Gary News

As U.S. shale oil boomed last decade, an oil pipeline company pitched an ambitious multi-billion-dollar export port off the Texas coast to ship domestic crude to buyers in Europe and Asia.In April, Enterprise Products Partners' SPOT became the first project to receive a license from the U.S. maritime regulator for a deepwater port that could load two supertankers, each of which can carry up to 2 million barrels of oil at a time.But multi-year regulatory delays, a loss of commercial backers and slowing U.S.

Star Bulk Carriers Corp. on Tuesday announced that it has completed its merger with fellow dry bulk shipping company Eagle Bulk Shipping Inc.Eagle Bulk shareholders this week voted to approve the $2.1 billion deal, which was first announced in December 2023.Under the terms of the merger agreement, each Eagle shareholder received 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned. Eagle common stock has ceased trading and will no longer be listed on the New York Stock Exchange.Petros Pappas…

Rising oil tanker chartering rates due to global shipping disruption are forcing oil shippers to take on longer-term shipping charters, executives said this week at an energy conference in Houston.The global oil tanker fleet must now travel further to get crude to refineries and fuel to consumers. European sanctions have forced Russian exporters to send oil to Asia that would have otherwise gone to Europe. Attacks on vessels in the Red Sea have forced some shippers to sail around…

Defense company Babcock International has delivered Type 23 frigate HMS St. Albans back to the Royal Navy for sea trials three months ahead of the planned schedule, following a refit operation.Once the current sea trials are completed, HMS St. Albans, with her 178-strong crew, will return to sea as the most advanced, equipped, and capable Type 23 frigate in the Royal Navy’s fleet, boasting next-generation weapons systems and radar, according to Babcock.During her time in dock…

Oil stains possibly coming from neighboring Tobago have reached the island of Bonaire, local media said on Monday, prompting authorities to begin organizing protection to beaches and mangrove areas.Since an oil spill from a capsized vessel was first spotted by Trinidad and Tobago's Coast Guard on Feb. 7, it has blackened the Caribbean nation's beaches and is threatening other countries, including Grenada and Bonaire, whose main source of revenue is tourism.Part of Bonaire's East coast…

Stena RoRo announced it has taken delivery of the 10th vessel in its E-Flexer series from the CMI Jinling, Weihai Shipyard. The vessel, named Ala'suinu, will be on a long charter agreement with the Canadian state-owned Marine Atlantic and operate a ferry line in eastern Canada between Newfoundland and Nova Scotia.“We are very excited to welcome the Ala’suinu to our service,” says Gary O'Brien, Chair, Board of Directors, Marine Atlantic. “With a focus on reducing our environmental impact…

U.K. based ship repair and marine services form Dales Marine Services announced it has acquired 20 new welding generators from MB Plant, Peterhead.The newly acquired welding generators are replacements for older machines and will be utilized on-site at Dales Marine facilities including Aberdeen, Leith, Greenock and Troon, as well as remotely at clients' sites, as required.Dales Marine said its main facilities have been experiencing a steady increase in the number of vessels coming to their docks for scheduled maintenance and repairs…

Dry bulk shipping companies Star Bulk Carriers and Eagle Bulk Shipping have reached a deal to merge in a $2.1 billion all-stock deal.The terms of the definitive agreement have received unanimous approval from the boards of directors of both New York-listed ocean carriers, and the companes expect the deal to close in the first half of 2024 following approvals from regulators and Eagle shareholder.Eagle shareholders will receive 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned.

A storage vessel for Mexico's first liquefied natural gas (LNG) plant departed U.S. waters on Monday for Altamira, Mexico, according to ship tracking data, putting the offshore project on track to soon inaugurate exports.LNG developer New Fortress Energy last week said its 1.4-million-metric-tons-per-year Altamira floating LNG project had begun processing gas. The company earlier this year had postponed the inauguration amid delays in receiving the infrastructure."We're excited to announce that we've achieved first gas for our Fast LNG 1 unit…

Saab and GMV are collaborating in ASGARD, an EU-funded project that aims to improve maritime security when using GNSS and OSNMA. The project addresses the growing threat of GNSS spoofing and other cyberattacks on navigation systems used in the maritime industry.The ASGARD project, run by Saab and GMV, is an ambitious European Union (EU) initiative that aims to develop advanced technologies to improve Global Navigation Satellite System (GNSS) and Open Service Navigation Message Authentication (OSNMA) security in maritime environments.

The American Bureau of Shipping has awarded an approval in principle (AIP) to Malaysian floating production firm Bumi Armada for a floating liquefied natural gas (FLNG)  infrastructure design. The new concept incorporates a barge-based liquefaction unit and utilizes existing LNG carriers for storage. ABS completed design reviews based on class and statutory requirements."We are pleased to support Bumi Armada in their ongoing efforts to offer  safe and reliable LNG storage solutions.

