Hezbollah: 'No one' will Extract Gas From Maritime Zones if Lebanon Unable To do So
The head of powerful armed group Hezbollah warned on Wednesday that "no one" would be allowed to operate in maritime oil and gas fields if Lebanon was barred from its "rights" in extracting from areas off of its own coast."If you don't give us the rights that our state is asking for ... then we could flip the table on everyone," Sayyed Hassan Nasrallah said in a televised address."If you want to get to a formula where this country is barred from taking advantage (of these fields)…
Reach Subsea Takes Volstad's Deep Cygnus Vessel on a 4-year Charter
Subsea service provider Reach Subsea has chartered Volstad Maritime's offshore construction vessel Deep Cygnus for four years, with an option to extend for one year.The…
ConocoPhillips to Take 30% Stake in Sempra's Port Arthur LNG project
ConocoPhillips said on Thursday it would take a 30% equity stake in Sempra Energy's Port Arthur liquefied natural gas (LNG) plant in Texas, as the U.S. oil and gas producer expands its LNG business to meet soaring demand.Western sanctions on Russian fuel has choked an already undersupplied market and sent buyers scrambling for the heating fuel.
Harland & Wolff to Restore HMS Quorn Mine-hunter
Harland & Wolff's Appledore site in the UK's southwest has won a £55 million (around $65 million) contract to regenerate a former Royal Navy mine-hunting vessel, HMS Quorn. "On behalf of the Lithuanian Government, the Defence Equipment Sales Authority (DESA) awarded the contract that will see HMS Quorn renovated and restored, bolstering NATO maritime capability in Europe," the UK Ministry of Defence said Thursday."Supporting ambitions to bolster British shipbuilding…
Nord Stream 1 Pipeline Future Depends on Gas Demand and Sanctions, Russia Says
Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday that the future of the Nord Stream 1 gas pipeline to Germany would depend on gas demand in Europe and Western sanctions against Russia.The pipeline from Russia to Germany is undergoing annual maintenance until July 21, but European governments are worried that Moscow could extend that in order to restrict European gas supply, disrupting…
Wartsila Steps Up Green Fuel Push with Methanol-powered Ship
Marine and energy equipment maker Wartsila will roll out its first methanol-powered engine in a new ship next year as the group accelerates green fuel technology options for shipping, a company executive said.With about 90% of world trade transported by sea, shipping accounts for nearly 3% of the world's CO2 emissions, yet environmental campaigners say efforts by the sector to cut emissions by 2050…
U.N. Chief Hopes for Ukraine Grain Deal Next Week
U.N. Secretary-General Antonio Guterres said that an "important and substantive step" was made towards a comprehensive deal to resume Black Sea exports of Ukraine grain after talks between Russia, Ukraine, Turkey and U.N. officials on Wednesday."Next week, hopefully, we'll be able to have a final agreement.
Autonomous Cargo Ships and New Collision Regulations
The possibility now exists for ships to navigate the globe with no one at the helm. This capability has been demonstrated in the United States, Europe and Japan by autonomous workboats, survey vessels, and coastwise voyages by autonomous cargo vessels and ferries with the development of larger vessels capable of making trans-oceanic voyages coming soon. Despite this new reality, aside from a patchwork of voluntary best practices…
Strategic Marine Delivers Fast Crew Boat to Centus Marine
Singapore-based shipbuilder Strategic Marine has delivered a 42m Fast Crew Boat (FCB) to repeat client Centus Marine, the fourth vessel delivered to the offshore marine service provider in the last two years."The 42m FCB has been designed to meet the specific requirements of oil majors, its station-keeping and maneuvering capability have been enhanced with a tunnel thruster installed at the bow," the shipbuilder said .Powered by three Cummins KTA50 engines…
Maritime Training in the Philippines: Kongsberg Digital Sings MoU with MARINA
Norway-based Kongsberg Digital (KDI) and Maritime Industry Authority in the Philippines (MARINA) have signed a memorandum of understanding (MOU). According to Kongsberg, the MOU represents a significant milestone for innovation and transformation in maritime training in the Philippines,"Kongsberg Digital’s suite of simulation systems provides efficient and realistic training for maritime students and crew so building vital skills promoting safety…
Libya's Oil Chief Rejects Sacking, Says Govt Mandate Expired
The head of Libya's National Oil Corp (NOC) on Wednesday rejected the prime minister's authority to sack him, raising the prospect of an open struggle for control of the state energy producer.In a furious televised speech, Mustafa Sanalla said Prime Minister Abdulhamid al-Dbeibah's mandate to govern had expired and warned him not to touch NOC.An armed force deployed outside the NOC building later in the day, three witnesses said. One of them said the force was aligned with Dbeibah.
