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Maritime Law & Regulations News

30 Jun 2022

CMA CGM to Lower Some French Shipping Rates to Curb Inflation

© eyewave / Adobe Stock

Shipping giant CMA CGM said on Thursday it would reduce container shipping rates for some common consumer products imported in France to support government steps to curb inflation.The group will from Aug. 1 reduced shipping rates by 500 euros ($520.10) per 40-foot container for consumer products imported by retailer customers in France, CMA CGM said in a statement.($1 = 0.9614 euros)(Reuters - Reporting by Gus Trompiz and Tassilo Hummel, Editing by Sybille de La Hamaide)

29 Jun 2022

Chevron Completes Acquisition of Renewable Energy Group

© peterschreiber.media / Adobe Stock

Chevron Corporation earlier this month completed its previously announced acquisition of biodiesel production company Renewable Energy Group, Inc. (REG) following approval by REG stockholders.‚ÄúWe have brought together companies with complementary capabilities, assets, and customer relationships to make Chevron one of the leading renewable fuels companies in the United States,‚ÄĚ said Mark Nelson, executive vice president of Downstream & Chemicals for Chevron. ‚ÄúChevron now offers our customers an expanded suite of cost-effective‚Ķ

28 Jun 2022

US Authorities Make Checks on Oil Tanker Arrived from Russia

© Andrea Izzotti / Adobe Stock

U.S. authorities have stopped an oil tanker traveling from Russia to New Orleans to check whether it is Russian in origin, a source confirmed to Reuters.The Vitol-chartered vessel was shipping intermediate oil products including vacuum gasoil and fuel oil from Russia's Taman port to New Orleans last week, according to a trading source and shipping data.The products were due to reach a Valero refinery in the New Orleans region, two sources said.The cargo was stopped by U.S.

28 Jun 2022

US Supplying Ukraine with Over 20 Metal Shark Military Vessels

(Photo: Metal Shark)

The United States is providing Ukraine with a range of defense articles, including 23 welded-aluminum military vessels built by Louisiana-based Metal Shark, to help Ukraine to better protect its coastline, waterways and ports.Last week it was announced that six of the U.S. Navy’s new 40 PB maritime combat vessels would be sent to Ukraine as part of a $450 million security assistance package. Built by Metal Shark and delivered to the Navy in 2021 as part of a currently active defense contract for 50 vessels…

27 Jun 2022

Carnival Expects to Cruise to Core Profit as Strong Demand Blunts High Costs

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Carnival Corp on Friday forecast a core profit for the current quarter, as the cruise operator returns to full operations even as decades-high inflation and surging fuel costs continue to bite.Shares of the company, which have fallen 52% this year, were up about 10% as Carnival also said it expects bookings for the whole of 2023 to be at the top end of their historical range and to benefit from higher prices."Concerning the threat of global recession, while not recession-proof…

27 Jun 2022

Carnival Fined $5 Million for Cybersecurity Violations

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A New York state regulator on Friday fined cruise line operator Carnival Corp $5 million for "significant" cybersecurity violations, following four security breaches from 2019 to 2021 that exposed substantial amounts of sensitive customer data.New York's Department of Financial Services said Carnival violated a state cybersecurity regulation by failing to use multi-factor authentication that would make it harder for wrongdoers to access its internal network.It also said Carnival…

23 Jun 2022

Russian Oil Tankers Get India Safety Cover Via Dubai Company

© John Pitcher / MarineTraffic.com

India is providing safety certification for dozens of ships managed by a subsidiary of top Russian shipping group Sovcomflot, official data showed, enabling oil exports to India and elsewhere after Western certifiers withdrew their services due to global sanctions against Moscow.Certification by the Indian Register of Shipping (IRClass), one of the world's top classification companies, provides a final link in the paperwork chain - after insurance coverage - needed to keep state…

23 Jun 2022

MMA Offshore to Buy Rigs-to-Reefs Specialist Subcon for $8.4M

Credit: MMA Offshore

Australian offshore support vessel owner MMA Offshore has agreed to buy Perth-based Subcon, a company that provides innovative stabilization, coastal erosion, and engineered reef solutions to the oil and gas, offshore wind, coastal infrastructure, and tourism sectors.The total consideration for the transaction is $8.4 million comprising $4.2m cash and $4.2m in MMA ordinary shares."The acquisition is aligned with MMA’s purpose and strategy bringing a range of new environmental marine solutions within MMA’s capability…

22 Jun 2022

VLS Environmental Solutions Acquires Plaquemine Point Shipyard

© Miguel / Adobe Stock

Marine services company VLS Environmental Solutions, LLC announced it has acquired barge cleaning and repair yard Plaquemine Point Shipyard (PPSY). Terms of the transaction were not disclosed.Based in Plaquemine, La., PPSY is located just outside of Baton Rouge and provides full-service barge cleaning and repair along the Mississippi River. PPSY will operate within the VLS Marine Services division, and Wade Grundmeyer, VLS regional vice president of Southeast Louisiana, will run the business reporting to Eddie Van Huis…

21 Jun 2022

Americraft Marine Acquires St. Johns Ship Building

(Photo: St. Johns Ship Building)

Americraft Marine, a maritime subsidiary of the Libra Group, announced it has acquired U.S. shipyard St. Johns Ship Building.Based in Palatka, Fla., near Jacksonville, St. Johns Ship Building performs new construction and repair of a wide variety of steel and aluminum vessels, including ferries, tugs, deck and tank barges, landing crafts, and general cargo vessels. It is also one several U.S. shipyards currently building vessels that support and service offshore wind farms.With facilities including a storm-protected 100-acre inland campus with a 850-ton floating drydock, St.

21 Jun 2022

Wilhelmsen to Acquire Stromme

(Photo: Wilhelmsen)

Wilhelmsen announced it has entered into an agreement with Seven Seas to acquire 100% of its shares in cargo hold cleaning subsidiary Stromme.Wilhelmsen will acquire the company in Norway from parent Seven Seas including operations in Germany and Singapore, as Stromme will transfer all of its people, business and assets into Wilhelmsen Ships Service. Stromme will retain its brand and operate as a fully owned subsidiary of Ships Service. Completion of the transaction is subject…

20 Jun 2022

Denmark Says Russian Warship Violated Its Territorial Waters

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A Russian warship early on Friday twice violated Danish territorial waters north of the Baltic Sea island of Bornholm where a democracy festival attended by senior officials and business people was taking place, the Danish Armed Forces said.Denmark called the action an unacceptable provocation. The Russian embassy in Copenhagen said the Danes provided no evidence.The Russian warship entered Danish waters without authorization at 0030 GMT on Friday and again a few hours later, the armed forces said in a statement.

