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The US Federal Maritime Commission (FMC) has collected $1.35m in civil penalties after reaching compromise agreements with two carriers accused of violating the Shipping Act. The larger settlement — $1.3m — was paid by Hyundai Glovis, the Seoul-based vehicle carrier giant operating across US–foreign trades. FMC investigators alleged the company provided services that were not …
https://splash247.com/fmc-secures-1-35m-in-penalties-from-hyundai-glovis-and-olympiad-line/
https://splash247.com/fmc-secures-1-35m-in-penalties-from-hyundai-glovis-and-olympiad-line/Capesize sentiment continues to heat up, with a 15-year-old unit now trading above the $30m mark — a level traditionally considered the shunned zone by first-class charterers. At the beginning of the month, it was a 14-year-old cape that broke the $30m barrier, now with cape rates above $30,000 a day even older tonnage is getting …
https://splash247.com/15-year-old-cape-breaks-the-30m-barrier/
https://splash247.com/15-year-old-cape-breaks-the-30m-barrier/With the line between welfare and technology disappearing, the maritime industry faces a simple truth — connection is no longer optional. An in-depth Inmarsat survey of nearly 400 seafarers working on merchant ships, offshore support vessels or high-end fishing vessels across the globe shows that seafarers are increasingly experiencing a sense of a ‘floating home’ …
https://splash247.com/how-the-internet-is-transforming-life-and-labour-at-sea/
https://splash247.com/how-the-internet-is-transforming-life-and-labour-at-sea/The Global Centre for Maritime Decarbonisation, together with AIM Horizon Investments, the Development Bank of Japan (DBJ), ING and DBS Bank, have closed the Fund for Energy Efficiency Technologies (FEET), securing total commitments of up to $35m, surpassing initial targets. FEET is the world’s first vessel retrofit fund to use a pay-as-you-save repayment mechanism, directly …
https://splash247.com/35m-raised-for-the-worlds-first-pay-as-you-save-vessel-retrofit-fund/
https://splash247.com/35m-raised-for-the-worlds-first-pay-as-you-save-vessel-retrofit-fund/“Hong Kong is in a sweet spot,” said Richard Hext last night on taking over the reins of the local shipowners association in one of the highlights of the city’s ongoing maritime week. Hext, the chairman of Vanmar Shipping, started his career 50 years ago working at a shipyard in Britain. His career is …
https://splash247.com/hong-kong-is-in-a-sweet-spot-richard-hext-talks-up-citys-maritime-prospects/
https://splash247.com/hong-kong-is-in-a-sweet-spot-richard-hext-talks-up-citys-maritime-prospects/The Bureau of Ocean Energy Management announced a Proposed Notice of Sale for the second offshore oil and gas lease sale under the One Big Beautiful Bill Act. The proposed lease sale, known as Big Beautiful Gulf, or BBG2, is scheduled to take place on March 11…
https://www.marinelink.com/news/boem-proposes-second-gulf-america-lease-532670
https://www.marinelink.com/news/boem-proposes-second-gulf-america-lease-532670All 267 people on board a South Korean passenger ferry that ran aground off the southwestern tip of the Korean peninsula on Wednesday were rescued, in an incident that revived memories of the major ferry disaster in 2014 in which 300 people…
https://www.marinelink.com/news/south-korean-ferry-runs-aground-souls-532674
https://www.marinelink.com/news/south-korean-ferry-runs-aground-souls-532674U.S. natural gas futures climbed about 4% on Wednesday on near-record flows to liquefied natural gas export plants and forecasts for higher demand than previously expected as the weather turns colder than normal going into December.Front-month…
https://www.marinelink.com/news/us-natural-gas-futures-climb-lng-flows-532682
https://www.marinelink.com/news/us-natural-gas-futures-climb-lng-flows-532682A gas tanker had just left its berth at the Port of Brisbane, Australia, when it lost propulsion for two minutes as two of its three electrical generators were not properly configured, an ATSB final report has confirmed.On March 15, 2025, the 100-metre…
https://www.marinelink.com/news/blackout-due-incorrectly-configured-532684
https://www.marinelink.com/news/blackout-due-incorrectly-configured-532684Genco Shipping & Trading, the largest U.S. headquartered dry bulk shipowner focused on the global transportation of commodities, has agreed to acquire two 2020-built 208,000 dwt scrubber fitted Newcastlemax vessels for a total purchase price…
https://www.marinelink.com/news/genco-acquire-two-highspecification-532686
https://www.marinelink.com/news/genco-acquire-two-highspecification-532686