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COSCO Shipping Development has approved orders for 15 newcastlemax bulk carriers in a RMB7.92bn ($1.1bn) expansion of its ship-leasing portfolio. Ten of the 210,000 dwt vessels will be built by Shanghai Waigaoqiao Shipbuilding, with the remaining five contracted at Nantong Xiangyu Shipyard. Each ship is priced at RMB528m before tax. The Xiangyu vessels are scheduled …
https://splash247.com/cosco-lines-up-15-newcastlemaxes/
https://splash247.com/cosco-lines-up-15-newcastlemaxes/The United States has sanctioned two Iranian companies accused of operating an IRGC-backed “extortion scheme” that forces commercial ships to buy maritime insurance before transiting the Strait of Hormuz. The Treasury Department said Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority sell mandatory, Iranian-approved policies purporting to protect vessels from seizures and other …
https://splash247.com/us-targets-irans-hormuz-extortion-scheme-and-eight-shadow-tankers/
https://splash247.com/us-targets-irans-hormuz-extortion-scheme-and-eight-shadow-tankers/Yemen’s Houthis are considering charging commercial ships to pass through Bab el-Mandeb, potentially transforming their campaign of missile and drone attacks into a revenue-generating system controlling access to the southern Red Sea. Regional officials told Reuters that the Iran-aligned movement is examining fees for most vessels using the strategic gateway linking the Red Sea and …
https://splash247.com/houthis-weigh-toll-scheme-for-red-sea-shipping/
https://splash247.com/houthis-weigh-toll-scheme-for-red-sea-shipping/Shipping’s next generation of risk management tools could allow owners and charterers to hedge directly against specific events rather than relying solely on traditional freight derivatives, according to Mark Jackson, chief executive of Baltic Exchange. Jackson, who joins the dry bulk markets panel at September’s Splash Singapore conference, says outcome markets could emerge alongside freight …
https://splash247.com/splash-singapore-baltic-exchanges-mark-jackson-on-the-rise-of-outcome-markets/
https://splash247.com/splash-singapore-baltic-exchanges-mark-jackson-on-the-rise-of-outcome-markets/A floating storage and regasification unit and an LNG carrier have been hit in an apparent drone attack at Egypt’s Damietta terminal, potentially extending the Middle East’s rapidly widening maritime conflict into the Mediterranean. Maritime security firm Ambrey assessed that an unidentified drone struck the US-owned Energos Winter while it was alongside on Wednesday. The …
https://splash247.com/drone-strike-hits-fsru-and-lng-carrier-at-egyptian-terminal/
https://splash247.com/drone-strike-hits-fsru-and-lng-carrier-at-egyptian-terminal/French containment specialist GTT expects around 550 LNG carriers to be ordered over the coming decade, despite the sector already carrying one of the largest newbuilding backlogs in commercial shipping. The forecast covers contracts placed between 2026 and 2035 and sits alongside expected demand for between 25 and 40 very large and ultra-large ethane carriers, …
https://splash247.com/gtt-sees-need-for-another-550-lng-carriers-by-2035/
https://splash247.com/gtt-sees-need-for-another-550-lng-carriers-by-2035/John Donovan, a maritime operations veteran, has been named Chief Operating Officer for Fueltrax.Donovan has been with Fueltrax since 2018, joining the company as Director of Global Operations, with subsequent promotions to Vice President roles.
https://www.marinelink.com/news/fueltrax-names-john-donovan-new-chief-541608
https://www.marinelink.com/news/fueltrax-names-john-donovan-new-chief-541608INTERCARGO has observed a recent increase in attacks on merchant vessels, alongside a noticeable shift towards the direct targeting of commercial shipping. This is deeply concerning to our members and to the wider industry. Seafarers keep global trade moving. They are civilians doing their jobs.
https://www.marinelink.com/news/intercargo-calls-seafarer-civilian-safety-541609
https://www.marinelink.com/news/intercargo-calls-seafarer-civilian-safety-541609BigLift Shipping, a member of the Spliethoff Group, successfully completed 10 project voyages for the Ridley Island Energy Export Facility (REEF), AltaGas and Vopak’s joint venture project.Starting in June 2024, BigLift safely transported equipment…
https://www.marinelink.com/news/biglift-supports-ridley-island-energy-541610
https://www.marinelink.com/news/biglift-supports-ridley-island-energy-541610The United States on Wednesday issued another round of Iran-related sanctions, taking aim at Iran's efforts to "monetize the Strait of Hormuz" with designations of 10 entities and eight more tankers, the U.S. Treasury Department said.Six of the entities targeted for sanctions were based in China…
https://www.marinelink.com/news/us-issues-new-round-iranrelated-shipping-541617
https://www.marinelink.com/news/us-issues-new-round-iranrelated-shipping-541617