Saturday, June 08, 2024

Juneau and Cruise Lines Agree to Cap on Daily Passengers Starting in 2026

Juneau cruise ships — Four large cruise ships with approximately 12,000 berths docked in Juneau, Alaska (CLIA Alaska)

Tourism officials in Juneau, Alaska reached a voluntary agreement with the major cruise lines to enact further restrictions on the number of cruise passengers visiting the state capital. It follows a move this year limiting the number of ships that became the first in Alaska and followed a wider trend designed to manage the influx of cruise ships which many residents complain are overwhelming their city.

Around the world, major tourist destinations are grappling with a phenomenon known as overtourism. Juneau while the capital of the state only has a population of 32,255 residents according to the 2020 U.S. Census. Residency rises in the summer months to support the influx of cruise passengers which according to officials can be as high as 21,000 tourists in a single day.

Last year, Alaska had more than 1.6 million cruise passengers in a season that the lines continue to extend. It now runs for about 22 weeks as the lines started the first calls at the beginning of April and now continue till late October. Official reports said that cruise passengers increased 40 percent post-pandemic and are up as much as 23 percent over the record year in 2019. Tourism executives estimate that there will be 1.7 million passengers in 2023 but critics believe that is a purposefully low estimate.

Under the terms of the agreement announced this week, the major cruise lines are agreeing to coordinate their schedules to cap lower berths at 16,000 per day Sunday through Friday and 12,000 lower berths on Saturdays. The limit does not begin till 2026 because the tourism industry said the lines would need time to adjust schedules and that it would permit other southeastern Alaska towns to prepare for potential impacts.

Critics also point out that it is an artificial number as many of the ships sell third and fourth upper berths in a stateroom that are not included in the daily cap. The cruise industry proudly promotes that its ships operate several points above 100 percent when busy, often with children making up a portion of the third and fourth berths sold. It was also noted that the cap does not count crew even though a large cruise ship can have 1,500 crewmembers in addition to its passengers.

Juneau Visitor Bureau Director Alexandra Piece called the agreement a good compromise to maintain business while reducing the daily impact on residents. The cruise lines said it was part of their commitment to work with the destinations.

The new limit follows a restriction begun for 2024 that caps the number of cruise ships to five per day regardless of size. Despite this, 2024 is expected to be the busiest year ever with Juneau scheduled to receive 660 cruise calls between April and October. This would mean an average of 2,500 passengers per ship to reach the estimate while many of the biggest ships carry 4,000 or more passengers per cruise in season.

Critics were quick to say it does not go far enough and are proposing a referendum in the next election. City officials have previously said that the Alaska constitution does not permit such an effort but critics are already organizing petition drives.

One proposal calls for no cruise ships above 250 passengers on Saturdays to give residents a respite from the onslaught of tourists. They contend the city could do more to reduce the impact. They note that three of the four docks used by the cruise ships are city-owned.

The proponents of the ban highlight that the Mendenhall Glacier Recreation Area, which is the most-visited tourist attraction in Alaska, is within the city limits. Passengers flock to a well-known downtown bar and restaurant as well as the gift shops but they also support over 70 whale-watching boats operating from the downtown docks. There are also countless buses crowding the city streets for tours, a non-stop flow of helicopters taking off and landing operating flightseeing to the glaciers, and floatplanes. Residents complain of the endless noise in addition to the congestion.

Juneau is not alone in the struggle to manage the interests of residents against business owners that depend on the passengers and tourists during a relatively short season. Bar Harbor, Marine has been locked in a similar battle, and despite legal challenges, its limit on the number of cruise passengers appears to be standing with cruise lines already substituting other ports in Maine. The residents of Key West voted for limits which were largely overridden by Governor Ron DeSantis. Internationally, cities including Amsterdam, Barcelona, and Venice have all taken steps to remove cruise ships from the city center or reduce the number of visitors. The mayor of Palma, the capital city of Mallorca in Spain's Balearic Islands, recently also proposed limits on cruise ships.

Cruise lines respond that they can stagger the timing of their ships and coordinate schedules to limit the number of mega-ships in a port on a single day. However, as the number of cruise ships operating grows and they continue to increase in size, ports can expect to continue to see increases in the number of daily visitors.

