Moa News

“Wind Turbines: The Bigger, the Better” -USDOE Office of Energy Efficiency & Renewable Energy, August 24, 2023Last December the Bureau of Ocean Energy Management (BOEM) published a proposed sale notice regarding new development areas for utility scale wind projects in the central Atlantic Ocean. The notice includes an upfront issue: the need to mitigate conflicts with U.S. Department of Defense (DOD) activities. BOEM explains that in certain areas the Air Force has set an airspace floor of 1,000 feet above sea level and the Air Force asked BOEM to keep structures below that height.

2024 marks another year for development of a biennial WRDA bill—Water Resources Development Act, critical legislation for the Nation’s waterways, ports and harbors. WRDA encompasses a range of issues, from environmental regs to energy use to agriculture and, of course, a focus on projects critical for economic growth.Because these are dynamic and timely issues, Congress and the maritime sector like to keep WRDA on a two-year reauthorization timeline. Indeed, the House Transportation & Infrastructure Committee, December and January, held three WRDA information hearings.

Global container shipping line Evergreen Marine Corporation has signed a memorandum of agreement (MOA) with X-Press Feeders, the world’s largest independent common carrier, to place its containers on X-Press Feeders’ new dual fuel green methanol vessels. X-Press Feeders is planning to run these vessels on green methanol and operate them within Europe.The two companies moreover will work together to launch a feeder network, which will be the first in Europe to be powered by green methanol.Initially…

The Norwegian offshore vessel owner Golden Energy Offshore Services AS (“GEOS”) said Wednedsay it had entered into a memorandum of agreement (the “MoA”) with an undisclosed buyer for the sale of the subsea support vessel VOS Sugar.The VOS Sugar is one of the Vroon Offshore vessels GEOS agreed to buy last month, a purchase which is in the process of completing. The MoA is subject to satisfactory vessel inspection by the buyer. Provided that the subject is lifted, the sale is expected to be completed in November 2023. "The agreed sales price in the MoA is EUR 15 million and when completed would represent a substantial cash profit to the company relative to the acquisition cost of USD 9.4 million in the [Vroon fleet acquisition]…

On July 17, 2023, senior leaders of the American Pilots’ Association (APA)  and the National Oceanic and Atmospheric Administration (NOAA), National Ocean Service, Office of Coast Survey signed a Memorandum of Agreement (MOA) that calls for the two parties to cooperate and share information so that APA and NOAA can better carry out their respective roles and responsibilities related to safe maritime navigation in America’s ports and waterways. Rear Admiral Benjamin Evans (Director…

In the 45 years since the Arab Shipbuilding & Repair Yard (ASRY) opened on reclaimed land in Bahrain, the Middle East has become one of the world’s ship repair hotspots. A broad range of shipyards now service both regional and global markets.Regional yards have a ready market, with hundreds of offshore rigs working across the region together with the service ships that support them. Then there are thousands of tankers and gas carriers that arrive each year to load energy cargoes for far-flung destinations.

Cuba, mired in an energy crisis that has brought frequent blackouts, is negotiating with a Turkish company to have it double the megawatts it currently produces for the country from shipboard generators just offshore, according to two people with knowledge of the discussions.Cuban officials are in talks with Karpowership, one of the world’s largest operators of floating power plants and part of the Turkey-based Karadeniz Holding, the sources said. The company already has five…

Norwegian offshore vessel owner Eidesvik Offshore will manage the construction support vessel Viking Neptun it recently agreed to sell to DEME.The company has now signed a two-year ship management agreement with DEME under which Eidesvik will provide full technical management, crewing and operation of the vessel.Viking Neptun was built for Eidesvik in 2015.In January 2022, Eidesvik entered into a Memorandum of Agreement (“MoA”) with DEME to sell the vessel. The MoA is expected to complete in the fourth quarter of 2022…

Italian shipbuilding group Fincantieri said it has secured a contract to build up to three "ultra-luxury" cruise ships for an unnamed international buyer.The €1.2 billion deal is for one vessel to be delivered by the end of 2025, with options for two additional vessels, Fincantieri said.Fincantieri did not share any specifics about the cruise ships' size and technical details.The cruise ship order is one of only a handful placed since the cruise industry was derailed by the COVID-19 pandemic…

Italian shipbuilding group Fincantieri on Wednesday announced it has signed a memorandum of agreement (MOA) with Explora Journeys, the luxury travel brand of the MSC Group's cruise division, for the construction of two hydrogen-powered luxury cruise ships.EXPLORA V and EXPLORA VI will feature a new generation of liquefied natural gas (LNG) engines that will tackle the issue of methane slip and will also be equipped with industry first environmental technologies and solutions, including a containment system for liquid hydrogen that will enable them to use this promising low-carbon fuel.

