Ex News

If nothing else, building vessels in the U.S. is a complicated business.In a session on the domestic shipbuilding marketplace, at Marine Money’s late-November 2023 conference held in New Orleans, Ben Bordelon, president and CEO of Bollinger Shipyards (with more than a dozen facilities, in Mississippi and Louisiana), described his company’s architecture as a “three-legged stool approach: commercial newbuilds, government newbuilds and repair/conversion capabilities”.On the same panel…

Shipowner and shipping fund manager Pelagic Partners announced it has teamed up with asset management firm Borealis Maritime to invest in a pair of platform supply vessels (PSV).Built in 2021, the 89-meter Aurora Coey – formerly Viking Coey – and Aurora Cooper – ex-Viking Cooper – are both dual-fuel and capable of operating on liquefied natural gas (LNG), as well as being ammonia-ready. The ice-class sister vessels are fitted with hybrid battery power, and Low Loss Concept (LLC) solutions that further reduce emissions…

Norwegian shipbuilder Vard, a subsidiary of the Fincantieri Group, has appointed Cathrine Kristiseter Marti as its new Chief Executive Officer (CEO).Starting from June 1, 2024, Marti will take over from the current CEO, Alberto Maestrini, who will remain in his position as Chairman of the Board.Maestrini will continue to lead the Offshore and Special Vessels business in Fincantieri and through this continue to support Vard’s integration in the Fincantieri Group.The appointment…

This article examines 10 structural safeguards in Coast Guard Suspension and Revocation (S&R) Proceedings that ensure Coast Guard Administrative Law Judge (ALJ) decisional independence. These safeguards separate potential agency influences from the ALJ decision making process and are critical to mariner due process and fundamental fairness. We will start with an overview of Coast Guard S&R proceedings, followed by brief discussions of the Administrative Procedure Act, Administrative Law Judges, and U.S. Office of Personnel Management oversight.

Indian refiners have resumed Venezuelan oil purchases through intermediaries, with Reliance RELI.NS set to meet executives from state firm PDVSA next week to discuss direct sales following the easing of U.S. sanctions on the South American country, people familiar with the matter said.Trade resumed between the OPEC producer and the second largest destination for its oil after Washington in October temporarily lifted sanctions banning Venezuelan oil exports, prompting a flurry of spot sales of crude and fuel through middlemen and traders…

Eneti, a company providing offshore wind installation vessel services, said Tuesday its subsidiary Seajacks had signed a contract with an undisclosed client to transport and install wind turbines.With mobilization starting in the second quarter of 2027, the contract will be performed by one of the company’s two NG16000X Wind Turbine Installation Vessels currently under construction at Hanwha Ocean (ex-Daewoo Shipbuilding & Marine Engineering) in South Korea. Including mobilization and demobilization…

Russia said on Sept. 21 that it had temporarily banned gasoline and diesel exports to all but four ex-Soviet states in response to domestic shortages, a move that will disrupt global trade that has already had to adjust to Western sanctions on Russian fuel exports.Russia eased some of the restrictions on Sept. 25, saying it would allow the export of bunkering fuel for some vessels and diesel with high sulphur content. The government has yet to give a timeline for any further easing…

The Russian government has approved some changes to its fuel export ban, lifting the restrictions for fuel used as bunkering for some vessels as well as diesel with high content of sulphur, a government document showed on Monday. It also lifted restrictions on the export of fuel already accepted for export by the Russian Railways and Transneft before the initial ban had been announced last week. The ban on all types of gasoline and high-quality diesel remains in place. Russia…

Eneti's offshore installation services subsidiary Seajacks UK has signed a vessel reservation agreement with an undisclosed client to transport and install turbines.With mobilization starting in the first quarter of 2027, the contract will be performed by one of the company’s two NG16000X Wind Turbine Installation Vessels currently under construction at Hanwha Ocean (ex-Daewoo Shipbuilding & Marine Engineering) in South Korea. Including mobilization and demobilization, the engagement…

Appetite for Iranian crude is growing in China, the world's biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global prices, while Tehran is stepping up output and exports despite U.S. sanctions.Although China's "teapots", or small independent refiners, are stocking up on Iran's discounted oil as they exploit robust margins to fill strong seasonal demand, big state refiners are still keeping away.Iran's crude exports of about 1.5 million barrels per day (bpd) stand at their highest in more than four years…

Two ships have been spotted leaving port in the southern Ukrainian city of Odesa, local lawmaker Oleksiy Honcharenko said on Friday.LSEG interactive map data showed two vessels, both more than 10 km (6 miles) from the shore on Friday, underway using their engines and heading south-east. If they successfully leave Odesa's ports through the Black Sea, they would be the third and fourth vessels to do so since Moscow withdrew from the Black Sea Grain deal in July. The UN-brokered deal had previously allowed Ukraine…

Russia's successor to McDonald's has teamed up with energy company Gazprom Neft to fuel marine vessels with biofuel produced using waste cooking oil an effort to lower their carbon footprints, the companies said on Thursday.Russia has said it was still committed to its climate targets despite the deepest political rift with the West in decades. Biofuels are widely considered to be less harmful in terms of emissions than conventional fuels.Gazprom Neft's bunkering business subsidiary…

Crewing agency Boreas Maritime, headquartered in the Netherlands, announces the opening of a new branch in Croatia. The team has been expanded with two new, dedicated team members to run the branch in Rijeka, Croatia.The branch office will be largely focused on the offshore industry, offering new employment opportunities to Croatian seafarers.Marina Frkovic, senior account manager and co-owner Boreas Maritime Croatia, and Ivan Plisic, senior account manager and co-owner Boreas Maritime Croatia, will run the new branch.

