Capital Investments News

Enterprise Products Partners on Tuesday said it expects to have two contracts for its proposed deepwater oil export terminal by May 31 and reach a final investment decision before year-end.Enterprise's ambitious Sea Port Oil Terminal (SPOT), proposed off for a site off the coast of Texas, would be able to load two supertankers at a single time. It received a key government license this month, but is yet to sign any commercial customers.The cost of the project has soared to about $3 billion…

With a fleet of nine U.S.-flag RoRo ships, American Roll-On Roll-Off Carrier Group (ARC), is the U.S.’ premier commercial RoRo carrier of U.S. government and military cargo. As the world becomes an increasingly contentious place, Eric P. Ebeling, President & CEO, ARC, discusses the vast capabilities of the ARC fleet and logistics network, as well as the challenges and opportunities ahead for U.S.-flag ships in the international trade.By the numbers’ is a simplistic means to gauge the size and shape of any shipping company…

The Panama Canal announced that Deputy Administrator Ilya Espino de Marotta will now also serve as the Canal’s first Chief Sustainability Officer (CSO).As CSO, Espino de Marotta will spearhead the development of a comprehensive sustainability strategy focused on decarbonization, adaptation, and transition. Working with the International Finance Corporation (IFC), part of the World Bank Group, the Canal is already in the process of finalizing an inventory of its greenhouse gas (GHG) emissions and aims to complete a climate risk assessment by the end of the year.

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has approved the Development Plan Amendment (DPA) for the Hebron Field.The Hebron oil field is located offshore Newfoundland and Labrador, Canada, in the Jeanne d'Arc Basin 340 kilometers southeast of St. John's. The field was first discovered in 1980, and is estimated to produce more than 700 million barrels of recoverable resources. The water depth at the Hebron field is 93 meters.The approval enables ExxonMobil and…

Mobile, Ala. shipbuilder Austal USA announced it has been awarded a contract potentially worth more than $3 billion for the detail design and construction of new TAGOS-25 class ocean surveillance ships for the U.S. Navy.The $113.9 million fixed-price incentive (firm target) and firm-fixed-price contract includes options for detail design and construction of up to seven T-AGOS 25 class ships which, if exercised, would bring the cumulative value of the contract to $3.195 billion.Austal…

Global all-domain defense partner HII recently broke ground on a new project that will support nuclear submarine construction at its Newport News Shipbuilding division.The Multi-Class Submarine Production Facility is one of three new facilities, enabling NNS to further support the construction and delivery of Columbia- and Virginia-class submarines.“The Navy has made it clear how important both the Columbia- and Virginia-class submarine programs are to our nation’s defense,” said Brandi Smith, NNS vice president of Columbia-class submarine construction.

The global marine vessel market is projected to grow from $170.75 billion in 2021 to $188.57 billion in 2028 at a CAGR of 1.43%, according to research from Fortune Business Insights.From transportation vessels to workboats to marine construction ships, companies want to grow their business, stay current with new technologies, gain a competitive edge and be good stewards of our environment.Current marine market trends include adoption of alternative fuels, acquiring new construction vessels, retrofitting existing fleet, and determining ideal solutions for procuring these vessels.

The St. Lawrence Seaway is made up of a broad network of interconnected infrastructures. Channels, canals, port facilities and fleets illustrate the connections between transportation equipment, industrial production and the artificial, human-made environment.This valuable infrastructure represents significant capital investments that have already been amortized. The maintenance, modernization and adaptation of the sea-river network make it possible to meet the demands for capacity, fluidity and reliability imposed by the transport industry.From their position as supply chain nodes, the St.

The year just ended, 2021, might be described as being about “trying to get back to normal”, across the entire transportation spectrum, two years into the pandemic. During this time, the decarbonization and electrification waves have swept across maritime passenger transport. The passenger side of the business is dependent on multiple funding sources; increasingly, this money will be driven by environmental and social considerations.The long-awaited funding of “infrastructure”-related projects…

Introducing a new class of warship can be fraught with pain, and the first ship is always the hardest – almost always behind schedule and over budget. And trying something new and transformational is even harder.The U.S. Navy knows this from experience. That’s one reason why the Navy is opting for a lower risk design for its next class of guided missile frigates (FFGs).Just about every new class has experienced a rough start. Although the USS Arleigh Burke-class of guided missile destroyers (DDGs) today represent the largest and most successful class of warships…

For dredging company officials, the first quarter of 2021 was a pretty good start to a new year. In a tough business, challenges and pitfalls are always expected. But from a bigger picture perspective—markets, regulations and policies—company officials couldn’t be faulted if a bit of optimism infused their worldview.There are a number of reasons for this. Many are well known and don’t need to be detailed here. Just quickly, though, WRDA 2020 would be at the top of the list. WRDA…

Offshore wind caught a favorable gust with the 2020 election of Joe Biden, and the following breeze from the early 2021 reconfiguration of the U.S. Senate toward Democrats. Though widely touted as a growth engine for maritime businesses (as well as shoreside trades), the latter years of the Trump administration seemed to see delay after delay.The class society DNV has been involved in offshore wind since its outset in the early 1990s, and now has 2,000 energy experts working in its efforts supporting this power source.

