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12 Feb 2024

US Spending $7 Million a Year to Maintain Yacht Seized from Russian Oligarch

Amadea (File photo: Sukkoria / CC BY-SA 4.0 DEED)

The U.S. government said it is spending more than $7 million a year to maintain a superyacht it seized from a sanctioned Russian oligarch, and urged a judge to let it auction the vessel before a dispute over its ownership is resolved.Authorities in Fiji seized the 348-foot (106-meter), $300 million Amadea in May 2022, pursuant to a U.S. warrant alleging it was owned by Suleiman Kerimov, a multibillionaire sanctioned by the U.S. Treasury Department in 2014 and 2018 in response to Russia's activities in Syria and Ukraine.Efforts to auction the yacht are being challenged by Eduard Khudainatov…

27 Sep 2023

Jailed Russian Tycoon Launches $14B Lawsuit in UK Over Port Holdings

Credit:Maxim Tupikov/AdobeStock

Russian tycoon Ziyavudin Magomedov, jailed at home in Russia, has launched a London lawsuit seeking nearly $14 billion over his holdings in valuable port operators, which he says were seized as part of a state-backed conspiracy.The businessman filed the lawsuit at London's High Court on July 20 against several defendants, including Russian state nuclear energy company Rosatom, oil pipeline operator Transneft, private equity firm TPG, and UAE-based port operator DP World.Magomedov…

28 Apr 2023

Protecting Offshore Energy Sources via USV

Photo courtesy Mr. Dave Meron

When most people discuss energy sources such as fossil fuel and green energy, it is from an “either-or” perspective. Some favor the former while others advocate for the latter. However, what is often lost in the arguments on both sides is that regardless of the type of energy being extracted or generated, those platforms that are offshore, especially oil rigs, oil and gas pipelines, and wind farms, are incredibly vulnerable to anyone who wants to attack these sources in wartime…

20 Mar 2023

GEOxyz Opens US Office

(File photo: GEOxyz)

Belgium-based offshore survey services provider GEOxyz announced it has opened its first office in the United States, located in New Brunswick, N.J., as it expands to serve the offshore wind energy industry on the U.S. East Coast"The renewable energy industry in the U.S. is an important market in full expansion and we are thrilled to establish a presence here," said Patrick Reyntjens, CEO of GEOxyz. "We have extensive experience in offshore surveying and we are eager to provide…

09 Nov 2022

Australian Mining Magnate Calls for Ban on Seabed Mining

Image courtesy of Investigation of an Historic Seabed Mining Test Site on the Blake Plateau, NOAA Ocean Exploration

Fortescue Metals executive chairman Andrew Forrest on Tuesday said his charitable foundation is in favor of a pause on seabed mining, the first time a prominent mining executive has spoken out against the nascent industry.Forrest said the Minderoo Foundation, which he and his wife Nicola fund with the dividends they get from Fortescue, will back a pause until there's sufficient evidence that damage to ocean environments can be prevented.Seabed mining would involve vacuuming up potato-sized rocks rich in battery metals that blanket vast swathes of the sea floor at depths of 4-6 kilometres…

15 Sep 2022

Russian Billionaire Sues French Customs for Seizing His Yachts

A Russian billionaire is suing French authorities in an effort to win back access to two of his yachts, arguing customs officials did not have the right to immobilize them despite him being on an EU sanctions list, his lawyer said on Thursday.Alexey Kuzmichev, one of the main shareholders of Russia's Alfa-Bank, who was sanctioned by the EU in March for his ties to President Vladimir Putin, appealed the seizure of his ships "La Petite Ourse" and "La Petite Ourse II", held in the Cote D'Azur towns of Antibes and Cannes, respectively."If you own an asset for your personal use, like a yacht, you have the right to make use of it even though it's frozen"…

23 Aug 2022

Superyacht Linked to Sanctioned Russian Oligarch Auctioned in Gibraltar

A $75-million superyacht linked to a sanctioned Russian steel billionaire was auctioned on Tuesday in Gibraltar, court sources said, in what is understood to be the first sale of its kind since Russia invaded Ukraine in February.The Axioma was granted entry into Gibraltarian waters and then impounded by the authorities in March after U.S. bank JP Morgan said its alleged owner Dmitry Pumpyansky had reneged on the terms of a $20 million loan.The 72.5-metre vessel is being auctioned by the Gibraltar Admiralty Court. It was listed for one day, with closed bids to be sent electronically by midday on Tuesday, a court spokesman said.Nigel Hollyer…

13 Jun 2022

WETA's New Ferry Enters Service in San Francisco

(Photo: WETA)

A new high-speed passenger vessel entered service for the San Francisco Bay Area Water Emergency Transportation Authority (WETA) on Monday.The newbuild, Dorado, is the first in a series of four new ferries being built for WETA by Mavrik Marine in La Conner, Wash. Construction on the second vessel in the Dorado class, Delphinus, is underway. Vessel construction was funded through the Federal Transit Administration and the State of California’s Proposition 1B in collaboration with the California Office of Emergency Services.