Asian spot liquefied natural gas (LNG) prices have weakened for the fifth consecutive week on muted demand due to healthy stocks, remaining at their lowest level in two years.The average LNG price for July delivery into north-east Asia was down 3% from the previous week at $9.50 per million British thermal units (mmBtu), the lowest since early May 2021, industry sources estimated."North Asia remains largely void of demand. Prices have continued to walk down week-on-week and support hasn't been helped by Japanese utilities selling into an already weak market…

BIMCO, the world’s largest shipping association, has elected Nikolaus H. Schües, CEO and owner of Reederei F. Laeisz as President at the organization's general meeting in Hong Kong on Thursday.Schües takes over as the 46th President of BIMCO and the first German national holding the position since 2011. He takes over from Sabrina Chao of Wah Kwong Maritime Transport Holdings Limited, who has completed her two-year term.“I am honoured to be elected President of an organization…

Asian spot liquefied natural gas (LNG) prices slipped to their lowest level in two years on weak demand and high inventories, while European LNG prices also fell below the $10 mark amid healthy stock build and limited need for additional supply.The average LNG price for July delivery into northeast Asia was down 6.6% from the previous week at $9.8 per million British thermal units (mmBtu), the lowest since May 2021, industry sources estimated."Prices continue to linger sub $10 as general demand remains lacking…

After some recent declines in the sub-continent markets, the ship recycling market appeared to have reached the bottom early this week as a certain “stability” across the markets led to some greater confidence to acquire some of the slim pickings of tonnage currently available for recycling.However, as the week came to an end, global currencies seemed to suffer against the U.S. Dollar in unison, as all of the major ship recycling destinations faced some declines (especially in Pakistan), leaving sentiments under pressure.

U.K.-based shipowner Lomar Shipping announced it has acquired three Supramax bulk carriers as part of its ongoing bulker fleet expansion program.The company, a subsidiary of New York-based Libra Group, said it has taken delivery of the 57,038-dwt Oslo Trader (ex Ariadne, built in 2010), while the 2012-built 56,702-dwt Lima Trader (ex Universal Bangkok) and 57,075-dwt Rome Trader (ex Haut Brion), built in 2011, will be delivered later this month.All three Dolphin 57 vessels are Chinese-built, increasing Lomar's bulk carrier fleet to nine ships.

When China sailed one of its two active aircraft carriers, the Shandong, east of Taiwan last month as part of military drills surrounding the island, it was showcasing a capability that it has yet to master and could take years to perfect.As Beijing modernizes its military, its formidable missile forces and other naval vessels, such as cutting-edge cruisers, are posing a concern for the U.S. and its allies. But it could be more than a decade before China can mount a credible carrier threat far from its shores…

India and China have snapped up the vast majority of Russian oil so far in April at prices above the Western price cap of $60 per barrel, according to traders and Reuters calculations.That means the Kremlin is enjoying stronger revenues despite the West's attempts to curb funds for Russia's military operations in Ukraine.A G7 source told Reuters on Monday the Western price cap would remain unchanged for now, despite pressure from some European Union countries, such as Poland,…

China's seaborne imports of Russian oil are set to hit a record this month after refiners took advantage of cheap prices as domestic fuel demand rebounded, but Russia's plan to cut exports will likely cap buying in coming months.Hefty Chinese buying, alongside robust Indian demand, has been spurred by steep price discounts but is providing Moscow much-needed revenue after the Group of Seven imposed a $60 price cap on Russian crude."Price is the king," said a purchasing manager…

Premiums of marine fuel, also known as bunkers, are set for a bumpy recovery in March in Singapore, the world's largest bunkering port, as refuelling demand from the shipping sector has recently waned, multiple trade sources said.A weaker Singapore bunker market reflects slowing activity at one of the world's most major ports that sits on a crucial shipping lane, while lower demand will also weigh on Asia's fuel oil refining margins.Bunker premiums for the most actively traded very low sulphur fuel oil (VLSFO) grade…

Shell has reportedly threatened legal action against Greenpeace activists who last week boarded a heavy load carrier carrying Shell's Penguins FPSO, destined for deployment in the UK North Sea.Last Tuesday, four activists climbed aboard the Boskalis' White Marlin vessel carrying the cylindrical FPSO, in the Atlantic Ocean north of the Canary Islands, calling for Shell to "Stop Drilling. Start Paying." Read more here.According to Greenpeace, Shell, late on Friday, Feb 3, hit the…