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International Seaways Announces Q4 and Full-Year 2024 Financial Results

1 month ago | maritimeprofessional.com | Rhonda Moniz

International Seaways, Inc. (NYSE: INSW), one of the world’s largest tanker companies, today announced financial results for the fourth quarter and full year of 2024, highlighting strong earnings, fleet optimization efforts, and continued shareholder returns. Financial Highlights:Q4 2024 Net Income: $36 million ($0.72 per diluted share). Full-Year 2024 Net Income: $417 million ($8.38 per diluted share). Adjusted Net Income: $45 million for Q4 2024, excluding a non-cash impairment charge.
Bilbao Port Authority Progresses on '23-'26 Strategy Plan

1 month ago | maritimeprofessional.com | Rhonda Moniz

The Bilbao Port Authority reports it ismaking progress toward its 2023-2026 Strategy Plan, with advancements in sustainability, infrastructure and economic growth. Key highlights include:Sustainability Initiatives: The port has reduced air pollution and carbon footprint by 27%, launched dock electrification projects, and secured €80 million from the European Investment Bank to fund renewable energy efforts.
Nigeria Strengthens Maritime Collaboration with The Gambia to Enhance Regional Security and Economic

1 month ago | maritimeprofessional.com | Rhonda Moniz

The Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, CON, has reaffirmed Nigeria’s commitment to strengthening maritime collaboration with The Gambia to bolster regional security and economic growth. Speaking at the Fourth Blue Economy Conference in Banjul, the Minister emphasized the importance of cooperative efforts in maritime security, trade facilitation, and environmental sustainability.
50-Year Deal Signed for Grain Hub at Khalifa Port

2 months ago | maritimeprofessional.com | Rhonda Moniz

AD Ports Grouphas signed a 50-year land lease agreement with Al Ain Mills, an Al Hazaa Investment Group member. This strategic partnership will see the development of a state-of-the-art grain storage and processing facility at Khalifa Port at South Quay, further enhancing its capabilities and reinforcing its position as a premier trade hub in the region.
Ultranav Starts Trial with Behavior Change Service Signol to Minimize CO2 Emissions

2 months ago | maritimeprofessional.com | Rhonda Moniz

Even minor adjustments in daily operations can contribute to fuel savings and reduced emissions. To support these improvements, Ultranav is launching a 6-month trial with Signol – a behavior change service designed to encourage fuel-saving practices among crew members. The trial with Signol, used on 19 vessels across Ultranav, is an additional initiative to save fuel and lower emissions.
MEGA INFRASTRUCTURE: Inside the Chickamauga Lock Upgrade Project

2 months ago | maritimeprofessional.com | Greg Trauthwein

This episode of Maritime Matters: The MarineLink Podcast, delves into the critical importance of the inland waterways infrastructure in the U.S., focusing on the Chickamauga Lock Project on the Tennessee River. A trio of experts discusses with MarineNews magazine the current state of the inland waterways, the history and significance of the Chickamauga Lock, and the ongoing efforts to modernize this essential infrastructure.
Tanker hit by Houthis salvaged, Red Sea disaster averted

Jan 13, 2025 | maritimeprofessional.com | Renee Maltezou

A risky operation to salvage an oil tanker attacked by Houthi militants in the Red Sea and avert what could have been one of the largest oil spills in recorded history has been completed, British maritime security company Ambrey and Greece have said. The 900-foot Greek-registered MT Sounion, carrying 150,000 tonnes of crude oil, was struck by several missiles and drones and caught fire on Aug. 21, triggering fears of an oil spill that could cause catastrophic environmental damage in the area.
Hapag-Lloyd Expects Lower 4Q Profitability

Dec 2, 2024 | maritimeprofessional.com | Andrey Sychev

Hapag-Lloyd expects lower profitability in the fourth quarter but still at a "good level", after freight rates peaked in the third quarter, Rolf Habben Jansen, the CEO of the German shipping company, said at a press conference on Monday. Habben Jansen also expects disruptions in the Red Sea linked to Houthi militants to continue well into 2025, meaning that rerouting around Africa would continue.
OPINION: New Challenges for Shipping in 2025 Emphasize Data Importance

Nov 20, 2024 | maritimeprofessional.com | Rene Christensen

Every year, shipping is faced with new requirements to protect the climate and the environment, and 2025 is no exception. Increased EU requirements for documentation on methane and other emissions from ships will come into force on January 1, 2025, and right now several shipping companies are assessing what to do with the new requirements, while others have not yet realised that they are actually obliged to make an extra effort after New Year.
River Level at Amazon Port Hits 122-year Low Amid Drought

Oct 7, 2024 | maritimeprofessional.com | Bruno Kelly |Jake Spring

The river port in the Amazon rainforest's largest city of Manaus on Friday hit its lowest level since 1902, as a drought drains waterways and snarls transport of grain exports and essential supplies that are the region's lifeline. Below-average rainfall - even through the rainy season - has plagued the Amazon and much of South America since last year, also feeding the worst wildfires in more than a decade in Brazil and Bolivia. Researchers say climate change is the main culprit.