Cochin Shipyard Limited

In a ceremony held in Trinidad and Tobago on November 23, 2022, Proman Stena Bulk Ltd formally named its first newbuild IMOIIMeMAX methanol-fueled 49,900 DWT vessel, Stena Pro Patria.Stena Pro Patria is the first of three methanol-fueled vessels delivered in 2022 to the joint venture between tanker company Stena Bulk and the methanol producer Proman, with a further three newbuilds due for  delivery between now and 2024.The naming ceremony was the first for a methanol-fueled newbuild in Trinidad and Tobago, and was attended by Trinidad and Tobago’s Prime  Minister, Dr. Keith Rowley, as well as the Minister of  Energy and Energy Industries, the Honourable Stuart Young.

The Baltic Exchange's dry bulk sea freight index .BADI touched a one-week high on Thursday, propelled by stronger demand across vessel segments.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels carrying dry bulk commodities, added 58 points, or about 4.9%, to 1,242.The capesize index jumped 165 points, or 13.5%, to 1,384, its highest since Nov. 14. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, increased $1,373 to $11,479.

Norwegian subsea services company Reach Subsea said Thursday it had struck a deal to expand its operating fleet with two ROV support vessels.The company said it had secured "significant vessel capacity for the coming four years" through a deal to buy the multipurpose ROV support vessel Edda Sun for $29 million and through a charter contract for the multipurpose ROV support vessel Go Electra with a duration, including options, through 2027."With the favorable terms on the two new vessels, and the existing charters of Havila Subsea and Deep Cygnus, Reach Subsea now has a long-term core fleet portfolio with an estimated 20-30 percent cost advantage compared to the current market.

Portland, Ore.-based Vigor Marine has been awarded a contract for a 90-calendar day shipyard availability for a mid-term availability of Military Sealift Command’s hospital ship USNS Mercy (T-AH 19).The $20,187,816 firm-fixed-price contract includes a base period and options, which if exercised, would bring the cumulative value of this contract to $20,915,538. Work will be performed in Portland, Ore., beginning January 16, 2023, and is expected to be completed by April 15, 2023. This contract was competitively procured with proposals solicited via the System for Award Management website and one offer was received.

ABB has secured a contract with the Chinese shipyard COSCO Shipping Heavy Industry (Yangzhou) Co. Ltd., to equip 10 China COSCO Shipping Corporation Limited container vessels with its permanent magnet shaft generator systems. Due for delivery by the end of 2025, the order comprises systems for six 14000TEU vessels and four 16000TEU vessels."The International Maritime Organization (IMO) is introducing new regulatory standards – the Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII) – which will come into force in January 2023.