Maritime Magazine

  Astatine Investment Partners, a leading private equity firm in Greenwich, CT focused on infrastructure investments, has announced that it has acquired McKeil Marine Limited, a Burlington, Ontario-based transportation company, from TorQuest Partners. Financial details of the transaction were not disclosed. Founded in 1956, McKeil is one of Canada’s leading marine transportation and project service […]

  Brazilian mining giant Vale announced it has signed a contract with Omani shipowner Asyad to install rotor sails on a Valemax, the world’s largest ore carrier, which is 362 meters long, 65 meters wide and able to carry up to 400,000 metric tons of cargo. This technology, developed by British manufacturer Anemoi, uses wind

  Accidental collisions between ships and whales are a global concern, and can occur wherever there is an overlap between whale activity and vessel traffic. To help seafarers plan their voyages to minimize the risk of collisions, the World Shipping Council (WSC) has launched the WSC Whale Chart. This navigational aid is the first global

  As the 2023 cruise season winds down at the Port of Montreal, the Montreal Port Authority announced a 33% upswing in traffic over last year, with 51,000 passengers and 16,200 crew members. As a source of significant economic benefits for the city, Montreal’s cruise industry is proving that it is back in full swing.

  Marine cargo handled at the Port of Toronto generated $463.5 million in economic activity and 1,989 jobs in Ontario in 2022, details a new report – Economic Impacts of Marine Shipping in the Port of Toronto – published by Martin Associates. Economic Impacts of Marine Shipping in the Port of Toronto, which uses 2022 data, highlights the economic benefits of the Port of Toronto as a vital part

  By Leo Ryan, Editor Some 360 unionized Seaway workers in Canada have ratified a new three-year collective agreement that notably includes the settlement of a major wage issue. Wages will see annual increases of 5 %, 4% and 4%, retroactive to April 1st, 2023, along with a $2,000 signing bonus. Resumption of navigation on

  Danish shipping giant A.P. Moller-Maersk has announced plans to cut its workforce by 10,000 employees in face of “worsening market conditions” that have become the “new normal.” The phased reduction into 2024 will bring the global workforce below 100,000 positions. The current global shipping environment is marked by the bursting of the pandemic-fueled bubble. Lower

  Lévis, QC – Davie today announced it has finalized the acquisition of the assets of Finland’s Helsinki Shipyard Oy (HSO). The historic transaction combines the skills, experience and capabilities of two leaders in Arctic shipbuilding and other high-value products. While the Canadian and Finnish shipyard will be separate legal and operating entities, the business

  Rimouski – Novarium, the innovation campus dedicated to the blue economy, announces a strategic partnership with the Port of Québec, one of the five largest ports in Canada. This collaboration aims to create a dynamic ecosystem that promotes innovation, research and sustainable development in the marine sector, while exploiting the unique advantages offered by