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Huntington Ingalls, a US Navy shipbuilder, beats expectations in the second quarter

Posted to Maritime Reporter on August 1, 2024

Huntington Ingalls reported Thursday better than expected second-quarter earnings, due to increased global tensions driving up demand for amphibious assault vessels, submarines, and aircraft carriers. Virginia-based firm reported profit per share of $4.38 for the three months ended 30 June…

Olympic Rowing-New Zealand's sculls lead the rowing gold rush in Paris Games

Posted to Maritime Reporter on August 1, 2024

New Zealand, Romania and Netherlands won all the gold medals as the Olympic double sculls & fours competitions attained their climax in Paris on Thursday morning, after a thrilling race at Vaires-sur-Marnes Nautical Stadium. The Kiwi team of Brooke Francis…

Canadian warship crosses Taiwan Strait and draws China's anger

Posted to Maritime Reporter on July 31, 2024

The Chinese rebuked Ottawa for the exercise, saying it undermined the peace. The Canadian defense ministry announced that the HMCS Montreal had recently conducted a routine passage through the strait. According to the minister of defence, this…

EIA: US crude gasoline stocks fall due to robust export demand

Posted to Maritime Reporter on July 31, 2024

The Energy Information Administration reported on Wednesday that U.S. crude and gasoline inventories dropped sharply during the past week due to strong export demand. The EIA reported that crude stocks fell by 3.4 millions barrels to 433,000…

Norwegian Cruise raises its FY profit forecast on the back of resilient sea-holiday demand

Posted to Maritime Reporter on July 31, 2024

Norwegian Cruise Line Holdings raised Wednesday its profit projection for the full year for a record third time in this calendar year. The company attributed it to a sustained holiday demand on ships and higher prices for itinerary. In premarket trading…

Dutch fly in women's final pairs

Posted to Maritime Reporter on July 31, 2024

The Netherlands' Ymkje Claevering and Veronique meester sped into the final of the Olympic women's pair rowing event at Vaire-sur-Marne Nautical Stadium with the best time on Wednesday, as the hot weather from Tuesday gave way to cloudy skies.

The Russian Navy begins major drills that involve the majority of its fleet

Posted to Maritime Reporter on July 30, 2024

Russian media reported that the Russian Navy began planned exercises on Tuesday. The exercise involved a large part of their fleet, as well as some 20,000 people and 300 vessels, according to Russian news agencies citing information from the Defence Ministry.

Mexico's Pemex crude oil exports fell 37% on an annual basis in June

Posted to Maritime Reporter on July 29, 2024

According to data released by the company late on Friday, crude oil exports of Mexico's energy state Pemex dropped 37% from June to June last year. Production of liquid hydrocarbons also continued to fall, reaching its lowest level this year. Pemex released its monthly statistics on Friday.

Olympics-Canoeing-Gestin and Prigent provide home cheer with superb slalom runs

Posted to Maritime Reporter on July 27, 2024

On Saturday, French canoeists Nicolas Gestin (left) and Camille Prigent (right) gave rain-soaked fans a lot to cheer about. They performed some blistering slaloms at the Olympic Vaires-sur-Marne Nautical Stadium. Gestin won the heats for men's single slalom while Prigent…

The rowing weight classes are disappearing as the Olympics nears.

Posted to Maritime Reporter on July 27, 2024

The men's and woman's lightweight double-sculls event will begin on Sunday, marking the beginning of a new era. Weight classes are scheduled to disappear from Olympic rowing after the Paris Games. The discipline was introduced in 1996 and has…

US is seeking bids for the offshore wind land off Texas after Hecate expressed interest

Posted to Maritime Reporter on July 26, 2024

After renewable energy developer Hecate Energy Gulf Wind LLC submitted an unsolicited offer, the U.S. Bureau of Ocean Energy Management announced on Friday that it was seeking competitive bids to lease offshore wind leases near the Texas coast.

The British medal machine is put to the test by new events in France

Posted to Maritime Reporter on July 26, 2024

Mark Robinson, the leader of Britain's sailing squad, said that new events will be introduced in 2024 and present a new challenge to defend their Olympic crown. The British team has won more medals than any other nation since 1900, when sailing made its debut at the Olympic Games.

Mexico wants to continue fuel imports after delays in refineries

Posted to Maritime Reporter on July 26, 2024

M exico wants to import more motor oil than originally planned for the next year to compensate for delays with its new Olmeca refining plant, according to a half dozen traders, marking a U-turn from state energy company Pemex. The purchases…

Houthi leader warns of a response to Israeli airstrikes in Yemen's Hodeidah

Posted to Maritime Reporter on July 25, 2024

In a Thursday televised address, the leader of the Iran-backed Houthi group said that a response to Israeli airstrikes in Yemen's Hodeidah was coming. A drone fired on a crowd near Yemen's Hodeidah port, killing nine and injuring 87 people, just a day after the Houthi attacked Tel Aviv…

Freeport LNG, Texas, reopened on Thursday following its closure on Wednesday

Posted to Maritime Reporter on July 25, 2024

According to data provided by financial firm LSEG, and a filing made with Texas environmental regulators, the U.S. liquefied gas (LNG), company Freeport LNG is on track to resume service Thursday following a shutdown on Wednesday. Freeport is one the most watched U.S.

Royal Caribbean increases its annual profit forecast due to a surge in cruise demand

Posted to Maritime Reporter on July 25, 2024

Royal Caribbean increased its profit forecast for the third consecutive year on Thursday, citing the continued demand for cruise holidays and the higher ticket prices. The cruise operator's share price was down about 2% just before the bell…

GE Vernova claims that faulty manufacturing caused offshore wind blade failure

Posted to Maritime Reporter on July 24, 2024

Power services company GE Vernova said on Wednesday that a manufacturing defect led to a failure of a turbine blade at the Vineyard Wind project offshore off the coasts of Massachusetts in early this month. On July 13, the blade of the turbine…

Venezuela awards licenses to BP and Trinidad's NGC in order to develop offshore gas projects

Posted to Maritime Reporter on July 24, 2024

Venezuela granted a license for a long time to British energy company BP and the state-owned National Gas Company of Trinidad and Tobago to develop Venezuela's side of a large gas field which extends into Caribbean waters. There are approximately…

EU wheat prices ease as Black Sea supplies hang over the market

Posted to Maritime Reporter on July 24, 2024

Euronext's front-month wheat futures eased Wednesday, as the Black Sea export supply competed with Euronext and traders looked for more information about the losses from a wet harvest in Western Europe. The price of September wheat traded on…

EU Wheat drifts as Black Sea Supply Hangs Over Market

Posted to Maritime Reporter on July 24, 2024

Euronext Wheat Futures were not much changed on Wednesday, as export competition by Black Sea supplies curbed prices. Traders also sought to learn more about the extent of damage caused by a wet harvest in Western Europe. The September wheat…