Premiums for spot shipping biofuels have fallen further at the world’s largest bunkering hub Singapore due to slow demand. The B24 marine biofuel blend recently traded at $120-$130 per tonne over 0.5% low-sulfur fuel oil. Shippers are exploring biofuels like B24, made up of 24% UCOME and 76% VLSFO, to reduce carbon emissions.
A new report provides safety recommendations for establishing environmentally friendly shipping corridors, crucial for the industry’s decarbonization goals. The report, released by the Maritime Technologies Forum, highlights the importance of safety in implementing green corridors, emphasizing risk assessments, collaborative planning, and alternative fuel safety management systems. Flag states and classification societies support these efforts.
Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group, has received Approval in Principle from ClassNK for its ammonia fuel supply system (AFSS) developed for the X-DF-A engine by WinGD. This milestone aligns with the IMO’s goal of achieving net zero greenhouse gas emissions in the maritime industry by 2050. Mitsubishi Shipbuilding aims to further develop marine ammonia handling systems to promote decarbonization in the maritime sector.
Inflation hawks can now relax as maritime shipping rates are trending down, easing concerns of higher consumer goods prices globally. The spike in rates earlier this year was fueled by pandemic-induced supply chain disruptions. Recent incidents, like the Red Sea shipping lane shutdown by Houthi rebels, have further impacted global shipping routes.
US unmanned systems specialist saildrone has deployed two unmanned surface vehicles on the US East Coast for an ocean mapping mission. The vehicles will survey the north-central Gulf of Maine in support of NOAA deep-sea coral surveys, mapping an area never before mapped in high resolution. Equipped with safety features, they will operate separately but in the same general section of the study area.
Equinor and Polenergia are making progress on Poland’s largest offshore wind farm in the Baltic Sea. The Baltyk I project, with a capacity of up to 1560 MW, will supply green energy to 4 million households. The developers are using HVDC technology for efficient power transmission, following the success of earlier projects.
The crew of the Bessie Ellen faces a race against time to prepare for an around Britain tour, as repairs to the High Orchard Bridge impede their journey. Owner Nikki Alford emphasizes safety but acknowledges the challenge of dismantling and reassembling the ship’s rigging to pass under the bridge.
Jennifer Homendy, chairwoman of the National Transportation Safety Board (NTSB), updated the US Senate Committee on Commerce, Science, and Transportation on the ongoing investigation of the M/V Dali incident and Francis Scott Key Bridge collapse in Baltimore. Extensive interviews with crew members and stakeholders have been conducted, with a preliminary report expected in May.
The Ombudsman has been asked to petition the Constitutional Court regarding the Thai-Cambodian MoU signed in 2001 on joint development in the Gulf of Thailand. PPRP deputy leader Paiboon Nititawan believes the MoU is unconstitutional and has no legal effect, urging the court to intervene to protect Thailand’s sovereignty and natural resources.
The world’s largest container carrier, MSC Mediterranean Shipping Co. SA, is fighting back against a proposed U.S. government fine of $63.3 million for alleged overcharging and false billings. The company, based in Geneva, Switzerland, called the penalties “excessive” and plans to defend itself vigorously. Industry veteran John McCown called the fine unprecedented.
The shipping industry faces manageable impacts to cargo despite recent disruptions like the closure of the Port of Baltimore. However, Journal of Commerce Executive Editor Mark Szakonyi warns against complacency, as growing geopolitical threats may pose new challenges that cannot be easily overcome.
ClassNK has reshuffled its executives to navigate the maritime industry’s transformation. President & CEO Hiroaki Sakashita and SEVP Junichiro Iida continue in their roles, with EVP Hayato Suga promoted. Dr. Toshiro Arima, Masaki Matsunaga, and Dr. Yoshiya Yamaguchi are new EVPs. ClassNK aims to support customers in decarbonization and digital transformation.
The Bangladeshi vessel MV Abdullah, hijacked by Somali pirates, had its 23 crew members successfully rescued this month, as confirmed by the state minister of shipping. Efforts are ongoing to bring them back home safely, with regular contact maintained by the Department of Shipping. The situation is now under control.
Composite reinforced plastics, like CFRP and GFRP, offer strength and versatility for maritime applications. Eco Marine Power and Nakashima Propeller are collaborating to explore their use in the Aquarius Eco Ship Project. This partnership aims to enhance efficiency and reduce underwater noise from ship propulsion systems using advanced materials.
Kongsberg Defence & Aerospace has secured a contract with the Norwegian Intelligence Service to provide satellite maritime surveillance data for Norwegian Areas of Interest. The three satellites, equipped with AIS receivers, will be operated by Kongsberg Satellite Services to enhance maritime security in the High North and beyond.