Ukraine Nearly Doubles Cargo Volumes Reaching Toward Prewar Levels

The Ukrainian Sea Ports Authority is highlighting that in the nine months since the sea corridor was opened, they have largely restored prewar volumes and continue to work to expand the range of cargoes handled. This has come despite the repeated attacks by Russian forces on the seaports and the country’s infrastructure.

May volumes surpassed 8 million tonnes versus 7.7 million that transited the corridor in April. Year-to-date they are saying between 45 and 50 million tonnes of cargo have been moved, which is nearly twice the 2023 levels when primarily grains were moving. In the first four months of the corridor, they moved just over 4 million tonnes.

“Given the favorable security situation, we aim to reach the average pre-war level of cargo turnover,” the port authority said in a statement reviewing monthly volumes and the overall progress. They noted this was a significant advancement and steady progress is being made since the Joseph Schulte became the first vessel to depart on August 16, 2023. As of May 2024, they are reporting over 1,700 vessels have been handled and the traffic volume continues to build.

Ukraine remains the top exporter of agricultural products according to the port authority. In April, they said grains made up 6.3 million tons of the cargo versus a total of 9.9 million tonnes of cargo through all the seaports, including inland ports.

Starting in April, the Turkish company Akkon launched the feeder service for containers between Chornomorsk and Constanta, Romania. The success of that operation led to the restoration of services by both Hapag-Lloyd and now Maersk, which is also discontinuing its barge service via the Danube. MSC Mediterranean Shipping is now expected to also resume service in mid-June. They are planning to sail directly from the Odesa area to Turkey, marking a further expansion of service from Ukraine.

So far, they are reporting that 10 containerships have been handled. The Turkish companies are using general cargo ships outfitted for the boxes while the first dedicated containerships later returned to the Black Sea ports. The service for Maersk is being operated with vessels of a capacity of 1,100 TEU.

Port officials said they remain focused on resuming the container operations. They are hoping to restore more direct container service beyond the feeders operating to Romania. They are also now looking to restart ferry operations.

RIP

Barbara Spector Yeninas, Maritime Media Trailblazer, Passes at 84

She met her husband as co-captains on the picket line during a newspaper strike

Barbara Spector Yeninas, of Holmdel, NJ, died on May 31 at the age of 84. She was the founder of the premier marketing communications agency BSY Associates, which specialized in maritime, supply chain and logistics and this year celebrated 50 years of business. She will long be remembered as a trailblazer who paved the way for women in the male-dominated maritime industry.

Barbara Spector Yeninas was born on March 21, 1940, in the Bronx, NY, to parents Rose Olenberg Spector and Robert Spector. She moved with her family to Lakewood, NJ, where, as a gifted student, she skipped two grades and graduated high school at the age of 16. She discovered her love of journalism while attending New York University—her college editorial column “Barb Wire” was known around campus for its sharp wit and peek into local life. Her first professional position was with the Asbury Park Press, but she very quickly—and very famously—moved over to its competitor, the Newark Evening News, as a general assignment reporter.

While covering the port-driven city, Barbara became immersed in the maritime sector at a time when maritime reporting was almost non-existent. She immediately recognized the magnitude of containerization and a new transportation concept called “globalization,” and was encouraged by her colleagues to develop a maritime beat for the paper. She became the Newark News’ first maritime editor—a move which launched her career, pushed the Port of Newark into the global spotlight, and ignited her lifetime love affair with the industry.

It was also at the Newark News where she would meet her future husband, Joseph Yeninas, an editorial cartoonist and art director at the paper. The two met as co-captains on the picket line during a newspaper strike shortly before the paper folded. They fell in love, and were married in December 1971.

In 1974, Barbara created Barbara Spector Yeninas Associates (BSYA) as the premier voice in maritime and transportation public relations and marketing. Barbara’s integrity, tenacity, and drive were the key to her success at a moment when women were rarely seen on the docks. It wasn’t long before she established an illustrious, international list of clients, which included Pacific Australia Container Express Line (PACE), Taiwan-based Evergreen Marine Corp., Port of Hamburg, Horizon Lines, Global Terminals, INTTRA and Maher Terminals.