05 May 2022

Hornblower Gets Grant for Green Hydrogen Fueling Station

© Andreas Prott / Adobe Stock

Hornblower Group on Thursday announced its subsidiary Hornblower Energy has received an $8 million grant from the U.S. Department of Energy (DOE) to design, construct and operate the first asset of its kind to produce green hydrogen through the use of hydroelectric power and dispense to ferry and maritime vessels in the United States. The first in the world of its kind, the three-year project officially began in 2021 in San Francisco with a projected completion date of 2025. Fueling…

22 Mar 2022

Russian Billionaire's Yacht Detained in Gibraltar

A luxurious super-yacht linked to the owner of Russia's largest steel pipe maker, who is currently under British and European Union sanctions, docked in Gibraltar on Monday and was then detained by the authorities.Western sanctions on Russian oligarchs over Moscow's invasion of Ukraine have triggered an exodus of luxury yachts from Europe in recent weeks, with several heading towards the Maldives, which has no extradition treaty with the United States.Reuters TV footage showed the "Axioma", believed to be owned by Dmitrievich Pumpyansky, owner of steel group TMK, moored at Gibraltar, a British Overseas Territory on the southern tip of the Iberian peninsula…

21 Mar 2022

Yacht Linked to Russian Oligarch Docks in Turkey

A superyacht linked to Russian billionaire Roman Abramovich docked in the Turkish tourist resort of Bodrum on Monday, after skirting the waters of European Union countries which have sanctioned the oligarch over Russia's invasion of Ukraine.Abramovich was among several wealthy Russians added last week to an EU blacklist, and EU governments have acted in recent days to seize yachts and other luxury assets from them.World governments are seeking to isolate President Vladimir Putin and his allies over Russia's invasion of Ukraine, which the Kremlin calls a "special military operation".Last week, Abramovich flew into Moscow after leaving Istanbul in his private jet.

08 Mar 2022

Yacht Linked to Russian Oligarch Leaves Barcelona

A superyacht linked to Russian oligarch Roman Abramovich left Barcelona on Tuesday where it had been undergoing repairs in a local shipyard, ship-tracking data showed.The 140-meter (460-foot) My Solaris, which sails under a Bermuda flag according to monitoring site Marine Traffic, left Spanish company MB92's Barcelona shipyard just after 5 p.m. (1600 GMT) on Tuesday, according to the same site. MB92 declined to comment.The superyacht, which was built in a German shipyard and first took to the sea early last year, is one of a string of yachts owned by Abramovich, according to reports in luxury goods publications SuperYachtFan, SuperYacht Times and Forbes.Abramovich…

03 Mar 2022

Russian Billionaire's Yacht Stuck in Hamburg Shipyard

© Olaf Gedanitz / Adobe Stock

A luxury yacht linked to Russian billionaire Alisher Usmanov, who faces EU sanctions over Russia's invasion of Ukraine, is sitting in a shipyard in the German port of Hamburg and local authorities said there were no plans to deliver it to its owner.Hamburg authorities denied that they had seized the more-than-500-foot (150 meter) Dilbar superyacht, which boasts a 25-meter swimming pool and is worth nearly $600 million. Forbes had reported on Wednesday that it had been undergoing…

03 Mar 2022

Russian Troops Enter Strategic Ukrainian Port of Kherson

Kherson / Image Credit: ronedya/AdobeStock

Russian troops were in the center of the Ukrainian port of Kherson on Thursday after a day of conflicting claims over whether Moscow had captured a major urban center for the first time in its eight-day invasion.Russia's defense ministry said it had captured Kherson on Wednesday but an adviser to Ukrainian President Volodymyr Zelenskiy responded that Ukrainian forces continued to defend the Black Sea port of about 250,000 people."We are a people who broke the enemy's plans in a week," Zelenskiy said in a video address.

