CMISL and SBIA Sign MOU to Boost Boating Industry Growth

The Chamber of Marine Industries of Sri Lanka (CMISL) and the Singapore Boating Industry Association (SBIA) signed a Memorandum of Understanding (MOU) on April 22, 2024, to promote the boating and yachting industries. The collaboration was facilitated by the High Commission of Sri Lanka in Singapore, marking the initial step towards mutually beneficial efforts and cooperation.

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Causes and Prevention of Towboat Flooding Incident in New Orleans

An open overboard shutoff valve and a failed check valve caused the sinking of the towboat Joanne Marie at a New Orleans shipyard. The incident occurred during layup, with no crew or power onboard. The vessel was partially submerged but successfully refloated with $175,000 in damages. Lessons learned led to checklist modifications for vessel layup procedures.

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Torqeedo Integrates Ocean-Bound Plastics into Emission-Free Boating Products

Torqeedo is leading the way in sustainability by integrating ocean-bound plastics into their emission-free boating products. With a new Advanced Engineering Team testing recycled materials, they aim to reduce CO2 impact by over 80% while maintaining product quality. This initiative marks a significant step towards a circular plastic economy in the marine industry.

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Shipbreaking in South Asia: Safety Concerns and Call for Action

Shipbreaking in South Asia remains hazardous, with recent fatalities and injuries. In Pakistan, two workers were killed at Dewan Shipbreaking, highlighting the lack of safety measures. The NGO Shipbreaking Platform reports 449 deaths and 408 injuries since 2009. They provide healthcare and training for injured workers, seeking donations for vocational rehabilitation.

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Crossing the Spirits of the Sea

The exhibition explores the parallels between Venice and Bangkok, with a focus on the intricate canals of the latter. Featuring works by various artists, the exhibition delves into themes of colonialism, spirituality, and indigenous histories, offering a unique perspective on Southeast Asian art and culture. Follow updates at smc.bkkartbiennale.com.

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As tensions mount in Red Sea, freight charges, insurance premiums may surge further

Rising Freight Charges and Insurance Premiums Amid Iran-Israel Tensions

Freight charges and insurance premia for shipping vessels are expected to rise due to increased tensions between Iran and Israel. Shipping to Europe and the US is particularly at risk. With disruptions leading to capacity constraints, freight rates have already increased, while war risk insurance premiums have soared to 0.75-1% of the insured vessel’s value.

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Dubai Maritime Authority partners with RTA to enhance maritime services

The partnership between Dubai Maritime Authority and RTA aims to enhance marine transport services, streamline licensing processes, and promote sustainable maritime practices. Through strategic alliances and regulatory measures, DMA is committed to nurturing a safe and conducive marine environment that supports Dubai’s economic growth and cements its position as a global maritime hub.

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UK Government Launches £8m Fund to Support AI Technology in Maritime Sector

The UK government has launched the £8m Smart Shipping Acceleration Fund to help the maritime sector embrace AI, which could revolutionize the industry. The fund will support feasibility studies for technologies like AI, robotics, and autonomous vessels, with potential benefits including safer operations, reduced environmental impact, and economic growth.

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LR1 product tanker Nexus Victoria

MOL installs carbon capture system on LR1 tanker

Mitsui OSK Lines is set to equip the LR1 product tanker, Connections victory, with an integrated CO2 capture system, a first for a Japanese operator. The Filtree System by Value Maritime can remove sulfur oxides, particulates, and recover up to 10% CO2. Installation on the 75,000-tonne vessel is expected by year-end, aligning with MOL’s goal of net zero emissions by 2050.

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