Over the course of her career, she became an industry figurehead, and loved bringing people from all corners of the transportation industry together. She served as Executive Director for the Containerization & Intermodal Institute for 35 years, and as the Executive Director of NY/NJ Foreign Freight Forwarders and Brokers Association for 18 years. And for almost five decades, she served as event coordinator for the United Seamen Service’s Admiral of the Ocean Sea Awards, an annual black-tie gala which celebrated the leaders of maritime.

But even as her business was advancing, Barbara made time for her personal passions. She traveled all over the world (from Panama to Prague, Hawaii to Hong Kong, and beyond), loved to cook for her family and friends, and was an avid collector of antique posters and art.

Over the course of her lifetime, Barbara and her company won many creative advertising and marketing communications awards. In 2000, she was named New Jersey Businesswoman of the Year by the Girl Scouts of America, and in 2007, was given the honor of being one of the top 50 Businesswomen in New Jersey by NJ Biz Magazine. Then in December 2008, the Containerization & Intermodal Institute awarded her with its Lifetime Achievement Award for her many years of work in the industry.

But what Barbara will be remembered for most of all was her deep commitment to helping, caring for, and lifting those around her. She was always thinking of others—and as good friend and colleague Joe Bonney said, “she just made everyone better.”

She was preceded in death by her husband, Joseph, and her siblings Stanley and Cheryl Spector. She was a proud mother of daughters Joanna Saltz, of Bernardsville, NJ, and Laura Newby, of Granite Bay, CA, and a loving mother-in-law to Scott Saltz and Andy Newby. But her greatest joy was being a doting grandmother to her seven grandchildren, Spencer, Teddy and Everett Saltz, and Zadie, Jones, Isabel and Sam Newby. She is survived by her siblings Martin Spector, Alan Spector and his wife Sarah, and Susie Hauptman and her husband Cliff.

The opinions expressed herein are the author's and not necessarily those of The Maritime Executive.

WWIII

Chinese Blocking Philippine Medical Evacuation was “Barbaric” Says PCG

Chinese Coast Guard — Chinese repeated attempted to block the Philippines Coast Guard's small boat (Cmdr. Tarriela)

In the ongoing confrontations between the Chinese and the Philippines Coast Guard in the South China Sea, the Philippines escalated the war of words. In a release with videos, the spokesperson for the Philippine Coast Guard, Commodore Jay Tarriela, is accusing China of “barbaric and inhume behavior” in attempting to block a medical evacuation.

The events that came to light today reportedly took place on May 19. Separately, the Philippine military chief Romeo Brawney said it took place over two days. He accused China of blocking the first attempt at a medical evacuation but said they were able to complete the mission the following day.

The Chinese foreign ministry responded to the accusations saying that it requires advance notification but it would permit the evacuation and supply of personnel. They, however, said they would not let the Philippines use this as an “excuse to transport” construction materials to the disputed Second Thomas Shoal area and the grounded vessel BRP Sierra Madre, which the Philippines uses as a base.

Supported by the videos, Tarriela says they were dispatching a high-speed response boat to an agreed location to meet up with a rigid hull inflatable that was carrying the sick marine from the base. He is asserting that the Chinese were informed by radio and public address systems about the nature of the evacuation.

“What should have been a simple medical evacuation operation was subjected to harassment, with the excessive deployment of two China Coast Guard vessels, two small boats, and two rubber boats,” stated Tarriela.

He is accusing the Chinese of intentionally ramming the rigid hull inflatable and dangerous maneuvers. The Chinese he said were repeatedly blocking the two boats and harassing the Filipinos.

Ultimately, he says their forces were able to outmaneuver the Chinese crafts and complete the mission.

Today’s statement came after the Philippines and China traded accusations during the week. China asserted that the Philippine forces pointed firearms at Chinese personnel during a close-in encounter in the disputed area after cutting nets and seizing fishing material from the Chinese at the lagoon. The Philippines responded by accusing Chinese forces of seizing essential supplies that were air-dropped to the garrison on the BRP Sierra Madre.

Philippine Marines Drew Firearms When China Coast Guard Neared Outpost

Philippine personnel aboard BRP Sierra Madre (Chinese state media)

Officials with the Armed Forces of the Philippines have confirmed that a squad of Philippine Marines drew weapons when China Coast Guard personnel moved in to seize an airdropped shipment of food at Second Thomas Shoal last month.

