Upward Trend for Alternative-Fueled Vessel Orders Continues in 2025
According to the latest figures from DNV’s Alternative Fuels Insight (AFI) platform, a total of 12 new orders for alternative-fueled vessels were placed in January 2025, marking a continuation of the trend towards the fuel in the second half of 2024.All new orders placed came from the container segment, DNV’s AFI informed.“Although we have seen fewer orders for alternative-fueled vessels in January compared to other months…
Tidal Transit Secures Funding for ‘World’s First’ Electric CTV Fleet
U.K.-based offshore wind crew transfer vessel (CTV) owner Tidal Transit has secured equity financing from maritime and logistics investor HICO Investment Group to expand its fleet with six new electric CTVs (E-CTVs).The strategic expansion is a direct response to growing demand for zero-emission CTV solutions from offshore wind operations, according to Tidal Transit.The six newbuilds, to be delivered from 2026, will complement Tidal Transit’s existing fleet of electric CTV’s.
Cadeler’s Wind Mover WTIV Lines Up First Offshore Wind Contracts
Danish offshore wind installation firm Cadeler has signed two contracts with undisclosed clients for the utilization of its newbuild wind turbine installation vessel (WTIV), Wind Mover, starting immediately upon delivery.The vessel, currently under construction at Hanwha Ocean Shipyard in Korea, will support operations and maintenance (O&M) activities, along with potential installation work, in Europe.The contracts, which are part of a combined agreement, will cover the entire period from Wind M
Recycling Market Eases
Despite a frantic start to 2025 that saw a marked return of recycling tonnage at the bidding tables, sale and purchase activity across the global ship recycling spectrum eased further this week as Chinese New Year holidays descended upon the world, says cash buyer GMS.“It is the Year of the Snake, and it is indeed expected to be a far busier one than the preceding years, with record low volumes of…
Owner Sentenced to Prison After Vessel Capsize
The owner of the vessel Stimulus Money, Richard Cruz, was sentenced to 18 months in prison on Thursday after pleading guilty for his role in the July 2022 capsizing of the vessel while underway on the Hudson River that resulted in the death of two passengers, a seven-year-old boy and 48-year-old woman.Cruz was arrested in March 2024 along with the operator of the vessel, Jaime Pinilla Gomez, and charged with one count of misconduct and neglect of a ship officer resulting in death…
AWO Urges Newsom to Act on CARB Rule Amendments
The American Waterways Operators (AWO) recently sent a letter to Gov. Gavin Newsom in California, urging him to withdraw the 2022 amendments to the California Air Resources Board (CARB) Commercial Harbor Craft rule, particularly in light of CARB’s withdrawal of its requests to enforce emissions rules for California’s truck and rail industries, leaving only harbor craft subject to CARB’s stringent regulations.The AWO is the tugboat…
European Shipowners Welcome Focus on Competitiveness
European Shipowners (ECSA) welcome the focus of European Commission’s new Competitiveness Compass on competitiveness and open trade as a prerequisite to the continent’s security, resilience and growth.Shipping is a cornerstone of Europe’s energy, food and supply chain security, moving around 76% of EU’s international trade, promoting international partnerships and reducing strategic dependencies.The…
Trump's Tariffs a Boost for European and Asian Refiners
U.S. President Donald Trump's trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against their U.S. rivals, analysts and market participants told Reuters.Trump on Saturday ordered 25% tariffs on Canadian and Mexican imports and 10% on goods from China starting on Tuesday to address a national emergency over fentanyl and illegal aliens entering the U.S., White House officials said.
Rubio Pressures Panama over Chinese Businesses Near Canal
U.S. Secretary of State Marco Rubio on Sunday warned Panama's President Jose Raul Mulino that Washington will "take measures necessary" if Panama does not immediately take steps to end what President Donald Trump sees as China's influence and control over the Panama Canal.Mulino, after the talks with the top U.S. diplomat in Panama City, signaled he would review agreements involving China and Chinese businesses, and announced further cooperation with the U.S.
