1. Thousands of shipping containers have been lost at sea. What happens when they burst open? Russ Lewis has picked up some strange things along the coast of Long Beach Peninsula in Washington state over the years: Hot Wheels bicycle helmets with feather tufts, life-size plastic turkey decoys made for hunters, colorful squirt guns.
https://cyprusshippingnews.com/2024/10/08/thousands-of-shipping-containers-have-been-lost-at-sea-what-happens-when-they-burst-open/
https://cyprusshippingnews.com/2024/10/08/thousands-of-shipping-containers-have-been-lost-at-sea-what-happens-when-they-burst-open/
2. With strike over, some US ports extending gate hours; container rates fall further. With the suspension of the strike at US Gulf and East Coast ports until 15 January, carriers are urging customers to use extended gate times being offered by some ports to collect or deliver any urgent containers to terminals.
https://cyprusshippingnews.com/2024/10/08/with-strike-over-some-us-ports-extending-gate-hours-container-rates-fall-further/
https://cyprusshippingnews.com/2024/10/08/with-strike-over-some-us-ports-extending-gate-hours-container-rates-fall-further/
3. FuelEU Maritime’s Targets, Compliance, and Penalties. The FuelEU Maritime Regulation is a cornerstone of the European Union’s “Fit for 55” package, a bold policy initiative designed to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels. This ambitious agenda is not just a step towards regulatory compliance but a vital pathway for the maritime industry to contribute to the EU’s long-term goal of climate neutrality by 2050.
https://cyprusshippingnews.com/2024/10/08/fueleu-maritimes-targets-compliance-and-penalties/
https://cyprusshippingnews.com/2024/10/08/fueleu-maritimes-targets-compliance-and-penalties/
4. IMO sets clear pathway for future black carbon regulation. The Clean Arctic Alliance welcomed progress by the International Maritime Organization’s Marine Environment Protection Committee towards regulation of black carbon emissions from Arctic shipping, but lamented the UN body’s “kicking down the road” any decision regarding rules for scrubber use in the region.
https://cyprusshippingnews.com/2024/10/08/imo-sets-clear-pathway-for-future-black-carbon-regulation/
https://cyprusshippingnews.com/2024/10/08/imo-sets-clear-pathway-for-future-black-carbon-regulation/
5. Equinor spends $2.5bn to become a shareholder in Ørsted. Norwegian energy major Equinor has acquired a 9.8% stake in Danish offshore wind player Ørsted and became the second largest shareholder in the company after the Danish state.
Equinor said that its ownership position had been built over time, through a combination of market purchases and a block trade.
https://splash247.com/equinor-spends-2-5bn-to-become-a-shareholder-in-orsted/
https://splash247.com/equinor-spends-2-5bn-to-become-a-shareholder-in-orsted/
6. Norway sets aside $3.3bn for floating wind subsidies. The Norwegian government is continuing with its policies of developing more offshore wind with a proposal for NOK 35bn ($3.29bn) in subsidies for floating offshore wind in the Vestavind F and Vestavind B areas.
The government proposes to put the $3.3bn in the national budget for 2025 and use it to subsidise floating wind in the two areas and push Norway towards hitting its goal of 30 GW of offshore wind production by 2040. The subsidy program has already been subject to public consultation.
https://splash247.com/norway-sets-aside-3-3bn-for-floating-wind-subsidies/
https://splash247.com/norway-sets-aside-3-3bn-for-floating-wind-subsidies/
7. Average newbuild price in 2024 cracks $90m, 30% above previous high. It has been a banner year for Asian shipbuilders with average prices for newbuilds hitting record highs. According to the latest data from Clarksons Research, the average newbuild price in 2024 has hit $90m, 30% above the previous high set in 2022, and far above the average levels across the last decade of closer to $50m.
https://splash247.com/average-newbuild-price-in-2024-cracks-90m-30-above-previous-high/
https://splash247.com/average-newbuild-price-in-2024-cracks-90m-30-above-previous-high/
8. IMO moves closer to carbon levy. The Marine Environment Protection Committee (MEPC) meeting at the headquarters of the International Maritime Organization (IMO) concluded on Friday whittling the proposals for mid-term policy measures capable of driving an energy transition in international shipping down to just three options, with a likely greenhouse gas (GHG) reduction pathway selected next year.
https://splash247.com/imo-moves-closer-to-carbon-levy/
https://splash247.com/imo-moves-closer-to-carbon-levy/
9. Record-breaking Mid-Season Results from Protecting Blue Whales and Blue Skies Program. Protecting Blue Whales and Blue Skies, a vessel speed reduction program for safer whales, cleaner air, and a quieter ocean, has released a mid-season report on the 2024 season, which runs May through December. The program reports the largest number of shipping lines participating in the history of the program, with 37 companies enrolled and 14 achieving the highest recognition level. Those enrolled represent the majority of shipping traffic visiting California ports.
https://gcaptain.com/record-breaking-mid-season-results-from-protecting-blue-whales-and-blue-skies-program/
https://gcaptain.com/record-breaking-mid-season-results-from-protecting-blue-whales-and-blue-skies-program/
10. Who Is Harold Daggett? The Man Behind The Longshoremen Union. When the history books are written about the fate of longshoremen in the US, few characters will loom as large as Harold Daggett.The 78-year-old has risen from working on the docks to become one of the most influential and highest-paid union leaders — a firebrand who rails against corporate greed while taking home nearly $1 million in annual pay. And despite reports of a lifestyle of luxury cars, a mansion in New Jersey and previous allegations of ties to powerful mobsters, members of the International Longshoremen’s Association have fully embraced Daggett and his bare-knuckled approach.
https://gcaptain.com/harold-daggett-biography-ila-longshorman-union/
https://gcaptain.com/harold-daggett-biography-ila-longshorman-union/