The Philippines has accused the China Coast Guard of seizing essential supplies that were air-dropped to the garrison on the BRP Sierra Madre in mid-May. China routinely blockades the outpost using its coast guard and maritime militia vessels, and this often forces the Armed Forces of the Philippines to deliver goods to the military detachment at Second Thomas Shoal by parachute.

Philippine military officials said that China Coast Guard personnel in rigid inflatable boats intercepted one out of the four parcels that were parachute-dropped during an airborne supply run in mid-May. During that altercation, the China Coast Guard boats moved to within five meters of the BRP Sierra Madre, the grounded landing ship that serves as the Philippine base on the reef. As a precautionary measure, the marines followed their rules of engagement and deployed small arms.

"Whenever you see imminent threats coming your way, you best be prepared," said AFP Chief of Staff Romeo Brawner. "It's part of the rules of engagement."

Chinese state news network CGTN claimed earlier this week that Philippine personnel had pointed their guns at the China Coast Guard during the altercation. The footage showed armed personnel aboard the BRP Sierra Madre, but the imagery did not apear to show whether weapons had ever been trained on a target.

Following this run-in, according to the AFP, the Chinese boat team opened the airdrop parcel and dumped the food supplies over the side. Philippine forces were able to recover some of the goods from the water.

"Our personnel are governed by the Rules of Engagement (ROE) and clearly acted with the highest level of professionalism," said the AFP in a statement. "Foreign vessels that venture dangerously close to our military vessel and in violation of safe distance protocols necessitate heightened vigilance."

Bankruptcy Court Approves Plan for Sale of Hornblower

Hornblower tour boat — Hornblower will focus on its excursion cruises and ferries as well as land tours ending its cruise line (Hornblower)

The bankruptcy plan for Hornblower Group has been approved by the U.S. Bankruptcy Court for the Southern District of Texas setting the stage for the company to emerge from the reorganizational bankruptcy filed in February. Under the plan, the company will be recapitalized with new ownership and will focus its operations on its tour boat and ferry operations after shedding its overnight cruise businesses.

“With the court’s approval of the plan, we are closer to emerging as a stronger company, with a more focused portfolio and additional financial flexibility to fuel our growth,” said Kevin Rabbitt, Hornblower's Chief Executive Officer. “We look forward to completing this process and continuing to build on our position as a global leader in world-class experiences and transportation.”
The company which reported in February that it had between $1 billion and $10 billion in debt, said it will have reduced its debt by approximately $720 million during the reorganization. It will also substantially increase liquidity.

Majority ownership of Hornblower is passing to funds managed a Strategic Value Partners, a private investment firm with more than $18 billion under management. Crestview Partners, a private equity firm that acquired Hornblower in 2018, will retain a minority position and take sole ownership of the tour company Journey Beyond based in Australia.

Hornblower, which was started in 1980, had acquired city tour companies and expanded its excursion business. The excursion business includes Boston Harbor Cruises which dates to 1926, as well as Potomac Riverboat Cruises in Alexandria, Virginia, Spirit Cruises in Norfolk, Virginia, Niagara Cruises, Alcatraz Cruises, and many others in the U.S. and Canada, as well as international operations including in London, England. The company also has ferry operations and a maintenance yard in Bridgeport, Connecticut.

In filing for bankruptcy, the company cited the “underperformance of American Queen Voyages, which has not rebounded from the pandemic.” American Queen was operating river cruises on the Mississippi and in the Pacific Northwest as well as two coastal cruise ships. As part of the bankruptcy, they announced an intention to sell or wind down American Queen.

The company’s four river cruise boats were sold in a private transaction to American Cruise Lines. Subsequently, American Cruise Lines sold two of the paddlewheeler riverboats, American Duchess and American Countess, which had been converted into cruise ships from gambling barges, for scrap. The American Queen, which was the largest river paddlewheeler ever built with accommodations for 436 passengers, is reported to need costly technical work. American Cruise Line said it would explore donating the vessel although recent reports infer it has also been moved to a recycling yard. Future opportunities for the American Express were reportedly still being explored.