20 Jun 2022

Insurer Must Pay Spanish Claim in Galicia Oil Spill, EU Court Says

Photo: Stéphane M. Grueso (CC BY-SA 2.0)

Spain on Monday won backing from Europe's top court in its mutlimillion euros damage claim against The London Steam-Ship Owners Mutual Insurance Association for a massive oil spill on its northwestern coast two decades ago.The 2002 sinking of the Greek oil tanker Prestige, which was sailing to Gibraltar, released an estimated 63,000 tones of foul-smelling black fuel along the Galicia coast and forced the closure of Spain's richest fishing grounds.It led to a lengthy dispute between The London Steam-Ship Owners' Mutual Insurance Association Limited…

20 Jun 2022

Sovcomflot Fleet Fully Covered by Russian Insurers, CEO Says

© Andrey Sharpilo / Adobe Stock

Russia's state-run Sovcomflot has insured all its cargo ships with Russian insurers and the cover meets international rules, the chief executive said, after Western insurers withdrew cover.Western insurers halted insurance cover for Russia's biggest shipping group when Sovcomflot was hit by sanctions after Moscow sent troops across the border into Ukraine.Sources told Reuters this month that state-controlled Russian National Reinsurance Company had become the main reinsurer of Russian ships…

20 Jun 2022

Lloyd’s Register Acquires Voyage Solutions Provider OneOcean

From left to right: Martin Taylor and Nick Brown (Photo: Lloyd's Register)

Lloyd’s Register (LR) has acquired OneOcean, a supplier of voyage compliance, safety and environmental solutions, from European mid-market private equity firm Equistone Partners Europe.The addition of OneOcean will expand LR’s existing digital solutions portfolio, which already includes fleet management (Hanseaticsoft) and vessel performance and optimization (i4Insight, C-MAP Commercial and Greensteam).OneOcean was created by the merger of ChartCo, in which Equistone first invested in 2016, and Marine Press in 2019.

17 Jun 2022

Ocean Shipping Reform Act of 2022: Long Term Fixes, But What’s in It for the Short Term?

© Sandra / Adobe Stock

The Ocean Shipping Reform Act of 2022 (the Act) was signed by President Biden on Thursday, June 16, 2022. The long term fixes, which require Federal Maritime Commission rule-making, establishes additional requirements requiring the FMC to issue rules related to certain fee assessments, prohibited practices, and establishment of a shipping registry, and prohibited conduct for ocean carriers. It further authorizes the FMC under certain circumstances to issue an emergency order requiring common carriers to share information directly with shippers and rail and motor carriers.

17 Jun 2022

British Seafarer Gets Prison Sentence After Deadly Baltic Sea Ship Collision

(Photo: Swedish Sea Rescue)

A British crew member of the ship Scot Carrier has been found guilty in manslaughter and sentenced to 1.5 years in prison after a ship collision in December last year in the Baltic Sea that killed two Danish seafarers, Danish police said on Thursday.The 30-year old British man was on duty when the 55-meter (180 ft) barge Karin Hoj was in collision with the 90-meter (295 ft) Scot Carrier in fog and darkness off the Danish island of Bornholm.

16 Jun 2022

Biden Signs Ocean Shipping Reform Act Into Law

President Biden at the Port of Los Angeles on June 10, 2022. (Photo: @POTUS / Twitter)

President Joe Biden on Thursday signed legislation to improve oversight of ocean shipping, which lawmakers say will help curb inflation and ease export backlogs.The bipartisan bill passed the U.S. House of Representatives on a 369-42 vote earlier this week. Biden said he had "promised to crack down on ocean carriers whose price hikes have hurt American families."The new law boosts the investigatory authority of the Federal Maritime Commission (FMC), the U.S. agency that oversees ocean shipping…

16 Jun 2022

Tanker Owner Owes $44.6 Million Over Fatal US Warship Collision

Significant visible damage to the hull of Guided-missile destroyer USS John S. McCain (DDG 56) following a collision with the tanker Alnic MC while in the Straits of Malacca and Singapore on August 21, 2017. (Photo: Joshua Fulton / U.S. Navy)

A U.S. judge on Wednesday said the owner of an oil tanker must pay the United States $44.6 million over its role in a 2017 collision between the tanker with a U.S. Navy destroyer in southeast Asia that killed 10 sailors and injured dozens more.U.S. District Judge Paul Crotty in Manhattan found Energetic Tank Inc 20% responsible and the United States 80% responsible for the Aug. 21, 2017, collision between the 39,000 metric ton Alnic MCtanker and the USS John S. McCain.Both vessels had been cruising alongside each other when the McCain…

16 Jun 2022

Updates, Developments and Advances in Combat and Patrol Craft

SBI completed an order last December for 52 Coastal Interceptor Vessels for U.S. Customs and Border Protection. (Photo: SAFE Boats)

My first visit in 2007 to the American Society of Naval Engineers’ (ASNE) Multi-Agency Craft Conference (MACC) was an eye-opener. Having built a naval architecture career with frigates, destroyers and other large naval and commercial ships, I was eager to learn of the smaller craft used by the U.S. Navy and other government and military bodies. As my flight into Norfolk, Va. descended over Chesapeake Bay, I gazed in amazement as a Landing Craft Air Cushion (LCAC) raced toward Virginia Beach, slowed, glided up the beach and into its shore base.

