Bermuda News

Tanker loading in Venezuela dwindled on Monday, with most ships moving oil cargoes only between domestic ports following U.S. action against two more ships and as state-run energy company PDVSA struggles to recover from a cyberattack, according to tracking data and sources.The U.S. Coast Guard this month seized a supertanker under sanctions carrying Venezuelan oil and tried to intercept two more Venezuela-related ships over the weekend, U.S. authorities said. One of them is an empty ship under U.S.

ST Engineering’s Marine business and Siemens Energy have been awarded a second contract by Transcontinental Capital Corporation (Bermuda), a subsidiary of Seaboard Corporation, to deliver Estrella del Mar IV, a barge-mounted power plant to Santo Domingo in Dominican Republic.The new power plant will be based on its predecessor, the Estrella del Mar III, which was commissioned in 2022.When completed, it will enhance the Dominican Republic’s energy infrastructure with greater efficiency…

Seaward Services, Inc., a provider of maritime solutions and part of the global Hornblower Group, announced that its vessel the M/V Seaward Endeavor is available for extended international operations following its approval by the United States Coast Guard (USCG) for expanded authority to operate in international waters. The Seaward Endeavor is an integral component of Seaward’s growing fleet of Multi-Purpose Offshore Supply Vessels. Currently stationed on the US East Coast, the Seaward Endeavor is now positioned to support operations beyond domestic waters…

CMB.TECH has successfully completed the stock-for-stock merger between Golden Ocean Group Limited and CMB.TECH Bermuda, a wholly-owned subsidiary of CMB.TECH, with CMB.TECH Bermuda Ltd. as the surviving company, and with CMB.TECH as the issuer of the merger consideration shares. CMB.TECH has issued 95,952,934 new ordinary shares by means of a capital increase by contribution in kind. These shares will be delivered to former holders of Golden Ocean shares as merger consideration at the exchange ratio of 0.95 ordinary shares of CMB.TECH for each common share of Golden Ocean.

Golden Ocean Group Limited (NASDAQ: GOGL; Euronext Oslo Børs: GOGL) has issued an update on its planned stock-for-stock merger with CMB.TECH NV (NYSE: CMBT; Euronext Brussels: CMBT), confirming the transaction could close as early as August 20, 2025.Under the agreement, Golden Ocean will merge with CMB.TECH Bermuda Ltd., a wholly owned subsidiary of CMB.TECH, with the latter as the surviving entity. Golden Ocean shareholders will receive 0.95 newly issued ordinary shares of CMB.TECH for each Golden Ocean common share, subject to customary adjustments.

Ships warned to avoid Red Sea, log Hormuz voyages after Israel hits IranMerchant shipping is continuing to pass through the Strait of Hormuz despite Israel's attacks on Iran on Friday, the multinational, U.S.-led Combined Maritime Force said, although some shipowners were looking to avoid the region.Iran has in the past threatened to close the critical Strait of Hormuz to traffic in retaliation for Western pressure. Any closure of the Strait could restrict trade and impact global oil prices."The Strait of Hormuz remains open and commercial traffic continues to flow uninterrupted…

CMB.TECH and Golden Ocean Group have signed an agreement and plan of merger for a stock-for-stock merger, as contemplated by the term sheet previously announced on April 22.The transaction is structured as a merger, with Golden Ocean merging with and into CMB.TECH Bermuda, a wholly-owned subsidiary of CMB.TECH, with CMB.TECH Bermuda as the surviving company.The merger will create one of the largest listed diversified maritime groups in the world with a combined fleet of approximately 250 vessels.CMB.TECH’s strategy of diversification and decarbonization was in full swing in Q1 2025…

CMB.TECH and Golden Ocean Group have signed a term sheet for a contemplated stock-for-stock merger, with CMB.TECH as the surviving entity, based on an exchange ratio of 0.95 shares of CBM.TECH for each share of Golden Ocean.The Term Sheet has been unanimously approved by CMB.TECH’s Supervisory Board and by Golden Ocean’s Board of Directors, including its special transaction committee composed of disinterested directors.The transaction would be structured as a merger with Golden Ocean merging with and into CMB.TECH Bermuda Ltd.…

Shoreline and HudsonAnalytix launched of ShorelineHudson, a partnership to provide the maritime industry with integrated insurance and risk management solutions. ShorelineHudson’s mission is to predict, innovate, and respond to the ever-evolving risks of its global maritime industry clientele. This relationship brings together Shoreline’s expertise in marine insurance and HudsonAnalytix’s strengths in risk management, claims mitigation, regulatory compliance, and cybersecurity and operational resilience.

Belgian oil tanker group CMB.TECH has entered into a share purchase agreement with Hemen for the acquisition of its stake in dry bulk shipping company Golden Ocean.The acquisition agreement is for 81,363,730 shares in Golden Ocean Group, representing ca. 40.8% of Golden Ocean’s outstanding shares and votes which includes all Golden Ocean shares controlled by Hemen, at a price of $14.49 per share.The transaction will not trigger a mandatory takeover bid or similar offer in Bermuda…

Battered by Covid, the cruise industry was down but not out. Today it is setting records in passenger count + the size and cost of a new fleet.Post-Pandemic, the fortunes of the big cruise companies have brightened dramatically. A late December, 2024 earnings release from Carnival Corporation & plc (NYSE: CCL), encompassing brands including Carnival Cruise, Holland America, Cunard, Princess Cruises and others, says it all: “This has been an incredibly strong finish to a record year,” said CCL’s CEO Josh Weinstein, in its statement.