American Queen’s coastal vessels had ended service in October 2023. They were sold as part of the bankruptcy to their former owner, John Waggoner, who says he plans to restart their service in 2025. The cruise line also had an exploration ship on summer charters for Alaska cruises. That ship, Ocean Victory, reverted to Sunstone Ships and is set to start a new Spanish cruise line Alma Cruceros in 2025.

Flooding Disrupts Traffic on the Upper Rhine

German soldiers lay a sandbag wall to hold back floodwaters, June 2024 (Bundeswehr)

Extreme high water levels have shut down navigation on the Rhine in Bavaria and Baden-Wurttemburg, affecting traffic on the Upper Rhine as far as Switzerland.

Torrential rain has caused widespread flooding in the Rhine valley, and the Upper Rhine is currently closed to marine traffic near Maxau and Mannheim. The water levels are so high that there is not enough clearance under some of the river's bridge crossings to permit barges to pass. This has delayed inland traffic movements between the Lower Rhine and the upper reaches of the river. The shutdown at Maxau, a town near Karlsruhe on the river's eastern bank, is expected to last until Friday.

The flooding has claimed the lives of six people in Bavaria and Baden-Wurttemberg, including one first responder. Thousands more have been forced to evacuate, and 800 military personnel have deployed to assist local agencies with search and rescue, relief efforts and flood control. Waters have also risen rapidly on the Danube in Lower Bavaria, Austria and Hungary, reaching 30 feet in the city of Passau.

Flood extent on the Rhine, June 3 (GFZ Potsdam)

In comments Monday, German Chancellor Olaf Scholz drew a direct connection between a series of recent floods in Germany and climate change. Though a formal examination of causal factors has not been completed yet for this month's flooding, scientists previously concluded that the last serious flood in Germany - the record-setting Ahr Valley rainfall event in 2021, which killed 189 people - was up to nine times more likely to occur because of warming.

Navigation on the Rhine has been restricted by water levels multiple times since 2018, but primarily by drought. Extreme low water events in 2022 prompted a near-shutdown of traffic at the shallowest point in the Middle Rhine, the town of Kaub. Nearly every summer, recurring draft restrictions have reduced the capacity of barge traffic through the area for weeks at a stretch.

The Rhine River is central to Germany’s inland shipping sector. Major German corporations depend on the Rhine River to transport products such as grain, coal, minerals and oil products. Any disruptions to navigation in the river is a source of concern for many businesses, and for river transport operators. The recurrent droughts have even prompted some regional carriers to design a new hull form for their newbuilds, adapted to lower summertime water levels.

Mass AIS Spoofing Event "Moves" Dozens of Ships to Crimean Airport

The mass spoofing event at the airport in Simferopol, 0300 UTC, June 4, 2024 — The mass AIS spoofing event at the airport in Simferopol, 0300 UTC, June 4, 2024 (MarineTraffic)

In early June 2024, dozens of merchant ships began transmitting AIS positions that put them at airports in the occupied Crimean peninsula and the Russian Federation. As of June 4, 2024, nearly 50 vessels broadcast their location as the International Airport of Simferopol, Crimea, and approximately 30 vessels at Gelendzhik Airport near Novorossiysk. Though AIS spoofing is known to occur in the Black Sea region, an event of this magnitude is uncommon.

Spoofing at Simferopol International Airport. Sources: Marine Traffic, annotated by the authors

The number of these ships varies over time. In the previous few days, fewer ships were spoofed at these locations, while their number increased from June 3. The massive spoofing event appears to target all kinds of vessels, from bulk carriers to tankers and tugboats, which keep appearing and disappearing at improbable speeds in excess of 40 knots (and sometimes greater than 100 knots). For example, AIS data on June 4 showed the crude oil tanker Coatlique (IMO: 9235000) sailing at 102.2 knots while at anchor.

Many of the vessels appearing in Crimea are Russian-flagged and their real position is unknown for now, although is reasonable to assume their presence nearby in the area around the Kerch Strait, a position where Coatlique is known for loitering with frequent AIS blackouts and for engaging in STS transfers. Some of these vessels had experienced spoofing events in the past as well. By the morning of June 5, the spoofing event was over and the vessels no longer appeared at the airport.

At Gelendzhik Airport the situation is the same, with some vessels sailing at 50 knots on the airport’s runway. For example, crude oil tanker Athina M (IMO: 9644237) broadcast its position in the airport with a velocity of 0.0 kn, while her real position remains unknown (though certainly in the Black Sea).

