Saturday, May 04, 2024
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Australia offshore wind

Australia Issues First Feasibility Licenses for Offshore Wind Farms

Published May 3, 2024 3:30 PM by The Maritime Executive

  Seeking to catch up with other parts of the developed world, Australia has issued the first of potentially a dozen feasibility licenses that could generate as much as 25 GW of electricity if all are completed. The awarding of the licenses came a year after Australia closed what it reports was a heavily oversubscribed first solicitation which included many of the best-known companies developing offshore wind assets. Australia adopted a regulatory framework for offshore wind energy at the end...

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Bulker with smoke from stack viewed from above

Cape of Good Hope Diversions Threaten CII Grades - and Show Value of Data

Published May 3, 2024 3:06 PM by Dominic McKnight Hardy

  The shipping industry has been enveloped by a sustained period of intense geopolitical volatility. Previous challenges - like the emergence of the Russian ‘dark fleet’ and the reduction in traffic through the Panama Canal - have now been superseded by the mass re-routing of vessels via the Cape of Good Hope, in order to avoid the Red Sea. Among the myriad of consequences that transiting around the Cape of Good Hope will have on the shipping industry – one...

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MSC containership

Iran Says Crew of MSC Aries is Freed if Captain Goes with Crew

Published May 3, 2024 3:05 PM by The Maritime Executive

Following through on its earlier promise this week, Iran’s Foreign Ministry is reporting the 24 crewmembers aboard the seized containership MSC Aries are free to leave. However, they added that they could depart if the captain “cooperated,” with other reports saying they were requiring the captain to also leave and abandon his ship. Iran’s Foreign Minister Hossein Amir Abdollahian told his counterpart in Estonia that the crew had been freed during a call that took place on Thursday,...

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warship escort

Houthis Escalate Threats Against Shipping Launching “Fourth Stage”

Published May 3, 2024 2:01 PM by The Maritime Executive

  The leader of the Houthi movement called for a further escalation of the attacks on shipping citing the potential attack on the city of Rafah and as Western pressure grows on Hamas to accept the terms of a proposed ceasefire. The statements came during their weekly demonstrations in Sanaa staged on Fridays and after a week of increased assaults targeting commercial vessels and U.S. warships. “The Yemeni armed forces announce the beginning of the implementation of the fourth stage...

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MORE STORIES BY CATEGORY

Offshore

Australia offshore wind

Australia Issues First Feasibility Licenses for Offshore Wind Farms

  Seeking to catch up with other parts of the developed world, Australia has issued the first of potentially a dozen feasibility licenses that could generate as much as 25 GW of electricity if all are completed. The awarding of the licenses came a year after Australia closed what it reports was a heavily oversubscribed first solicitation which included many of the best-known companies developing offshore wind assets. Australia adopted a regulatory framework for offshore wind energy at the end...

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Shipbuilding

ammonia fueled product tanker

Trafigura Joins Pioneers Ordering Ammonia-Fueled Vessels from HD Hyundai

  Global commodities trader Trafigura group is joining the growing list of pioneers committing to ammonia-fueled vessels. The company has ordered four dual-fueled product tankers for LPG or ammonia transport as part of the group’s growing efforts to decarbonization. With the vessels scheduled for delivery in 2027, Trafigura will be at the forefront of ammonia-fueled propulsion. The company provided only a few basic details reporting that it ordered four medium gas carriers capable of using ammonia for propulsion when they...

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Environment

BV

Energy Insetting is the Key to Unlock the Potential of Future Fuels

  The maritime industry is facing an ever-tightening regulatory environment in its efforts to achieve its ambitious net-zero target by the middle of this century. For meaningful progress to be achieved, the industry needs two things: practical solutions, together with a detailed understanding of the actual impact of various long and short-term measures on the industry’s future decarbonization pathway. This extends beyond purely technical considerations, encompassing the entire value chain, and accounting...

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Business

Maersk containership

Maersk Raises 2024 Outlook While Cautioning of Long-Term Challenges

  Maersk reported what management called “a positive start” to the year in its first quarter results that was in line with expectations which prompted the company to raise its overall outlook for 2024 despite continued challenges. In a perverse sense, the Houthis’ attacks and disruptions in the Red Sea helped the company but failed to excite the investment community. The result was the stock declined more than four percent with many analysts saying the guidance was disappointing. The price...

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