16 Jun 2022

California's New Emissions Rules Pose Challenges for Tankers -DNV

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Tanker vessels may face challenges calling California when new emissions regulations take effect, according to a new DNV report.The report, commissioned by Western States Petroleum Association (WSPA), indicates tanker vessels and terminals in California could struggle to meet the 2020 amendments to California Air Resources Board's (CARB) Ocean-Going Vessels At-Berth Regulation. DNV's technology assessment looked at the feasibility of the current technologies developed around emissions…

16 Jun 2022

Mergers & Acquisitions: Alfa Laval Inks Deal to Acquire Scanjet

Alfa Laval’s Peter Nielsen, President of Marine Separation & Heat Transfer. Image courtesy Alfa Laval

Alfa Laval signed an agreement to acquire marine tank cleaning equipment supplier Scanjet.Scanjet has expanded from fixed and portable tank cleaning equipment into intelligent tank management, and its solutions and organization will become part of Alfa Laval per an agreement signed on 16 June 2022.‚ÄúScanjet is a tank cleaning innovator with exciting developments in the pipeline,‚ÄĚ says Alfa Laval‚Äôs Peter Nielsen, President of Marine Separation & Heat Transfer, whose business unit will receive the acquisition.

15 Jun 2022

Turkey Says Ukraine Grain Ships Could Avoid Mines

© Elena / Adobe Stock

Russia on Wednesday said it has offered "safe passage" for Ukraine grain shipments from the country's Black Sea ports but is not responsible for establishing the corridors, as Turkey suggested that ships could be guided around sea mines.Ukrainian grain shipments have stalled since Russia's invasion and ports blockade, stoking global prices for grains, cooking oils, fuel and fertilizer. The United Nations is trying to broker a deal to resume Ukraine grain exports and Russian food and fertilizer exports…

15 Jun 2022

Wärtsilä Acquires PortLink Global

Port of Dover, a PortLink Global customer. Courtesy of Port of Dover and PortLink.

Wärtsilä Voyage acquired PortLink Global, a global port solutions company headquartered in Vancouver, Canada. The move is intended to speed Wärtsilä Voyage along its path towards creating an end-to-end connected maritime ecosystem.The transaction was signed and closed in June 2022.PortLink and Wärtsilä Voyage have partnered in the past ‚Äď collaborating on projects including the co-development of a Port Management Information System (PMIS) for the largest Mediterranean and African port‚Ķ

14 Jun 2022

'Midshipman-X' Revealed, Files Suit Against Maersk

Hope Hicks is Midshipman-X. (Photo courtesy Sanford Heisler Sharp)

A U.S. Merchant Marine Academy (USMMA) midshipman who shook the maritime industry last year when, under the moniker "Midshipman-X," publicly described how she was raped by her superior officer while serving as an engine cadet aboard a Maersk cargo ship, has been revealed as Hope Hicks.Hicks is one of two USMMA students being represented by Sanford Heisler Sharp and Maritime Legal Solutions, who said Tuesday they filed two related complaints in New York state court against Maersk Line, Limited alleging that company, a subsidiary of Danish shipping giant A.P.

14 Jun 2022

Iranian Tanker Seized By Greece Has Been Released

© Rene Henri Rosseel / MarineTraffic.com

Iran's Ports and Maritime Organization (PMO) said on Tuesday the Iranian-flagged Lana tanker ship seized in April by Greece is no longer impounded and its oil cargo will be returned to its owner, according to Iran's semi-official Mehr news agency."With the swift and authoritative action of Iran, the Greek government finally issued an order and we are now witnessing the lifting of the ship's seizure and the return of its cargo to its owner," the PMO told Mehr.The ship, previously called Pegas and renamed Lana in March, had reported an engine problem in April.

13 Jun 2022

US House Passes Ocean Shipping Reform Act

© angeldibilio / Adobe Stock

The U.S. House of Representatives approved legislation Monday to improve oversight of ocean shipping, which supporters say will help curb inflation and ease export backlogs. The bill was approved 369-42 and will head to the White House for President Joe Biden's signature. Biden said in a statement he looked forward to signing it into law.The bill would boost the investigatory authority of the Federal Maritime Commission (FMC), the U.S. agency that oversees ocean shipping, and…

13 Jun 2022

UN Launches Public Fundraiser to Prevent Yemen Tanker Oil Spill

Satellite image ©2020 Maxar Technologies

The United Nations has launched a public crowdfunding drive that aims to raise $5 million towards an operation to avoid an oil spill from a decaying tanker stranded off the coast of Yemen, a U.N. official said on Monday.The United Nations has secured some $60 million out of $80 million needed to initially offload the Safer tanker which holds 1.1 million barrels - four times as much oil as spilled during the 1989 Exxon Valdez tanker disaster in the United States."We are calling on the public to help us cross the finish line to get that first $80 million in place…

10 Jun 2022

Sea Mines Float Between Ukraine’s Grain Stocks and the World

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As the United Nations tries to broker a path for grain from Ukraine and temper worries about a global food crisis, hundreds of mines laid along the Black Sea present a practical nightmare that will take months to resolve even after any agreement.The Black Sea is crucial for shipment of grain, oil and oil products. Its waters are shared by Bulgaria, Romania, Georgia and Turkey, as well as Ukraine and Russia.Ukrainian government officials estimate 20 million tonnes of grain are unable to travel from what was the world's fourth largest exporter prior to the Russian invasion on Feb.

10 Jun 2022

Indonesia Investigating Report Navy Asked for Payment to Release Tanker

© kazuhi49 / MarineTraffic.com

Indonesia's head of the armed forces said on Friday that he is investigating a Reuters report that navy officers asked for a payment of $375,000 to release a fuel tanker detained last week on suspicion of anchoring illegally in its waters.Navy officers at the Batam naval base, just south of Singapore, requested the unofficial payment to release the Nord Joy fuel tanker, two security sources involved in the negotiations told Reuters.The incident comes after Reuters reported a dozen similar detentions last year.

09 Jun 2022

Biden Urges Congress to 'Crack Down' on Shipping

(Official White House Photo by Adam Schultz)

U.S. President Joe Biden on Thursday urged Congress to ‚Äúcrack down‚ÄĚ on ocean carriers that have raised shipping prices significantly and helped drive up the cost of goods in the country.‚ÄúOne of the reasons prices have gone up is because a handful of companies who control the market have raised shipping prices by as much as 1,000%,‚ÄĚ Biden said in Twitter post. ‚ÄúIt‚Äôs outrageous‚ÄĒand I‚Äôm calling on Congress to crack down on them.‚ÄĚ‚ÄúWe‚Äôve got to change this. I asked the Congress to pass a piece of legislation to remedy this. Democrats and Republicans voted for it.