NOAA and offshore wind development company Ørsted have signed a memorandum of agreement (MOA) to share physical and biological data in Ørsted-leased waters subject to U.S. jurisdiction. NOAA, said the MOA is the first of its kind with an offshore wind developer and that it anticipates Ørsted’s data will fill gaps in ocean science areas, particularly in ocean mapping and observing, to help meet NOAA missions related to climate adaptation and mitigation, weather-readiness, healthy oceans, and resilient coastal communities and economies.

BW LPG has entered into memorandums of agreement (MOA) to sell two very large gas carriers (VLGC) BW Confidence and BW Cedar, the Singapore-based shipowner announced Monday.BW Confidence was built in 2006 and has a carrying capacity of 83,270 cubic meters. The sale is expected to generate approximately $36 million in liquidity and an expected net book gain of approximately $4 million. The sale and delivery of the vessel to its new owner is expected to be completed in the first quarter of 2021.BW Cedar was built in 2007 and has a carrying capacity of 82,260 cubic meters. The sale is expected to generate a net book gain of approximately $3 million.

Hong Kong-based Asia Energy Logistics has said it has agreed to sell its bulk carrier MV Asia Energy.In a brief statement on Thursday, Asia Energy Logistics said that on November 5, 2020, after trading hours, its subsidiary Asia Energy entered into a MOA with an unnamed buyer to sell the M/V Asia Energy bulk carrier.The buyer will pay a cash consideration of US$3,300,000 (equivalent to approximately HK$25,740,000) for the 2001-built vessel.Asia Energy Logistics bought the 169 meters long handysize bulk carrier in 2013.According to the vessel's heatmap found on VesselsValue, the bulk carrier has in the past year operated mainly in Southeast Asia.

Diana Shipping announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement (MoA) to sell to an unaffiliated third party, the 2002-built vessel Norfolk.The global shipping company specializing in the ownership of dry bulk vessels said that the delivery to the buyer is scheduled latest by April 6, 2020, for a sale price of US$8.75 million before commissions.Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 41 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 14 Panamax).As of today, the combined carrying capacity of the Company’s fleet, including the m/v Norfolk, is approximately 5.2 million dwt with a weighted average age of 9.7 years.

FSL Trust Management Pte., the trustee-manager of First Ship Lease Trust, has announced the sale of the crude oil tanker FSL Shanghai.FSL Trust Management has executed a Memorandum of Agreement (MoA) to sell the crude oil tanker to an unaffiliated third party and has received the initial 10% deposit in escrow.FSL Shanghai, is a South Korean, 2007-built 115,000 DWT crude oil tanker.Completion of the disposal is scheduled to take place before the end of March 2020. The net proceeds of the disposal will be utilized for partial repayment of the Trust’s outstanding bank debt and the remaining funds will be kept for general corporate purposes.

Diana Shipping announced that it has received a notice of cancellation of the Memorandum of Agreement (MoA), between a separate wholly-owned subsidiary and an unaffiliated third party, to sell the 2005-built Panamax vessel “Calipso”, as previously announced.The global shipping company specializing in the ownership of dry bulk vessels said in a press note that the buyers elected to exercise their right to cancel the Contract as a result of vessel’s missing the cancelling date stipulated therein, due to unforeseen events, unrelated to the condition of the vessel, and have requested the refund of the deposit of the purchase price held in joint escrow account by the deposit holder.Diana Shipping has taken steps to release the deposit to the buyers…

