MarineLink News Search
Search term • When-Up-Is-Down
Create an email alert for When-Up-Is-Down
Equinor Upbeat About Investor Interest in US Offshore Wind Farm
Norway's Equinor is confident of finding an investor for its planned Empire Wind 1 offshore wind farm in New York after a new power off-take agreement improved the project's economics, the company said on Thursday.New York State authorities in February awarded the project a new conditional power purchase contract, replacing a previous deal that was no longer competitive due to rising construction costs, higher interest rates and supply chain snags.Equinor was glad to have received the new contra
US Military Starts Pier Construction off Gaza
U.S. troops have begun construction of a maritime pier off the coast of Gaza that aims to speed the flow of humanitarian aid into the enclave when it becomes operational in May, the Pentagon said on Thursday.President Joe Biden announced the pier in March as aid officials implored Israel to ease access for relief supplies into Gaza over land routes. Whether the pier will ultimately succeed in boosting humanitarian aid is unclear…
Britain Says Its Navy Shot Down Houthi Missile Targeting Merchant Ship
The U.K. on Thursday said its Royal Navy had shot down a missile fired by the Iran-backed Houthis from Yemen targeting a merchant vessel in the Gulf of Aden."The UK continues to be at the forefront of the international response to the Iranian-backed Houthis’ dangerous attacks on commercial vessels, which have claimed the lives of international mariners," British Defense Secretary Grant Shapps said…
Bourbon Orders Exail Tech to Streamline Subsea Fleet’s Services for Offshore Energy
UK-based Exail has secured a contract with French maritime services provider Bourbon to supply several units of its Octans Attitude and Heading Reference Systems (AHRS) for integration into Bourbon Subsea Services’s fleet.These units will be installed on multiple Bourbon Evolution 800 Series multi-purpose support vessels (MPSVs) dedicated to subsea operations at depths down to 3,000 meters.IMO-HSC certified…
Old Checklist Led to Helicopter Incident
The tail rotor of an Agusta A109 struck a handrail while landing on a bulk carrier as the pilot did not detect the obstacle, and the ship’s crew were using an older version of the vessel’s helicopter operations checklist, reports the Australian Transport Safety Bureau (ATSB).An ATSB investigation report details that the A109E helicopter was conducting marine pilot transfer operations to the bulk carrier Tai Keystone…
Iron Ore Shipments Up 3.8% Despite Weak Chinese Demand
In the first quarter of 2024, global iron ore shipments rose 3.8% y/y on expectation of strong Chinese steel production which, however, failed to materialise. Iron ore supply has grown faster than Chinese demand which could lead to weaker shipments ahead, says Filipe Gouveia, Shipping Analyst at BIMCO.During the start of the year, Brazilian iron ore shipments typically slow down due to mining disruptions caused by heavy rainfall.
Subsea Vessel Market is Full Steam Ahead
Since our last market update in the subsea space about a year ago both our current market view and forecasts have strengthened significantly.While the demand picture is looking solid and arguing for a strong multi-year upcycle, the supply side has also started to wake from its slumber albeit ever so slightly at the time of writing. Moreover, we register an interesting dynamic on the shipowner side…
Muddy Water Dredging Christens Marlin Class Dredge
On April 19th, 2024, Muddy Water Dredging, LP, held the christening ceremony of its Marlin Class dredge at the Port of New Orleans. The event was attended by many esteemed business leaders, media personnel, and distinguished dignitaries. "We are happy to unveil the Vaneta Marie dredge. After many hours of collaboration between Muddy Water and DSC what we have before us is a dredge that was crafted with precision and ingenuity," said Michael Kerns, President, and CEO of Muddy Water.
