Hottest Year on Record Drives Billion-Dollar Catastrophe Losses

  • Extreme Weather Events Push Insured Losses Past $100 Billion.
  • European Inland Waterways Struggle Amid Climate Disruptions.
  • Rhine River Flooding Causes Major Cargo Delays.

It has officially been the hottest year globally since records were maintained, causing a record-breaking amount of losses through natural catastrophes. For the fifth time in succession, natural catastrophe losses crossed US$100 billion for Swiss Re.
It has been reported that 37 extreme weather events lost more than US$1...

https://mfame.guru/hottest-year-on-record-drives-billion-dollar-catastrophe-losses/

Mintra Joins INTERTANKO as an Associate Member

  • Industry Endorsements Secure Mintra’s Membership with INTERTANKO.
  • Mintra Gains Access to Valuable Maritime Data and Insights.
  • Mintra Commits to Advancing Tanker Industry Safety and Operational Excellence.

Tanker Operator has reported that Mintra, the world’s largest digital learning and human capital management solutions company, has welcomed a new relationship: as an Associate Member of the International Association of Independent Tanker Owners (INTERTANKO).

INTERTANKO’s Mission and Mintra’s...

https://mfame.guru/mintra-joins-intertanko-as-an-associate-member/

IMCA Safety Incidents and Trends Overview for 2024

  • Six equipment failure cases included two small boat structural failures.
  • Thirteen dropped object incidents involved items falling during lifting operations.
  • Deeper incident analysis and enhanced safety measures are planned for the future.

The International Marine Contractors Association has published its overview of safety incidents and events for 2024, outlining key concerns and trends. This report comprises a total of 24 Safety Flashes reporting on 88 separate incidents or events experienced...

https://mfame.guru/safety-flash-emails-for-mca-members/

First Two of Eleven Sea1 Vessels Integrated into Aurora’s Fleet

  • Aurora Offshore adds Siem Pearl and Siem Challenger from Sea1 Offshore.
  • Management transfers completed in Harøy, Norway, and Aberdeen, UK.
  • Nine more vessels to join Aurora’s fleet under new collaboration.
  • Vessels are 2009-built and active in the North Sea spot market.
  • Sea1 Offshore orders methanol-ready vessels for future operations.

Aurora has assumed management of the Siem Pearl and Siem Challenger, marking a significant milestone in its operations. The transfer process was finalized in...

https://mfame.guru/first-two-of-eleven-sea1-vessels-integrated-into-auroras-fleet/

Sanctions Force Russia’s Tanker Fleet to Abandon Reputable Flags

  • Russia’s oil tankers face flag changes due to US and UK sanctions, disrupting its shipping operations.
  • Barbados and Panama are delisting Russian-linked ships, pushing them to find alternative registries.
  • Sanctions pressure has led Russia to rely on lesser-known flag states, impacting maritime safety standards.

Sanctions from the US and UK are forcing Russia’s oil tanker fleet to adapt by changing the national flags under which they operate, creating logistical challenges and disruptions in the...

https://mfame.guru/sanctions-force-russias-tanker-fleet-to-abandon-reputable-flags/

Oil Tanker Transits Through Suez Canal Increase Post-Ceasefire Agreement

  • First Crude Shipments Transit Suez Canal After Israel-Hamas Ceasefire.
  • South Korean Refiner Receives Regular Shipments Despite Security Concerns.
  • Lingering Security Fears Impact Mediterranean Crude Imports to Asia.

In a report by S&P Global Commodities at Sea and market participants on January 23, oil tanker transits through the Suez Canal are picking up gradually since the Israel-Hamas ceasefire agreement. The Suez Canal will return to normal operational levels sooner rather than later, with...

https://mfame.guru/oil-tanker-transits-through-suez-canal-increase-post-ceasefire-agreement/

China Overtakes Japan as Top Shipowning Nation by Fleet Value

  • China Leads with $255 Billion Fleet, Dominates Bulker and Container Sectors.
  • Japan Falls to Second Place Despite Fleet Value Growth of 12%.
  • Greece Maintains Third Position, Boasts Highest Value Tanker Fleet.

China has surpassed Japan to become the world’s biggest shipowning nation by asset value, its fleet now totalling $255 billion according to VesselsValue, as of January 2025. This shift is significant as it marks the first time that the ranking of the global shipping dynamics changes within...

https://mfame.guru/china-overtakes-japan-as-top-shipowning-nation-by-fleet-value/

Maersk Prioritizes Safety with Cape of Good Hope Re-Routing

  • Maersk re-routes networks via the Cape of Good Hope, prioritizing safety amid regional tensions.
  • The Israel-Hamas ceasefire is a positive step but risks in the Red Sea remain high.
  • Maersk’s East-West network will shift to the Cape of Good Hope starting February 2025.

Amid the ongoing Israel-Hamas ceasefire, Maersk is adapting its operations to ensure the safety of its crew, vessels, and cargo.

Ceasefire and Regional Tensions

The Israel-Hamas truce and Houthi plans to cease attacks offer hope for...

https://mfame.guru/maersk-prioritizes-safety-with-cape-of-good-hope-re-routing/

KIMM and Hyundai Unveil World-First Ammonia Injection Technology

  • A 2-liter engine using ammonia as a renewable, zero-carbon fuel has been developed.
  • High-pressure liquid injection ensures stable power output and reduces harmful emissions.
  • Potential for use in vehicles, ships, aircraft, and industrial power generators.

In collaboration with Hyundai Motor and Kia, the Korea Institute of Machinery and Materials (KIMM) has unveiled a revolutionary 2-liter engine capable of directly injecting ammonia into its combustion chamber. This pioneering technology...

https://mfame.guru/kimm-and-hyundai-unveil-world-first-ammonia-injection-technology/

Black Sea MoU CIC 2024: Crew Wages & Employment

  • Inspection and detention figures highlight scope and focus areas.
  • Significant issues include missing SEAs and delayed wage payments.
  • Bulk carriers and general cargo ships dominate the inspection list.

Between 1 September and 30 November 2024, the Black Sea MoU held a Concentrated Inspection Campaign, concentrating on Crew Wages and Seafarer Employment Agreements based on the provisions of the Maritime Labour Convention, 2006 (MLC, 2006), also covering other financial security aspects arising...

https://mfame.guru/black-sea-mou-cic-2024-crew-wages-employment/