Dry bulk shipping company Golden Ocean Group has appointed Tonesan Amissah as Director of the company.Amissah is a Barrister and Attorney-at-Law with over 30 years of experience in international corporate law.She is currently a Client Director at Ocorian Services (Bermuda), a global fiduciary and corporate services company where she oversees all aspects of client service. Amissah is a former partner of Appleby (Bermuda) where she led the funds and investment services team and was a senior member of the firm’s corporate department, having joined Appleby in 1989.

“With all the archival data and that real archaeological data coming together, we’ve built the most accurate virtual model ever of Monitor, and I'm not just talking just the shell of it. Every single nut and bolt is there.” Tane CasserleyThe USS Monitor was commissioned during the Civil War for the Union Navy in answer to the Confederate Navy’s new ironclad ship CSS Virginia (formerly the USS Merrimack), touted as being capable of breaking the Union blockade at Hampton Roads, Virginia. Swedish-American inventor, John Ericsson came up with a unique low, freeboard design that included a first-of-its-kind rotating gun turret.Monitor was launched on January 30, 1862, and on March 9th, famously fought the Virginia at the Battle of Hampton Roads.

The Massachusetts Port Authority (Massport) today celebrated a record-breaking passenger count at Flynn Cruiseport Boston this year with just over 480,000 passengers, a 29 percent passenger increase over last year.Flynn Cruiseport welcomed a total 167 cruise ships this season –18 more ships and a 12 percent increase over 2023. The Authority also announced a $100 million investment in the Cruiseport, including $60 million for shore power, a significant step forward for sustainable maritime practices at the Port of Boston…

The Government of Bermuda’s Marine and Port Services has taken delivery of the 700-passenger ferry Bermudian after a major refit at Gladding-Hearn Shipbuilding. Engineering and project management were jointly handled by the Somerset, Mass. shipyard and Propulsion Data Services, and class oversight by Lloyd’s Register.Among the myriad items to be removed, repaired or replaced, the hull received repairs as required by class and repainted, with a goal of extending the life of the 37-year-old vessel an additional 15 years…

Greece-based mid-stream carbon capture, utilization and sequestration (CCUS) service provider ECOLOG has teamed up with Finnish naval architecture and marine engineering firm Deltamarin to develop a LCO2 carrier designed for  tendering at shipyards worldwide.The new design is intra-EU, short range, low pressure and shallow draft.During the initial design, various solutions have been carefully studied in order to optimize the vessel for LCO2 transportation, including different configurations of the cargo containment and handling system…

Tanker ordering has surged in the first few months of 2024 as shipowners owners seek to renew ageing fleets and add new vessels that meet latest environmental regulations.So far this year, 104 tankers have been added to the global orderbook, up from 79 for the same period last year, representing a year-on-year increase of c.32%, according to latest figures from Veson Nautical.Values for tanker newbuildings have also increased across all subsectors. LR2s of 115,000 DWT show the biggest leap…

Earlier this month Strategic Marine hosted the keel laying ceremony for 2 x 40m 550 Passenger Fast Ferry for the Government of Bermuda, with the Director of the Department of Marine and Ports Services for the Government of Bermuda and various supply partners participating in the project.

Classification society ABS announced it has awarded ECOLOG, a mid-stream Carbon Capture, Utilization and Sequestration (CCUS) service provider, with an industry first ISM Document of Compliance for the operation of liquified CO2 carriers on behalf of the Bermuda flag administration.ABS audited ECOLOG to verify compliance with the International Safety Management Code.ECOLOG plans to build and own CO2 terminals and a carrier fleet to service the emerging CCUS sector, connecting hard to abate emitters with cost competitive sequestration sites and carbon utilization facilities.“Carbon capture…

Britannia, the insurer of container ship the Dali, is working with the vessel's owner and U.S. authorities on the investigation into the collapse of Baltimore's Francis Scott Key Bridge, the insurer said on Thursday.The bridge collapsed on Tuesday after the Dali suffered a power outage and struck a pylon, causing huge disruption in the port."We are working closely with the vessel's owner and manager and the relevant U.S. authorities as part of the investigation into the casualty…

We think of Bermuda as a tiny paradise in the North Atlantic. But long before cruise ships moored up, prison ships carried hundreds of convicts to the island, first docking in 1824 and remaining there for decades.Islands have long been places to deport, exile and banish criminals. Think of Alcatraz, the infamous penitentiary in San Francisco, or Robben Island in South Africa, which held Nelson Mandela. The French penal colony Devil’s Island was immortalised in the Steve McQueen film Papillon…

A new table published by the International Chamber of Shipping (ICS) indicates continuing positive performance by the vast majority of the maritime industry's flag states.Merchant ships are required to register under a flag state, which determines the vessel's nationality and gives jurisdiction under which to operate. Flag states have the authority and responsibility to enforce regulations over vessels registered under their flag, including those relating to inspection, certification…

Gladding-Hearn Shipbuilding, Duclos Corporation, has delivered a Chesapeake Class pilot boat to the Bermuda Government, Department of Marine and Port Services. It follows delivery of a 61’ pilot/rescue vessel to the port services in 2011.The new all-aluminum launch is certified to Lloyd’s Register class and replaces a 10-knot steel pilot boat built by the Somerset, Mass. shipyard in 1980. With a deep-V hull designed by Ray Hunt Design, the new boat measures 52.11’ overall, with a 15.10’ beam and a 4.8’ draft.