Tuesday, February 11, 2025
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ammonia-fueled gas carrier

NYK and Yara Sign First Charter for Ammonia-Fueled Medium Gas Carrier

Published Feb 10, 2025 7:25 PM by The Maritime Executive

Efforts to develop the first ammonia value chain have taken another step forward with Japan’s NYK Line and Yara Clean Ammonia concluding the first charter for an ammonia-fueled medium gas carrier. NYK ordered the vessel’s construction in 2023 as the next step in a project initiated in 2021 as part of Japan’s Green Innovation Project Fund of the New Energy and Industrial Technology Development Organization (NEDO). The companies believe this is the first commercial contract for a vessel of this...

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Life preserver

Two Experienced Fishermen Die in Capsizing Off Nova Scotia

Published Feb 10, 2025 5:41 PM by The Maritime Executive

  The owner of the fishing vessel that capsized off Nova Scotia last week has identified the two crewmembers who lost their lives while awaiting rescue. One of the victims was a well-respected skipper with five decades of experience.  At about 2200 hours on Thursday night, the Joint Rescue Coordination Center in Halifax received an EPIRB signal from the 18-meter fishing vessel Fortune Pride, located about 10 nautical miles southeast of her homeport of Sambro, Nova Scotia. The center mobilized...

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dhow off Somalia

Suspected Somali Pirate Attack on Yemeni-Flagged Fishing Boat

Published Feb 10, 2025 4:38 PM by The Maritime Executive

The EU monitoring operation for the Horn of Africa is reporting a suspected piracy incident off the coast of Somalia. Details are limited currently as the incident is being investigated. EUNAVFOR Atalanta reports it was informed of the suspected attack on Sunday, February 9, and that it is coordinating with maritime security partners in the area. The incident is currently being investigated to confirm the circumstances. The unnamed fishing vessel is reported to be flagged in Yemen. The...

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Allegedly stolen trailer chassis at a lot in Gardena, California (LA Port Police)

LA Port Police Bust Multimillion-Dollar Trailer Theft Scheme

Published Feb 10, 2025 4:12 PM by The Maritime Executive

  Trailer theft is commonplace in America, and homeowners and contractors go to great lengths to keep thieves away from their toy-haulers and cargo trailers. But the Port of LA's police department recently busted a much larger and more organized trailer theft scheme: the department uncovered a ring of local thieves who were making off with dozens of chassis from container terminals and reselling them as new, making off with millions of dollars in ill-gotten profits.  A joint investigation by...

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Offshore

Offshore wind farm

Mitsubishi Takes $340M Impairment on its Offshore Wind Portfolio

  In its latest quarterly report, Japanese industrial conglomerate Mitsubishi revealed that it is taking a $340 million hit in connection with the reduced prospects of its domestic offshore wind portfolio, which it has placed under review.  Mitsubishi Corporation has announced plans to restructure its offshore wind portfolio in Japan, citing disruptions in the macroeconomic environment. It will be reviewing the future of three projects, including the 480 MW Noshiro Mitane Oga project off Akita Prefecture, 820 MW Yurihonjo City Offshore wind farm off Akita...

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Shipbuilding

shipbuilding

Korean Shipbuilders Top Chinese in January After Return to Profits in 2024

The rivalry between China and South Korea’s shipbuilders continues to heat up. While there is growing concern due to China’s apparent domination of the market, South Korea’s shipbuilders achieved strong results in 2024 and continue to carve out the high-end market. After posting a dismal new order performance in December booking only six percent of new orders versus 82 percent by the Chinese shipbuilders, South Korea’s industry rebounded to the leadership position in January 2025. It is the...

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Environment

LCO2 carrier

Mitsubishi Shipbuilding Advances Concept for Smaller LCO2 Carrier

  Mitsubishi Shipbuilding Co. working in conjunction with Nippon Gas Line continues to make progress on the development of its concept for a liquified CO2 carrier vessel. While much of the focus in the industry is on the need for more and larger CO2 carriers to meet the anticipated needs of the carbon capture and storage industry, this project focused on a specialized LCO2 carrier tailored to the coastal market in Japan. Mitsubishi has been actively promoting the development of...

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Business

Disney cruise ship

NYK to Expand Cruise Business Operating Japanese Disney Cruise Ship

  Japan’s NYK Line will be expanding its cruise ship operations as part of a new agreement with Oriental Land Co., the operator of the Disney theme park at the Tokyo Disney Resort. The companies entered into a partnership agreement for the operation of a Disney-themed cruise ship to be launched in Japan. Oriental Land reported in July 2024 that it planned to build a cruise ship with the Walt Disney Corporation for the Japanese market that would...

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