Maersk Wins Second U.S. Contract for Its Wind Turbine Installation Vessel
Danish offshore services company Maersk Supply Service has won its second offshore wind installation contract in the U.S. The company, best known for its offshore support vessels, in March ordered a wind turbine installation vessel, and won its first contract with Equinor and BP to install turbines at the Empire Wind project in the U.S.Now, Maersk Supply Service has won a deal to install the wind turbines at the Beacon Wind farm off the U.S.
HMM to Invest $11.5 Billion Over Five Years for Expansion
HMM Co Ltd, South Korea's largest container shipping company by sales, said on Thursday it plans to invest 15 trillion won ($11.46 billion) over the next five years to sharply increase its capacity.HMM plans to expand its shipping capacity to 1.2 million 20-foot equivalent units (TEU) from the current 820,000 TEU by 2026 and increase the number of bulk carriers to 55 from 29.
China's Exports Rebound, But Global Risks Darken Trade Outlook
China's exports rose at the fastest pace in five months in June as factories revved up after the lifting of COVID lockowns, but a sharp slowdown in imports, fresh virus flare-ups and a darkening global outlook pointed to a bumpy road ahead for the economy.Analysts say the rebound in exports reflected an easing of supply chain disruptions and port congestion that hammered the world's second-largest…
Mike Rodriguez to Complete Tenure as Interim Director of MITAGS
On August 1, Interim Director of MITAGS, Mike Rodriguez, will be returning to his position as a part-time MITAGS faculty member."Working as I have with everyone at MITAGS has been a great experience for me,” Rodriguez said. “The MITAGS West team are innovative. Our conference team is smart and determined. Our operations folks just make it happen every day. Our instructors are knowledgeable and dedicated.
ABT-TRAC, WESMAR and SmartCatch Form INOV8V Marine
Roger Fellows, owner of Western Marine Electronics (WESMAR), Arcturus Marine Systems (ABT-TRAC), and SmartCatch, announced Wednesday the formation of a new marine technology company…
Fairbanks Morse Launches Training and Service Center in Chesapeake
Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, is launching a 45,000-square-foot training and service center campus in Chesapeake, Va. The defense contractor will move its existing service center from Norfolk, Va., to the Chesapeake campus to add a state-of-the-art training facility and further expand advanced service support for its customers. The move represents…
Miller Boat Line Adds New Ferry Mary Ann Market
Ohio-based Miller Boat Line has taken delivery of its newest passenger and vehicle ferry Mary Ann Market from Fincantieri Bay Shipbuilding.The ferry left the Sturgeon Bay, Wis. shipyard on July 8 and arrived to her home port Put-in-Bay, on Ohio's South Bass Island, on July 10. The vessel is expected to enter service following its U.S. Coast Guard inspection later this month.The newbuild is named in honor of the company's late owner Mary Ann Market (1935-2010)…
Olympic Orders Up to Four CSOVs from Ulstein Verft
Norwegian shipbuilder Ulstein Verft AS said it has secured a contract from Norway-based Olympic to build two Construction Service Operation Vessels (CSOVs), with options for two additional vessels.The vessels, which are based on the ULSTEIN SX222 design with TWIN X-STERN from Ulstein Design & Solutions AS, will be 89.6 meters long with a 19.2-meter beam, able to accommodate 126 people in 91 cabins.
Oil Tanker Owners Frontline and Euronav Sign Merger Deal
Frontline and rival Euronav have signed an all-stock merger deal to create a market-leading oil tanker group with 146 vessels including 68 very large crude carriers (VLCCs), the companies said on Monday.The firms, which expect the merged company to have a market capitalization of more than $4 billion and the merger to generate synergies of at least $60 million a year, first announced their intention to merge on April 7.
