The U.S. Treasury Department’s OFAC imposed new sanctions on companies aiding Iranian goods shipment to Yemen and UAE under Sa’id al-Jamal’s direction. The move targets funding sources for designated terrorist groups Houthis and IRGC-QF, funded by al-Jamal’s network. Updates to the SDN list include the vessel NOTE previously named ARTHUR, involved in these operations.
DRIFT Energy, a British startup, has secured $6 million in investments led by Octopus Ventures for vessel production in 2025. Their innovative approach aims to utilize sailing vessels to generate green energy at sea, producing green hydrogen for global distribution. This funding marks a significant step towards revolutionizing the energy industry with sustainable solutions.
A recent study examined the climate impacts of reduced sulphur emissions from ships post-2020, revealing a decrease in light reflection back into space. Sulfur-rich fuel burning by ships historically emitted harmful gases and aerosols, cooling the planet through increased cloud formation. However, the reduction post-IMO2020 has inadvertently accelerated global warming, necessitating further research.
The FuelEU Maritime regulation, effective from 1 January 2025, will penalize shipping companies that do not meet carbon intensity reduction targets. Companies can opt to pay penalties or reduce GHG intensity through measures like biofuels or pooling. Despite some considering penalties, experts recommend exploring sustainable fuel options to offset costs and comply efficiently.
Yemen’s Houthi rebels are disrupting merchant shipping in the Red Sea, leading to increased fuel consumption and emissions. Vessel operators are taking longer routes to avoid attacks, impacting global bunkering demand. The situation is expected to have significant environmental and economic consequences, particularly for bunker suppliers in key ports like Singapore.
A merchant vessel near Eritrea’s Massawa port was targeted with small arms fire, raising concerns about security in the Red Sea. The incident, approximately 92 nautical miles northeast of Massawa, involved armed individuals in a small boat. With no group claiming responsibility, authorities are investigating the situation amidst escalating tensions in the region.
The “Survey on Gender Equality in Indian Maritime Industry (2024)” report, released on August 12th, shows progress in women’s participation in the sector over the past five years. Female CEOs increased from 3.9% to 21.4%, but challenges remain, like the low number of women seafarers. More efforts are needed to promote gender equality and empower women in the maritime industry.
A machine room fire broke out on the Adora Mediterranea cruise ship in Jeju, South Korea, injuring three crew members. The incident, on August 14, 2024, was quickly contained by the ship’s safety systems. Passengers were safely off the ship, and guests were accommodated in local hotels. Repair work delayed departure for the ship’s homeport in China.
Experts caution that a potential strike by 45,000 longshoremen at East Coast and Gulf seaports could disrupt cargo traffic for weeks or even months. Major retailers like Walmart are rushing to import goods before the September 30 deadline. Shipping costs are skyrocketing amid fears of significant supply chain disruptions.
U.S. Representative John Garamendi (D-CA-08) introduced a bill targeting foreign shipowners responsible for maritime disasters in U.S. waters, following the Francis Scott Key Bridge collapse caused by the M/V Dali. Co-sponsored by U.S. Representative Hank Johnson (D-GA-04), the Justice for Victims of Foreign Vessel Accidents Act aims to increase financial responsibility for foreign vessels to better support victims and families.
ExxonMobil Canada Properties (EMCP) reported a near miss event during a crew change on August 7, 2024, off Canada’s East Coast. The gangway used for personnel transportation detached from the landing platform, prompting temporary operations halt. No injuries were reported, but the incident underscores the importance of safety protocols in offshore operations.
Leading liquefied natural gas transporter Avance Gas Holding Ltd. sells its VLGC fleet to BW LPG Ltd for $1.05 billion. The fleet includes eco-VLGCs and dual-fuel VLGCs to be built. The deal includes MoAs and SLB agreements. Delivery set for 2024, generating profits of $315 million. Avance Gas retains MGCs and a stake in BW LPG.
KAUST has selected Freire Shipyards in Vigo, Spain, to build its new research vessel, RV Thuwal II, scheduled for completion in 2026. This vessel will be Saudi Arabia’s first regional class research vessel, providing access to the Red Sea for marine research. Designed by Glosten in the US, overseen by Maritime Survey International from Australia, RV Thuwal II will support various research interests and government ministries, strengthening the nation’s research capabilities.
Grandweld Shipyards recently delivered the FNSA 7 vessel to Fujairah National Shipping, showcasing the latest in maritime technology. The FNSA 7, based on Grandweld Shipyards’ GrandSuperior design, features an advanced real-time remote monitoring system and digitalization package. This multi-mission vessel is designed to meet the high standards of major offshore oil operation companies like ADNOC and ARAMCO.
Teledyne Marine has partnered with BetweenMusic to create AquaSonic, an underwater concert experience using hydrophones. The collaboration led to unique instruments and trained singers performing underwater. The group aims to perform in open water and release an album in 2025. The process of adapting to singing underwater was inspired by whale recordings.
