Ørskov Christensens Staalskibsværft A/S

The US Coast Guard and local partners are responding to an explosion aboard the 751-foot Liberia-flagged bulk carrier W-Sapphire in Baltimore Harbor.Responders from Coast Guard Sector Maryland - National Capital Region were dispatched to the area to assist. No injuries have been reported, and the cause of the explosion is under investigation.The vessel remains afloat and is being assisted by tug boats.The Coast Guard has established a 2,000-yard safety zone around the incident location, spanning from the Key Bridge to Brewerton Angle Channel LB “14”.Reports state the fire has been extinguished and plans for the vessel are being formulated.At approximately 6:30 p.m.

Saipem reports it has successfully completed its designated scope of work for the development of the Yellowtail field, operated by ExxonMobil Guyana Ltd., locatedin approximately 1,800m of water within the Stabroek Block offshore Guyana.Awarded the contract in 2022, Saipem undertook the Engineering, Procurement, Construction, and Installation (EPCI) of the Subsea Umbilical, Riser, andFlowline (SURF) system for the Yellowtail field. The FDS2 J-lay vessel, one of Saipem’s flagship assets, executed the installation of the rigid flowline and steel lazy wave risers in an early 2024 campaign.

On August 15, the Panama Canal marked 111 years of operations, renewing its commitment to a sustainable future through a water strategy focused on public well-being and an operational vision that enhances the country’s logistical competitiveness.Since the waterway’s inauguration in 1914, with the historic transit of the steamship Ancón, which, for the first time, connected the Pacific and Atlantic Oceans, the canal has been a driver of Panama’s economic and social development while also a transformer of global maritime trade.“In 25 years under Panamanian administration, the canal has doubled its capacity, expanded its locks, and strengthened its security.

Eastern Shipbuilding Group received the Notice to Proceed from Washington State Ferries (WSF) to build two with an option for an additional 160-vehicle hybrid-electric ferries for the State of Washington. This milestone follows the first competitive bid for ferry construction in more than 25 years for the nation’s largest ferry system.“This is an exciting milestone in bringing new hybrid-electric ferries to our fleet,” said David Sowers, Washington State Ferries’ Electrification Program Administrator.

China’s share of the tanker orderbook rose from 32.4% in 2022, to 62.6% in 2023 and then 71.2% in 2024. Its share of the container ship orderbook has shown a similar growth trajectory. The nation has ranked first in the world for new orders since 2012. Labor costs are about half of what they are in Korea and Japan, and China is the world’s cheapest steel manufacturer.Niels Rasmussen, Chief Shipping Analyst at BIMCO, says that during the past five years Chinese shipyards have built 50% of the ship capacity delivered, and Chinese shipyards now hold 66% of the ship capacity in the orderbook.