Summing Up the U.S., the Panama Canal and China
Some U.S. lawmakers and officials are touting a nearly half-century-old treaty between the United States and Panama to justify the Trump administration's threat to reclaim the Panama Canal - provided it can show the strategic waterway's operation is under threat.Others, however, say hurdles would loom for any bid to use the 1977 Panama Canal Neutrality Treaty, which took effect in 1999 and guarantees that the canal would remain neutral and open to all ships from all countries…
$2.9B Maritime Development Fund Created by India
India is set to establish a 250-billion-rupee ($2.9 billion) maritime development fund to provide long-term financing for the country's shipbuilding and repair sector, Finance Minister Nirmala Sitharaman announced on Saturday.The initiative aligns with Prime Minister Narendra Modi’s vision of transforming India into a developed nation by 2047. As part of this effort, the government is investing heavily…
Shipbuilding RFP Issued to Build Hydrogen-Hybrid Research Vessel
UC San Diego’s Scripps Institution of Oceanography issued a request for proposals (RFP) to select a shipyard for the final design and construction of its new 163-ft. Coastal Class Research Vessel (CCRV), reportedly the first oceanographic research ship to primarily operate on renewable fuels.The vessel will feature a dual-powered hydrogen fuel cell and diesel-electric propulsion system, capable of conducting 75% of its missions using only liquid hydrogen.
U.S. Shipping Invests $150 Million in Great Lakes Region
With winter in full swing, the U.S.-flagged fleet of Lakers have tied up in ports across the Great Lakes region to perform critical maintenance before the navigational locks in Sault Ste Marie, Michigan reopen on March 25th.Hundreds of skilled shipyard workers will flock to the area to support the nearly $150 million maintenance investment being made on these massive ships. The state receiving the largest amount of work is Ohio with $51.5 million…
US: China's Panama Canal presence "a security concern"
China's presence around the Panama Canal is a national security concern that Panama's government has to deal with, Mauricio Claver-Carone, the U.S. special envoy for Latin America, said on Friday, ahead of U.S. top diplomat Marco Rubio's visit to the country.Rubio will depart on Saturday on his first foreign trip, with a scheduled visit to the canal and a meeting with Panamanian President Jose Raul Mulino…
Maersk to launch its new ocean network
On February 1, Maersk A/S (Maersk), an entity under A.P. Moller - Maersk, and Hapag-Lloyd AG (Hapag-Lloyd) launch their operational collaboration Gemini Cooperation. The ambition is to deliver a flexible and interconnected ocean network with industry-leading schedule reliability above 90 percent once fully phased in.Around 340 vessels will be phased in and be a part of Maersk and Hapag-Lloyd’s shared ocean network with the first sailings taking place on February 1…
InterManager Elects von Hardenberg As President
InterManager, the international association for the ship management sector, has elected Sebastian von Hardenberg as President.Sebastian is CEO of Bernhard Schulte Shipmanagement (BSM) and was elected by members of InterManager’s Executive Committee during the association’s Annual General Meeting in London this week.An experienced negotiator, he has lobbied on behalf of InterManager members and the…
Lake Victoria's First Ro/Ro Vessel Sets Sail
East Africa Marine Transport has taken a significant step towards creating a more sustainable and efficient logistics solution for Lake Victoria with the commissioning of M.V. MPUNGU, the lake’s first scheduled roll-on / roll-off freight vessel.Offering faster and safer crossings and reduced carbon emissions, the fuel-efficient vessel is set to transform regional trade by cutting journey times from…
McQuilling Weighs in on 2025-2029 Tanker Outlook
McQuilling Services announced the release of its 28th anniversary edition, 2025-2029 Tanker Market Outlook.This 183-page report provides a detailed analysis of oil fundamentals, global economic and geopolitical context in addition to tanker demand and supply projections across eight vessel classes. The interaction of tanker demand and vessel supply variables is processed using advanced quantitative…
Baltic Index snaps 13-day losing streak
The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped a thirteen-day losing streak on Friday, supported by strong rates across the capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 20 points to 735 points, recording gains for the first time since Jan. 13. The contract was down 8.1% this week.The capesize index gained 33 points to 874 points.
Xeneta: Ocean Box Rates to Fall Again in February
Middle East ceasefire and Lunar New Year will see ocean container freight rates fall further in February - with carriers now taking action to slow the market decline.Latest data from Xeneta – an ocean and air freight intelligence platform – shows average spot rates from the Far East stand at USD 3 795 per FEU (40ft container) into North Europe and USD 5 085 per FEU into the Mediterranean – down 22%…
