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JAG LAKSHITA

Oil Carrier | Flag: India | Port: MUMBAI

JAG LATEEF

Oil Carrier | Flag: India | Port: MUMBAI

Maritime News

World’s First Tiltable Rotor Sails Installed

World’s First Tiltable Rotor Sails Installed

2 hours ago
Auxiliary wind propulsion systems provide Norsepower said it installed the world’s first tiltable Rotor Sails for SEA-CARGO, a logistics provider in the North Sea market.According the analysis conducted by Norsepower and SEA-CARGO, installation of the two 35-meter tall Rotor Sails on board the SC Connector, a 12,251 gross tonne (GT) sidedoor RoRo vessel, can achieve a fuel consumption, fuel cost and carbon emissions reduction of up to 25%. In good wind conditions, the sailing vessel will maintain regular service speed by sail alone.
Fruergaard to Take Over as CEO of Pacific Basin

Fruergaard to Take Over as CEO of Pacific Basin

33 minutes ago
Hong Kong-headquartered dry bulk shipping company Pacific Basin announced Wednesday that Martin Fruergaard will take over as CEO, replacing longtime chief executive Mats Berglund, who has decided to retie. Fruergaard, the current CEO of Danish gas shipping company Ultragas, will relocate to Hong Kong and join Pacific Basin in early July. He brings to the role significant maritime leadership experience, having previously occupied senior positions in Maersk Bulk Carriers, Maersk Tankers and Maersk Drilling.Berglund was CEO of Pacific Basin for nine years, and his retirement will take effective July 30.
Allseas' Subsea Mining Ship Project is Moving Forward

Allseas' Subsea Mining Ship Project is Moving Forward

an hour ago
Swiss-based Allseas has awarded Dutch subsea technology company Seatools the contract for the delivery of the complete electrical, hydraulic and control system for Allseas’ deep-sea mining nodule collector.Driven by the green energy transition, the interest in high-grade seafloor polymetallic nodule deposits has risen in the past few years due to the depleting terrestrial deposits for metals such as copper, nickel, manganese and cobalt. Nevertheless, subsea mining does not take place on a commercial scale yet as current technology readiness levels fall short.
Capesize Market Starts Strong in 2021 -BIMCO

Capesize Market Starts Strong in 2021 -BIMCO

2 hours ago
BIMCO says the year 2021 has started strongly for the capesize market with 1,427 journeys completed or underway in the first 20 days of the year, a 10.4% increase compared to the same period last year, according to figures from VesselsValue. This counter-seasonal upswing stands in contrast to the development for all other dry bulk ships which have seen a 2.8% decline in activity in the same period, BIMCO says.BIMCO says it expects that the number of capesize journeys completed or still underway when January comes to an end, will exceed the 1,768 recorded in December 2020.
Higher Rates Lift Baltic Index to One-week Peak

Higher Rates Lift Baltic Index to One-week Peak

3 hours ago
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose to its highest in a week on Wednesday as vessel rates improved across all segments.The Baltic dry index, tracking rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, was up 62 points, or 3.5%, at 1,828, a one-week high.The capesize index climbed 170 points, or 5.8%, at 3,082.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $1,409 at $25,557.Chinese iron ore futures gained on Wednesday on concerns that inclement weather could disrupt shipments from major supplier Australia.
Maritime Reporter and Engineering News (January 2021)
Maritime Reporter and Engineering News (January 2021)
The Ship Repair & Conversion Edition