ABB News

Long-term contracted ocean freight rates fell by 3.6% in January 2022, according to the latest Xeneta Shipping Index (XSI®) Public Indices. Based on crowd-sourced data from global shippers, the analysis shows the second consecutive monthly rates decline, following a staggering 14 months of consistent increases. As such, despite the dip, contracted rates stand 98.1% up year on year, demonstrating the commanding position carriers continue to occupy in shipping negotiations.  Pain and g...

Håkan Agnevall, the Chief Executive Officer (CEO) at Wärtsilä (Wärtsilä Corporation), wants to position the marine and energy giant, as the natural partner for an industry and society, looking to translate climate ambition to reality. His vision is clear and he argues ahead of Nor-Shipping 2022, real change is already tantalisingly close at hand. It’s rare for someone to speak with such certainty in uncertain times. Clear path for Wärtsilä But, H&arin...

Master Boat Builders has begun construction of Crowley’s eWolf, the first all-electric ship assist tug in the U.S., at its shipyard in Coden, Ala. “Initiating construction of the first-ever fully electric U.S. tugboat, the eWolf marks a historic moment for Crowley and Master Boat Builders,” said Garrett Rice, President of Master Boat Builders. “Today is also a remarkable milestone for the entire U.S. maritime industry, as we work toward providing groundbreaking...

Urban areas account for over 70 percent of the world’s CO2 emissions, with heating and cooling representing the largest share of energy consumption, so delivering sustainable and affordable heating and cooling to cities is a priority in the fight against climate change. ABB will deploy its complete electrical, instrumentation, and control (EIC) package, motors and variable speed drives for the powerhouse of the heat pump, which will be the world’s largest seawater heat pum...

Ocean carriers remain in pole position in negotiations for long-term freight contracts, with high demand, port congestion, and supply chain disruption driving further rate increases. The rise in freight rates  According to the Xeneta Shipping Index (XSI®) Public Indices, long-term rates recorded their tenth consecutive month-on-month rise in October, climbing by 2.2%. The indices stand at a colossal 93.1% up year-on-year, with little hope of relief on the horizon for embattled shipper...

Xeneta’s Long-Term XSI Public Indices has revealed yet another monthly hike in long-term ocean freight rates, with global container prices climbing by 3.2%. The development follows a 2.2% increase in August 2021 and an unprecedented 28.1% jump in July 2021, leaving rates now standing 91.5% up year-on-year. What’s more, Oslo-based Xeneta reports there is little evidence to suggest a weakening of market fundamentals – meaning there could be more pain in store for shippers, with...

Where winters are harshest, the toughest technology is required for marine operations to continue uninterrupted during the frozen months. For 30 years, Azipod® propulsion has proven to be up to the task, keeping harbours open and moving goods and people through the most challenging sea ice conditions on the planet. A revolution from the start, Azipod® technology has continued to break new ground, or ice, throughout its lifetime. More than 90 ice-going vessels equipped with Azipod® p...

The hybrid-electric exploration cruise vessel Le Commandant Charcot became the first vessel of its kind to reach the geographic North Pole on September 6, 2021, as it was completing the sea trials in preparation for welcoming guests for the maiden voyage later this year. Equipped with Azipod® propulsion technology, the luxury cruise ship produces minimal noise and vibrations to provide a comfortable passenger experience. Moreover, the ship’s energy storage system, supplied and integra...

Critical vessel functions rely heavily on computerised software-based systems that are becoming more complex, automated, and integrated. Software failures or reliability issues can now result in significant safety risks, as well as lost revenue due to off-hire days. To help address these risks, DNV and Nakilat brought together shipyards – DSME, Hudong-Zhonghua, HHI, and SHI, with system suppliers – ABB, Honeywell, Kongsberg, and Wärtsilä, to contribute to the development o...

The 11th Edition of INMEX SMM organised by Informa markets India kick-started at Bombay exhibition center with over 260 exhibitors participating in the three-day exhibition. The scaled-up 2019 edition of the INMEX SMM India Expo brings buyers and manufacturers from across the globe to conduct business and be a coveted conglomeration of global industry leaders, key decision-makers, government agencies and key trade associations, to network, explore new business opportunities and unveil services...

Oslo-based Xeneta, the ocean freight rate benchmarking and market analytics platform, has revealed a jump in long-term contracted rates for containership operators during May, as 2018 rates expire and new contracts push the index upwards. Global rates Global rates leaped by 11.5% across the month, with US rates for imports climbing by close to 20%" According to the latest XSI® Public Indices report, based on crowd-sourced data covering over 160,000 port-to-port pairings, with 110 million...