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Maersk Raises Profit Guidance By $3B, Blanks Asia-Med Sailings

Maersk Raises Profit Guidance By $3B, Blanks Asia-Med Sailings

By The Maritime Executive
June 3, 2024
On Monday, AP Moller-Maersk told customers that it would be canceling several sailings due to severe port congestion, and told investors to expect a $3 billion improvement in full-year EBITDA due to t...
Union Maritime Goes Big on Wind and Plans to Invest in BAR Technologies

Union Maritime Goes Big on Wind and Plans to Invest in BAR Technologies

By The Maritime Executive
June 3, 2024
  UK-based Union Maritime is going big on wind-assisted propulsion becoming one of the few ship owners to map a strategy to install rigid sails across its newbuild fleet due over the next three yea...
Shipping Industry May Create the Very First Global Carbon Levy

Shipping Industry May Create the Very First Global Carbon Levy

By Dialogue Earth
June 2, 2024
  [By Ned Molloy] At a March meeting of the UN International Maritime Organisation (IMO) in London, a majority of member states expressed support for a levy on greenhouse gases emitted by the gl...
NGO Sues Norway over Seabed Mining Approval

NGO Sues Norway over Seabed Mining Approval

By The Maritime Executive
June 2, 2024
  Environmental campaign group WWF (World Wide Fund for Nature) is moving to sue Norway for its controversial decision to open up vast parts of its continental shelf to deep seabed mining. Accordin...
Twin Disc Finalizes Deal to Acquire Katsa Oy

Twin Disc Finalizes Deal to Acquire Katsa Oy

By The Maritime Executive
June 1, 2024
[By: Twin Disc, Inc.] Twin Disc, Inc. (NASDAQ: TWIN), a global leader in power transmission technology for marine and land-based applications, announced today that it has completed the €21 million...
Floating Offshore Wind Targets to be Missed as Realism Hits Industry

Floating Offshore Wind Targets to be Missed as Realism Hits Industry

By The Maritime Executive
May 31, 2024
  The enthusiasm about offshore wind as the anchor of an energy transition in the coming decades is fast waning with stakeholders now acknowledging that global capacity targets will fall short of p...
Antwerp Terminal to be First in Belgium to Provide Shore Power Connections

Antwerp Terminal to be First in Belgium to Provide Shore Power Connections

By The Maritime Executive
May 30, 2024
  Antwerp Euroterminal, which is owned and operated by Grimaldi, will become the first terminal in Belgium to provide docked vessels in the port with electricity to address the concerns for reducin...
Damen Delivers Third FCS 2710 Hybrid Vessel to Purus

Damen Delivers Third FCS 2710 Hybrid Vessel to Purus

By The Maritime Executive
May 30, 2024
[By: Damen Shipyards Group] Damen Shipyards Group has delivered the third in an order of three Fast Crew Suppliers (FCS) 2710 Hybrids to Purus. The vessels, the first of their kind, have been desig...
Spanish Tanker Company Marflet Marine to Add Suction Sails to First Tanker

Spanish Tanker Company Marflet Marine to Add Suction Sails to First Tanker

By The Maritime Executive
May 28, 2024
  Marflet Marine, one of Spain’s oldest private shipping companies, is joining the growing list of ship operators adopting wind-assisted propulsion. The company has signed a contract to install fou...
Ørsted Agrees to Pay $125M Settlement to Cancel New Jersey Wind Farms

Ørsted Agrees to Pay $125M Settlement to Cancel New Jersey Wind Farms

By The Maritime Executive
May 28, 2024
  Seven months after announcing it was walking away from two large offshore wind farms planned for New Jersey, Ørsted and the New Jersey Board of Public Utilities agreed to settle their claims for...

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