Diana Shipping announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement (MoA) to sell the 2005-built vessel Calipso to an unaffiliated third party.According to the global shipping company specializing in the ownership of dry bulk vessels, the vessel, which is sold for a sale price of US$7.275 million before commissions, is scheduled to be delivered to the unnamed buyer by the end of January.The Greek dry bulk owner has been selling its panamaxes for the last year and Calipso is the nineth in the row.Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 41 dry bulk vessels (4 Newcastlemax…

Cyprus-based company active in the oil and gas industry S.D Standard Drilling signed Memorandum of Agreement (MoA) to sell one  large Norwegian built Platform Supply Vessel (PSV), Standard Supporter for USD 15 million.The transaction was completed yesterday (10 December 2019). S.D Standard Drilling Plc. has, through its subsidiary, Standard Supporter AS, received the transaction amount in full. Following the sale, the Company will control, directly and indirectly, a fleet  of 13 PSVs ; four large PSVs 100% owned and nine medium-sized PSVs with approximately 26% ownership interest, including one vessel on a bare boat contract.The company sold one UT 776 CD PSV  vessel, Standard Supporter, for USD 15 million last month.

French container shipping giant  CMA CGM plans to sell selected port terminals, ships and other assets to raise roughly $2 billion to finance its acquisition of CEVA Logistics, according to Reuters.Chinese state-owned conglomerate China Merchants Port has entered into a Memorandum of Agreement (MOA) with CMA CGM to acquire interests in a portfolio of 10 terminals from the French container line and its affiliates via Terminal Link for a total consideration of $955 million.As part of the deal, China Merchants Port will buy as much as $468 million of convertible bonds issued by the joint venture, Terminal Link, and will loan as much as $500 million to CMA CGM.CMA CGM is also raising about $860 million from a ship sale and lease-back deal.

Indian Ministry of shipping has signed a memorandum of agreement (MoA) with IIT Kharagpur on Wednesday for setting up a Centre for Inland and Coastal Maritime Technology (CICMT).CICMT will provide technological, vessel design and applied research support for inland waterways and coastal shipping, said a government release.Speaking on the occasion, Mansukh Mandaviya, Minister of State for Shipping said, “Indigenous technology is the need of the hour for the maritime sector, and we are determined to promote Make- In- India as per the vision of Prime Minister Shri Narendra Modi.”Detailing about the state-of-the-art centre which is being set up the under the flagship Sagarmala Program…

Geneva headquartered MSC Cruises announced plans to enter the ultra-luxury cruise segment with a memorandum of agreement (MOA) for the construction of four new vessels from Italian builder Fincantieri. The four cruise ships have a total value in excess of €2 billion and bring the number of MSC Cruises ships to be built by Fincantieri to eight.The first ultra-luxury ship is scheduled for delivery in Spring 2023, followed by one vessel per year thereafter.Pierfrancesco Vago, MSC Cruises’ Executive Chairman…

UK-based player in subsea, onshore/offshore and surface projects TechnipFMC has entered into a memorandum of agreement (MOA) to sell the Global 1201 S-lay and heavy-lift and pipelay vessel in an effort to optimize the profile and size of its subsea fleet.The MOA is subject to certain conditions precedent to complete the transaction. The global oil and gas services company expects to complete the sale in December as these conditions are met, including delivery of the vessel in December 2019.The MOA also includes a Collaboration Agreement with the buyer that would provide five years of exclusivity for a list of named subsea projects in a specific jurisdiction and the right of first refusal for other projects not specifically named in the Collaboration Agreement.Due to this MOA…

Italian shipbuilder Fincantieri has signed a memorandum of agreement (MoA) to design and construct two new-generation luxury expedition cruise ships for French cruise operator Ponant.The MoA also envisages an option for one further sister-ship. The finalization of the contract is subject to the fulfillment of technical and financial conditions.In the past, Fincantieri has already built for Ponant 4 ships in Ancona, "Le Boréal", "L'Austral", "Le Soléal", and "Le Lyrial", delivered respectively in 2010, 2011, 2013, and 2015.VARD, Fincantieri's Norwegian subsidiary, active in the design and shipbuilding of expedition cruise vessels, has built in 2018 and 2019 four units of the "Ponant Explorers" class and will deliver the last two of the series in 2020.