The Panama Canal could further reduce the maximum number of authorized daily vessel transits if this year's drought continues, the waterway's administrator said on Tuesday.A backlog of ships is waiting to pass through the trans-oceanic canal, which handles an estimated 5% of world trade. It began restricting vessel draft and daily passage authorizations this year to conserve water.Many vessels have had to lighten cargoes before passing, and freight costs have risen ahead of the Christmas shopping season.Up to 32 ships are currently authorized to transit every day…

The American Bureau of Shipping (ABS) has awarded Approval in Principle (AIP) for Bumi Armada’s pioneering design for a floating carbon storage and injection unit (FCSIU).Bumi Armada’s FCSIU concept is a floating terminal capable of storing and injecting liquified carbon dioxide (LCO2) into depleted oil and gas fields or aquifers. This novel concept incorporates the ability to accept LCO2 deliveries in an offshore setting, the flexibility to manage LCO2 at low or medium pressure…

The Panama Canal expects to maintain restrictions on daily vessel transit and maximum draft for at least 10 more months amid a prolonged drought that has lowered the water level, an official from the waterway said on Thursday.The canal's authority earlier this year began imposing restrictions, causing a backlog of vessels waiting to pass. The curbs have forced vessel owners to lighten cargoes or shift to alternate routes as freight costs increase for some routes.The extension of the restrictions would give the canal room for preserving water before the next rainy season arrives…

The Panama Canal Authority on Wednesday notified shippers it is extending through September 2 restrictions for vessels to transit through the waterway and keeping the number of vessels authorized to pass per day to a maximum of 32.The Canal restrictions, implemented in recent months as the rainy season in Panama has come late this year, could add more pressure on consumer goods prices, according to maritime firms and experts, as delays and extra fees add to shipping costs.The Panama Canal is key for moving consumer goods from Asia to the United States…

Shuttle tanker owner KNOT Offshore Partners will appoint Derek Lowe as new Chief Executive Officer and Chief Financial Officer with effect from the week of September 11, 2023.The new appointment comes following the decision of Gary Chapman to step down as the Partnership’s CEO/CFO announced on April 10, 2023. Lowe will join the KNOT Offshore Partners from Telford Offshore, a provider of accommodation, construction, and pipelaying in the global offshore energy services industry. He has served as the Group Company Secretary of Telford Offshore since its formation in 2018, having provided consultancy services to its predecessor since 2015. He worked from 2011 to 2015 for the debt capital markets group of Pareto Securities, and from 1994 to 2010 for the equity capital markets group of UBS. Mr.

The Canadian Coast Guard on Wednesday welcomed the CCGS Chedabucto Bay into its fleet at the Lifeboat Station in Clarks Harbour, Nova Scotia.The Bay Class vessel, built by Chantier Naval Forillon in Gaspé, Quebec and delivered earlier this year, is the 14th of 20 new search and rescue lifeboats that will be dedicated into service by the Canadian Coast Guard across the country.The shore-stationed self-righting lifeboats are specifically designed, equipped and crewed to respond to search and rescue incidents at sea.

Contaminated marine fuels from several suppliers led to fouled engines on about a dozen vessels operating from the U.S. Gulf Coast this spring, according to Lloyd's Register and marine fuel testing service VPS.The tainted fuel was the first major occurrence along the U.S.

Top LNG traders Shell and BP have separately filed for arbitration against U.S. exporter Venture Global LNG for failing to supply contracted cargoes, even as it sold to non-contract customers as prices soared, four people familiar with the matter said.A Venture Global LNG spokesperson did not comment on the Shell and BP claims. Last month, the company said it was in full compliance with terms of its long-term contracts and cited a need for extensive commissioning of its modular…

More than half of the 22 oil tankers in Venezuela's fleet are so run down that they should be immediately repaired or taken out of service, according to an internal report from state-run oil company PDVSA that was shared exclusively with Reuters. The report by PDVSA's maritime branch, entitled "Critical deficiencies and risks of PDV Marina's tanker fleet," said years of deferred maintenance had left the entire fleet with "low levels of reliability," at risk of spills, sinking, fires, collisions or flooding.

Chevron Corp has stepped up sales of Venezuelan crude oil to rival U.S. refiners, adding PBF Energy Inc and Marathon Petroleum Corp to its list of customers for the crude, vessel tracking and loading schedules showed.U.S. Gulf Coast refiners, which historically processed Venezuelan oil, have shown a renewed appetite for the heavy sour crude grade after Chevron late last year received authorization from the U.S. Treasury Department to expand its operations in Venezuela and resume oil shipments to the U.S. after a four-year pause.Chevron, the last big U.S.

U.S. offshore shipbuilder and shipowner Edison Chouest this week marked the 50-percent completion milestone for the U.S.-flagged ECO Edison, the first Jones Act-compliant wind farm SOV. Senior executives from offshore wind developers Ørsted and Eversource toured the Edison Chouest Offshore shipyard in Louisiana to see the progress on the SOV.ECO Edison will be delivered in 2024 and immediately provide operational support out of Port Jefferson, New York, for Ørsted and Eversource's joint venture offshore wind portfolio, which includes South Fork Wind, Revolution Wind and Sunrise Wind.

Houston, Pa.-based marine transportation and services business Campbell Transportation Company, Inc. (CTC) announced it has promoted Gary Statler to senior vice president of river operations, effective March 1, 2023.Statler joined Campbell in October of 2014 and served as vice president of administration from February of 2021.Campbell's president, Kyle Buese, said Statler's promotion is in line with the company's long-term succession plan, and part of an organizational strategy to increase division leadership as the company grows.Campbell…