Emergency Dredging Planned for the Murderkill River
An emergency dredging project is set to begin and be completed by the end of August to restore navigability in the Murderkill River, the Delaware Department of Natural Resources and Environmental Control announced on Tuesday. Permitted by and with modification approvals from the U.S. Army Corps of Engineers and DNREC regulators, the project calls for removing approximately 52,000 cubic yards of sediment from the river’s navigation channel.
Master Boat Builders to Construct New Tug for Suderman & Young
Master Boat Builders, Inc. on Wednesday announced it has executed a contract to build a new tugboat in its Coden, Ala., yard for Suderman & Young Towing Company of Houston, Texas. Master Boat Builders currently has three tugs under construction of a different design for Suderman & Young.Naval architect and marine engineering firm, Robert Allan Ltd. designed the tugboat, which will meet U.S. Coast Guard…
Fincantieri to Cut Debt, Focus on Core Business After H1 Loss
Italian shipbuilder Fincantieri on Wednesday vowed to lower its debt in the coming months by delivering new cruise ships, after reporting a first half net loss of 234 million euros ($237 million).Chief Executive Pierroberto Folgiero, who took over earlier this year from long-serving predecessor Giuseppe Bono, said the company would focus on its core business in order to reap benefits from expected growth in defense spending and a post-pandemic recovery in the cruise market.Intesa Sanpaolo analys
Saipem Confirms Targets After Return to Core Profit
Italy's Saipem on Wednesday confirmed its 2022 guidance and the targets in its business plan after the energy services group reported a first-half adjusted core profit of 321 million euros ($325 million).Investors this month agreed to fund only 1.4 billion euros of a life-saving 2 billion euro cash call, leaving the underwriting banks to mop up the remaining new shares.
Ukraine Working to Prep Black Sea Ports for Grain Exports
Ukraine's navy confirmed on Wednesday that work had started at three Ukrainian Black Sea ports aimed at preparing for the resumption of grain exports."In connection with the signing of the agreement on the unblocking (by Russia) of Ukrainian ports for the export of grain, work has been resumed in the ports of Odesa, Chornomorsk and Pivdeny," the navy said on Facebook."The departure and arrival of ships to seaports will be carried out by forming a caravan that will accompany the lead ship."(Reute
Kelleher to Succeed Tivnan as Ardmore Shipping CFO
Tanker owner/operator Ardmore Shipping Corporation on Wednesday announced the planned departure of its current chief financial officer Paul Tivnan and appointment of new CFO Bart Kelleher…
Floating Oil Storage Stacks up in the Singapore Strait
The number of tankers used for storing fuel oil along the Singapore Strait has risen since the Ukraine war broke out and could rise further as more of Russia's supplies hit by sanctions head to Asia, industry sources and analysts said.A rise in floating storage supply along the strategic waterway is an indicator that more supplies are available to Asia, which will help ease tight markets. But, at the same time…
Attention Turns to Extra Large Unmanned Underwater Vessels
In August, 2021, after years of delays, cost overruns, and rising tensions, the Australian government canceled a A$90 billion order with France’s Naval Group for 12 conventionally powered submarines intended to replace the Royal Australian Navy (RAN)’s aging fleet of six Collins-class attack subs. Overnight, the future of the RAN’s undersea warfare capability was cast into uncertainty. The very next month…
From Surface to Subsea to Space: U.S. Navy Shipbuilding Outlook 2022
As a rudderless U.S. Navy debates maritime strategy, fleet futures and platform performance, America’s naval shipbuilding industry can look forward to another year of relative stasis.Barring a major geopolitical incident or unexpected maritime provocation, government shipbuilding isn’t going to change course. With Admiral Michael Gilday approaching the final “lame duck” year of his four-year term as Chief of Naval Operations and the 2024 election season looming…
Tech File: Smartgyro Stabilization for Diverse Marine’s Hydronaut Vessels
A new 18-m craft for the Nauticus robotic navy fleet will be fitted with Smartgyro’s SG80 units for roll reduction in manned and unmanned operations.Golden Arrow Marine is supplying Smartgyro SG80 gyroscopic stabilization units to Cowes boatbuilder Diverse Marine for installation on its new 18-m Hydronaut vessels for Houston-based Nauticus Robotics.The Smartgyro SG80 is innovative in that it can be serviced…