03 Mar 2022

France Seizes Yacht Reportedly Belonging to Rosneft Boss Sechin

French customs have seized a yacht belonging to Rosneft boss Igor Sechin as it tried to leave the Mediterranean port of La Ciotat in a breach of EU sanctions on Russian oligarchs, Finance Minister Bruno Le Maire said.The move came as western states are implementing massive sanctions, including asset freezes, against Russia for invading its neighbor Ukraine. A separate nearly $600 million luxury yacht owned by Russian billionaire Alisher Usmanov has also been seized, by German authorities, Forbes reported. The 88-meter "Amore Vero" arrived in La Ciotat on Jan.3 and was due to stay there until April 1st for repairs, the finance ministry said in a statement…

08 Nov 2021

Superyachts Enjoy Pandemic Tailwind as Rich Seek Zen at Sea

© petert2 / Adobe Stock

When Chinese billionaire Jack Ma took a trip to Spain's Mallorca island last month, much was made of it being his first foreign foray since a 2020 fallout with regulators had clipped his wings.However, Ma's sunny sojourn on his newly-built 88-metre (289 ft) cruise boat Zen - estimated to be worth $200 million - also put a spotlight on a global trend: the return of the superyacht.As the number of billionaires grows and COVID-19 has added to incentives for avoiding crowds, the multi…

28 Oct 2021

Stephaich, Pyne Honored by National Rivers Hall of Fame

Peter Stephaich (left) and Joseph H. Pyne.

National Rivers Hall of Fame will honor marine towing industry veterans Peter Stephaich and Joseph H. Pyne during the Annual Waterways Symposium hosted by Waterways Council, Inc. in St. Louis, Mo., in November.Stephaich, the current Chairman and CEO of Blue Danube Incorporated and Campbell Transportation Company, Inc., and Pyne, Kirby Corporation’s former CEO, will receive the Hall's Achievement Award, given to individuals making significant contributions to America’s waterways and barge industry.Having served the river industry for over 30 years…

24 May 2021

Lim Family's Global Assets on Radar After Singapore Court Move

© tempakul / Adobe Stock

A Singapore court has approved a freeze on up to $3.5 billion of assets of the family behind collapsed Hin Leong Trading Pte Ltd, boosting the prospect of debt recovery from the former oil trading empire that counts some of the world's biggest banks among its creditors.Hin Leong was wound up in March after failing in a year-long effort to restructure more than $3 billion in debts after the COVID-19-led oil crash laid bare huge losses. Founder Lim Oon Kuin admitted in a court document…

02 Nov 2020

US Sanctions: Spotlight on Russia

© Mikhail Perfilov / Adobe Stock

This article will focus on U.S. sanctions on Russia/Ukraine. The Russia/Ukraine sanctions program is a complex mix of comprehensive, noncomprehensive and “sectoral” sanctions. It includes both primary sanctions aimed at U.S. persons and secondary sanctions aimed at non-U.S. persons. It encompasses broad sectors of the Russian economy and significant dealings with sanctioned individuals and entities, while generally permitting most transactions with Russia. Accordingly, it stands alone in U.S.

13 Aug 2020

Mauritians Angered by Government Response to the Wakashio Oil Spill

(Satellite image ©2020 Maxar Technologies)

On the evening of Saturday July 25, the MV (Merchant Vessel) Wakashio grounded on coral reefs in the south-east of the Indian Ocean tropical island of Mauritius. The ship, a Japanese-owned but Panama-registered bulk carrier designed to transport unpackaged goods such as coal or grain, was empty of cargo but had an estimated 200 tons of diesel and 3,800 tons of heavy fuel oil onboard. The ship sat for over a week before cracks emerged in its hull.Fuel oil began to leak into the expansive turquoise blue lagoon outside the coastal village of Mahébourg.

03 Aug 2020

Leadership Development in the Merchant Marine: The Growing Significance for the Future

© Coloures-Pic/AdobeStock

How many times have you heard someone say, “Oh, that person is a born leader; I could never do what they do as I am not a born leader”? That train of thought has recently come under increased scrutiny and debate as the U.S. Merchant Marine enters the 21st century. As part of this focus, the International Maritime Association (IMO) updated the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers (STCW) with the 2010 Manilla Amendments.

10 Oct 2019

Autonomous Shipping – Cyber Hazards Ahead

A look at the typical areas most frequently seen as the scene of common accidents on board workboats. (source: European Maritime Safety Agency [EMSA])

If autonomous vessels are the future of maritime shipping, then cyber threats may be its Achilles heel. Congested shipping, restricted visibility, limited maneuverability, and intensive docking activities all contribute to port hazards – 42 percent of EU reported marine accidents (injury/death/damage to ships) took place in port areas and 44 percent of workboat fatalities occurred on Tugs. Autonomous shipping should provide numerous benefits including increased safety by relieving crewmembers of unsafe and repetitious tasks.

03 Oct 2019

NaviGate2020 set for Turku, Finland

Photo courtesy of NaviGate Expo

A new exhibition, Nordic Maritime Expo 2020, is set to take place in Turku, Finland, January 22-23, 2020.Billed as a presentation of the latest digital and clean tech ideas, Finland touts itself as the heart of global digitalization and green technical developments.NaviGate2020, the Nordic Maritime Expo will take place on January 22nd and 23rd 2020 in the Finnish city of Turku. It is the place to be to understand how Finnish and other leading shipping companies have begun embracing…

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