09 Jun 2022

Iran Expects Confiscated Oil Cargo to be Returned in Full

Iran expects an oil cargo confiscated by the United States off the coast of Greece to be returned in full, Tehran's ambassador to Athens said on Thursday, following a Greek court ruling quashing the original decision to confiscate it.The case arose when Greece in April impounded the Iranian-flagged Lana, formerly Pegas, with 19 Russian crew members on board, near the island of Evia due to European Union sanctions.The ship was released due to complications over its ownership. The United States in May confiscated part of the Iranian oil cargo onboard…

09 Jun 2022

Ship Fuel and Lube Costs Are Skyrocketing

© jsp / Adobe Stock

The $300 billion bunkering market is at a critical juncture due to the double whammy of the geopolitical crisis and the uncertainty surrounding the regulatory framework pertaining to the decarbonization of the shipping industry.‚ÄúBunkering has been hit from the trickledown effect of the sanctions against Russia, and this of course has had a serious impact on prices. Pre-war, the global prices were around $750-$850 per ton, and now we are looking at prices above $1,000,‚ÄĚ said Alexander Prokopakis‚Ķ

09 Jun 2022

CIT Increases Maritime Financing to $57 Million for Crowley

© Cliff / Adobe Stock

CIT, a division of First Citizens Bank, announced that its Maritime Finance business has recently increased its financing of shipping and logistics company Crowley to a total of $57 million as part of a larger credit facility. This financing applies to multiple Crowley vessels. "Crowley has a heritage of reliable shipping of more than 130 years, and this financing will help continue that safe and reliable service with a focus on innovation," said Vice President and Treasurer Steve Himes of Crowley.

09 Jun 2022

Indonesian Navy Officers Want $375,000 to Release Detained Tanker

Credit; Alex Van Herrewege/MarineTraffic.com

Indonesian naval officers have asked for $375,000 to release a fuel tanker they detained last week, accusing it of anchoring illegally in Indonesian waters off Singapore, two people involved in negotiations over the unofficial payment said.The incident comes after Reuters reported a dozen similar detentions last year. In those cases, the ship owners made unofficial payments of about $300,000 each and the vessels detained by the Indonesian navy east of Singapore were released.

08 Jun 2022

Greek Court Overturns Decision on US Seizure of Iranian Oil Cargo

© Rene Henri Rosseel / MarineTraffic.com

A Greek court on Wednesday overturned an earlier court ruling that allowed the confiscation by the United States of part of a cargo of Iranian oil on an Iranian-flagged tanker off the Greek coast, three sources familiar with the matter said.The incident had led to an angry response by Iran, with Iranian forces last month seizing two Greek tankers in the Gulf after Tehran warned it would take "punitive action" against Athens.Iran had also appealed the original court decision, one legal source said…

08 Jun 2022

Bangladesh Police Investigating Deadly Container Depot Fire

© Lightboxx / Adobe Stock

Police in Bangladesh on Wednesday opened an investigation into eight officials from a shipping container depot after a blaze killed at least 44 people, including 10 firefighters, and injured around 200 others, officials said.Firefighters put out the blaze at the depot in Sitakunda, 40 km (25 miles) from the southeastern port city of Chittagong, on Wednesday, four days after it began late on Saturday, triggering a series of explosions.The investigation was opened into officials who were directly involved operating the depot on suspicion of negligence and mismanagement…

07 Jun 2022

Russian Superyacht in Fiji Leaves for US Amid Legal Wrangling

© Raphael Belly / MarineTraffic.com

A Russian-owned superyacht docked in Fiji departed for the United States on Tuesday after a court in the Pacific island nation ordered its removal, saying it was a waste of money to maintain amid legal wrangling over its seizure.The U.S. Justice Department's Taskforce KleptoCapture has focused on seizing yachts and other luxury assets of Russian oligarchs in a bid to pressure Russian President Vladimir Putin over the war in Ukraine.The 106-meter (350-foot) Amadea arrived in Fiji on April 13 after an 18-day voyage from Mexico.

07 Jun 2022

British Man Charged in Deadly Baltic Sea Ship Collision

(Photo: Swedish Sea Rescue)

A British crew member of the ship Scot Carrier has been charged with manslaughter in a ship collision in December last year in the Baltic Sea that killed two Danish seafarers, Danish police said on Tuesday.The 30-year old British man was on duty when the 55-meter (180 ft) barge Karin Hoj was in collision with the 90-metre (295 ft) Scot Carrier in fog and darkness off the Danish island of Bornholm. Two crew members on board Karin Hoj died as a result of the collision.The suspect was charged with manslaughter, maritime drunkenness and negligence in maritime traffic, Danish police said.

07 Jun 2022

Marine Insurance: Cargo Fires are a Burning Issue for Shipping

Copyright burnstuff2003/AdobeStock

Commercial insurer Allianz Global Corporate & Specialty released its Safety & Shipping Review, an annual analysis of shipping losses and accidents worldwide. The 2022 report reveals that the maritime sector continues its long-term positive safety trend over the past year with 54 total losses of vessels reported globally, compared with 65 a year earlier. This represents a 57% decline over 10 years (127 in 2012); while during the early 1990s the global fleet was losing 200+ vessels a year.The 2021 loss total is made more impressive by the fact that there are an estimated 130…

06 Jun 2022

Do California’s Proposed Harbor Craft Rules Threaten America’s Supply Chain?

(Photo: Curtin Maritime)

Americans became aware of our nation’s supply chain problem when they witnessed a hundred cargo ships anchored off the ports of Long Beach and Los Angeles, stymied from moving cargo to store shelves throughout the United States. Such circumstances could become all too common, especially as recently adopted engine emission regulations force maritime companies out of the country’s most impacted ports, or limit their ability to expand operations as America’s demand for imports and…

06 Jun 2022

The ZouZou: MII to the Rescue?

© Andrea Izzotti / Adobe Stock

A ship financier’s primary security is the mortgaged ship. If the ship becomes a total loss, the mortgage will provide no valuable security, leaving the financier to rely on its rights as assignee and loss payee (and occasionally as co-assured) under the shipowner’s marine insurance policies. However, the owner’s insurers may decline a claim, for example on grounds of breach of warranty or material non-disclosure, or because the loss is not covered by the policy, such as where the owner scuttles the mortgaged ship.

