Scorpio Tankers Inc. is set to sell five of its older MR product tankers for $179.1 million, completing in Q3 of 2024. The company will only operate vessels built in 2014 or later. Three buyers are purchasing the vessels, with STI Garnet, STI Onyx, STI Ruby, and STI Topaz equipped with scrubbers. CEO Lauro aims to boost cash flow and shareholder returns.
The Kerala Maritime Board is making significant investments in ports along the coast, with a focus on increasing draught and infrastructure. Jetties and cranes are being set up at key ports, including Beypore, with plans to improve facilities and security measures to meet international standards.
Kongsberg Maritime has expanded its Jet Control System to include the larger S-series stainless steel waterjets, offering improved maneuverability and easier installation for vessels up to 50 meters in length. The system, already available on the S3/CA steel series and the A5 aluminum series with over 100 installations, will now be compatible with the S4-series waterjets commonly used on ferries, super yachts, and coastal patrol vessels.
Sarbananda Sonowal, a prominent BJP leader, has been appointed as the Union Minister for Ports, Shipping, and Waterways in the NDA government. Sonowal, representing the Dibrugarh Lok Sabha constituency in Assam, is committed to advancing India’s maritime sector. His appointment signifies a strategic focus on enhancing the country’s presence in the global maritime industry and achieving maritime goals.
A new report by the World Shipping Council (WSC) reveals that the number of containers lost at sea will hit a record low in 2023. The annual report shows only 221 out of 250 million containers were lost at sea last year, a vast improvement from previous years. CEO John Butler emphasized the need for continued prevention efforts.
Discover the thrill of adventure sports with cruise packages highlighting water sports, scuba diving, trekking, and white water rafting in Andhra Pradesh. The Visakhapatnam Port Authority is transforming the state into a premier cruise destination, supporting ex-crew members to start businesses catering to the needs of the industry and boosting the local economy.
The U.S. Department of the Treasury has targeted two captains for assisting in transporting Iranian-linked oil, a departure from usual practice. Captains Vivek Ashok Pandey and Sandeep Singh Choudhary have been blacklisted for their involvement with tankers smuggling oil for Iran. The Treasury has also imposed sanctions on companies linked to these illegal activities as part of a broader crackdown on entities evading Iranian oil sanctions.
German shipping company Hapag-Lloyd anticipates a prolonged halt in shipping through the Suez Canal, even post-ceasefire between Hamas and Israel. The company cites ongoing Houthi attacks as a significant hindrance to normal operations. Both Hapag-Lloyd and Maersk faced substantial stock declines following this update, signaling broader disruptions in commercial shipping worldwide.
According to the U.S. Energy Information Administration, maritime trade has shifted dramatically due to drone and missile attacks in the Middle East, leading to a 47% increase in crude oil and oil product flows around the Cape of Good Hope. This rerouting has impacted trade dynamics and increased transport times and costs significantly.
The container shipping industry has seen a decrease in containers lost at sea, thanks to efforts in managing parametric rolling and improving container safety. A project by the Netherlands’ Marin institute aims to enhance transportation safety, providing valuable data and education to mariners. With only 221 containers lost out of 250 million transported in 2023, the industry continues to prioritize safety measures.
The Panama Canal Authority is increasing capacity and reducing restrictions to address concerns of larger vessels. By July, the Neopanamax Locks will have nine daily transits, and the Panamax Locks will increase to 25 daily transits. The maximum draft will be increased to 46 feet, with plans for a new reservoir to accommodate more transits. Despite recent challenges, the Authority remains committed to maintaining canal operations.
Transport Malta’s Marine Safety Investigation Unit released a report on a crew member who suffered a serious injury while using a lathe on a vessel. His hand slipped, and his coveralls got caught, resulting in the loss of his fifth digit. The investigation highlighted the importance of proper safety procedures and ongoing training to prevent similar incidents in the future.
The Cochin Port Authority, in collaboration with the Indian Ports Association, held a workshop on ‘Pathway for a Successful Green Hydrogen Pilot at Cochin Port’ to explore hydrogen fuel development opportunities. Over 50 industry partners attended, discussing the port’s potential in developing a bunkering facility for green hydrogen and its derivatives.
The Federal navigation channel for Baltimore Harbor was fully restored just 76 days after the Dali ship collided with the Francis Scott Key Bridge. The US Army Corp of Engineers confirmed the restoration of the 700-foot wide and 50-foot-deep channel after extensive underwater surveys. Lt. Gen. Scott Spellmon commended the unified efforts that led to the reopening of the Federal Channel for port operations.
Two recent bridge incidents have raised concerns about maritime infrastructure vulnerabilities. The collapse of the Francis Scott Key Bridge in Baltimore and a near-miss in Charleston Harbor highlighted the risks posed by cyberthreats. With increased incidents in critical infrastructure, the need for thorough investigations and robust defenses is crucial to safeguard against potential cyberattacks and ensure maritime security.
