1. Port Milwaukee Specializes In Bulk Materials
Port Milwaukee, positioned on the western shores of Lake Michigan, allows for direct access to global markets via the St. Lawrence Seaway. As the northernmost approved port on the Great Lakes with access to the inland river system, Port Milwaukee also has access to Gulf Coast ports. The port offers several facilities and over 50 acres dedicated to dry bulk storage handling, including four storage domes totalling 50,000 tonnes of storage capacity.
https://www.shippingtribune.com/news/shipping/Port+Milwaukee+Specializes+In+Bulk+Materials+
https://www.shippingtribune.com/news/shipping/Port+Milwaukee+Specializes+In+Bulk+Materials+
2. Shipping container rates from China jump to 2-year high as panic sets in amid US tariff threat, Red Sea disruptions Ocean freight rates from China are once again surging as exporters front-load shipments for the holiday season battered by worries about US tariff increases and prolonged Red Sea disruptions.
The Shanghai Containerized Freight Index, a gauge of container shipping rates compiled by the Shanghai Shipping Exchange, climbed 12.6 per cent to 3,044.77 last week. It was the first time since August 2022 that the indicator, which is published on a weekly basis, broke through the 3,000-point level.
https://www.shippingtribune.com/news/shipping/Shipping+container+rates+from+China+jump+to+2-year+high+as+panic+sets+in+amid+US+tariff+threat%2C+Red+Sea+disruptions
https://www.shippingtribune.com/news/shipping/Shipping+container+rates+from+China+jump+to+2-year+high+as+panic+sets+in+amid+US+tariff+threat%2C+Red+Sea+disruptions
3. New York Finalizes Contracts for Two Massive Offshore Wind Projects New York Governor Kathy Hochul announced the finalization of contracts for two major offshore wind projects, Empire Wind 1 and Sunrise Wind, as part of the state’s fourth offshore wind solicitation. Empire Wind 1, a 810-megawatt project developed by Equinor, and Sunrise Wind, a 924-megawatt project developed by Ørsted and Eversource, will collectively generate over 1,700 megawatts, enough to power more than one million homes at full power.
https://gcaptain.com/new-york-finalizes-contracts-for-two-massive-offshore-wind-projects/
https://gcaptain.com/new-york-finalizes-contracts-for-two-massive-offshore-wind-projects/
4. Union Maritime to Equip 34 Newbuilds with Wind Propulsion Technology UK-based chemical tanker owner and operator, Union Maritime, is set to equip its fleet with industry-leading wind propulsion technology. The company is collaborating with BAR Technologies, the provider of WindWings. The innovative rigid sail technology promises an average daily saving of 1.5 tonnes of fuel per wing and significant CO2 reductions on typical global routes.
https://gcaptain.com/union-maritime-to-equip-34-newbuilds-with-wind-propulsion-technology/
https://gcaptain.com/union-maritime-to-equip-34-newbuilds-with-wind-propulsion-technology/
5. Equinor Secures Offtake Contract with New York State for Empire Wind 1 Project Equinor, a leading energy company, has announced the execution of a Purchase and Sale Agreement (PSA) with the New York State Energy Research and Development Authority (NYSERDA) for the renewable energy produced by the Empire Wind 1 offshore wind project.
https://gcaptain.com/equinor-secures-offtake-contract-with-new-york-state-for-empire-wind-1-project/
https://gcaptain.com/equinor-secures-offtake-contract-with-new-york-state-for-empire-wind-1-project/
6. 5G investment to catapult Singapore shipyard to cutting edge Seatrium and M1 have signed a memorandum of understanding (MoU) to accelerate digital connectivity to enhance shipyard operations as part of Seatrium’s digital transformation. This strategic partnership is viewed as a “significant milestone” and an “integral part of Seatrium’s digital strategy”, as it aims to establish a smart shipyard equipped with high-speed connectivity and advanced technologies.
https://www.rivieramm.com/news-content-hub/5g-investment-unlocks-digital-technologies-for-singaporean-shipyard-81020
https://www.rivieramm.com/news-content-hub/5g-investment-unlocks-digital-technologies-for-singaporean-shipyard-81020
7. Israel aims to boost Red Sea oil deliveries despite environmental risks Israel plans to allow more oil tankers to dock at a Red Sea port in Eilat despite environmental risks, as it strives to maintain energy security amid conflict on multiple fronts, according to Israeli officials and government documents.
Prime Minister Benjamin Netanyahu’s office wants to revoke restrictions on the amount of oil that can be unloaded at a jetty in the city, which sits in the middle of a string of resorts and beaches and is adjacent to a fragile coral reef.
https://cyprusshippingnews.com/2024/06/05/israel-aims-to-boost-red-sea-oil-deliveries-despite-environmental-risks/
https://cyprusshippingnews.com/2024/06/05/israel-aims-to-boost-red-sea-oil-deliveries-despite-environmental-risks/
8. Dry Bulk Market: Momentum returning to the Capesize Sector After a slow start due to a UK Bank Holiday, the market quickly regained momentum. The Pacific was notably active, with all three major miners actively fixing throughout the week. Initially rates struggled to gain traction as brokers reported an oversupply of early vessels. However, towards the latter part of the week, the Pacific benefited from an uptick in coal cargoes from Indonesia and East Coast Australia
https://cyprusshippingnews.com/2024/06/05/dry-bulk-market-momentum-returning-to-the-capesize-sector-2/
https://cyprusshippingnews.com/2024/06/05/dry-bulk-market-momentum-returning-to-the-capesize-sector-2/
9. Union Maritime and BAR Technologies join forces to lead on wind propulsion technology Union Maritime is leading the global shipping industry into a new era of wind propulsion.The company is deploying cutting-edge wind technology across its fleet: it is working with BAR Technologies, the supplier of WindWings® – an industry-leading rigid sail technology that uses wind propulsion to deliver average daily savings of 1.5 tonnes of fuel per wing and 6 tonnes of CO2 per wing on typical global routes. Union Maritime are also working with Norsepower for rotor sails on smaller vessels.
https://cyprusshippingnews.com/2024/06/05/union-maritime-and-bar-technologies-join-forces-to-lead-on-wind-propulsion-technology/
https://cyprusshippingnews.com/2024/06/05/union-maritime-and-bar-technologies-join-forces-to-lead-on-wind-propulsion-technology/
10. Metrans expands terminal area in Dunajská Streda Metrans, the rail company of Hamburger Hafen und Logistik AG , has expanded its Slovakian hub terminal in Dunajská Streda by around five hectares. Metrans is thus offering its customers new storage and transportation options at one of the most important intermodal hubs in Central Europe.
https://cyprusshippingnews.com/2024/06/05/metrans-expands-terminal-area-in-dunajska-streda/
https://cyprusshippingnews.com/2024/06/05/metrans-expands-terminal-area-in-dunajska-streda/
