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pirates board product tanker in Gulf of Guinea

Korean Tanker Boarded by Pirates for the Second Time in Gulf of Guinea

Published Nov 25, 2022 12:40 PM by The Maritime Executive

South Korean officials and security operations monitoring the Gulf of Guinea are confirming that a South Korean-owned product tanker was boarded by pirates near Cote d'Ivoire and later released. The incident, which served as a reminder that piracy continues to be a danger in the region, was the second time that the same product tanker had been boarded in 2022. The monitoring operation MDAT GOG (Maritime Domain Awareness for Trade Gulf of Guinea) raised the initial alarm of a possible...

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MOL cruise ship expansion

Mitsui OSK Plans New Cruise Ships as it Seeks to Diversify Business

Published Nov 25, 2022 11:31 AM by The Maritime Executive

Japan’s Mitsui O.S.K. Lines (MOL), while best known for its commercial shipping operations, is looking to new avenues of growth including investments in its cruise ship operations. While not well known for its cruises, the company in addition to its passenger ferries has been operating a single cruise ship for the past 30 years in the domestic market. MOL confirmed that its board of directors has approved a plan to build two new cruise ships that would continue the company’s long...

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strike Hyundai shipyards

Korean Unions Schedule Unified December Strike at Hyundai’s Shipyards

Published Nov 25, 2022 10:57 AM by The Maritime Executive

Unions represented workers at the Hyundai shipyards that make up the Korea Shipbuilding & Offshore Engineering Company detailed plans for strikes beginning in December in a long-running dispute over wages and working conditions. If the strikes proceed as planned, it would be the first time the unions for the three shipyards would have coordinated their action into a single companywide strike. Unions represented the workers at the Hyundai Heavy Industries shipyard, Samho Heavy Industries, and Mipo Dockyard, coordinated a

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Diagram of proposed Vadhavan port complex

India's Megaport Ambitions Draw Strong Local Opposition

Published Nov 25, 2022 10:16 AM by The Maritime Executive

Local fishermen have set up a blockade in a months-long attempt to halt construction of Gautam Adani's Vizhinjam container port. The plan is simple: the community has set up a small shelter in front of the entrance to prevent construction equipment from going in and out. Since August, this protest has halted progress on the $900 million project. Though courts have ordered the protesters cleared from the area, local police have so far been unwilling to use force to carry...

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Offshore

File image of wind turbines offshore

Denmark Helps India Map Sites for Offshore Wind Development

To pursue its ambitious target of 30GW of offshore wind by 2030, India has published a conceptual plan identifying 15 priority zones to locate offshore windfarms. The plan will act as a government technical guide for the upcoming auction of offshore wind sites. India’s Ministry of New and Renewable Energy (MNRE) released the auction plan for offshore wind in June. It then updated the auction plan in July, detailing the auction models and applicable government incentives for successful bidders. Last...

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Shipbuilding

strike Hyundai shipyards

Korean Unions Schedule Unified December Strike at Hyundai’s Shipyards

Unions represented workers at the Hyundai shipyards that make up the Korea Shipbuilding & Offshore Engineering Company detailed plans for strikes beginning in December in a long-running dispute over wages and working conditions. If the strikes proceed as planned, it would be the first time the unions for the three shipyards would have coordinated their action into a single companywide strike. Unions represented the workers at the Hyundai Heavy Industries shipyard, Samho Heavy Industries, and Mipo Dockyard, coordinated a

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Environment

eliminating single-use plastics

BIMCO Joins Efforts to Eliminate Single-Use Plastics on Ships

Reducing the overall use of single-use plastic and removing items like plastic bottles and drinking straws from ships is one of the many efforts designed to reduce the amount of plastic waste in the oceans. The cruise industry adopted the efforts several years ago to stop the use of single-use plastics on many cruise ships and now the commercial industry trade association BIMCO is also getting involved by launching a campaign to raise awareness and help support the removal of...

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Business

2023 outlook for container shipping

Xeneta: Overcapacity and Falling Volumes Will Challenge Market in 2023

After over two years of rising rates and overstretched capacity, the rapidly cooling ocean freight market is setting up for an “extremely challenging 2023,” according to Oslo-based Xeneta. The operator of a market intelligence platform predicts that with a continuing decline in cargo volumes, ocean freight rates will drop significantly prompting carriers to increasingly idle their fleets after two years when they pressed every available ship and container into service. From climbing to historical highs during the global pandemic, ocean...

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