In the first seven months of 2024, there was a significant increase in the contracting of product tankers larger than 10k DWT, with 194 tankers totaling 13.3m DWT ordered. The order book has rapidly expanded, with Chinese shipyards securing 72% of the orders. However, the industry may face challenges in balancing supply and demand in the near future due to strong market conditions and low recycling rates.
The shortage of firefighting foam chemicals poses a safety risk on 40,000 sea vessels. New regulations will phase out PFOS, a harmful compound. Ship owners must replace foams at first survey after January 1, 2026. VIKING offers services for a smooth transition to safer alternatives, despite logistical challenges. Port state control will enforce compliance strictly.
The National Shipping Company of Saudi Arabia (Bahri) has invested $1 billion in acquiring nine advanced Very Large Crude Carriers (VLCCs) to modernize its fleet and boost competitiveness in the global market. With a focus on eco-friendly practices and cost-efficiency, Bahri aims to enhance its position in the industry while prioritizing sustainability.
Argentine authorities have quarantined a cargo ship on the Parana River near Rosario’s grain port after a crew member showed symptoms of Mpox. The global health emergency declared by the WHO has raised concerns about the spread of the viral infection. Companies are ramping up efforts to combat the outbreak.
The multimillion-dollar yacht Obsession survived Storm Ernesto after running aground on a reef off Culebra, Puerto Rico. Despite sustaining flooding and a potential environmental hazard due to diesel on board, the Coast Guard and Salvor Resolve Marine worked to defuel and remove the yacht. The salvage project aims to prevent further pollution and protect the marine ecosystem.
Nearly five months after the fatal collision of the containership Dali with Baltimore’s Francis Scott Key Bridge, the offloading of the vessel has been completed in Norfolk, Virginia. The vessel arrived in June with 4,800 containers out of its full capacity of 10,000 TEUs. Repairs are underway before it departs for the Far East.[embed]https://www.youtube.com/watch?v=j-pWhdFGXVs[/embed]
Efforts to clean up the oil spill from the grounded MV Ultra Galaxy off South Africa’s coast are being intensified. SAMSA is mobilizing personnel to expedite the oil removal process after recent storms caused the ship to release more oil. Environmental patrols are monitoring the containment and minimizing the environmental impact.
The overturned oil barge off the coast of Tobago has been salvaged at a cost of $30 million. Recovery efforts led by T&T Salvage successfully refloated the Gulfstream barge after a six-hour operation. The wreck is now being assessed three nautical miles off the coast before being towed to Port-of-Spain. The search for the crew of the abandoned tugboat continues, with the government seeking international assistance in the investigation. The Ministry of Energy has completed beach cleanup and is holding parties accountable for the environmental damage caused by the oil spill.
The investigation into the ferry incident revealed inadequate evacuation procedures, with only six crew members responsible for over 900 passengers. Crew juggling multiple tasks made it difficult to evacuate effectively. Recommendations include a formal validation process for evacuation procedures and separate counting for children on board to ensure passenger safety in the future.
Divers are tirelessly searching for six missing individuals, including tech entrepreneur Mike Lynch, after a luxury yacht sank off Sicily. The depth of the wreck poses challenges as they meticulously comb through the wreckage. The British government is investigating the incident to determine if proper safety measures were taken before the storm hit.
Ships supporting developing economies are struggling to transition to sustainable practices, with smaller operators facing challenges due to high costs and limited options. While larger companies embrace new fuels and energy efficiency, smaller operators find it difficult to comply with tightening regulations. The industry must support all sectors in achieving a more sustainable future.
Shipping companies are navigating the complexities of the FuelEU Maritime regime to reduce compliance costs and penalties for failing to meet carbon intensity reduction targets. OceanScore is providing estimates on compliance surpluses available through pooling to assess costs and potential earnings. Companies must consider biofuel burning and pooling as cost-effective alternatives to penalty payments as regulations become stricter.
MED MARINE recently unveiled the MED-A2575 tugboat, constructed at Ereğli Shipyard for SVS MARITIME, a part of the VERNICOS SCAFI GROUP. Launched on August 5, 2024, this tugboat exemplifies MED MARINE’s dedication to top-notch quality in the maritime sector.
Environmental activists from the Dutch branch of Extinction Rebellion caused delays for three cruise ships and an oil product tanker on August 18. The group aimed to raise awareness about climate and ecological issues, demanding an immediate end to the cruise industry. Despite police intervention, the protestors were released without arrest, allowing the vessels to proceed.
Fred. Olsen Express has taken a significant step in enhancing safety on its fast passenger ferries by implementing SEA.AI, an advanced anti-collision technology utilizing machine vision and artificial intelligence. This cutting-edge system improves collision avoidance, man overboard situations, and search and rescue missions, showcasing its crucial role in maritime safety.