06 Jun 2022

Shipowners Struggling with Lack of Clarity on Sanctions -Prokopiou

© Valery Cherezov / MarineTraffic.com

Shipowners are struggling to know what trades are still legal as a raft of sanctions against Russia and tough measures on other countries including Iran remain confusing, leading Greek shipowner George Procopiou said on Monday.Sanctions imposed on Moscow after it invaded Ukraine in February, including a U.S. ban on its oil imports, have prompted Russia to pivot to customers in India and China who are picking up cargoes at a steep discount, according to industry data and traders.Existing restrictions on Iran have also driven their oil trade towards Asia…

03 Jun 2022

Boskalis Management Says HAL's Offer Not Unreasonable, But Also Not Convincing Enough

 Boskalis heavy transportation vessel carrying an FPSO - Image Credit: Boskalis

Dutch marine services and dredging firm Boskalis said Friday that the price proposed by HAL Holding for the acquisition of all remaining shares of Boskalis wasn't unreasonable, but also not sufficiently convincing to recommend the price to its shareholders. HAL Holding on March 10 announced plans to launch a takeover offer for Boskalis' all remaining shares. The company said it planned to launch an all-cash voluntary public offer of ‚ā¨32.50 per share for all issued and outstanding ordinary shares of Boskalis. HAL had 46.2% shares at the time of the announcement.

02 Jun 2022

UN Security Council Calls for Crackdown on Gulf of Guinea Piracy

© Lucia / Adobe Stock

The UN Security Council last week called for greater action to prevent piracy in the Gulf of Guinea, a region posing significant danger for commercial shipping as a hotbed for maritime kidnappings and armed robbery at sea.The council unanimously adopted Resolution 2634 (2022), which calls upon member states in the region to criminalize piracy and armed robbery at sea under their domestic laws, and to investigate, prosecute or extradite, in accordance with applicable international law…

02 Jun 2022

EU Bans New Insurance of Ships Carrying Russian Oil

© Björn Wylezich / Adobe Stock

The European Union's sixth package of sanctions against Russia, approved on Thursday, includes an immediate ban on new insurance contracts for ships carrying Russian oil and existing contracts are to be phased out over 6 months, an EU official said."It is a 6-month phase out for ship insurance. The six months are counted from the entry into force of the sanctions package, and it is only for existing contracts.

02 Jun 2022

Hapag-Lloyd Acquires DAL's Container Liner Business

© F. Nijenhuis / MarineTraffic.com

Hapag-Lloyd announced it has closed its acquisition of the container liner business of German carrier Deutsche Afrika-Linien (DAL), as the German liner shipping company aims to continue its growth in the South African market.Hapag-Lloyd, which signed the framework agreement in March 2022, said the transaction has already been approved antitrust authorities and that full commercial integration is expected to be completed by the fourth quarter of 2022.Hamburg-headquartered DAL operates four liner services between Europe…

01 Jun 2022

Vane Brothers Achieves 100% Subchapter M Compliance

(Photo: Vane Brothers)

Baltimore-based Vane Brothers announced that its entire tugboat fleet has earned a valid Certificate of Inspection (COI) as part of the U.S. Coast Guard’s Subchapter M program.Subchapter M refers to federally regulated safety standards for inspected towing vessels. All applicable vessels are required to earn a valid COI by July.Vane Brothers president, C. Duff Hughes, said, “Vane Brothers appreciates the importance of safety to the company, our crews, and our customers. Our goal is zero spills and zero incidents…

01 Jun 2022

Russia Says It Is Facing Difficulties Exporting Grain Due to Sanctions on Ships

© Alexander / Adobe Stock

Russian Foreign Minister Sergei Lavrov said on Wednesday that Moscow is facing difficulties exporting grain due to sanctions against its ships."There are also problems with the export of Russian grain... Vessels that carry Russian grain have fallen under sanctions," Lavrov said during a visit to Saudi Arabia.Russia's invasion of Ukraine, which is also a major grain exporter, has driven world food prices higher but Russia blames Western sanctions against it for disrupting its fertilizer and grain exports.(Reuters - Reporting by Reuters)

01 Jun 2022

Marine Insurance: CyNav for Ports & Terminals

Copyright metamorworks/AdobeStock

WTW has launched CyNav for Ports and Terminals, a cyber solution specifically designed to help address the escalating cyber risks faced by owners and operators in this strategically vital sector of the global maritime supply chain. The release of CyNav for Ports and Terminals is a direct response to growing calls from operators for a bespoke product that addresses the specific risks faced by their high-value asset class and closes the gaps found in the standard cyber policies of today’s insurance market.Due to the outsized role its practitioners play in supporting the global economy…

01 Jun 2022

Singapore's New Trade Data Sharing Platform Aims to Stem Fraud

© ake1150 / Adobe Stock

A Singapore trade data sharing platform backed by banks, commodity houses and state firms has signed up 70 participants as part of the city-state's attempts to bolster confidence after a spate of commodity trade finance frauds in recent years.The Singapore Trade Data Exchange (SGTraDex), whose founders include banks DBS and Standard Chartered, commodity trader Trafigura and the local tech regulator, Infocomm Media Development Authority, was launched on Wednesday after plans were announced last year."We're trying to replicate what's happening in the physical world…

01 Jun 2022

Wilhelmsen Increases Ownership in NorSea to 99%

NorSea Dusavik base, Stavanger, Norway. Credit NorSea

Wilhelmsen acquired an additional 24% of shares in NorSea to secure 99% ownership of the Norwegian supply base company.NorSea, a provider of logistics services to the offshore industry for more than 60 years, first welcomed Wilhelmsen as one of the owners in 2012. The latest transaction increases Wilhelmsen's shareholding from 75% to 99%.Today‚Äôs announced increased shareholding was a purchase option that was agreed in 2017 with a set price at $53.3 million.Former partners Eidesvik Eiendomsinvest AS and Simon Møkster Eiendom AS have each sold their shareholdings of circa 12%‚Ķ

01 Jun 2022

Anglo-Eastern Signs Agreement to acquire CMI

Image courtest Anglo-Eastern Univan Group & CMI

Anglo-Eastern Univan Group and the shareholders of Cruise Management International and CMI Leisure Management have signed a letter of intent regarding the sale of CMI to Anglo-Eastern. The move effectively opens up a new sector‚ÄĒexpedition cruising‚ÄĒfor Anglo Eastern's ship management operations. The sale and purchase are expected to be finalized in July 2022, following the standard due diligence. CMI will continue to be based in Miami, from where the group‚Äôs companies will maintain their business and operations.

