Maritime Review (March – April 2024 Issue)| The Maritime Review
The continuing harassment of China Coast Guard (CCG) reached an unprecedented level in late March 2024 when three (3) Filipino troops on a replenishment mission were wounded after CCG cutters 21555 and 21551 attacked by water cannons the civilian wooden-hulled supply boat Unaizah May 4 carrying passengers and supplies intended for the Philippine stranded ship BRP Sierra Madre in Ayungin Shoal (Second Thomas shoal).| The Maritime Review
MORGAN CITY, Louisiana. Conrad Shipyard is pleased to announce that it has been awarded a contract by the Puerto Rico Maritime Transit Authority (PRMTA) for the construction of 4 cargo and passenger ferry vessels.| The Maritime Review
Mariveles, Bataan – On Friday, January 26, 2024, Herma Group Chairman and CEO Herminio S. Esguerra christened a brand new 12MB tanker, M/Tkr Mayabong. Built by Herma Shipyard Inc. (HSI) – a proudly 100% Filipino-owned ship building and ship repair company under the Ship Building and Maritime Infrastructure Division (SBMID) of the Herma Group – M/Tkr Mayabong will take her place in the growing fleet of sister company Herma Shipping and Transport Corporation (HSTC).| The Maritime Review
Completion of demonstration facility to safely process surplus ammonia from ammonia-fueled vessels.| The Maritime Review
New, Value Added, Eco-Friendly Ships. Shipbuilding exports are taking the lead in Korea’s exports in the first half of the year. During this span, Korea’s exports rose 11.9% year on year. The Korean shipbuilding industry secured four years’ worth of work through the end of the first half of this year. This is the largest order backlog in 12 years. The global ship price index is also at its highest since 2008.| The Maritime Review
The latest Aframax/LRII design, named Aquilo, represents a significant leap in overall performance by integrating state-of-the-art hull design with WindWings®️ technology. Recognizing uncovered potential in both existing ships and new builds, the collaboration focused on rethinking the concept design while optimizing hull and propulsion for substantial wind assistance.| The Maritime Review
In the Supply/demand balance For crude tankers, BIMCO forecasts the supply/demand balance will tighten further during both 2024 and 2025. Low fleet growth, along with increasing sailing distances, create the foundation for the improvement despite a slowing of growth in oil demand.| The Maritime Review
THE PHILIPPINES should build a self-reliant coastal defense system and support local shipbuilders if it wants to become a maritime hub, experts and a local shipbuilder said.| The Maritime Review
During the first 8 months of 2023, contracting of product tanker newbuilds hit a 10-year high, reaching 140 ships and 10.72 million deadweight tons (DWT). The last time more than 10 million DWT were contracted from January to August| The Maritime Review