Thursday, April 25, 2024
Media Kit
Capt. Mode (right) visits the cutter USCGC Oliver Henry in Guam, Dec. 2023 (USCG)

Coast Guard Removes Top Chaplain for "Failure to Demonstrate Judgement"

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drug search

Video: Italian Police Find $27M of Cocaine in Vessel's Sea Chest

Published Apr 24, 2024 6:11 PM by The Maritime Executive

  The Italian police are highlighting their ongoing efforts to crack down on the smuggling of illegal narcotics into the country. The State Police are reporting 24 raids in the Policoro region in southern Italy, while in the north at Ravenna on the Adriatic, they are reporting a significant seizure of cocaine found hidden below the waterline on an arriving bulker. The joint investigation was carried out by the State Police and the Financial Police, in coordination with multiple units...

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Laura Maersk in Kiel Canal

Piecing Together a Fragmented Green Fuels Landscape

Published Apr 24, 2024 5:54 PM by Margaret Doyle

  Market fragmentation is slowing down the production and uptake of renewable fuels in the maritime sector. Turning the tide will require clearer signals from potential fuel buyers and sellers to develop the new supply chains that will enable shipping’s decarbonization journey. There is a persisting disconnect between producers of renewable fuels and potential buyers in the maritime sector. Some volumes of renewable LNG and sustainable biofuels are available in the US...

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Key Bridge

Maersk May Set Up Container-on-Barge Service to Reach Baltimore

Published Apr 24, 2024 5:29 PM by The Maritime Executive

Baltimore's shipping channel is closed to deep-draft container ships because of the wreckage of the Key Bridge, and will probably not reopen until the end of May, according to the Army Corps of Engineers. This has an outsize effect on local businesses that depend on the port for logistics: they now have to truck their goods to and from New York or Virginia to get access to ocean freight. But Maersk may have an interim solution - a container-on-barge service,...

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Gram Car Carrier

MSC Jumps into Vehicle Transport Offering $700M for Gram Car Carriers

Published Apr 24, 2024 5:18 PM by The Maritime Executive

  MSC Mediterranean Shipping Company and the Aponte family are making a bold move to break into the hot car and vehicle transport segment. The container carrier giant has agreed to an aggregate equity purchase price of approximately $700 million (NOK 7.643 billion) in a cash tender to acquire Norway-based Gram Car Carriers.  Vehicle carriers are one of the hottest segments in the shipping industry currently with vessels and capacity in short supply. Gram Car Carriers, currently with a fleet...

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Offshore

offshore wind farm

U.S. Plots 12 Offshore Wind Lease Auctions by 2028 and Revises Rules

  The Biden administration is moving forward aggressively to expand the U.S. offshore wind energy industry including mapping out a five-year plan for up to a dozen new leases and streamlining and modernizing the rules for development. All of this comes as the industry however continues to struggle to get projects from concept to reality with New York suffering the latest setback in moving forward with approved projects. Secretary of the Interior Deb Haaland announced the new five-year offshore wind...

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Shipbuilding

Almirante Viel

Chile’s New Icebreaker Prepares to Enter into Service

  Last week, Chile completed the first round of sea trials for its new polar icebreaker, Almirante Viel. The Chilean government of  President Gabriel Boric lauded the milestone, especially the fact that the icebreaker was built entirely in the country. The vessel was built by state-owned ASMAR Shipyard based on a VARD design, and is estimated to have cost over $200 million. It is scheduled to be delivered to the Chilean Navy in the last quarter of this year, and is designed to...

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Environment

emissions

Red Sea Diversions Surge Container Shipping Emissions Reports Xeneta

  Carbon emissions from the container shipping industry are reaching record levels as ocean going vessels sail longer distances to avoid Houthi attacks in the Red Sea. The new data contained in Xeneta’s Carbon Emissions Index (CEI) highlights the adverse impacts on the industry’s efforts to curb emissions because of the conflict in the Middle East. Xeneta calculates container shipping emissions hit 107.5 points in the first quarter of this year on its index. The CEI is based on average...

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Business

Gram Car Carrier

MSC Jumps into Vehicle Transport Offering $700M for Gram Car Carriers

  MSC Mediterranean Shipping Company and the Aponte family are making a bold move to break into the hot car and vehicle transport segment. The container carrier giant has agreed to an aggregate equity purchase price of approximately $700 million (NOK 7.643 billion) in a cash tender to acquire Norway-based Gram Car Carriers.  Vehicle carriers are one of the hottest segments in the shipping industry currently with vessels and capacity in short supply. Gram Car Carriers, currently with a fleet...

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