Morgan News

Kongsberg Maritime has secured a contract with Ulstein Verft for the supply of an extensive equipment package for four wind farm commissioning service operation vessels (CSOV), two for Bernhard Schulte Offshore and two for J.P. Morgan Asset Management.The 90-meter vessels are being built at Ulstein Verft, to the ULSTEIN SX222 design. Kongsberg Maritime will supply the same range of equipment to all four vessels.Bernhard Schulte Offshore Orders Two Ulstein CSOVsUlstein Inks Deals…

Angela Chao, chair and CEO of the Foremost Group, has died in a car accident, the New York-headquartered dry bulk shipping company announced on Monday.Angela Chao was an experienced and well-respected shipping executive, having worked her way up through several leadership positions at the company founder by her father, Dr. James S.C. Chao, with her mother, the late Ruth Mulan Chu Chao, in 1964.Before joining Foremost Group in 1996, Angela Chao worked in the mergers and acquisitions department of Smith Barney…

Maersk warned on Thursday that container shipping overcapacity would hit profits more than expected this year and that it didn't see a major boost from the jump in freight rates due to Red Sea disruptions, hammering its shares.The warning, which also led the Danish shipping giant to suspend its share buyback programme, is in stark contrast with investors' recent optimism about the sector.Container shipping companies have been among the best-performing stocks in Europe this year…

Paducah, Ky. headquartered Crounse Corporation announced it has taken delivery of a new 6,034-horsepower towboat built by Conrad Shipyard, based in Morgan City, La.The 166- by 48- by 12-foot Alice is named after the company’s first vessel that began operating in 1949. Delivered with a U.S. Coast Guard Certificate of Inspection for Subchapter M compliance and two EPA Tier 4 compliant main engines, the newbuild is one of the most efficient and environmentally-friendly vesselsoperating on the United States' inland waterway system.Alice and powered by two General Electric (GE) diesel engines…

Maersk’s offshore vessel-charging venture Stillstrom has launched a collaborative study with EnBW and BP, the developers of the Morgan and Mona offshore wind farms, to assess the viability of integrating offshore charging solutions for service and crew transfer vessels for the two projects.The study will evaluate the operational, technical, and economic viability of integrating offshore charging solutions for Service Operation Vessels (SOVs) and Crew Transfer Vessels (CTVs) into…

Norwegian shipbuilder Ulstein Verft has signed contracts with J.P. Morgan Asset Management for offshore wind Construction Service Operation Vessel (CSOV) newbuilds.In 2023, Bernhard Schulte Offshore ordered the design and construction of two such vessels from Ulstein under a contract which included options for two plus two vessels.These options have been transferred to institutional investors advised by J.P. Morgan Asset Management, who declared the first two.The CSOVs will be…

The Greater Houston Port Bureau Board of Directors announced Vincent DiCosimo, vice president of government affairs at Targa Resources, will assume the position of the chairman of the board on January 1, 2024. DiCosimo has served as first vice chairman on the Port Bureau’s board for the last three years.Bernt Netland, the outgoing chairman of the Port Bureau Board said, “Vincent has been a part of the Port Bureau’s board for many years and has been active in his role as vice chair. He is an experienced and respected leader in the port region.

The November edition of Marine News magazine highlighted a selection of the most notable American newbuilds delivered of 2023—from a first-of-its-kind green towboat, to the lead vessel in a series of game-changing ships to train U.S. mariners.Empire StateAs the lead vessel in a series of five new training ships being constructed to serve America's state maritime academies, Empire State is easily one of the most important U.S.-built vessels delivered in recent memory.Built by Philly Shipyard for the U.S.

The Great Lakes Towing Company (GLT) announced it has acquired a 62-year-old fireboat from the city of Cleveland, Ohio.The vessel, Anthony J. Celebrezze, was constructed in 1961 by Paach Marine in Erie, Pa. and was used by the Cleveland Fire Department until it was replaced with a new vessel, Garret A. Morgan, in June 2023 and put up for auction.Auction data shows the vessel was sold on November 14 for just over $41,000, including a 12.5% buyer's premium.GLT said its Great Lakes Shipyard division is very familiar with the Anthony J.

U.S. liquefied natural gas (LNG) producers ramped up exports in October, to 7.92 million metric tons, according to data provider LSEG, the second-highest monthly level on record.Exports were just shy of the record 8.01 million metric tons in April this year, and were up from 7.12 million metric tons in September, when plant maintenance reduced U.S. production.The U.S. was the world's largest exporter of LNG in the first half of this year, according to the Energy Information Agency, ahead of Qatar and Australia.

Bellingham, Wash. boatbuilder All American Marine (AAM) has launched the newly built research vessel Gannet for NOAA Gray’s Reef National Marine Sanctuary (GRNMS).The newbuild is a 52- by 19-foot semi-displacement aluminum catamaran hull that was developed by Nic de Waal of Teknicraft Design in Auckland, New Zealand. The vessel is based on the proven design elements found in the recently commissioned research vessel Storm Petrel, built for NOAA’s Olympic Coast National Marine…

The Israel-Hamas war has raised the spectre of a wider regional conflict which could embroil Iran and other regional factions.Analysts and market observers say the conflict could prompt the United States to tighten sanctions on Iran, which may spur Tehran to take retaliatory action against ships in the Strait in Hormuz.The Marshall Islands registry, one of the world's top shipping flags, last week flagged that vessels with links to Israel or the United States may face a heightened threat of attack within Israeli territorial waters…

Houston-based dredging contractor Great Lakes Dredge & Dock Corporation announced it has taken delivery of the Cape Hatteras and the Cape Canaveral, the two Damen 3013 Multi Cats built by Conrad Shipyard in Morgan City, La.“This is a milestone for our company and the U.S. dredging industry,” said Chris Gunsten, Great Lakes’ senior vice president of project services and fleet engineering. “The Multi Cat brings step change safety improvements to Great Lakes’ dredge pipeline operations, which was a prime driver for the investment.

