Ghana’s new maritime law aims to streamline operations, regulate fees, and boost the country’s position as a transit trade hub. Key trade associations are optimistic about the Ghana Shippers’ Authority law, believing it will reduce costs and enhance efficiency in the shipping sector. The law targets unfair charges to promote fair pricing and accountability.
The Fuel EU Maritime Regulation (FEMREG) is a key part of the EU’s Fit for 55 Package, aiming to reduce greenhouse gas intensity in energy used by ships above 5,000 GT by at least 55% by 2030. Shipping companies must comply with FEMREG by submitting a monitoring plan by August 31, 2024.
Energy companies GFI LNG and Pilot LNG are teaming up to build a small-scale LNG terminal in Salina Cruz, Mexico. The project aims to start FEED development this quarter, with a goal of operational readiness by mid-to-late 2027. The facility will utilize domestic Mexican gas for LNG production, targeting markets along the Pacific Coast.
In early 2024, offshore wind projects saw a shift in financing dynamics, attracting infrastructure investors due to their high-risk nature. Dominion Energy’s construction of the WTIV Charybdis for the CVOW project, with Stonepeak’s investment, reflects this trend. Despite challenges, infrastructure investors like BlackRock and CIP remain interested in offshore wind projects.
Real-time monitoring of ship status for improved voyage planning is key for Höegh Autoliners. Using LNG as the main fuel, their vessel achieves a 58% lower carbon intensity indicator than standard PCTCs. Kongsberg Digital’s cloud infrastructure collects and translates data for efficient route planning, maintenance monitoring, and regulatory compliance.
A groundbreaking reactor developed by Caltech and USC researchers can convert CO2 emissions from ships into harmless salt stones, aiding the shipping industry’s quest for carbon neutrality. The innovative technology mimics natural ocean processes, capturing and storing emissions effectively without harming marine life. Calcarea’s solution could revolutionize carbon capture in shipping.
Improved low-emission navigation on vessels equipped with single-fuel engines running on MGO or LSMGO can reduce CO2 emissions by three percent compared to VLSFO-powered vessels. With a goal of achieving net zero emissions by 2050, MOL leverages modern connectivity for real-time monitoring of ship operations at sea and on land.
The Maritime Union is voicing concerns over Lyttelton Port Company’s mandatory fitness tests following the tragic death of employee Don Grant. While the company claims the assessments were recommended by accident investigators, the union believes they infringe on employees’ privacy rights. Mediation is ongoing to address these issues in a fair and transparent manner.
Over the weekend, an Italian coast guard rescue boat collided with a migrant craft off the coast of Syracuse, resulting in two deaths and one person missing. The response boat faced challenging conditions due to rough weather. Survivors were rescued, but two individuals died, and search efforts continue for the missing person. Italy is implementing a new strategy to process maritime migrants outside its borders.
GT Wings, A2O Manufacturing, and KS Composites are collaborating on the AirWing wind propulsion system for commercial shipping. Expected to reduce fuel consumption and emissions by 30%, the system is set for installation on a cargo vessel in 2024. With plans for multiple units in 2025, the partners are optimistic about its impact on decarbonizing the industry.
The NTSB attributed a bulk carrier grounding incident in Lake Huron to inadequate underkeel clearance guidance from the operating company. The John J Boland sustained over $775,000 in damages due to flooding and hull damage. The crew’s decision to use the main engine after the second grounding worsened the situation, as revealed by the investigation.
Sweden-based Viking Supply Ships AB is outsourcing management of its anchor handling tugs to Sea1 Offshore, expecting significant cost savings for shareholders starting in 2025. Viking retains ice expertise and will stay listed on Nasdaq First North. Sea1 manages a global fleet of offshore support vessels, complementing Viking’s operations.
The Hellenic Coast Guard intercepted 34 kilograms of cocaine hidden in a shipment of bananas from South America, valued at €1 million. This discovery follows a joint effort between Greek and U.S. authorities to dismantle drug smuggling rings targeting Europe. Increased security measures are being implemented to combat the surge in drug smuggling activities.
The maritime industry saw a record-breaking 264 new vessel deliveries in the first half of 2024, totaling 1.6 million TEU. Despite minimal ship recycling, shipowners continued to order more vessels, with a busy outlook up to 2028. The industry may see an increase in recycling to balance fleet growth in the future.
Officials provided an update on the salvage efforts for the grounded Ultra Galaxy cargo ship off the South African coast. Despite challenging weather conditions, teams continue to work on oil retrieval. The vessel broke into two, making the operation more difficult. Salvage teams face the task of locating and extracting remaining oil.