Spoofing at Gelendzhik Airport (Russian Federation). Sources: Marine Traffic, annotated by the authors.

It’s very likely that this event is correlated to the electronic warfare and jamming activities of the Russo-Ukrainian war taking place a few miles from these two locations. However, AIS disturbance involving such a large number of vessels, and in two locations at the same time, is something that hasn’t happened in a while. This is reminiscent of a mass spoofing event that involved Atria (IMO 9595137, now Stromboli M) and nearly two dozen other vessels in June 2017.

Alessio Armenzoni is an Associate Fellow at the London-based Open Source Centre. He studied at the Centre for Higher Defense Studies from the Italian MoD.

Giangiuseppe Pili, Ph. D. is an Assistant Professor in the Intelligence Analysis Program at James Madison University. He is an Associate Fellow at Open Source Intelligence and Analysis at the Royal United Services Institute.

Gary C. Kessler, Ph.D, CISSP is president of Gary Kessler Associates, providing maritime cybersecurity training and consulting services, and co-author of "Maritime Cybersecurity," 2/e. He is on the advisory board of Cydome and a principal consultant at Fathom5.

The opinions expressed herein are the author's and not necessarily those of The Maritime Executive.

Report: North Korean Vessel Sank, Killing 90

North Korean vessel (JonPRC / CC BY 2.0)

South Korean intelligence agencies believe that a North Korean transport sank last month, killing 90 out of 130 personnel on board.

News outlet TV Chosun reports that a "very large ship" ferrying troops went down on a river. The personnel were bound for work on a fortification project along the border with Gangwon Province, on the eastern side of the country. The vessel was overloaded, intelligence sources told Chosun; its name was not identified.

The outlet reported that the incident prompted unease within the North Korean military establishment, and that Pyongyang's unusual actions along the border zone - like a recent decision to fly 1,000 bags of trash across the demilitarized zone aboard unmanned balloons - could be related to an attempt to redirect attention on an external enemy.

"Even if you try to hide it, it is bound to become known. In that case, one of the things North Korea always does is create external tension to unite internally," said Park Won-gon, a professor of North Korean studies at Ewha University, speaking to TV Chosun.

No reports of the incident have been published by North Korea, and the account could not be confirmed. TV Chosun has previously reported on intelligence information that the South Korean government later acknowledged in public.

North Korea's fleet is aging, and Western sanctions have made it harder to get parts and repairs for the regime's vessels. The United States government prohibits trade and other transactions with North Korea, and the UN Security Council has imposed strict limits on North Korean commerce (often ignored by China and Russia). In 2021, the North Korean cargo ship Cheongbong went down off Shimane, Japan with a cargo of iron; all personnel were rescued by a passing North Korean tanker.

Top image: North Korean vessel (JonPRC / CC BY 2.0)

Bulker Fends Off Pirates While Houthis Launch New Salvo in Red Sea

Red Sea escort — US and EU forces reported stopping an increase in launches by the Houthi over the Red Sea (Aspides file photo)

The situation in the Red Sea region remains very volatile with several new reports. The EU monitoring group is warning of at least three pirate groups being active with two attempted assaults in the past week, while the Houthis conducted an increased level of activity however with no successful attacks.

The latest attempted boarding took place today on a merchant vessel sailing near Somalia. It happened as EU NAVFOR Atalanta increased its estimations in an update issued yesterday saying that it now believes at least three or more Pirate Action Groups (PAGs) could be sailing off the Somali coast, at the area around Socotra and off the coast of Garacad.

A merchant ship sailing 355 nautical miles east of Mogadiscio, Somalia is the latest to report an approach. A skiff was reportedly launched from a mother ship approximately five nautical miles from the vessel and came within 400 meters. EOS Risk Group is reporting that security guards on the vessel fired nine warning shots at the approaching skiff which UKMTO reports contained six armed individuals. The skiff broke off the approach at that point and the vessel was able to proceed without a further incident.

Neptune P2P Group is reporting the vessel involved in today’s incident is the Marshall Island-flagged bulk carrier Pacific Honor (58,900 dwt). It is a Japanese-managed bulker. Neptune notes that the location of this incident is “close to where the cargo ship MV Basilisk was boarded by suspected pirates on May 23,” speculating it could be the same group.

A week ago, a Cook Island-flagged crude oil tanker, Arabesca (105,000 dwt) also reported being approached but it was to the north of the Horn of Africa heading into the Red Sea bound for the Suez Canal. In that situation, the master of the tanker reported spotting two dhows each towing three skiffs that were approaching but they were able to elude them without incident.

Atalanta warns that six to seven dhows that have been taken remain unaccounted for and possibly still in the hands of their captors. In the past 30 days, they received reports of five approaches and three vessels being attacked.

Several hours earlier, the UK Maritime Trade Organizations also received a report of two explosions near a vessel 27 nautical miles south of Al Mukha, Yemen near the Bab el-Mandeb. The unnamed ship reported no damage and said it was proceeding.

The Houthis spokesperson late on Friday cited two further attacks without specifics. Yahya Saree said they continued to target ships of companies calling in Israel citing a Malta-registered Greek containership Elbella (23,400 dwt). He also cited the AAL Genoa (25,733 dwt). The cargo ship is registered in Cyprus and managed by Columbia Shipmanagement.

U.S. Central Command is also reporting a very active 24-hour period. CENTCOM said forces destroyed eight Houthi uncrewed aerial systems and two Houthi uncrewed surface vessels in the Red Sea. The Houthis also launched one anti-ship ballistic missile over the Red Sea.

The Italian frigate Virginio Fasan, on assignment to the EU NAVFOR Aspides, also engaged with the Houthis while protecting a merchant vessel in the Red Sea. The frigate repelled a UAV attack.

Study: Tanker Sector's Profits Could Fall by a Third Due to Climate Action

In a new report, researchers at University College London and the Kuhne Foundation predict that the tanker and gas carrier segments will see their profits drop by as much as $200 billion over the next 25 years if the global economy achieves the Paris climate targets - even if all newbuild orders end. This amounts to a third of the profits that tanker companies could earn over the same period under a business-as-usual climate action scenario.

The research team set out to look at the ownership structure, asset value and transport capacity of the global tanker fleet, and how well utilized it would be under future climate scenarios. In particular, they sought to determine how much overcapacity there might be if the global economy reduces fossil fuel consumption, and the resulting impact on tanker owners' profits and asset values.

The team found that LNG, LPG and crude tankers may be oversupplied in decades ahead if the global economy cuts fuel consumption enough to meet the Paris Agreement's 1.5 degree Celcius warming trajectory. The cumulative lost profits (compared to a scenario in which the global economy does not decarbonize) could amount to up to $214 billion by 2050, even if there are no more newbuild orders. If more tankers and gas carriers continue to be ordered and built, lost profits could rise to as much as $286 billion by 2050.

"The results are quite chilling for oil and gas tankers," explains Marie Fricaudet, who led the research at UCL. "In a scenario where newbuilding of ships continues until 2030, about 37 percent of their expected profits would fail to materialize."

If demand and day rates drop, the book loss from falling vessel asset values could amount to as much as $108 billion by 2030, or as much as $147 billion if the orderbook continues to grow.

Simultaneously, this decline in tanker activity would cut the cumulative CO2 emissions of the maritime industry by 1.3-2.0 billion tonnes by 2050. This would help keep shipping within the 12 billion tonne carbon budget the industry would need to meet if it wants to achieve a 1.5 degree Celcius trajectory.

Other demand-side factors in the changing energy market - like regionalized production and reduced shipping distances - could further reduce tanker activity. On the other hand, there is also the possibility that more these vessels will keep sailing if they find a way to switch cargoes. Coal-carrying bulkers could readily switch to other dry bulk commodities, the authors noted. Tankers may also be convertible to new liquid fuels, subject to technical limitations, and these adaptations to a new green-fuel landscape might offset the lost profits of a decline in the traditional wet bulk trades.

"Our forecast, even if only indicative, should prompt investors and shipping actors to evaluate their climate risks and redirect investments. The transport sector must play a role in transitioning to a low-carbon society, with capital shifting to sectors aiding this transformation," said Stefanie Sohm of the Kuhn Climate Center.

LA REVUE GAUCHE - Left Comment