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New Zealand's America's Cup boats are back in the water

Posted to Maritime Reporter on August 31, 2024

New Zealand, the America's Cup defenders, were back in the water Saturday after repairing damage to their AC75 that was sustained when they pulled it out of water two days earlier. New Zealand's monohull foiling boat suffered serious damage…

After the first day of America’s Cup, Sailing-New Zealand damaged boat on shore

Posted to Maritime Reporter on August 29, 2024

New Zealand's AC75 America's Cup vessel sustained damage when it was lifted out of the water at Barcelona. They will not race on Friday until they have assessed its full extent. New Zealand confirmed that all members of its team were safe after the incident on Thursday…

New Zealand assesses damage after a crane failure on America's Cup Opening

Posted to Maritime Reporter on August 29, 2024

New Zealand, the America's Cup defenders, said that a crane failed when lifting their AC75 out of water following racing in Barcelona. However, all team members are safe. Onshore, the incident occurred as the competition began for the oldest…

Sources say that the German state government is likely to buy 80% of a shipbuilder.

Posted to Maritime Reporter on August 27, 2024

Two sources with knowledge of the situation said on Tuesday that the German government and the state of Lower Saxony will likely acquire around 80% of Meyer Werft in order to secure the company's future as one of the largest cruise shipbuilders in the world.

Euronext Wheat Slips Again amid Export Gloom

Posted to Maritime Reporter on August 23, 2024

Euronext Wheat fell on Friday for the third consecutive day, holding near its five-month low. A rising euro and an abundance of grain from the Black Sea at a lower price kept traders pessimistic about export prospects. The December wheat contract…

Australia performs first maintenance on US nuclear submarine

Posted to Maritime Reporter on August 23, 2024

The defence ministers from Australia, Britain, and the United States announced that a U.S. nuclear-powered sub will undergo maintenance for the first-time in Australia on Friday. This is a crucial step taken by AUKUS partner countries to deter aggressive behavior in the Indo-Pacific.

Sources say that Germany is planning to take a majority stake in the troubled cruise shipbuilder.

Posted to Maritime Reporter on August 22, 2024

Sources familiar with the situation said on Thursday that the German government intends to buy a majority stake in Meyer Werft - one of the top cruise ship builders in the world - as part of its support for the company. Sources said that Chancellor Olaf Scholz…

EU wheat reaches new 5-month low due to Black Sea pressure

Posted to Maritime Reporter on August 21, 2024

Euronext Wheat prices fell on Wednesday to their lowest level in five months as the strength of the euro and cheaper Black Sea wheat supplies pushed down prices. The December wheat position, which was the most active on Paris' Euronext exchange…

Clifford Chance shocked after missing lawyer in yacht accident

Posted to Maritime Reporter on August 20, 2024

A prominent New York attorney who is one of six passengers missing from a sunken boat off the coast of Italy was travelling with his longtime British client, British technology entrepreneur Mike Lynch. This happened just weeks after he helped him avoid conviction for a 12-year legal battle.

Paris wheat falls to 5-month-low as Euro and Black Sea competition weigh

Posted to Maritime Reporter on August 19, 2024

Euronext Wheat fell Monday to a five-month new low, as the gains in the dollar against the euro highlighted the export struggles of western European wheat in comparison with cheaper Black Sea wheat. The poor harvests in France, Germany and other…

Source: UK's Mike Lynch is missing after his yacht sinks in Sicily

Posted to Maritime Reporter on August 19, 2024

A person familiar with the search operation reported that British tech entrepreneur Mike Lynch was missing on Monday after his luxury yacht was hit by a violent thunderstorm and sank near the Sicilian capital Palermo. Lynch, 59 years old, was…

EU wheat rebounds from 5-month lows, led by a front-month flurry

Posted to Maritime Reporter on August 16, 2024

Euronext wheat recovered from near five-month-lows on Friday, led by technical gains in the front-month contracts, although cheaper Black Sea supplies restricted gains and distracted attention from poor harvests across western Europe. Euronext December wheat was up 1.6% at 219…

EU wheat drops to four-month-low as Black Sea competition persists

Posted to Maritime Reporter on August 14, 2024

Euronext Wheat fell for the third day on Tuesday, to its lowest level in over four months. Traders said that competition from cheaper Black Sea wheat supplies outweighed disappointing western European harvests. The December wheat price on Euronext was 1.3% lower at 219…

EU wheat prices slip as Black Sea supplies weigh

Posted to Maritime Reporter on August 13, 2024

Euronext Wheat Futures fell on Tuesday for the second day in a row as Egypt's ongoing efforts to secure supply highlighted the availability of Black Sea wheat at lower prices. December wheat, which was the most actively traded position on Paris' Euronext exchange…

Blackstone sells 3,300 UK homes to USS Pensions

Posted to Maritime Reporter on August 13, 2024

Blackstone, a private equity firm, announced Tuesday that it had sold 3,00 shared-ownership houses to Britain's largest private pension fund. This is a sign that big money managers are increasingly making deals in the UK housing industry. Blackstone…

UKMTO reports that a ship captain reported an incident southwest of Yemen’s Hodeidah.

Posted to Maritime Reporter on August 12, 2024

The United Kingdom Maritime Trade Operations agency (UKMTO), said Tuesday, that a ship's crew reported an explosion 63 nautical mile southwest of Yemen's Hodeidah. In a note of advice, the agency stated that the vessel and crew were safe and that the ship was proceeding to the next port.

EU wheat prices fall as Egypt's Black Sea competition highlights the Black Sea Competition

Posted to Maritime Reporter on August 12, 2024

European wheat futures declined on Monday, as an Egyptian import bid kept attention on the competitive Black Sea supply. However, unexpected downward revisions in U.S. corn and wheat supply forecasts limited losses. December wheat, which was…

EU wheat prices fall as Egypt's Black Sea competition highlights the Black Sea Competition

Posted to Maritime Reporter on August 12, 2024

European wheat futures declined on Monday, as an Egyptian import bid kept attention on the competitive Black Sea supply. Expectations that U.S. crop forecasts would increase in a report by the government also weighed on sentiment. The December wheat position…

Olympics-Canoeing-Vincent gets her golden moment with narrow Olympic win

Posted to Maritime Reporter on August 10, 2024

After a long wait, Canada's Katie Vincent was declared the winner in the women's single canoe 200m sprint. Vincent won the gold medal in the end by just a hundredth of a sec over American Nevin Harrison who had claimed the gold in Tokyo but missed another one in Paris.

PARIS OLYMPICS: What you should know now

Posted to Maritime Reporter on August 10, 2024

Ethiopian Tamirat Tola, who won the men's race in a time Olympic record, crossed the finish line before Les Invalides. The day will be packed with athletics. Eight finals on track and field are scheduled for Saturday. Imane Khelif, the first woman from Algeria to win a gold medal in boxing…

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