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KR & HD Hyundai Sign Business Agreement for Cloud-Based Smart Ship Solution

KR & HD Hyundai Sign Business Agreement for Cloud-Based Smart Ship Solution

By The Maritime Executive
June 11, 2024
[By: Korean Register] KR has signed an MoU with HD Hyundai to collaborate on the pilot project of a cloud-based next-generation smart ship solution (ISS 2.0) developed by HD Hyundai, on June 4th at...
Panama Canal Continues to Restore Capacity After Drought

Panama Canal Continues to Restore Capacity After Drought

By The Maritime Executive
June 11, 2024
  The Panama Canal Authority scheduled further efforts designed to increase capacity and reduce some of the restrictions that had been impacting transits for a year at the waterway. The latest step...
Hull Stress or Steel Fatigue Suspected After Laker Takes on Water

Hull Stress or Steel Fatigue Suspected After Laker Takes on Water

By The Maritime Executive
June 11, 2024
  Investigators examining the 72-year-old Great Lakes bulker Michipicoten now suspect the vessel suffered steel fatigue or a form of hull stress that caused the flooding incident on Saturday, June...
Freighter Catches Fire at Israeli Port of Haifa

Freighter Catches Fire at Israeli Port of Haifa

By The Maritime Executive
June 10, 2024
On Monday, a fire broke out aboard a Turkish-owned cargo ship at the port of Haifa, prompting a large-scale response.  The general cargo ship Yaf Horizon arrived in Haifa from Russia on June 9, car...
Middle Eastern Financier Buys Danish Ship Finance

Middle Eastern Financier Buys Danish Ship Finance

By The Maritime Executive
June 10, 2024
UAE-based investment firm Magellan Group has purchased a majority stake in Danish Ship Finance, a landmark financial institution based in Copenhagen. The price paid was about $750 million, Magellan to...
Maritime Executive

U.S. Treasury Sanctions Two Captains for Smuggling Iranian Oil

By The Maritime Executive
June 10, 2024
  In a rare move targeting mariners, the U.S. Department of the Treasury has added two captains to its list of people who have been blacklisted for helping move Iranian-linked oil. It is a rare ins...
Baltimore’s Federal Channel Fully Restored 76 Days After Dali Hit Bridge

Baltimore’s Federal Channel Fully Restored 76 Days After Dali Hit Bridge

By The Maritime Executive
June 10, 2024
  The federal navigation channel for Baltimore harbor was fully restored as of late on Monday, June 10, just 76 days after the Dali knocked down the Francis Scott Key Bridge. The US Army Corp of En...
U.S. Coast Guard Busts Nine Venezuelans for Smuggling Cocaine

U.S. Coast Guard Busts Nine Venezuelans for Smuggling Cocaine

By The Maritime Executive
June 10, 2024
  Last week, a U.S. Coast Guard cutter crew intercepted a suspicious boat and arrested nine Venezuelan nationals with a cargo of $7 million worth of cocaine.  Early on June 3, the crew of the cu...
Noble Corp. Buys Diamond Offshore Continuing Sector Consolidation

Noble Corp. Buys Diamond Offshore Continuing Sector Consolidation

By The Maritime Executive
June 10, 2024
  Noble Corporation announced its third acquisition since emerging from bankruptcy as the company continues to drive consolidation in the offshore drilling sector. In a deal valued at approximately...
Strong Consumer Demand Drives Up TEU Imports but Also Widens U.S. Trade Gap

Strong Consumer Demand Drives Up TEU Imports but Also Widens U.S. Trade Gap

By The Maritime Executive
June 10, 2024
  With strong consumer spending continuing, container import levels at the major U.S. ports are expected to reach their highest levels in two years. The National Retail Federation raised for the se...

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