US east coast port talks set to resume
Talks are set to resume tomorrow between employers and dockworker unions across the US east and Gulf coasts in a last ditch bid to avert a strike pencilled in for January 15. Following a three-day strike last October, the International Longshoremen’s Association (ILA) reached an agreement with the United States Maritime Alliance (USMX) on wages, […]
Kristian Siem buys Petter Olsen’s estate outside Oslo
A property deal between two famous Norwegian shipping magnates has been making headlines in Oslo. Kristian Siem has bagged a significant discount in buying the childhood home of Petter Olsen, a property that includes two smaller detached houses, multiple garage spaces, a storage house, a henhouse, a sauna, a carp pond, and a park, located […]
Value of global merchant fleet leaps by two-thirds in the 2020s to cross $2trn mark for first time
The remarkable appreciation in ship assets in the 2020s has seen the value of the world fleet, including vessels on order, jump above $2trn for the first time, according to data from Clarksons Research. The global merchant fleet, including the orderbook, was worth $1.2trn in 2020 by comparison. Newbuild prices increased last year to near […]
Annual tanker chartering poll highlights fast-changing oil seaborne trades
The changing oil seaborne trades are evident in Poten & Partners’ just released annual list of the top dirty spot charterers, statistics that highlight China’s softening economy in 2024 as well as the search for non-pipelined oil from Russia from erstwhile trading partners. China’s Unipec remained the dominant dirty spot charterer in 2024, although the […]
Asia Pacific Shipping swells tanker orderbook with 12 newbuilds in China
Vietnamese shipowner Asia Pacific Shipping (ASP) is set to bolster its tanker fleet with 12 newbuildings added to the orderbook at Chinese yards. The Hanoi-headquartered outfit has spread the orders across Dalian Shipbuilding Industry Corporation (DSIC), Shanghai Waigaoqiao Shipbuilding (SWS), and Wuhu Shipyard. Shipbuilding sources report DSIC has been commissioned to build eight 115,000 dwt […]
Biden to ban offshore drilling in massive areas of US Pacific and Atlantic
US President Joe Biden is planning to block all future oil and gas drilling in more than 2.5m sq km of federal waters on Monday. This is one of Biden’s last big moves to cement himself as a conservationist and climate change advocate while also dealing a hard blow to president-elect Donald Trump and his […]
Boskalis orders largest ever subsea rock installation vessel
Dutch dredging contractor and marine services provider Boskalis has ordered a new subsea rock installation (SRI) vessel with a cargo capacity of 45,500 tonnes. Boskalis claimed that the vessel would be the largest SRI vessel in the industry, significantly bolstering Boskalis’ position in this niche market, which currently includes three existing SRI vessels. With the […]
US making strides towards offshore wind round in Guam
The US Bureau of Ocean Energy Management (BOEM) has announced the publication of a call for information and nominations for possible wind energy leasing off the coast of Guam. This call will gather public comments to inform potential leasing areas. Guam aims to generate 50% of its electricity from renewable energy sources by 2035 and […]
Euroseas to spin off three older boxships into new US-listed vehicle
Nasdaq-listed Greek containership owner Euroseas has revealed plans to spin off three of its oldest vessels into a separate publicly listed company. The Aristides Pittas-led tonnage provider with 27 ships on fully delivered basis will place the 1997-built Aegean Express, the 1998-built 2008 teu Diamantis P, and the 1999-built 1732 teu Joanna into Euroholdings in […]
Steering through the challenges of maritime autonomy
Professor John McDermid, director of the Centre for Assuring Autonomy, a partnership between the Lloyd’s Register Foundation and the University of York, kicks off 2025’s Contributions section. Autonomous systems can improve the maritime industry in a number of ways. For instance, it can contribute to the industry’s decarbonisation efforts by reducing fuel consumption through optimising […]