Marine Cybersecurity: Key Takeaways from the Coast Guard's Final Rule
The U.S. Coast Guard (USCG) published a final rule on January 17, 2025, addressing Cybersecurity in the Marine Transportation System (the “Final Rule”), which seeks to minimize cybersecurity-related transportation security incidents (“TSIs”) within the maritime transportation system (“MTS”) by establishing requirements to enhance the detection, response, and recovery from cybersecurity risks. Effective July 16…
Coastal Virginia Offshore Wind Project Stays on Track with Cost Update
Dominion Energy, Inc. (NYSE: D) provided updates on the 2.6 GW Coastal Virginia Offshore Wind (CVOW) project. The fully permitted project is now approximately 50% complete and remains on track for on-time completion by the end of 2026. CVOW continues to achieve construction milestones, including successfully installing the first 16 transition pieces, which connect the foundation and tower for each of the 176 wind turbines.
China Dominates Maritime Markets in '24
In what should be a surprise to no one, the Chinese maritime industry continued its dominance in 2024, with the nation’s vessel orderbook surpassing $123 billion. Data from VesselsValue reveals a strong year for both Chinese shipowners and shipbuilders, with significant investments across various vessel sectors.Chinese Ship Owning MarketAmong Chinese shipowners, China Merchants Shipping led the way with orders for 28 new vessels, worth an estimated $4.4 billion.
Flex LNG Time Charter Rates Beat Expectation
Flex LNG Ltd. released its unaudited financial results for the fourth quarter and full year ended December 31, 2024, reporting a robust performance amid a challenging LNG shipping market.Flex LNG posted vessel operating revenues of $90.9 million for the fourth quarter, a slight increase from $90.5 million in the third quarter. Net income surged to $45.2 million, significantly up from $17.4 million in the previous quarter…
Russia Seaborne Diesel Exports Rise
Russia's seaborne diesel and gasoil exports rose almost by a quarter in January from December as traders sought to increase supplies before new U.S. sanctions come into effect and amid seasonal low domestic demand, LSEG and market sources data show.The U.S. Treasury announced sweeping new sanctions against the Russian energy sector on Jan. 10, targeting two major oil companies, dozens of traders and…
Hapag-Lloyd Closes $4B Financing for 24 New Container Ships
Container shipping firm Hapag-Lloyd has secured long-term financing, in the amount of $4 billion, for 24 large container ships ordered in October 2024, with a combined capacity of 312,000 TEU.Around $900 million of the purchase price will be financed using the company’s own funds. A total of $500 million will be made available from two banks in the form of bilateral mortgage loans.Another part, in the amount of $1.8 billion…
Japan's Mitsui Eyes Alaska LNG Project
Japanese trading house Mitsui could consider studying a project to liquefy natural gas (LNG) in the U.S. state of Alaska, but no decisions have been made yet, Chief Financial Officer Tetsuya Shigeta said on Tuesday.Japan is considering offering support for a $44-billion gas pipeline in Alaska as it seeks to court U.S.
WinGD Debuts On-Engine SCR
WinGD will be deploying its on-engine NOx reduction solution ed for the first time on commercial engines after securing type approval.The integrated Selective Catalytic Reduction (iSCR) solution was tested at Mitsui E&S DU (MESDU) Co’s factory in Aioi, Japan, where three WinGD 5X52-S2.0 engines are being built for bulk carriers under construction at a Japanese shipyard.The type approval follows more than two years of service experience with a prototype version.
OpenBridge 6.0 Design Framework Released
Professor Kjetil Nordby, head of Ocean Industries Concept Lab at the Oslo School of Architecture and Design, has announced the launch of the latest version of the open source OpenBridge design framework, built to deliver consistent, modern and regulation-compliant user experiences for maritime bridges and other safety-critical applications.‍Ship bridges are made up of systems from many suppliers that deliver individual implementations to each bridge.