31 May 2022

First Cargo Ship Leaves Mariupol Since Russia Took the City

© den81 / Adobe Stock

A ship has left the Ukrainian port of Mariupol for the first time since Russia took the city and is headed east to Russia with a load of metal, the Russian-backed separatist leader of the Ukrainian breakaway region of Donetsk said on Tuesday.Ukraine said the shipment of metal to Russia from Mariupol, whose capture gave Moscow an overland bridge linking mainland Russia and pro-Russian separatist territory to annexed-Crimea, amounted to looting."Today 2,500 tons of hot-rolled sheets left the port of Mariupol…

31 May 2022

Iran Urges Greece to Cooperate Over Seized Ships Without US Role

© Andrea Izzotti / Adobe Stock

Iran urged Greece on Tuesday to cooperate to resolve a crisis over the seizure of ships without involving the United States, after Iranian forces seized two Greek tankers in the Gulf following the seizure of an Iranian vessel off Greece.Tehran seized the Greek ships on Friday after Athens impounded the Iranian-flagged Pegas in April. The United States, which has imposed a tough sanctions regime on Iran, confiscated the Iranian oil cargo that was on the Pegas.U.S. and Greek diplomats have called on Iran to immediately release the Greek tankers, their cargoes and their crews. U.S.

31 May 2022

US State Secretary Blinken Condemns Iran's Seizure of Greek Vessels

Secretary of State Antony J. Blinken / State Department Photo by Ron Przysucha / Public Domain (File Photo)

U.S. Secretary of State Antony Blinken on Monday condemned the "unjustified seizure" of two Greek-flagged vessels by Iran's Islamic Revolutionary Guard last week, the State Department said.Iranian forces seized two Greek tankers in the Gulf on Friday, shortly after Tehran warned it would take punitive action against Athens over the confiscation of Iranian oil by the United States from a tanker held off the Greek coast. "Iran's continued harassment of vessels and interference with navigational rights and freedoms are a threat to maritime security and the global economy…

31 May 2022

UK Cancels P&O Ferries Contract Over Job Cuts

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Britain says it has canceled a contract with P&O Ferries "with immediate effect" in its latest action against the DP World-owned company following its decision to axe hundreds of staff earlier this year.The Home Office (interior ministry) said it was ending its agreement with the firm to provide contingency travel services to "juxtaposed ports" where British staff operate border controls in Belgium and France to check passengers and freight destined for Britain.It comes after P&O Ferries…

30 May 2022

Iran Seizes Vessel Carrying Smuggled Fuel, Arrests Crew Members -Tasnim

Credit: Borna_Mir/AdobeStock

Iranian authorities have seized a vessel carrying 106,500 liters of smuggled fuel and arrested nine crew members, the semi-official Tasnim news agency reported on Monday."On the orders of the Qeshm Prosecutor, the officers of the marine base, while identifying a vessel carrying 106,500 litres of smuggled fuel, started the process of seizing it," said the chief justice of Hormozgan province.Iran, which has some of the world’s cheapest fuel prices due to heavy subsidies and the fall of its currency…

28 May 2022

Iran Says Crew of Two Seized Greek Tankers Not Detained and Are On Board

© H. Paling / MarineTraffic.com

Iran's state maritime body said on Saturday the crew of two Greek tankers seized by its Revolutionary Guards on Friday had not been detained, and were in good health and being cared for on board their vessels.Iranian forces seized two Greek tankers in the Gulf on Friday, shortly after Tehran warned it would take "punitive action" against Athens over the confiscation of Iranian oil by the United States from a tanker held off the Greek coast."The crew of the two Greek tankers have not been arrested, and all crew members ...

27 May 2022

Iran Says It Seized Two Greek Tankers

The seized tankers are the Delta Poseidon (pictured) and the Prudent Warrior. (© Dimitris Alipasalis / MarineTraffic.com)

Iranian forces seized two Greek tankers in the Gulf on Friday, Iranian state media reported, shortly after Tehran warned it would take "punitive action" against Athens over the confiscation of Iranian oil by the United States from a tanker held off the Greek coast."The Revolutionary Guards Navy today seized two Greek tankers for violations in Gulf waters," said a Guards statement, quoted by the state news agency IRNA.It gave no further details or say what the alleged violations were.Greek authorities last month impounded the Iranian-flagged Pegas…

27 May 2022

Iran Plans 'Punitive Action' Against Greece Over Tanker Seizure

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Iran has decided to take "punitive action" against Greece over the seizure of Iranian oil off the Greek coast, the semi-official Nour News reported on Friday.Nour News, which is close to a top Iranian state security body, did not say what kind of action Iran would take.Earlier on Friday, Iran summoned the envoy of Switzerland, which represents U.S. interests in Tehran, to protest against the U.S. seizure of Iranian oilfrom a Russian-operated ship near Greece, the foreign ministry said in a statement quoted by Iranian media.(Reuters - Reporting by Dubai newsroom; Editing by Andrew Heavens)

27 May 2022

North and Standard Club Members Approve Merger

(Photo: Standard Club)

Members of the North and Standard Clubs have voted to approve the merger between the two marine insurance firms, creating one of the largest providers of mutual cover in the maritime industries.The P&I clubs, which revealed plans to merge earlier this year, each held special general meetings on May 27 where members voted to greenlight the move to join forces as a single, larger mutual insurer. Pending regulatory approval, NorthStandard is expected to come together as a unified…

26 May 2022

Russia Ready to Set Up Corridor for Ships Leaving Ukraine, With Conditions

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Russia is ready to provide a humanitarian corridor for vessels carrying food to leave Ukraine, in return for the lifting of some sanctions, the Interfax news agency cited Russian Deputy Foreign Minister Andrei Rudenko as saying on Wednesday.Ukraine's Black Sea ports have been blocked since Russia sent thousands of troops into Ukraine on February 24 and more than 20 million tonnes of grain are stuck in silos in the country.Russia and Ukraine account for nearly a third of global…

25 May 2022

Regulators OK Sale of KST and Maju to Rimorchiatori Mediterrane

© A.F. van Rhijn / MarineTraffic.com

Boskalis and its co-shareholder KS Investments Pte. Ltd. (Keppel) have received the approval from the regulatory agencies in Singapore for the sale of their harbor towage providers Keppel Smit Towage (KST) and Maju Maritime in Singapore and Malaysia to Rimorchiatori Mediterranei S.p.A. The intended sale with the regulatory approval as a condition precedent was announced late last year.Boskalis said it  will receive approximately EUR 80 million in cash for its 49% equity stake in the joint venture. The transaction is expected to close at the beginning of the third quarter 2022.