One-on-One: Rob Langford, VP, Global Offshore Wind, ABS
As the U.S. offshore wind industry endures a predictable number of stops and starts during its adolescence, common mantras are ‘learn from the established European model’ and ‘embrace technology transfer from the offshore oil and gas sector.’ In Robert Langford, the American Bureau of Shipping has all of that and more bundled in one neat package.Rob Langford has worked in the offshore industry for more than three decades…
China's Imports of Russian Oil Near Record High
Russia remained China's top oil supplier in March, data showed on Saturday, as refiners snapped up stranded Sokol shipments.China's imports from Russia, including supplies via pipelines and sea-borne shipments, jumped 12.5% on the year to 10.81 million metric tons, or 2.55 million barrels per day (bpd) last month, according to data from the General Administration of Customs.That was quite close to…
When Efficiency Does Not Help Sustainability
My brother and I had a discussion about methanol where we concluded that methanol is a promising sustainable liquid fuel for transportation devices when batteries cannot do the job. While Methanol is initially not carbon zero, as long as we focus on developing zero carbon electrical energy, eventually we can produce zero carbon green methanol. Once there is plentiful green methanol, existing methanol…
Venezuela Oil Sector Hit by Loss of Its Widest US License
Venezuela's loss of a key U.S. license that allowed it to freely export and increase investment in its oil sector will hit the volume and quality of its crude and fuel sales while prompting a flurry of requests for individual U.S deal authorizations.U.S. officials had warned that absent progress by President Nicolas Maduro on implementing an electoral roadmap agreed last year, the U.S. would not renew license 44…
US to Reimpose Oil Sanctions on Venezuela
The Biden administration said it would not renew a license set to expire early on Thursday that had broadly eased Venezuela oil sanctions, moving to reimpose punitive measures in response to President Nicolas Maduro’s failure to meet his election commitments.Just hours before the deadline, the U.S. Treasury Department announced on its website that it had issued a replacement license giving companies…
Mounting Tensions Could Spark EU-China Trade War, European Chamber President Warns
China and Europe face a "slow motion train accident" as a rising tide of protectionism threatens to become a full trade war, the head of a European business lobby group warned on Wednesday, a day after Germany's chancellor conveyed European concerns to Beijing.Jens Eskelund, president of the European Chamber in China, said that while some worries about trade in both countries were legitimate, there…
Maritime Risk Symposium 2024 – Great Power Competition and Gray Zone Engagement
For 15 years the Maritime Risk Symposium (MRS), an annual three-day event, has brought together government and maritime industry leaders, port representatives, international and domestic researchers and solution providers to examine current and emerging threats to maritime security. World events highlight that maritime security is increasingly at risk during the current period of great-power competition and ongoing conflicts.
EST-Floattech Delivers Battery Systems for Electric Workboat
EST-Floattech will be providing the battery system for the purpose-built electric-landing utility vessel (E-LUV) to be built at Coastal Workboats’ new yard Stornoway. The company will also provide the shore-based power supply system.The collaboration with Coastal Workboats Scotland is realized due to Coastal Workboats receiving a £6 million (€7 million) grant to demonstrate the UK's first commercial…
Due Diligence Needed for Maritime Tech Adoption to Minimize Risk with Digital Transformation, Says OrbitMI
Rapid technological change, complex regulation and competitive pressures are driving digital transformation in the shipping industry. But navigating a confusing software landscape can be difficult, and sound decision-making is essential to minimize innovation risk, according to OrbitMI.Industry spending has soared in recent years on intelligent process automation solutions geared to boosting efficiency…
Austal USA Begins Building US Navy's LCU 1710 Landing Craft
Austal USA earlier this month celebrated the start of construction on the first of three LCU 1710 Landing Craft Utility vessels for the U.S. Navy at the company’s Mobile, Ala. shipyard.Austal USA, a subsidiary if the Australian shipbuilding group Austal, was awarded a US$91.5 million (A$143.4 million) contract in September 2023 that includes three LCU 1710 vessels and associated support efforts.Austal…
Ukrainian Seafarers Experiencing Increased Levels of Depression and Anxiety
Ukrainian seafarers are experiencing increased levels of loneliness and depression amid fears of conscription if they return home as the war enters its third year, seafarer charity Stella Maris warns.Stella Maris regional port chaplains for Southampton and Southern ports, Charles Stuart and Gregory Hogan, who make multiple daily ship visits report Ukrainian seafarers are under increasing strain.“The initial stresses have been replaced by something else,” Hogan says.
Singapore Marine Biofuel Premiums Drop Further on Soft Demand
Spot marine biofuel premiums have weakened further at the world's largest bunker hub Singapore, weighed by slow demand, market sources said this week.Premiums for the flagship B24 marine biofuel blend recently traded between $120 to $130 a metric ton over 0.5% low sulphur fuel oil quotes, on a delivered Singapore basis, according to sources from bunker suppliers, trading firms and shipowners.The premiums extended declines from early first quarter when the product traded down to about $140 a ton…