Wilhelmsen Ship Management (WSM) and Affinity Shipping signed a Memorandum of Understanding (MOU) to establish an independent company that will provide compliance services related to the EU ETS (European Union Emission Trading System).When created…
International trade by sea has long been a key part of the world economy and approximately 90% of traded commodities is reliant on shipping. Once wind-propelled in the days of sail, the current generation of ships now heavily rely on fossil fuels…
Florida's Port Everglades recently completed a study to add shore power to the Port's eight cruise terminals and has taken delivery of the final report. The study was performed by Moffatt & Nichol, a global infrastructure advisory firm working in cooperation with Florida Power & Light (FPL)…
2022 closed with significant developments to advance offshore wind (OSW) and the necessary, related work required at U.S. ports – on the east and west coasts and the Great Lakes. Some of these developments included:Funding – MARAD’s Port Improvement…
Finnish cargo handling machinery manufacturer Cargotec on Monday announced its board of directors has appointed Casimir Lindholm to succeed Mika Vehviläinen as the company's president and CEO, effective April 1, 2023.A member of Cargotec's board since 2021…
The Italian trade union USB filed a legal complaint against a plan by gas grid operator Snam to set up a new liquefied natural gas (LNG) terminal in the Tuscan port of Piombino, it said in a press release on Friday.USB alleged Snam had committed…
Reuters Events has officially launched their flagship offshore wind event, US Offshore Wind 2023 (USOW23) being held in the Hynes Convention Center, Boston, July 11-12, 2023.The event will unite more than 1000 offshore wind developers, utilities…
Wisconsin Gov. Tony Evers, together with the state's Department of Transportation (WisDOT), announced grants totaling $5.3 million for seven harbor maintenance and improvement projects to promote waterborne freight and economic development.“From the Great Lakes to the Mississippi River…
OX2 and the Bank of Åland’s mutual fund subsidiary Ålandsbanken Fondbolag, which are developing the Noatun North and Noatun South offshore wind power projects near Finland’s Åland archipelago in the Baltic Sea, have initiated a feasibility study…
A significant element of the U.K. government’s levelling up plan to create thousands of jobs, regenerate more deprived areas and attract overseas investors is the introduction of freeports. These special low-tax trading zones allow all kinds of businesses to trade…
The number of ships loading liquefied natural gas (LNG) in Spain and taking it across Europe doubled in 2022 compared with the previous year, helping ease the energy crisis driven by Russia's invasion of Ukraine, gas grid operator Enagas said on Thursday…
Mitsubishi Shipbuilding recently completed a conceptual study with INPEX CORPORATION for an ammonia bunkering vessel capable of supplying ammonia fuel to ships.Since ammonia does not emit carbon dioxide (CO2) when burned, it is expected to be…
January proved to be a dramatic month for long-term ocean freight rates, with the latest data from the Xeneta Shipping Index (XSI) showing the largest ever month-on-month declines. According to the XSI, average long-term contracted rates dropped by 13…
The departure of the Algocanada from the Port of Green Bay on Wednesday, January 25 signaled the end of the Port’s 2022 shipping season. Total cargo shipments into and out of the Port topped out at just over 1.75 million tons (1,765,834) for the season…
The Baltic Exchange's dry bulk sea freight index dropped to its lowest level in more than two years on Thursday, pressured by slowing demand for capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax…