Spot rates on the Trans-Atlantic fronthaul trade from North Europe to the US East Coast (USEC) are plummeting rapidly. According to Xeneta’s platform data, the monthly average rate for a 40-foot standard container (FEU) has dropped dramatically, falling from USD 5,298 (excluding Terminal Handling Charges) in January to a mere USD 809 in August. This […]
Installation of Rotor Sails on TR Lady, an 82,000 dwt Kamsarmax bulk carrier, was completed in Chengxi Shipyard, China, in June 2023. TR Lady is owned by TR Lady Shipping Ltd, a portfolio company of Tufton Investment Management and is on a time charter with Cargill. The vessel was retrofitted with three 5×24m Rotor Sails […]
Global towage provider Svitzer, part of A.P. Moller-Maersk, has launched the second phase of its project to design the world’s first methanol hybrid fuel cell (MHFC) tug. Svitzer has conducted technical studies to establish the feasibility of this type of vessel accommodating the real-world operational requirements of a tug. Work will now begin between Svitzer […]
Silverstream Technologies, supplier of air lubrication technology for the global shipping industry, has announced the appointment of Alistair Mackenzie as Chief Commercial Officer (CCO) into the company’s Executive team. Alistair will lead the development of the company’s commercial programme as it continues its international growth, maximising opportunities for the adoption of the Silverstream® System across […]
In partnership with bound4blue, a pioneering developer of wind-assisted propulsion technology, Odfjell will install the innovative eSAIL® system on a chemical tanker, making it the first tanker vessel in the world to harness this groundbreaking technology. bound4blue’s eSAIL® system utilizes a cutting-edge wind-assisted propulsion system known as a suction sail. By promoting the use of […]
Agreement Establishes Long-term Geosynchronous Orbit (GEO) Foundation for KVH’s Hybrid Maritime Connectivity Solutions MIDDLETOWN, RI – August 17, 2023 – KVH Industries, Inc. (Nasdaq: KVHI), today announced the completion of a three-year renewal of its satellite services contract with Intelsat. The renewal includes increased network capacity, the flexibility to support future bandwidth adjustments, and reduced […]
London International Shipping Week’s Headline Conference will take a unique approach to scrutinising industry issues by encompassing the entire shipping spectrum and including other trade sectors. Speaking in a LISW23 London Interviews video presentation, Jos Standerwick, Chief Executive of Maritime London and chair of the Conference Working Group, declared: “We want to explore and inform […]
Wallenius Wilhelmsen has signed a letter of intent for four ‘Shaper Class’ next generation vessels and up to eight optional units of 9,350CEU class methanol dual fuel Pure Car and Truck Carriers (PCTCs) with Jinling Shipyard (Jiangsu). The first vessels will start being delivered from the second half of 2026. These four vessels have been […]
The Swedish Club has announced a positive first half of the year, with an insurance portfolio that continues to develop strongly in terms of both volumes and quality. It has delivered a profit of USD 16 million and a combined ratio of 98%. Encouraging developments during the year in terms of insurance results and investment […]
The Member Authorities of the Tokyo and the Paris Memoranda of Understanding (MoU) on Port State Control will launch a joint Concentrated Inspection Campaign (CIC) on Fire Safety. The purpose of the campaign is to create awareness among the ship’s crew and owners about the importance of fire safety measures; and to verify that the […]
The Seafarers’ Charity is once again calling on organisations and communities across the UK to pay tribute to the people behind the Merchant Navy Flag by flying the Red Ensign on Merchant Navy Day, Sunday 3rd September. This year’s Merchant Navy Day focus is a celebration of the people behind the flag; the men and […]
