LNG spot rates enter negative territory in the Atlantic
The dire start to the year for LNG carriers has hit new low benchmarks with some ship types now in negative territory in the Atlantic basin. Spark Commodities, which tracks LNG rates, is reporting 160,000 cu m TFDE vessels were assessed at minus $2,250 per day at the end of last week, a negative round […]
India sets aside billions to develop shipyards
India’s finance minister Nirmala Sitharaman announced on Saturday the creation of a $2.9bn maritime development fund for the long-term financing of the country’s shipbuilding and repair industry, the latest in a series of measures the Narendra Modi administration is taking to make the world’s most populous nation a top 10 shipyard country by the end […]
Glosten to design CORE POWER’s floating nuclear power plant
Shipping nuclear propulsion start-up CORE POWER has reached out to naval architecture firm Glosten for the design of a floating nuclear power plant (FNPP) to power ports in the United States. CORE POWER’s FNPP concept is a nearshore infrastructure system that includes a barge-based nuclear power plant, barge support services, electrical grid integration, and operational […]
SeaBird to merge with Energy Drilling
Marine seismic specialist SeaBird Exploration and Singapore’s tender drilling rig specialist Energy Drilling are set to merge in a share-for-share deal creating a diversified offshore oil and gas services player. Under a letter of intent, the transaction will be carried out by issuing about 651m new SeaBird shares to Energy Drilling shareholders. The company will […]
What I found when I tested AI’s real-life evolution in shipping & ChatGPT vs Copilot
Everyone who knows me and have been reading my articles and listening to my interviews regularly know that I am a big proponent of digitalisation and advancements in technology.. While AI and other similar technologies are a great way to improve efficiency in operations, save time, effort, and costs, it must be understood that while […]
Peter Döhle contracts up to five boxsips at GSI
Germany’s Peter Döhle Schiffahrts has added to its boxship orderbook with up to five 8,400 teu newbuilds in China. Shipbuilding sources say the Hamburg-based boxship and bulker owner and operator has contracted three firm and two optional vessels at CSSC Guangzhou Shipyard International (GSI), paying between $120m and $125m per vessel. The newbuilds will feature […]
What we can learn from aviation when it comes to all things digital
Julian Panter, the CEO of SmartSea, on why maritime must embrace digital transformation to stay afloat in the 21st century. The maritime industry is under threat of long-term risks such as operational inefficiencies and regulatory non-compliance due to some companies clinging to outdated and legacy practices. A rapidly evolving technological landscape presents unprecedented opportunities as […]
Mads Nipper steps down as Ørsted CEO
The chief executive officer of Danish offshore wind developer Ørsted, Mads Nipper, has stepped down from his role. Nipper will step down from the CEO position on February 1 at which time Rasmus Errboe, the current deputy CEO and chief commercial officer, will step into the role of group president and CEO. Nipper joined Ørsted […]
DEME nets deal for work on two German offshore wind projects
Belgium-based marine contractor DEME has been awarded two contracts for the transport and installation of 112 foundations at the Nordlicht 1 and 2 offshore wind farms in Germany. In addition to the two contracts, worth around €300m ($312m) in total, the company also secured the contract for the scour protection at both wind farms. The […]
Jan De Nul awarded German wind farm contract
Belgium’s Jan De Nul has secured a contract to install 196 km of inter-array cables for the Nordlicht offshore wind farm project in Germany. The Nordlicht wind farm zone, located 85 km north of the island of Borkum in the German North Sea, consists of two separate sites – Nordlicht I, with an expected capacity […]