In early 2021, the somber news from the cruise sector continued. For some cruise brands, their own version of “lockdowns” will have spanned an entire year. By late January, 2021, Carnival and others were hesitantly pegging their restarts for April/May 2021, and for some markets, late summer, under a Conditional Sail Order promulgated late last year by the Centers for Disease Control and Prevention (CDC).What else to do but look ahead?In preliminary earnings guidance, Carnival Corporation (NYSE: CCL)…

Another year has passed since our last mapping of the maritime software landscape, and it is once again time to review the latest developments and trends in this space.Overall, 2019 was another turbulent year for most shipping markets, overshadowed by preparations for the IMO 2020 sulfur regulations, rising geopolitical tensions, the trade war between the USA and China, as well as natural disasters disrupting global supply chains. This article provides insight into the changes seen in the maritime software landscape under these turbulent conditions: On a high-level…

Dredging contractor Weeks Marine has ordered a new trailer suction hopper dredger from Eastern Shipbuilding Group, to be delivered in the first quarter of 2023.The new dredge, RB Weeks, to be constructed at Eastern's Allanton shipyard in Panama City, Fla. will be a sister ship to the Eastern-built twin screw TSHD Magdalen placed into service in 2018. The RB Weeks is named after the co-founder of the company and the husband of Magdalen Weeks.The shipbuilding order, signed on April 16, 2020, adds to billions of dollars in capital investments made recently by the U.S.

It is often difficult to push through the federal government morass to focus on the issues that actually matter to the inland operator. While 2020 inevitably will be a contentious year in American politics, it is critical to stay focused on the items that will have direct impact on the U.S. maritime industry. From a potential new Water Resources Development Act (WRDA) bill to potential Jones Act challenges, 2020 will be an important year for inland operators to stay politically engaged.Work on WRDAJanuary marked the beginning of Congress’ work in earnest toward introducing a new WRDA bill.

Global oil firms are preparing to spend more than $53 billion in Guyana’s coveted Stabroek Block during the coming decade.According to Rystad Energy research, recent discoveries in the Guyana-Suriname basin have proven a wider petroleum system and may cause an upgrade in resource estimates, drawing extra attention to upcoming wells.It said that with more than 8 billion barrels of recoverable oil discovered in Stabroek thus far, companies are set to boost their capital expenditure for the area, with ExxonMobil leading the way.The Liza field – the first and largest discovery in the block – has increased the oil major’s appetite, as its…

The global floating production storage and offloading (FPSO) vessel market is expected to grow at a robust rate of 11.80% during the forecast period 2016 to 2026. Additionally, the revenue in the global FPSO vessel market is projected to reach up to US$8.30bn by the end of 2026.Growing demand for alternative sources of oil due to continual depletion of existing oil reserves drives the global FPSO vessel market, said a report by Transparency Market Research Market (TMR).On the basis of geography, Latin America held a large share until 2016. In the upcoming years Brazil is projected to hold a major share in the global floating production storage and offloading vessel market.

The multi-billion capital investment by Equinor at its new Dogger Bank Offshore Wind Farm will see it rival its major oil and gas projects, according to Rystad Energy."The offshore wind project Dogger Bank in the UK North Sea will not only be Equinor’s largest project through 2026, it will also rank as the sixth largest offshore development project in the world during this period," said the energy research firm.UK authorities announced on Friday that Equinor and joint venture partner SSE have been chosen to develop the world’s largest offshore wind farm, Dogger Bank, with an expected $11 billion in capital investments from 2020-2026.Audun Martinsen…

Oakley Capital Investments Ltd has acquired majority stakes in two maritime e-learning providers from Norwegian private equity firm Herkules Private Equity Fund IV and US satellite company KVH Industries.Oakley, the private equity investment company contributed GBP25 million, through its Oakley Capital IV fund to buy the stakes in SG MidCo AS, also known as Seagull, and Videotel Marine Asia Ltd and Super Dragon Ltd, collectively known as Videotel.Over the past 40 years, Videotel and Seagull have established themselves as the best-in-class providers of e-learning to the maritime sector globally. Every year they each provide over 10,000 ships and installations with comprehensive and up-to-date compliance…

Ulstein has developed a range of X-BOW vessels for the RoPax market. The portfolio is based on Ulstein's ‘compact concept’ of shorter, wider and slower design solutions, leading to high capacity vessels and less expensive newbuilds.The X-BOW is one of Ulstein’s contributions to cleaner and more sustainable shipping operations. Introducing the X-BOW on RoPax vessels is a natural design development.Many RoPax vessels operate in harsh areas, for which the X-BOW was originally designed. An X-BOW vessel at the same speed and weather conditions will use less power than a conventional bow vessel.

A new report from the Massachusetts Port Authority (Massport) shows the Port of Boston contributed $8.2 billion in economic activity in 2018, up from $4.6 billion in 2012.Smart investments and partnerships have led to growth in jobs, business revenues, and tax contributions, it said.“The finding that the Port of Boston contributed $8 billion in just one year to the regional economy underscores the important role transportation infrastructure plays in the vitality of an area,” said Transportation Secretary and CEO Stephanie Pollack.“The Baker-Polito Administration has been and will continue to make strategic capital investments in transportation infrastructure in order to create jobs…

The global Liquefied Natural Gas (LNG) as a bunker fuel market was valued around US$ 550 million in 2017, and is expected to register a CAGR of over 8.5%. The bunker fuel market revenue value is exprected to reach US$ 1,263.2 million in 2026.According to a market research report, based on the region the market is segmented into US, Europe, China, India, Japan, and Southeast Asia. Europe market is expected to dominate the global LNG as a bunker fuel market, and it accounts for largest market revenue over US$ 260 mn in 2017 as compared to that of markets in other regions.Dominance by Europe market is expected to continue over the forecast period with comparatively higher CAGR than that of other regions…