Russia said on Sept. 21 that it had temporarily banned gasoline and diesel exports to all but four ex-Soviet states in response to domestic shortages, a move that will disrupt global trade that has already had to adjust to Western sanctions on Russian fuel exports.Russia eased some of the restrictions on Sept. 25, saying it would allow the export of bunkering fuel for some vessels and diesel with high sulphur content. The government has yet to give a timeline for any further easing…

The U.S. Department of Transportation’s Maritime Administration (MARAD) awarded nearly $12 million in grants to eight marine highway projects across the nation under the United States Marine Highway Program (USMHP). The funding will improve the movement of goods along our navigable waterways and expand existing waterborne freight services in Alaska, Illinois, Indiana, Louisiana, Texas, Washington, and Wisconsin, which will strengthen supply chains and ultimately cut costs for consumers.“Our country has always relied on American waterways to get vital goods where they need to go,” said U.S.

Gulf Coast shipbuilder Conrad Shipyard was awarded a contract to build a new steel spud barge for the U.S. Army Corps of Engineers.Conrad was the sole bidder for the contract, which was awarded by the Corps' Philadelphia district. Under the $9,106,800 firm-fixed-price award, Conrad will design, construct, test, and deliver the new barge.Work will be performed in Morgan City, La., with an estimated completion date of April 14, 2025.

Captain Morgan McManus will serve as the Ship’s Master on the Empire State VII, the first in a series of five National Security Multi-Mission Vessel (NSMV), which at press time was getting its post-sea trial finishing touches at Philly Shipyard. The project to design, build and deliver the NSMV series is one of the most exciting shipbuilding programs in the U.S. – a government shipbuilding project leveraging commercial shipbuilding efficiencies. For insights, we visited with Captain McManus to discuss the ship, it’s technology suite and its role in helping to educate a new generation of U.S.

Kinder Morgan KMI.N on Wednesday said its Port Manatee, Port Sutton and Tampaplex terminals in Florida sustained minimal damage due to Hurricane Idalia, and that it was also planning to shut its Charleston area terminals later in the day.The U.S. energy company said it was planning to reopen the terminals on Thursday, while its Tampa facilities including the Tampa refined products terminal and Central Florida Pipeline system have resumed normal operations.The Port Manatee, Port Sutton and Tampaplex terminals handle commodities such as fertilizers…

Morgan Stanley's infrastructure investment arm is teaming up with U.S. maritime, energy and logistics solutions company Crowley to advance offshore wind energy solutions for the United States.Investment funds managed by Morgan Stanley Infrastructure Partners (MSIP), a private infrastructure fund platform within Morgan Stanley Investment Management (MSIM), will hold a majority stake in Crowley Wind Services Holdings, a joint venture combining Crowley's end-to-end maritime and logistics capabilities with the financial strength and expertise of Morgan Stanley.

Kinder Morgan's shipping arm, American Petroleum Tankers, has been awarded a $28,548,000 charter contract option for one of its MR tankers, Empire State.The U.S. Department of Defense (DOD) announced the deal earlier this week, stating the option is the third of the current contract, which includes a 12-month base period with three 12-month options and one 11-month option. If all options are exercised, work would run through July 23, 2025, and the cumulative value the deal would be $136,560,500. The 600-foot Empire State is being used in support of the U.S.

The international shipping industry as a whole is responsible for 2% to 3% of global greenhouse gas emissions, and if nothing changes, those will increase by 250% by 2050, according to the International Maritime Organization (IMO). Sobering numbers like these have made reducing emissions across the sector a focus for governments, shipbuilders, environmentalists, vessel owners and technology suppliers alike.The United States federal ship fleet, excluding combat ships, consists of various types of vessels utilized for civilian purposes. This fleet of vessels makes the U.S.

The U.S. Navy has exercised an option to order an additional Yard, Repair, Berthing, and Messing (YRBM) barge from Morgan City, La. based Conrad Shipyard. Work will be performed in Amelia, La. and is expected to be completed by March 2025. The $18,293,952 firm-fixed-price modification follows a previously-awarded contract for the detail design and construction of up to eight YRBM barges.The YRBM barge is an ABS A1 Accommodation Barge with a 151’-4” x 49’-4” x 14’ footprint. The vessel provides pier side living accommodations capable of berthing 199 mixed gender personnel…

Offshore oil and gas exploration spending will increase more than 20% globally this year and the growth will continue into the next, oilfield services firm SLB said on Wednesday."Offshore is experiencing a renaissance, with significant breadth and anticipated durability," SLB Chief Executive Olivier Le Peuch said at the JP Morgan Energy Power and Renewable Conference, according to a draft of the speech posted on the company's website.SLB, the world's largest oil services and equipment provider, said it expects to see a long tail of activity with 65 lease rounds concluding globally this year, i