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US Import Cargo Peak Came Later Than Expected -Report
Inbound cargo volume at the United Statesâ major container ports should continue to slow in the final weeks of 2023 after reaching its peak later than expected this fall, according to the Global Port Tracker report recently released by the National Retail Federation and Hackett Associates.âWe originally thought peak season would come in August but imports kept growing in September and again in October,â NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.
US Issues Sweeping Sanctions Targeting Russia Over Ukraine War
The United States on Tuesday imposed sanctions on hundreds of people and entities, including in China, Turkey and the United Arab Emirates, as it targets Russia's sanctions evasion, future energy capabilities, banks and its metals and mining sector.The U.S. Treasury and State departments targeted more than 250 individuals and entities in Washington's latest action attempting to crack down on Russia and its evasion of sanctions imposed by the U.S.
Plans in Progress for New North Sea Wells
Esgian has published its Week 49 Rig Market Roundup highlighting new drilling activity in the North Sea and a new licensing deal in Morocco.Drilling Activity and DiscoveriesSerica Energy is continuing with plans for its four-well drilling campaign in the UK North Sea, scheduled for 2024 and early 2025. The campaign will be carried out using the semisubmersible COSLInnovator. All four wells are production wells.
Panama Canal Woes to Delay Grain Ships well into '24
Bulk grain shippers hauling crops from the U.S. Gulf Coast export hub to Asia are sailing longer routes and paying higher freight costs to avoid vessel congestion and record-high transit fees in the drought-hit Panama Canal, traders and analysts said.The shipping snarl through one of the world's main maritime trade routes comes at the peak season for U.S. crop exports, and the higher costs are threatening to dent demand for U.S.
French Warship Shoots Down Two Drones Coming from Yemen
A French warship operating in the Red Sea has shot down two drones that were launched at it from the Yemen coast, the defence ministry said on Sunday.It said the multipurpose frigate Languedoc had intercepted and destroyed a first drone at around 9:30 p.m. local French time on Saturday, and a second one around 11:30 p.m.
OpEd: Shipping Seeks Safe Waters in Era of Deadly Geopolitics
As tankers, car-carriers and other merchant vessels pass through the Malacca Strait, unlit fishing boats criss-cross the shipping lanes at night, making it one of the most challenging sea areas of the world to transit, even during peacetime.Should a major war ever come to Asia, those challenges could be magnified spectacularly, with hundreds of vessels abruptly leaving the international waters in theâŠ
US Says Iran Helping to Plan, Execute Attacks on Ships in the Red Sea
The United States believes that Iran is involved in the planning and execution of drone and missile attacks by Yemen's Houthi group on Israel and ships in the Red Sea, a senior aide to U.S. President Joe Biden said on Thursday.The comments by deputy White House national security adviser Jon Finer are among the most explicit to date by a U.S. official alleging Iranian involvement in the Houthi attacks.Finer spoke hours after the United States imposed new sanctions aimed at throttling what U.S.
The Curious Case of the 1,200 MW Transmission Size âLimitâ in New England
How the Maximum Contingency of 2,200 MW Was Recast to a 1,200 MW CeilingAs policy makers and energy developers look to develop and interconnect large offshore wind projects in the most economically efficient and least environmentally impactful way, an issue has developed. A relatively recent limit, set in place by the grid operator in New England in a planning process document, states that no single system loss of energy, or âcontingencyâ, can be larger than 1,200 megawatts (MW).