24 May 2022

US Prepares Renewal of Chevron's Venezuela License Without Broader Terms

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The U.S. Treasury Department is getting ready to renew in the coming days Chevron Corp's license to operate in Venezuela, but likely without the greatly expanded terms the U.S. oil major sought, four people close to the talks said.The last U.S. energy producer in Venezuela asked President Joe Biden's government in March for a license that would allow it a greater say in its joint ventures with Venezuela's state-run PDVSA, a first step to reviving output and controlling where oil is sent.In a reversal of earlier hopes for a broadly expanded authorization…

24 May 2022

Tanker Firm Frontline Upbeat About Euronav Tie-up

Credit: Euronav

Frontline signaled optimism over its planned merger with rival Euronav on Tuesday, supported by recovering oil tanker markets in the first quarter and expectations of tight vessel supply in the coming years.The crude shipping market has struggled with low earnings since the pandemic first hit oil transport demand two years ago.This year's sanctions against Russia following the invasion of Ukraine has disrupted trade flows, however, and both crude and oil products take longer voyages to reach European markets…

19 May 2022

Industry Body Calls for More States to Ratify MLC

Deirdre Fitzpatrick, Executive Director of SRI (Photo: SRI)

In a statement submitted to the Special Tripartite Committee (STC) meeting held last week, SRI, the international pan-industry body researching maritime and seafarers’ law, called for more States to ratify the Maritime Labor Convention (MLC) to ensure a level playing field in the shipping industry.At the meeting, Deirdre Fitzpatrick, executive director of SRI said, “More ratifications are needed to bring the Convention on a par with SOLAS, MARPOL and the STCW, the other three…

19 May 2022

Water Treatment: Inside WETT Technology for Oily and Black Water Treatment on Ships

Dr. Ramona Pristavita, Terragon’s Vice President of Engineering, with WETT-O. Photo courtesy Terragon Environmental Technologies

Attracted by the environmental mission of Terragon Environmental Technologies, Dr. Ramona Pristavita, Terragon’s Vice President of Engineering, discusses the operational advances and advantages that Wastewater Electrochemical Treatment Technology (WETT) offers to shipowners.Handling a variety of shipboard waste water efficiently, effectively, is a central tenant to ship operations.Operating in the harsh saltwater environment, with a broad spectrum of ship movements and vibrations…

19 May 2022

Greece Emerging as Hub for Russian Ship-to-ship Fuel Oil Exports

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Russian fuel oil arrivals offshore Greece jumped to record levels in April, as sanctions on Moscow drive traders to find new ways to export Russian oil via ship-to-ship (STS) loadings, Refinitiv Eikon data showed and sources said.Trading Russian crude and oil products remains legal for now as the European Union is yet to fully agree on a proposed embargo, but banking and other financial sanctions on Russia following its invasion of Ukraine on Feb. 24 has made it increasingly more difficult to do so.In April…

19 May 2022

Ship Attacked Off Yemen

The place of the attack marked by the red pin - Credit: UKMTO

A vessel has been attacked 34 nautical miles (63 km) southwest of Yemen's Hodeidah, the United Kingdom Maritime Trade Organisation (UKMTO) reported on its website on Thursday, adding an investigation is underway.British maritime security company Ambrey Intelligence said the incident involved a sailing vessel that managed to escape an attempted boarding from occupants of skiffs, and that the crew has been reported safe.It said the vessel was "likely Hong Kong-flagged" but did not give further details.A U.S.

19 May 2022

Sercel Acquires Geocomp

Image courtesy Sercel

CGG announced today that Sercel, its Sensing & Monitoring division, has acquired Geocomp Corporation, specialized in high-value services and products for geotechnical risk management and infrastructure monitoring. This acquisition gives Sercel access to the US infrastructure market and will accelerate deployment of its S-lynks and S-scan infrastructure monitoring solutions.

18 May 2022

Iran Says It Seized Foreign Ship Smuggling Fuel, Detained Crew

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Iranian authorities seized a foreign ship attempting to smuggle fuel out of the country and detained its crew, state new agency IRNA said on Wednesday.Iran, which has some of the world's cheapest fuel prices due to heavy subsidies and the plunge in value of its national currency, has been fighting rampant fuel smuggling by land to neighboring countries and by sea to Gulf Arab states.The ship, carrying more than 550,000 liters of smuggled fuel, was seized in Gulf waters and escorted to harbor in the southern province of Hormozgan, where it was handed to judicial authorities for investigation, t

17 May 2022

Helix Energy Solutions to Buy Alliance Companies to Boost Presence in Gulf of Mexico Decommissioning Space

One Alliance's liftboats - Credit; Alliance Offshore

U.S.-based offshore oil and gas services firm  Helix Energy Solutions Group is set to buy equity interests of Louisiana-baed Alliance group of companies for $120 million cash at closing, plus the potential for post-closing earnout consideration.Alliance is a Louisiana-based privately held company that provides services supporting the upstream and midstream ‚Äéindustries in the Gulf of Mexico shelf, including offshore oil field decommissioning and ‚Äéreclamation, project management‚Ķ

16 May 2022

Thyssenkrupp Warship Unit Eyes German Shipyard Industry Consolidation

(Photo: Thyssenkrupp Marine Systems)

Germany's second-largest defense group Thyssenkrupp Marine Systems (TKMS) wants to play a leading role in consolidating the German and European shipyard industry, its new Chief Executive Officer told German newspaper Welt am Sonntag."If the road to a European giant is still too difficult, a German champion could be formed first," Oliver Burkhard was quoted by the newspaper as saying.Burkhard said a merger, for example, could be formed with smaller German rivals Luerssen and German…

