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US Sanctions Two Tanker Owners for Carrying Russian Oil Above Price Cap
The U.S. on Thursday imposed the first sanctions on owners of tankers carrying Russian oil above the G7 price cap of $60 a barrel, one based in Turkey and one in the United Arab Emirates…
Inland Waterways: US Making Progress on Infrastructure
The United States’ vast network of navigable inland rivers is vital to the nation’s economy, serving as an aquatic superhighway for the efficient shipment of critical commodities like agricultural goods, energy products, building materials and industrial chemicals to destinations within the U.S. and to deepwater ports for export. The Waterways Council, Inc. (WCI), which advocates for a modern, efficient and well-maintained inland waterways…
Dogger Bank Produces First Power
The first phase of the Dogger Bank Wind Farm has started exporting electricity to British consumers.The 3.6GW Dogger Bank Wind Farm is being constructed in UK waters 70 nautical miles (130 kilometers, 80 miles) off the coast of Yorkshire in the UK’s North Sea in three 1.2GW phases known as Dogger Bank A, B and C.Dogger Bank will occupy an area almost as large as Greater London and nearly twice the size of New York City.
Unmanned Surface Vessel Set to Transform Subsea IMR & Offshore Survey Work
Subsea services company DeepOcean and the Norwegian oil and gas company Aker BP have agreed to "pioneer" the use of an unmanned surface vessel (USV) for subsea inspection, maintenance, and repair (IMR) and survey work.The first USV is planned to be ready for offshore operations from 2025, when it will go on an eight-year charter agreement with DeepOcean from specialist provider USV AS."Aker BP and DeepOcean already cooperate under a frame agreement for subsea IMR and survey work…
Israel's Ashkelon Port Shut Down
Israel's port of Ashkelon and its oil terminal have been shut in the wake of the conflict between Israel and Islamist group Hamas, shipping and trade sources said on Monday.The port is located just over 10 kilometers (sox miles) from the border with the Gaza Strip.
Italian Authorities Seize Spanish Charity's Vessel After Multiple Migrant Rescues in the Mediterranean
Italian authorities have impounded a vessel operated by a Spanish charity, the group said on Thursday, after it carried out multiple rescues of migrants stranded…
U.S. Interior Secretary Deputy Beaudreau Bids Farewell
U.S. Deputy Interior Secretary Tommy Beaudreau is stepping down from his role at the end of October, the Interior Department said in a statement on Wednesday, without giving a reason for his departure or saying how the vacancy would be filled.The Washington Post reported earlier Beaudreau was leaving after two years in the number two spot and a total of 10 years at the agency to spend more time with family.Earlier this year…
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…
Gulf Island Settles Lawsuit with Hornbeck Offshore Over MPSV Dispute
Gulf Island Fabrication said Thursday that its subsidiary, Gulf Island Shipyards, had resolved its lawsuit with the U.S. offshore vessel operator Hornbeck Offshore Services relating to the construction of two multi-purpose supply vessels (“MPSV”).Gulf Island Shipyards (GIS) sued Hornbeck Offshore in 2018over what it said was the wrongful termination of two shipyard construction contracts for the final…
Baltic Index Ticks Down as Panamax Losses Outweigh Capesize Gains
The Baltic Exchange's main sea freight index edged down on Wednesday, as panamax rates hit a three-week low, offsetting a rise in capesize vessel rates.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, edged down by 2 points to 1,778.The capesize index added 28 points, or about 1%, to 2,801 - its highest level in more than a year.Average daily earnings for capesize vessels which typically transport 150…
Ship Recycling Industry Expecting Fourth Quarter Boost
Despite the impending onset of various holidays at ship recycling destinations, India is poised to give sub-continent markets a boost as the industry heads into the fourth quarter.“While Indian aggression may ease up a touch as Diwali holidays descend, it is expected that Pakistan, and perhaps even a decidedly lackluster Bangladesh, may eventually step up in the weeks and perhaps even the final few months leading into 2024, helping secure any of the remaining unsold tonnage, or fresh ones that m
Shipshave Scoops Award for In-Transit Hull Cleaning Solution
Shipshave has won the Most Innovative Proven Technology Award in the inaugural SNIC Innovation Awards for its in-transit hull cleaning solution that removes biofouling to boost fuel efficiency and decarbonization.The prize was handed out at the Singapore Norway Innovation Conference (SNIC) 2023, with the theme Innovate to Zero, that is hosted annually in Singapore by the Norwegian Business Association…
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…
Higher Capesize Rates Drive Baltic Index Higher
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, aided by firm capesize rates. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, snapped a two-session losing streak after rising by 36 points, or 2.1%, to 1,737. The capesize index added 136 points, or 5.5%, to hit 2,610- its highest level in nearly five months.
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.
Inmarsat Report Identifies Deficiencies in Safety Culture
The 2023 edition of The Future of Maritime Safety Report from Inmarsat Maritime, a Viasat business, reveals that the number of distress calls from ships at sea remains high, despite a continuing decline in vessel losses. The new report, which analyses Global Maritime Distress and Safety System information captured by Inmarsat, registered 853 distress calls from January to December 2022 – up from 794…
Russia Hits Ukrainian Port Facilities
Ukrainian officials said Russia struck Ukrainian port infrastructure and grain storage facilities on Tuesday, but also reported some progress on the front lines in the three-month old counteroffensive by its forces.President Volodymyr Zelenskiy spoke of "good details" from the front without further explanation and said Ukraine clearly understood where to apply pressure to make it felt in Moscow."Sanctions are not enough.
Next-Gen Naval Defense: Laser Weapon System Takes Aim at Drones, Missiles and More
Laser Weapon Demonstrator (LWD) trials onboard the German frigate Sachsen have successfully been completed, following on from the integration of the LWD in June 2022, MBDA, a multi-national European group specializing in the field of complex weapon system.The High-Energy Laser Naval Demonstrator Working Group (or ARGE), consisting of MBDA Deutschland GmbH and Rheinmetall, is responsible for development and construction of the LWD…
Singapore Reigns Supreme in International Shipping Center Development Index
For the 10th year in a row, Singapore ranks first in the Xinhua-Baltic International Shipping Center Development Index (ISCDI) Report.Published jointly by the Chinese state news agency, Xinhua and global maritime data provider Baltic Exchange, the report lists Singapore as the global leading maritime center, followed by London and Shanghai.The island nation scored 95.32 out of a possible 100 points…
Longline Fishing Company Successfully Trials Whale Depredation Solution
Norway/Uruguay-based Pesquera Azul’s has successfully trialed an innovative catch protection cage in whale-rich waters in the southern Indian Ocean. The company says it is a potential game-changer for the longline fishing industry as it grapples with the challenge of whale depredation.The steady increase in the whale population in sub-Antarctic fishing grounds is hampering the longline fishing industry, especially for fatty fish species.