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Friday, April 29, 2022
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Seafarer Job Satisfaction Falls to Eight Year Low

Published Apr 28, 2022 6:44 PM by The Maritime Executive

While the crew change crisis has fallen out of public view as the COVID-19 pandemic stabilized and recede, many of the same issues continue to weigh heavily on seafarers. The latest Seafarer Happiness Index revealed that job satisfaction and overall happiness among seafarers have declined to an eight-year low. “It’s hugely concerning to see seafarer satisfaction decline quite significantly in our latest Seafarers Happiness Index report, though unsurprising,” said Revd Canon Andrew Wright, Secretary-General of The Mission to Seafarers, organizers...

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After Three Suicides on U.S. Carrier, Crewmembers Voice Concerns

Published Apr 28, 2022 6:12 PM by The Maritime Executive

The U.S. Navy believes that the three recent deaths amongst the crew of the carrier USS George Washington were all suicides, prompting an effort to provide support for the ship's crewmembers and look for any root causes behind the fatalities. In all, seven people aboard Washington have died over the last 12 months from various causes, according to CNN. George Washington has been at Newport News Shipyard for its mid-life overhaul since 2017, and some crewmembers have reported challenging living and...

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Antwerp and Bruges Combine to Become Europe’s Largest Export Port

Published Apr 28, 2022 5:34 PM by The Maritime Executive

The cities of Antwerp and Bruges in Belgium completed the merger of their port companies to form what they are calling Europe’s largest export port. The newly created Port of Antwerp-Bruges looks to leverage the neighboring ports’ strengths in ro-ro, chemical, and container traffic as it works to also prepare for future changes in the shipping industry and address short-term challenges created by the EU sanctions on Russia and the continuing effect from the pandemic. Calling the two ports' operations...

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Trade Groups Urge Congress to Complete Ocean Shipping Reform Act 

Published Apr 28, 2022 3:48 PM by The Maritime Executive

A collation of nearly 100 U.S. trade associations representing everything from manufacturing to retailing, food, trucking, warehousing, and agriculture, sent a joint letter to the leaders of the U.S. House of Representatives and Senate commerce and trade committees urging Congress to complete the reforms to the Ocean Shipping Act. After having passed both houses, the lawmakers need to convene a conference committee to resolve differences before the bill can proceed to President Biden who is expected to sign it into...

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Offshore

TotalEnergies Takes $4.1B Writedown on Arctic LNG 2 Terminal

TotalEnergies has revealed the price tag that EU sanctions have imposed for its holdings in the Arctic LNG 2 project, a giant natural gas shipping terminal under development on Russia's northern coast.  Due to sanctions on Russian banks and other entities in Russia, TotalEnergies decided to write off its proven reserves for the megaproject in March. In early April, the EU imposed a ban on the export of European LNG liquefaction technology to Russian producers, raising the risk that Arctic...

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Shipbuilding

Kawasaki Wins Approval and Provides Details for Large Hydrogen Carrier

Kawasaki Heavy Industries is making significant progress in its efforts to design and commercialize the first large-scale liquified hydrogen carrier. The Japanese shipyard announced a year ago that it was pursuing the design of a large-scale vessel based on the anticipated rapid development of hydrogen as an alternative energy source. The company has now received design approval for both the cargo containment system and the vessel overall as it continues detailed design work targeting commercial operations starting in the mid-202s....

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Environment

Svitzer Goes Global With Carbon-Offset Towage Service

Svitzer has expanded the availability of its carbon-offset towage program worldwide through a partnership with PortsDirect, a port-services contract management provider. Svitzer runs 10 harbor tugs on 100-percent biofuel at the ports of London and Medway. The fuel is hydrogenated vegetable oil (HVO) made from used cooking oil and other waste feedstocks, and it does not require edible oils to produce. Svitzer reports that it is 90 percent carbon-neutral on a well-to-wake basis (compared with conventional marine fuels).  This specialized...

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Business

Maersk Adds $6B to Forecast While Warning of Slowing Volume Growth

Citing continuing strength in ocean shipping and freight rates, A.P. Moller – Maersk previewed its strong financial results for the first quarter of 2022 while also raising expectations for the full year’s financial performance. The shipping giant, however, cautioned of reduced expectations for volume growth as part of the expected “normalization in ocean,” in the second half of 2022, which many analysts are reading as an early indicator of a slowing in the global economy and potential for a recession....

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