The Maritime Executive
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The maritime industry's leading source for breaking maritime and marine news including shipping news, offshore news, piracy news and more.
The Maritime Executive
3h ago
In a press briefing Thursday, Maryland Gov. Wes Moore pledged to restore the damage from the Francis Scott Key Bridge's collapse, but cautioned that it would not happen quickly.
"This is an incredibly complex job, and our timeline will be long," Moore said. "We've got work to do, but we're moving."
He compared the project's difficulty to the refloating of the container ship Ever Given in the Suez Canal three years ago, and mistakenly said that that earlier effort took "five weeks." (Ever Given was refloated in six days.)
The U.S. Army Corps of Engineers is leading the initial cleanup, an ..read more
The Maritime Executive
4h ago
After the China Coast Guard injured three Philippine crewmembers with water cannons at Second Thomas Shoal last weekend, Philippine President Ferdinand Marcos Jr. said that Manila would respond with new countermeasures.
"We seek no conflict with any nation, more so nations that purport and claim to be our friends but we will not be cowed into silence, submission, or subservience," he said. "Filipinos do not yield."
In a statement Thursday, Marcos promised a "response and countermeasure package that is proportionate, deliberate, and reasonable" in response to the aggressive actions of the ..read more
The Maritime Executive
6h ago
A dozen Republican senators have expressed unease about the White House's plan to install a floating pier off the coast of Gaza for food shipments, saying the risk to American servicemembers is too high. Their concerns run parallel to criticism leveled by the humanitarian aid community, which has panned the maritime pier as an insufficient and unnecessary response to the growing famine in Gaza.
In a letter to the White House, Senators Roger Wicker, Tom Cotton, Deb Fischer, Dan Sullivan and eight colleagues asked the Biden administration for clarification on how the pier will be operated ..read more
The Maritime Executive
6h ago
Corporate venture fund MOL PLUS, the investment arm of Japan’s Mitsui O.S.K. Lines is making its latest investment in marine energy company Fleetzero, an early-stage U.S.-based technology company focusing on long-range electric cargo shipping. MOL PLUS is participating in a fund-raising round for the startup technology company that was launched in 2021 by two marine engineers, Steven Henderson and Mike Carter, to develop what they are calling breakthrough battery technology that will produce the world’s most energy-dense battery pack.
Fleetzero is working to develop marine battery system ..read more
The Maritime Executive
6h ago
Chevron is testing operations with a hybrid electric bunker tanker as it explores expanding the use of the technology. The fueling giant looks at the vessel, the Marine Dynamo, which is on charter from V-Bunkers, as a demonstration and proof of concept. The vessel which is being operated by V-Bunker used to supply Chevron customers with fuels in Singapore.
The vessel was one of two hybrid electric bunker tankers built in China and delivered in 2023 to V-Bunkers. The Marine Dynamo is 8,750 dwt and was built by Zhejiang Shenzhou Sunshine Heavy Industry. It arrived in Singapore last summer ..read more
The Maritime Executive
6h ago
Finland’s trade unions announced they are extending their strike into a fourth week after they contend the government is not showing any willingness to compromise on cuts to social welfare while imposing changes to collective bargaining and the right to strike. Cargo operations at the country’s ports as well as the railroads continued to be mostly stopped with the unions saying there are willing to suspend the strike when the government “shows understanding for the workers’ concerns.”
The trade union federation is conducting the strike which began on March 11 and was initially scheduled ..read more
The Maritime Executive
6h ago
Lloyd's of London expects that the payout for the Baltimore bridge strike will be exceptionally expensive, and it may even be the "largest ever marine-insured loss" - bigger perhaps than the Costa Concordia.
When the boxship Dali hit the Francis Scott Key Bridge on Tuesday morning, it killed six people, collapsed a major highway thoroughfare, and blocked off access to Baltimore's harbor. The physical damage was massive and costly, but it will be the secondary impacts to business that really start to run up the insurance bill.
“A lot of business is going to be interrupted, supply chains a ..read more
The Maritime Executive
6h ago
The major carriers are scrambling to assist customers and formulate plans in the wake of this week’s incident suspending vessel traffic in the Port of Baltimore indefinitely. While there were no container vessels on dock at the time of the incident, CMA CGM reports that the terminal stopped receiving exports as of 11 a.m. on March 26, prompting the carrier to issue a notice of Force Majeure today to customers.
CMA CGM is informing customers of contingency plans under the terms and conditions of its bill of lading. Exports on the terminal they are saying will stay there until the port re ..read more
The Maritime Executive
8h ago
A dozen Republican senators have expressed unease about the White House's plan to install a floating pier off the coast of Gaza for food shipments, saying the risk to American servicemembers is too high. Their concerns run parallel to criticism leveled by the humanitarian aid community, which has panned the maritime pier as an insufficient and unnecessary response to the growing famine in Gaza.
In a letter to the White House, Senators Roger Wicker, Tom Cotton, Deb Fischer, Dan Sullivan and eight colleagues asked the Biden administration for clarification on how the pier will be operated ..read more
The Maritime Executive
8h ago
Corporate venture fund MOL PLUS, the investment arm of Japan’s Mitsui O.S.K. Lines is making its latest investment in marine energy company Fleetzero, an early-stage U.S.-based technology company focusing on long-range electric cargo shipping. MOL PLUS is participating in a fund-raising round for the startup technology company that was launched in 2021 by two marine engineers, Steven Henderson and Mike Carter, to develop what they are calling breakthrough battery technology that will produce the world’s most energy-dense battery pack.
Fleetzero is working to develop marine battery system ..read more