IMI, Hyundai Heavy Industries Expanding Shipbuilding Partnership
International Maritime Industries (IMI), the largest shipyard in the MENA region, has expanded its partnership with Hyundai Heavy Industries (HHI) through a technical service agreement to further enhance its shipbuilding capabilities.Under the agreement, HHI will provide technical assistance and consulting services in Very Large Crude Oil Carrier (VLCC) engineering to IMI, reflecting its commitment…
Greek High Court Rules to Return Confiscated Oil Cargo
An Iranian-flagged tanker anchored off Piraeus port is expected this week to retrieve part of its cargo which was confiscated by the United States and sail back to Iran, following a Greek top court ruling, government sources said on Wednesday. The case has strained relations between Athens and Tehran amid growing tensions between Iran and the United States.The removal of oil from the Lana, formerly Pegas…
US Navy Boost Aspirations for Unmanned Fleet
The U.S. Navy sees its future fleet comprised of more than 350 manned ships and about 150 unmanned ships hoping technology means lower operating costs as it prepares to counter a growing Chinese fleet, according to a Navy report released Tuesday.The plan for the 2040s and beyond underscored "the need to address long-term competition with China and sustain military advantage against Russia". It forecasts…
Port of Redwood City Commissioner Dodge to Retire
Richard Dodge, Commissioner of California's Port of Redwood City, announced he will be retiring at the end of July, after 42 years of port service. Dodge was originally appointed to the Board of Port Commissioners in 1980. His service is one of the longest port commissioner tenures in the United States.“I am grateful for the opportunity to serve the Port of Redwood City over the past 42 years in various Port Commissioner roles,” Dodge said.
Asian Investors Bet on Haifa Port as Israel Draws Closer to Arab Gulf
The city of Haifa is set to become an increasingly significant east Mediterranean shipping hub, with Chinese and Indian firms buying into its ports as Israel normalizes ties with its Gulf Arab neighbors under a U.S. diplomatic push.Earlier this month, as U.S. President Joe Biden visited the Middle East, India's largest port developer Adani Ports and Israeli minority partner Gadot agreed to buy Haifa Port for 4.1 billion shekels ($1.18 billion).Its founder…
Cashman Equipment Corp Awarded ISO 9001:2015 Certification
Cashman Equipment Corp. (CEC), global provider of ocean deck barges and marine equipment, has been awarded ISO Certification for its systems and processes under ISO 9001:2015. CEC’s ISO 9001:2015 certificate (#US017132) was issued by Bureau Veritas Certification (BV).ISO 9001:2015 is a globally recognized quality management standard developed and published by the International Organization for Standardization (ISO).
First Foundations Installed at World's Largest Offshore Wind Farm
The first monopile and transition piece have been installed at the Dogger Bank Wind Farm in the U.K. North Sea, marking a key milestone for the construction of the world's largest offshore wind farm.The foundations, designed by Wood Thilsted, are up to 72m in length, weigh on average 1057 tonnes and include the world’s largest 8m offshore wind flange. The design includes the world’s first split-level transition piece for safe installation and operation…
Baltic Dry Index Dips to Two-week Low
The Baltic Exchange's main sea freight index fell to a nearly two-week low on Tuesday as rates across its vessel segments declined.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 53 points, or 2.5%, to 2,061 points, the lowest since July 14.The capesize index fell for the second straight session, losing 141 points, or 5.4%, to 2,455 points, a near two-week low.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes
Merchant Vessel Loses Power in Somali Waters
A merchant vessel was towed to safety after losing power in heavy seas off the coast of Somalia.On July 19, the EU's counter-piracy forces EU NAVFOR ATALANTA received a request for assistance from the Somali Ministry for Foreign Affairs and International Cooperation after the Tanzania-registered merchant ship Anatolian suffered a complete propulsion and power plant failure, and was without food or fresh water.
Rolls-Royce Names Erginbilgic CEO
Rolls-Royce named former BP executive Tufan Erginbilgic as its new chief executive to replace outgoing boss Warren East, a move analysts say will help drive profits at the British engine maker.East, whose seven years at Rolls were marked by costly troubles with the blades on its engines and the COVID-19 pandemic, will step down at the end of this year, with Erginbilgic taking over on Jan.
