U.S. investment company EnTrust Global, already a player in shipping finance, aims to buy ships that generate lower emissions, an executive said, the latest sign of efforts in the shipping industry to go green.Global shipping accounts for nearly 3% of the world’s CO2 emissions…
The United States on Wednesday imposed sanctions on companies based in China and the United Arab Emirates, accusing them of supporting the sale of Iranian petrochemicals as Washington increases pressure on Tehran in the closing days of President Donald Trump's term…
Seri Everest, the first in a series of three 98,000 cbm Very Large Ethane Carriers (VLECs) built at Samsung Heavy Industries Co., Ltd. (SHI) and delivered to MISC Berhad on October 30, 2020. Seri Everest is the first from a series of six VLECs that MISC purchased in July 2020…
Interest in ammonia-powered fuel cells for the maritime sector is growing, but stakeholders have been hesitant to commit to investments in large-scale systems. Now the ShipFC project is aiming to secure a place for ammonia in the future of deep-sea shipping…
President-elect Joe Biden touted the diversity of his incoming administration as he introduced former rival Pete Buttigieg on Wednesday as his choice for U.S. transportation secretary.Buttigieg, the former mayor of South Bend, Indiana, would…
Arab Potash Company's (APC) newest cutter suction dredger (CSD) was launched at Royal IHC’s shipyard in Krimpen a/d IJssel, The Netherlands, on Wednesday. APC will use Alyarmouk at its site in Jordan, where it will cut and remove crystallized salt under harsh conditions…
“The length of rotor blade transports is always a challenge! Everything went very smoothly during the complete assignment”, said Peter Schwandner, Managing Director of P. Schwandner Logistik + Transport GmbH. He applied the RotorBladeTransportSystem (RBTS) from Scheuerle…
Victaulic appointed Rick Bucher as Chief Executive Officer, succeeding John F. Malloy, effective January 31, 2021. Dr. Bucher was named President of Victaulic in April of 2020, following a June 2019 appointment as Chief Operating Officer. Prior…
The world’s first Digital Smart Ship (DSS)On October 28, 2020, NYK took delivery of Sakura Leader, a pure car and truck carrier (PCTC) capable of navigating oceans with only LNG as the ship’s main fuel. This delivery marks a step toward achieving NYK’s environment management target…
As spot container freight rates entered December, they also entered record-braking territory, climbing from $3,076 per FEU on the last day of November to $4,858 per FEU on first day of December. This was a milestone in its own way.Since then…
Workers at the busiest U.S. seaport are plucking containers of toys off ships and out of massive stacks of cargo swamping docks at the Southern California trade gateway to get holiday gifts under trees in time for Christmas.“We’ve never had this much cargo…
Many of the world’s biggest lenders to shipping companies fell short of carbon-cutting targets last year in the first analysis of CO2 goals for the sector by financiers, a report showed on Wednesday.Global shipping accounts for nearly 3% of…
Publisher of maritime market benchmarks, the Baltic Exchange, has launched a new service for shipping investors which provides a snapshot five-year view of the financial prospects of dry bulk carriers.The Baltic Exchange Investor Indices are…
The American Pilots’ Association (APA) announced Clayton L. “Clay” Diamond will assume the duties of Executive Director and General Counsel effective January 1.Diamond succeeds Paul Kirchner, who has been APA Executive Director-General Counsel since 1992…
Petroleum Service Corporation (PSC), a provider of tankerman services, product handling and site logistics for the petrochemical and refining industries, announced Tuesday that it signed an agreement to acquire certain assets from shoreside tankerman company Fryoux Tankerman Service…
