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World's Ghost Fleet in Focus Over US Russian Price Cap Crackdown
U.S. penalties on shippers transporting Russian oil in breach of the G7's price cap could push more Russian cargoes onto vessels referred to as the ghost fleet and away from mainstream tankers, shipping sources and analysts told Reuters.The cap bans Western companies from providing maritime services for Russian seaborne oil exports sold above $60 a barrel.It was designed to keep oil flowing to markets while reducing Russia's energy earnings that it can use to finance its war on Ukraine…
Tango FLNG and Excalibur FSU Set to Begin Journey from Dubai to Eni's Congo LNG Project
The sailaway ceremony for the Tango floating liquefied natural gas (FLNG) unit and Excalibur floating storage unit (FSU) was held Saturday to mark the vessels' sail away from Dubai to Congo, where they will serve Eni's Congo LNG project, whose first phase will start in December 2023.Tango FLNG, which has a liquefaction capacity of approximately 1 billion cubic meters per annum of gas (BCMA), will be moored 3 kilometers offshore along with the Excalibur FSU upon their arrival to Congo.EXMAR is se
Offshore Wind Developers Likely to Cancel Some Contracts After NY Decision
Developers in the U.S. offshore wind industry will likely cancel some power sales contracts in New York after the state last week denied passing on more of the costs to consumers, but major projects off Massachusetts and Rhode Island are set to start up later this year.Several states and U.S. President Joe Biden's administration consider offshore wind to be a key part of their plans to transition away from fossil fuels for energy…
Securing Federal Grant Resources for US Ports
Like many ports, the Alaskan Port of Homer faces aging infrastructure and capital needs well beyond the local funding capacity. The port is a key link in the supply chain for 47 remote, rural, disadvantaged or Alaska Native communities served by Homer, making proposed port infrastructure upgrades critical for shipping statewide as well as for the local community.Enter the Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Law.
NY Will Not Change Offshore Wind and Power Sales Contracts
New York regulators on Thursday denied requests by developers of offshore wind projects and dozens of land-based renewable projects seeking billions of dollars in additional funding for existing contracts to sell power.The state denial could force developers to cancel some money-losing contracts and cancel or delay projects to sell power in New York as it has for some offshore wind developers in Massachusetts.The…
Vessels Run Aground in the Rivers of the Drought-hit Amazon Region
A barge carrying three trucks and 2,000 empty cooking gas cylinders lies stranded on the vast sand banks of a diminished Rio Negro river after running aground last month, highlighting the plight of river transport in the Amazon region hit by severe drought.Officials warned that low river levels risk disrupting grains exports from nearby farm states. On the Madeira, they said barge routes used by grain firms such as Cargill…
Near Collision, Tense Encounter as Beijing Flexes Muscles in South China Sea
The crew of the Philippine coastguard boat watch anxiously as an imposing Chinese vessel draws near and cuts off its path, coming within a metre of collision in a vast stretch of open water in the South China Sea.The captain of the BRP Sindangan shuts off the engine and activates the reverse throttle. China's coastguard issues a warning via megaphone to leave as the Filipino crew watch closely on a…
The Headwinds of US Offshore Wind Development
On March 29, 2021, President Biden announced his ambitious plan to deploy 30 gigawatts (GW) of offshore wind power – enough energy to power 10 million U.S. homes – by 2030. The plan would leverage authorities under the Department of Interior, Energy, and Commerce to guide “more than $12 billion per year in capital investment in projects on both U.S. coasts, create tens of thousands of good-paying, union jobs…
USS Jack H Lucas (DDG 125) Commissioned
DDG 125 is named for Pfc. Jack Lucas, who served in the U.S. Marines during World War II, earning the Medal of Honor for his heroism at Iwo Jima, when he was just 17 years old. He is the youngest Marine, and the youngest service member in World War II, to be awarded the United States' highest military decoration for valor. In 1961, he returned to military service as a captain in the U.S. Army and trained younger troops headed for Vietnam.
