Master Fined for Delayed Reporting of Main Engine Failure

The captain of a Marshall Islands-flagged tanker has been convicted and fined $3,000 AUD in Australia after waiting several hours to report that his ship had suffered a main engine failure and was adrift off the coast of Queensland, the Australian Maritime Safety Authority has announced. The incident leading to the conviction took place last January 31, 2019, when the tanker … [Read more...]

Guyana’s First Oil Sets Sail for United States

By Marianna Parraga and Neil Marks Jan 20 (Reuters) - A vessel carrying Guyana's first-ever shipment of crude set sail on Monday bound for the U.S. Gulf Coast, oil major Exxon Mobil Corp said, marking the tiny South American nation's long-awaited debut as an oil exporter. The Suezmax vessel Yannis P, loaded with about 1 million barrels of Liza light sweet crude was bound … [Read more...]

MSC Returns to Chantiers de l’Atlantique for Two More LNG-Powered Cruise Ships

MSC Cruises hsa returned to the France’s Chantiers de l’Atlantique shipyard for two more LNG-powered cruise ships worth over 2 billion euros.  The two parties on Monday announced that a firm contract has been signed for the construction of two additional MSC World Class ships scheduled for delivery in 2025 and 2027.  The inaugural cruise ship in MSC World Class … [Read more...]

Shipping’s Decarbonization Target Seen Costing At Least $1 Trillion

By Jonathan Saul LONDON, Jan 20 (Reuters) - At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed. The global shipping fleet, which accounts for 2.2% of the world's CO2 emissions, is under pressure to reduce those emissions and other … [Read more...]