PM by The Maritime Executive

One of the storied ferries familiar to residents of Washington State for its more than 50 years of service is cheating the scrappers and by a quirk of fate will be saved through creative reuse.  Everett Ship Repair and Washington State Ferries have reached terms to see the Elwha, which was built in 1967, repurposed at the shipyard. Last fall, Elwha, which had been retired in 2020, was due to slip away on a towline bound for dismantling...

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German shipbuilder

Rescue Plan Emerges for Germany’s FSG and Nobiskrug Shipyards

Published Jan 31, 2025 2:44 PM by The Maritime Executive

  At a press conference on Friday, January 31, at the now closed FSG Shipyard (Flensburger Schiffbau-Gesellschaft) the provisional insolvency administrators announced their rescue plan for the group’s two shipyard groups. They have reached terms for the two divisions to be sold independently of each other but also reported that investor Lars Windhorst continues to oppose the bankruptcy of the shipyard group. “We have managed to find two renowned strategic investors for FSG and Nobiskrug within the extremely tight time...

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shipyard fire

Video: Massive Fire Damages Shipyard in Egypt

Published Jan 31, 2025 1:17 PM by The Maritime Executive

  [Brief]  A massive fire broke out overnight in one of the Egyptian shipyards south of the Suez Canal. According to local media reports the yard area that was damaged by the fire was used for fishing boats and pleasure craft. The fire began late on Thursday, January 30, and burned for approximately six hours. Teams from the Suez Governorate responded but according to the reports, the efforts were hampered by the flammable materials used in the shipyard.  

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Norwegian reefer cargo ship

Norway Releases Reefer Cargo Ship After Investigation into Cable Damage

Published Jan 31, 2025 10:52 AM by The Maritime Executive

Norwegian authorities late on Friday, January 31, reported they have released a Norwegian-owned reefer cargo ship used in the fish trade after a day-long investigation. It was the latest vessel to be detained in the growing investigations into damaged cables in the Baltic. Norwegian police confirmed in a briefing this morning that they had directed the vessel, the Silver Dania, into the port of Tromsø and were aboard searching the vessel and interviewing the Russian crew. The police...

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Offshore

Shell logoed wind turbine

Shell Takes $1B Charge as it “Pauses Involvement” in U.S. Offshore Wind

Oil major Shell is continuing to reduce its involvement in renewable energy and offshore wind including effectively ending its involvement with the U.S. offshore wind energy sector. Buried within today’s year-end 2024 financial report is a note that results include impairment charges of more than $1 billion “mainly relating to renewable generation assets in North America.” The company has been moving away from its previous push into renewables as part of a strategy that CEO Wael Sawan described...

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Shipbuilding

German shipbuilder

Rescue Plan Emerges for Germany’s FSG and Nobiskrug Shipyards

  At a press conference on Friday, January 31, at the now closed FSG Shipyard (Flensburger Schiffbau-Gesellschaft) the provisional insolvency administrators announced their rescue plan for the group’s two shipyard groups. They have reached terms for the two divisions to be sold independently of each other but also reported that investor Lars Windhorst continues to oppose the bankruptcy of the shipyard group. “We have managed to find two renowned strategic investors for FSG and Nobiskrug within the extremely tight time...

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Environment

containership

Report: Targeted Subsidies, Hefty GHG Levy Needed to Ensure E-Fuel Adoption

A new report looking at what will be needed to spur the transition to e-fuels and the early adoption in the maritime sector concludes that targeted subsidies and a hefty GHG levy are needed to close the gap between scalable zero-emission fuels and other compliance options. The analysis was timed to the International Maritime Organization’s upcoming negotiations ahead of the Maritime Environment Protection Committee (MEPC) meeting this summer to adopt the second phase of the strategy for the...

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Business

Hapag-Lloyd containership

Hapag's Preliminary Results Show Financial Strength of Boxships in 2024

  Hapag-Lloyd released preliminary financial results for 2024 coming in at the top of the profitability forecasts the company had already revised upward in October 2024. As the first of the major carriers to release results it also gives a glimpse into the financial strength of the sector despite what was seen as a very challenging year. The preliminary figures show an anticipated quadrupling of earnings in the fourth quarter from a nearly breakeven level in 2023 to a profit...

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