Maritime Vessels Directory

Container shipping rates from China to the United States have scaled fresh highs above $20,000 per 40-foot box as rising retailer orders ahead of the peak U.S. shopping season add strain to global supply chains.The acceleration in Delta-variant COVID-19 outbreaks in several counties has slowed global container turnaround rates.Typhoons off China's busy southern coast in late July and this week have also contributed to the crisis gripping the world's most important method for moving everything from gym equipment and furniture to car parts and electronics.

Dredge Barge Capsizes in Charleston

14 hours ago

A 120-foot dredge barge capsized in the Charleston Harbor Resort and Marina, Wednesday, the U.S. Coast Guard said.Coast Guard Sector Charleston watchstanders received a call at 3:34 a.m. from the Charleston Harbor Resort and Marina staff stating the dredge barge rolled over on its side in the marina. There were no persons aboard the Capt Leo II when it capsized, but the dredge barge has a reported maximum potential of 1,000 gallons of diesel fuel on board. Photos shared by the Coast Guard show a visible sheen in the immediate area.

SBM Offshore Eyes Offshore Wind Project Opportunities

an hour ago

Oil and gas services company SBM Offshore on Thursday reported a better than expected decline in core profit for the first half of 2021 as it looks to develop floating offshore wind projects.After reducing spending sharply in the face of a pandemic-induced demand collapse, major energy companies have profitted from surging oil and gas prices that have fed into investment budgets, buoying SBM's results.The Dutch company's first-half earnings before interest, tax, depreciation and amortisation (EBITDA) were down 4% at $501 million, beating the $477 million expected by analysts in a company-provided consensus and allowing it to stick to its previous full-year guidance.

Iron Ore Futures Fall as Chinese Demand Softens

32 minutes ago

Chinese iron ore futures fell below a key 1,000 yuan per tonne level on Thursday, falling more than 5% to their lowest in more than two months as domestic consumption remains sluggish on steel production controls.The most active iron ore futures on the Dalian Commodity Exchange, for September delivery, plunged as much as 5.6% to 999 yuan ($154.54) per tonne, their lowest since May 27. They were down 4.6% to 1,009 yuan a tonne as of 0322 GMT."Domestic consumption (for iron ore) is weakening significantly... due to different perception of crude steel output cuts, iron ore prices have been fluctuated recently," analysts with Huatai Futures wrote in a note.

Cox Marine Pushing Through Supply Chain Delays

13 hours ago

The 300hp diesel outboard manufacturer has decided to bring its PTT production in-house to alleviate pressures caused by supply chain delays and disruptionsCox Marine began production of the CXO300 in May 2020, and the company said it has seen demand grow strongly for this high-performance diesel outboard engine. However, the pandemic has had a significant impact upon the British diesel manufacturer’s supply chain – particularly the delivery of the major component, the PTT (power, tilt and trim) system. To resolve this, Cox Marine has decided to bring the production of the PTT in-house to its headquarters, located in Shoreham-By-Sea, U.K.

Maritime Reporter and Engineering News (June 2021)

USCG Fleet Modernization Annual