Robbers Active in Singapore Strait
The ReCAAP ISC has issued a warning about the continued occurrence of robberies onboard ships while underway in the Singapore Strait and warns of the possibility of further incidents.There were 11 robberies between January 1 and February 3 onboard ships while underway in the eastbound lane of the Traffic Separation Scheme (TSS). Some incidents occurred within a short interval – two incidents each in…
Meyer Werft Kicks Off Fuel Cells for Cruise Ship Retrofits Project
German shipyard Meyer Werft has launched the zero4cruise project with project partners including Freudenberg e-Power Systems and the German Aerospace Center (DLR).The project aims to develop climate-friendly and low emission energy systems for cruise ships, focusing on fuel cell technology powered by green methanol.The hybrid energy system will combine PEM fuel cells with a methanol reformer and battery…
Oil Falls After Tariffs Pause
Oil prices retreated on Tuesday after U.S. President Donald Trump agreed to hold off imposing steep tariffs on Mexico and Canada, the two biggest foreign oil suppliers to the United States, for a month.Brent futures LCOc1 fell 41 cents, or 0.5%, to $75.55 a barrel at 0149 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 declined 75 cents, or 1%, to trade at $72.41.Both Canadian Prime Minister…
Cyclones Delay Rio Tinto Exports from Australia
Rio Tinto said on Tuesday it had begun clearing iron ore ships from two Western Australian ports as two tropical cyclones offshore swell seas and complicate its efforts to repair infrastructure damaged by a previous cyclone last month."Safety is our priority. As is procedure, we began sending ships from Cape Lambert Port at the weekend and Dampier Port last night, out to sea, to avoid high sea swells and wave conditions created by Tropical Cyclone Taliah and Tropical Cyclone Vince…
IMO PPR 12 Finalizes In-Water Cleaning Guidance
The 12th session of the IMO’s Sub-Committee on Pollution Prevention and Response (PPR 12), held in London from January 27 to 31 January 2025, finalized guidance on in-water cleaning of ships’ biofouling.The guidance is expected to be approved by MEPC 83 in April, says DNV. The guidance includes voluntary procedures related to planning, documentation, reporting and inspection when conducting in-water cleaning.
NTSB Studies Flight Data from Washington Plane Crash
The NTSB, in coordination with the U.S. Navy Supervisor of Salvage, has recovered the aft fuselage, right engine and right pylon of the Bombardier CRJ700 after its midair collision with a Sikorsky UH-60 Black Hawk helicopter near Ronald Reagan Washington National Airport.The PSA Airlines Bombardier CRJ700 airplane operated as American Airlines Flight 5342 from Wichita, Kansas, to Reagan Washington National Airport, and the US Army helicopter collided at 8:47 p.m.
Saildrone USVs Support Mission to Secure US Southern Border
Saildrone is scaling up its fleet in the Caribbean and Eastern Pacific to stem the flow of illegal drugs into the United States in response to the US-declared state of emergency at its southern border.On the water, the US Navy and Coast Guard have moved fleets of ships into place. These agencies are responsible for securing thousands of miles of coastline and open ocean, but assets are extremely limited…
Coastal Virginia Offshore Wind Project Remains on Track
Dominion Energy has stated that the 2.6GW Coastal Virginia Offshore Wind (CVOW) project is now approximately 50% complete and remains on track for on-time completion at the end of 2026.CVOW is credited with creating 2,000 direct and indirect American jobs and $2 billion of economic activity.CVOW continues to achieve significant construction milestones including the successful installation of the first…
No New Offshore Wind Contracts for New Jersey
New Jersey officials on Monday said the state would not grant awards for new offshore wind contracts, a sign that U.S. President Donald Trump's order to review the federal offshore wind program is putting a chill on the industry.The announcement by the New Jersey Board of Public Utilities comes days after Shell backed out as a partner in the only project that had finalized a bid under the state's latest offshore wind procurement scheme.In a statement…
Oil Tanker Tests Houthi Ceasefire
Liberian-flagged crude oil tanker Chrysalis, which was attacked by Yemen's Houthis last year, sailed through the Red Sea this week, the Suez Canal said on Monday, in one of the first voyages since the militia announced a halt in attacks on ships not linked to Israel.Shipping companies, many of which have suspended Red Sea voyages and rerouted vessels around southern Africa to avoid potential Houthi attacks…
Abandoned Ships at Sea- A Worsening Crisis That Threatens Maritime Safety and Marine Ecosystems
Abandoned ships at sea have emerged as a serious maritime industry crisis, creating both navigational hazards and humanitarian concerns. Over recent years, hundreds of vessels have been left to drift around the oceans unattended, endangering global shipping routes, marine ecosystems, and seafarers themselves.Ship abandonment occurs when ship owners fail to provide wages, provisions, and fuel to their crews onboard their vessels…