Saudi Arabia Urges US Restraint as Houthis Attack Ships in Red Sea
Saudi Arabia has asked the United States to show restraint in responding to attacks by Yemen's Houthis against ships in the Red Sea, two sources familiar with Saudi thinking said, as Riyadh seeks to contain spillover from the Hamas-Israel war.The Iran-aligned Houthis have waded into the conflict that has spread around the Middle East since war erupted on Oct. 7, attacking vessels in vital shippingâŠ
IMO Adopts Tougher Resolution to Tackle Illicit 'Shadow' Fleet
The United Nations' shipping agency on Wednesday adopted a resolution targeting illicit shipping practices from the so-called unregulated "shadow fleet" in an effort to clamp down on unsafe activities at sea.There are hundreds of ageing oil tankers that form part of a parallel fleet of vessels transporting oil including for Russia, which has been hit by Western sanctions but also the enforcement of Group of Seven regulation that caps the price of Moscow's oil exports at $60 with penalties impose
"AI is the Game Changer"
Austal USA Advanced Technologies is working with the US Navy on technical solutions that will power the next-gen of navy assets. Don Hairston recently took the helm of the AAT team, and discusses how additive manufacturing and artificial intelligence are powering the future of naval asset design, construction and lifecycle maintenance.Don, what specifically attracted you to the position as GM of Austal USA Advanced Technologies?I liked Austal USA as an up-and-comerâŠ
New Wave Data Underpins Ship Structural Integrity
The loss of the Stellar Daisy in 2017 was a tragic reminder of the importance of wave data to ship design and operation. The vessel sank in the South Atlantic Ocean, with 22 of 24 crewmembers lost. The structural failure of the vessel was attributed to several factors including material fatigue and the forces imposed on the hull as a result of the weather conditions.Survey requirements for some vessel types have since been tightenedâŠ
COP28: US Cracking Down on Methane from Oil and Gas
The Biden administration on Saturday unveiled final rules aimed at cracking down on US oil and gas industry releases of methane, part of a global plan to rein in emissions that contribute to climate change.The rules, two years in the making, were announced by US officials at the United Nations COP28 climate change conference in Dubai. The US and other nations attending the summit are expected to detailâŠ
Houthis Attack Commercial Ships, US Warship in the Red Sea
The Pentagon said it was aware of reports regarding attacks on an American warship and commercial vessels in the Red Sea on Sunday, as Yemen's Houthi group claimed drone and missile attacks on two Israeli vessels in the area."We're aware of reports regarding attacks on the USS Carney and commercial vessels in the Red Sea and will provide information as it becomes available," the Pentagon said.Yemen's Houthi movement said its navy had attacked two Israeli shipsâŠ
Banga Takes Hong Kong Shipowners Association Helm
Angad Banga of the Caravel Group was elected as new Chairman of the Hong Kong Shipowners Association (HKSOA). He succeeded Wellington Koo, of Valles Steamship Co., Ltd, who stepped down after completing his two-year term as Chairman of the HKSOA.Banga has also taken over the Chairmanship of Asian Shipownersâ Association (ASA) at the same time. Bangaâs tenure as Chairman of ASA will come to an end on the day of ASAâs next AGM to be held in Hong Kong on 28 May 2024.
Maintenance Error Led to Chemical Tanker Engine Room Fire
A maintenance error caused an engine room fire aboard the Endo Breeze last year, resulting in $1.2 million in damages, a National Transportation Safety Board (NTSB) analysis has shown.On April 29, 2022, the Endo Breeze was transiting outbound through the Raritan Bay West Reach channel near Staten Island, New York, when oil spray from a fuel injector pump on the starboard main engine ignited off nearby hot surfaces, causing a fire.
Report: Options for Retrofitting Ro-Pax with Hydrogen Propulsion Analyzed
BMT and PA Consulting have explored the feasibility of retrofitting medium-sized Ro-Pax ferries with hydrogen propulsion and storage technology.The resulting white paper assesses the economic and technical feasibility of retrofitting existing vessels with hydrogen propulsion systems, presenting three retrofit alternatives with varying complexity, hydrogen demand and costs. These options involve dual-fuel engines with compressed gaseous hydrogen storageâŠ
OPEC+ Prepares for 2024 Demand Uncertainty
Speaking after the November 30 OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: âThe decision by OPEC+ to continue with its previously announced production cuts and Saudi/Russia to extend their voluntary production cuts to the end of Q1 2024 is not a surprise, given current pricing and the uncertainty in the market over the strength of the global economy and oil demand growth.
bp's Search for New CEO to Extend into Next Year
bp's search for a new chief executive is set to extend into the first quarter of 2024, three sources told Reuters, while the board's probe into whether previous CEO Bernard Looney breached the code of conduct in his undisclosed personal relationships with staff drags on.The oil company has been in turmoil since Looney's resignation in September, company sources told Reuters, and the share price hasâŠ
FINLAND: âA Birthplace for Icebreakersâ
Finnish companies have designed about 80 percent of the worldâs icebreakers, and about 60 percent of them have been built by Finnish shipyards.Finland is home to a strong and vibrant maritime cluster, with a mix of large, medium and small shipyards, as well as a deep pool of marine engineering expertise and a broad network of vessel equipment suppliers.As one of the worldâs northernmost countries,âŠ