Stolt-Nielsen Confirms Strong Third Quarter
Stolt-Nielsen Limited has reported unaudited results for the third quarter ending August 31, 2023 including a net profit of $90.1 million with revenue of $694.4 million.This compares with a net profit of $8.3 million, with revenue of $721.9 million, in the second quarter of 2023. The second quarter included an incremental loss provision of $155.0 million (net profit impact of $105 million) related…
Russia Says IMO Losing Impartiality
The U.N. shipping agency is departing from its impartial role due to "external pressure" and is being used in the interests of "a minor group of beneficiaries", which is impacting the fair treatment of all member countries, Russia said in a submission to the global shipping regulator published this week.The London-based International Maritime Organization (IMO) is responsible for regulating the safety…
Obituary: Captain David J.F. Bruce
Captain David J.F. Bruce, Permanent Representative of the Republic of the Marshall Islands (RMI) to the International Maritime Organization (IMO), and Senior Deputy Commissioner of Maritime Affairs, RMI Maritime Administrator passed away on Friday, 29 September 2023. He was a loving husband to Alison for 53 years, father to Gwendoline, and grandfather to Alison and Alexander. Captain Bruce had a storied career and connection with the sea…
Offshore Wind: Support Vessel Bottlenecks Loom in the US
An offshore wind industry is growing in the U.S. with an aim to meet the Biden Administration’s goal of 30 gigawatts (GW) of offshore wind by 2030, and eventually 110 GW by 2050.But as is the case for any new industry that is building up, there are going to be bumps along the way. The U.S. offshore wind industry is currently grappling with rising costs amid unprecedented supply chain issues and inflation…
Biden Angers All Sides with Scaled Back Offshore Oil Drilling Plan
The Biden administration's plan to slash offshore oil and gas leasing drew fire from both the fossil fuel industry and environmentalists on Friday, with energy companies saying it will raise fuel prices and greens saying it undermines efforts to stop global warming. The criticism from both sides reflects the difficulty Biden's White House has had in dealing with U.S. oil extraction policies, as it…
US Plans Sharp Reduction in Offshore Oil and Gas Lease Sales
The Biden administration on Friday unveiled a plan to phase down oil and gas auctions in federal waters with the release of a long-awaited leasing schedule that includes a maximum of three sales in the Gulf of Mexico through 2029.The Interior Department's plan includes by far the lowest number of sales since the agency began producing Congressionally-mandated five-year oil and gas leasing schedules in 1980. Previous programs have ranged between 11 and 41 sales, according to Interior's U.S.
Joint Venture to Develop First LNG Ship Bunkering Hub in US Gulf
A joint venture is developing the first dedicated liquefied natural gas (LNG) bunkering facility for ships in the U.S. Gulf amid efforts by the maritime industry to find cleaner fuel solutions, executives said on Thursday.Shipping, which accounts for nearly 3% of global CO2 emissions and is under pressure from investors and environmental groups to accelerate decarbonisation, is exploring a number of other technologies including ammonia…
US Navy Destroyer Jack H. Lucas Departs Ingalls Shipbuilding
The U.S. Navy's first Flight III Arleigh Burke-class guided-missile destroyer Jack H. Lucas (DDG 125) departed HII’s Ingalls Shipbuilding division Tuesday. DDG 125 will be commissioned October 7, 2023 at a ceremony in Tampa, Fla., before sailing to its homeport in San Diego.“Watching Jack H. Lucas sail away is a proud moment for our entire DDG shipbuilding team,” Ingalls Shipbuilding DDG Program Manager Ben Barnett said.
Shipping Industry Has No Easy Path Toward Decarbonization
The shipping industry lacks clarity on future clean fuels and regulatory systems which is holding back companies from replacing ageing vessels amid pressure to decarbonise faster, U.N. agency UNCTAD said on Wednesday.Shipping, which transports over 80% of world trade and accounts for nearly 3% of the world's carbon dioxide emissions, has faced calls from environmentalists and investors to deliver more concrete action, including a carbon levy."We call for global action to decarbonise shipping.
Philippines Condemns Chinese 'Floating Barrier' in South China Sea
The Philippines on Sunday accused China's coast guard of installing a "floating barrier" in a disputed area of the South China Sea, saying it prevented Filipinos from entering and fishing in the area.Manila's coast guard and Bureau of Fisheries and Aquatic Resources "strongly condemn" China's installation of the barrier in part of the Scarborough Shoal, Commodore Jay Tarriela, a coast guard spokesperson…
Value Maritime Installs First Filtree System for Ardmore Shipping
Value Maritime announced it has completed the first in a series of nine installations of its emissions reducing Filtree systems for product and chemical tanker company Ardmore Shipping Corporation.Taking place in China, this was the first time that Value Maritime has installed its system outside of Europe. The Ardmore Seaventure is also the first Ardmore vessel now fully equipped with Value Maritime’s Filtree system.