As Big Oil Pushes into Offshore Wind, Seabed Lease Prices Will Rise
The world's largest offshore wind developer Orsted is concerned that Big Oil's eagerness to harness wind at sea could push up prices for seabed leases, making the technology less competitive, its chief executive told Reuters.European oil firms including Total, BP, Equinor and Shell have all outlined plans to speed up investments in renewables, including offshore wind, as they look to reduce their reliance…
Odfjell’s WindGrid Floating Wind System Passes Milestone, Aims to Help O&G cut Emissions
DNV completed a concept verification review of Odfjell Oceanwind’s WindGrid (WindGrid) system for Mobile Offshore Wind Units (MOWUs). DNV’s review confirms the technical feasibility of the WindGrid system, and that expected reductions in CO2-emissions for North Sea applications are in the range of 60-70%, compared to generation of electricity from conventional gas turbines.Odfjell’s WindGrid is a solution…
$279m Royal Yacht a 'Good Idea'
The British government's plans to build a 200 million pound ($276.3 million) successor to the Royal Yacht Britannia, which was retired in 1997, are a good idea, Business Secretary Kwasi Kwarteng said on Monday."I think it is a good idea actually," Kwarteng told Sky, though he said there was still a discussion in government over the plans. "It's a huge amount of money.""What it does is it represents…
Maersk VC co-leads Funding Round in Egyptian Freight Logistics Start Up
Egyptian startup Trella, a digital platform connecting truckers with freight loads, has raised $42 million in equity and debt, including from the venture capital arm of shipping giant Maersk, its chief executive said.Founded three years ago in Cairo, Trella operates in Egypt, Saudi Arabia and Pakistan. It is one of several technology firms around the world seeking to upend traditional truck brokerages.Through Trella's online platform…
As Iran Eyes Return to Oil Trading, Storage at Sea Rises
Iran could quickly export millions of barrels of oil it is holding in storage if it reaches a deal with the United States on its nuclear program and has been moving oil into place to prepare for an eventual restart, four traders and industrial sources said.The U.S. and Iran began in mid-June their sixth round of indirect talks on reviving a 2015 nuclear deal that former U.S. President Donald Trump pulled out of in 2018.
Chinese Regulators Eye Irregularities in Spot Iron Ore Trading
China's state planner, the National Development and Reform Commission (NDRC), said on Monday it and the market regulator are jointly looking into the iron ore spot market and have pledged to crack down on hoarding and speculation.The move comes after NDRC said on Thursday that new rules on the management of price indexes for commodities and services will be effective Aug. 1 and will standardise price…
U.S. Coast Guard Welcomes New Vice Commandant
Adm. Linda L. Fagan has taken over as vice commandant of the U.S. Coast Guard, relieving Adm. Charles W. Ray during a military change-of-command ceremony held Friday at U.S. Coast Guard Headquarters.Adm. Fagan most recently served as the commander of the Coast Guard Pacific Area, overseeing all Coast Guard operations in the Pacific, covering more than 74 million square miles of ocean, from the U.S. Western States to Asia, and from the Arctic to Antarctica.“Adm.
New LNG Carrier Delivered to GasLog
Greek shipowner GasLog has taken delivery of a new 180,000m3 XDF liquefied natural gas (LNG) carrier, GasLog Wellington.The third in a series of four new vessels being built for GasLog by Samsung Heavy Industries in South Korea, the ship will go on long term charter to U.S.-based LNG exporter Cheniere.The newbuild features the latest technological developments in cargo containment, boil off gas management and propulsion, GasLog said.
Early-season Gulf of Mexico Storm Trims Some US Oil Production
The first storm to hit oil-producing regions of the U.S. Gulf of Mexico this year sent workers fleeing offshore oil platforms and cut some production.A weather disturbance in the central Gulf of Mexico was expected to become a tropical storm on Friday. It was moving north at about 14 miles per hour (22 kmh) and could bring up to 12-inches of rain to the central U.S. Gulf Coast by Saturday, the National…
Sutton Named Chief Information Officer at Newport News
America’s largest military shipbuilding company Huntington Ingalls Industries (HII) announced on Friday that Jason Sutton has been promoted to chief information officer for its Newport News Shipbuilding division, effective June 21.Sutton will be responsible for all aspects of information technology to enable Newport News to establish IT priorities and meet strategic objectives. Sutton will guide the day-to-day leadership of all information systems…
Wärtsilä Inks Services Deal with Nakilat
Wärtsilä said it has signed support agreements for liquefied natural gas (LNG) carriers owned by Qatar-based shipping company Nakilat.Wärtsilä is the supplier of the LNG reliquefaction systems onboard all of the QFlex vessels covered by the agreements, which were signed in April and are valid for five years. Under the contract terms, Wärtsilä will provide 24/7 technical remote support for the vessels’…
Magnolia Dredge and Dock Highlights DSC Dredge’s Commitment to Values
To ensure the high level of service that has defined this family-owned business for the past 30 years, DSC Dredge, LLC has five key values: commitment, quality, innovation, service and customization. This is what the foundation of DSC is built upon, and clients who become long-standing business partners and friends only confirms what this company strives to do each and every day.Magnolia Dredge & Dock LLC.…
Batteries Installed on Auckland's New Electric Tug
Damen Song Cam Shipyard in Vietnam recently installed the batteries aboard a fully-electric Reversed Stern Drive tug being built for New Zealand’s Ports of Auckland.In total, some 2,240 batteries, totaling 2,784 kWh, were installed. With this, the RSD-E Tug 2513, named Sparky, will carry out two or more berthing/unberthing operations with up to 70 tonnes bollard pull on a single charge. Following, it will take just two hours for the tug to recharge to its full capacity.For redundancy purposes…
Keel Laid For Future USS Cleveland (LCS 31)
Fincantieri Marinette Marine held a keel laying ceremony for the final Littoral Combat Ship (LCS) to be built in Marinette, Wis., the future USS Cleveland (LCS 31).The Freedom-variant LCS will be the fourth commissioned ship in naval service, since World War I, named after Cleveland. It will be the nation’s 31st LCS.“Our team at Fincantieri Marinette Marine is proud to celebrate the keel laying of the LCS 31 with the gracious citizens of Cleveland.
Baltic Dry Index Snaps Seven-session Winning Streak
The Baltic Exchange's main sea freight index snapped a seven-session winning streak on Friday as capesize rates declined, but was up for the second straight week.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, fell 49 points, or 1.5% to $3,218.The main index was up more than 12% for the week.The capesize index was down 183 points, or 4.3% at $4,029, also breaking a seven-session winning streak, but gained 20.4% for the week.Average daily earnings for capesize
US Coast Guard Decommissions Two Patrol Boats
After more than 30 years of active service, U.S. Coast Guard Island-class patrol boats USCGC Aquidneck (WPB 1309) and USCGC Adak (WPB 1333) were decommissioned in a ceremony aboard Naval Support Activity Bahrain, Tuesday.Vice Adm. Steven Poulin, commander of U.S. Coast Guard Atlantic Area, was in attendance to honor the years of service Aquidneck, Adak, and their crews, provided to the Coast Guard.“Thank you to every single crew member who has ever served aboard Aquidneck and Adak…
Siem Offshore Sells AHTS Duo to Reduce Debt
Norwegian vessel owner Siem Offshore has agreed to sell two anchor handling tug and supply vessels Siem Garnet and Siem Diamond.Siem Offshore said that the vessels…
Austal Delivers 11th Guardian-class Patrol Boat
Australian shipbuilding group Austal announced on Friday it has delivered the 11th Guardian-class Patrol Boat (GCPB) to the Australian Department of Defense. The vessel, the RKS Teanoai II, was then gifted by the Australian government to the government of the Republic of Kiribati during a ceremony at Austal Australia’s Henderson shipyard.The vessel is the first Guardian-class Patrol Boat to be delivered to Kiribati under the Pacific Patrol Boat Replacement Project (SEA3036-1)…
Stena Line Takes Delivery of RoPax Ferry Stena Scandica
Swedish ferry firm Stena Line has taken delivery of its RoPax ferry, Stena Scandica, the first of two Visentini vessels being lengthened and modernized by Stena RoRo at the Sedef Shipbuilding in Tuzla, Turkey. The Stena Scandica ferry will start operating on the Stena Lines route between Nynäshamn in Sweden and Ventspils in Latvia at the beginning of July.The conversion and lengthening of Stena Scandica…
Aker BP Awards 100-day Contract for PSV Viking Prince
Norwegian offshore vessel owner Eidesvik Offshore has secured a charter deal for its platform supply vessel Viking Prince.The 2012-built, LNG-powered platform supply…