13 May 2022

Australia Says Chinese Spy Ship's Presence off West Coast 'Concerning'

People’s Liberation Army-Navy (PLA-N) Intelligence Collection Vessel Haiwangxing operating off the north-west shelf of Australia. (Photo: Australia Department of Defense)

A Chinese intelligence ship was tracked off Australia's west coast within 50 nautical miles of a sensitive defense facility, Australia said on Friday, raising concern amid an election campaign about China's behavior in the region.Prime Minister Scott Morrison said the Chinese navy vessel was not in Australian territorial waters but its presence was "concerning"."It is clearly an intelligence ship and they are looking at us and we're keeping a close eye on them," he told reporters.Australia…

12 May 2022

Freight Rates, Ukraine War Boost Euronav's Q1 Core Profit

Credit: Euronav (File image)

Belgian oil tanker and storage operator Euronav on Thursday reported a 30% increase in its quarterly core profit, helped by recovering freight rates and a positive impact from the war in Ukraine."The conflict in Ukraine has driven considerable dislocation in tanker market freight patterns as sanctions and so-called self-sanctioning by market participants has driven ton-mile growth," Chief Executive Officer Hugo De Stoop said in a statement.Ton mile is an industry measure incorporating volumes and distance.Euronav…

11 May 2022

Pick your Poison: NOAA Study Finds Less Air Pollution brings more Hurricanes

A daylight composite of Earth from Aug. 29, 2021 as seen by the NOAA-20 Satellite. In this image, Hurricane Ida can be seen making landfall on the U.S. Gulf Coast while Hurricane Nora spins in the eastern Pacific Ocean. Credit: NOAA

A new study from NOAA finds that reducing air pollution in North America & Europe brings more hurricanes; increased pollution in Asia reduces tropical cyclonesA NOAA study published in the journal Science Advances about four decades of tropical cyclones reveals the surprising result that reducing particulate air pollution in Europe and North America has contributed to an increase in the number of tropical cyclones in the North Atlantic basin and a decrease in the number of these storms in the Southern Hemisphere.

11 May 2022

China Says It Warned US Warship in Taiwan Strait

USS Port Royal (CG 73)  (File photo: Corey T. Jones)

China's military said on Wednesday that it had monitored and warned a U.S. warship that had sailed through the sensitive Taiwan Strait, a mission that happened shortly after China carried out drills near the island.The U.S. Navy's 7th Fleet said the guided-missile cruiser USS Port Royal conducted a "routine" Taiwan Strait transit through international waters "in accordance with international law" on Tuesday, the second such mission in two weeks.The United States has been carrying out such voyages about once a month…

11 May 2022

Brennan Acquires Harbor Offshore

(Photo: J.F. Brennan Company)

Specialty construction firm J.F. Brennan Company announced it has acquired California-based Harbor Offshore, Inc (HOI), a specialist in commercial diving, marine construction, maritime security barriers and submarine cable installation.The acquisition bring submarine cabling and maritime security barrier expertise to Brennan, and it expands Brennan's operations geographically, the company said. With the addition of licensing along the West Coast, Hawaii, and Alaska, Brennan is now operable in all 50 states."This acquisition opens new geographies…

10 May 2022

Ann Phillips Confirmed as Next MARAD Administrator

Ann Phillips (File photo: Gretchen Albrecht / U.S. Navy)

The U.S. Senate on Tuesday confirmed Ann C. Phillips as Administrator of the U.S. Maritime Administration (MARAD), filling a position that has been left vacant at the Department of Transportation (DOT) since January 2021. Phillips was confirmed by a vote of 75-22.Phillips, a retired U.S. Navy rear admiral, takes over as head of the DOT's maritime agency amid continued shipping and supply chain disruption as well as historic levels of government funding for maritime and port infrastructure projects. She succeeds Mark Buzby, who resigned from the role in the wake of the insurrection at the U.S.

10 May 2022

US Importers Turn to Prayer and the President Ahead of West Coast Port Labor Talks

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For more than two years, Isaac Larian has used every available tool to overcome global supply-chain bottlenecks and keep retailers stocked with enough Bratz and LOL Surprise! dolls to meet pandemic demand.Asked how he's preparing for this summer's West Coast port labor talks, the chief executive of Los Angeles-based MGA Entertainment deadpanned, "I'm praying two times a day."Larian and a half-dozen suppliers for major retailers like Walmart WMT.N, Amazon.com AMZN.O and Target…

10 May 2022

Norwegian Cruise Expects Positive Current Quarter Operating Cash Flow

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Norwegian Cruise Line Holdings Ltd forecast operating cash flow to be positive for the current quarter on Tuesday, as the U.S. cruise operator benefits from higher on-board spending and prices with its full fleet back in service.Shares of the company rose about 3% in early trade, as the company also said that booking trends remained strong despite a hit from Omicron variant of the coronavirus and the Russia-Ukraine conflict."We are seeing an explosive showing by consumers, particularly American consumers.

10 May 2022

UN Seeks $144 Million to Offload Decaying Yemen Oil Tanker

Satellite image ©2020 Maxar Technologies

The United Nations will launch a $144 million appeal on Wednesday for an operation to offload a million barrels of crude oil from a tanker stranded off the coast of war-torn Yemen for years which threatens a major environmental disaster.David Gressly, the UN Resident and Humanitarian Coordinator for Yemen, said he hoped a donors conference held with the support of Netherlands in the Hague would quickly mobilize funds to avert a catastrophe on the Red Sea coast and its region.He…

09 May 2022

Ship Insurance Claims to Rise as Black Sea Remains High Risk Area - Allianz

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Global insurers are expected to receive multiple marine insurance claims from ships damaged or lost as the conflict in Ukraine spills over into sea lanes, insurer Allianz Global Corporate & Specialty (AGCS) said in a report on Tuesday.Two seafarers have been killed and six merchant vessels hit by projectiles - sinking two of them - around Ukraine's coast since the start of Russia's invasion of its neighbor on Feb.

09 May 2022

Offshore Wind: Agreement Opens Dutch Waters to Danish Vessels

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A new agreement between Denmark and the Netherlands enhances the competitive situation for Danish ships operating within the offshore sector in the Netherlands.With the agreement, the authorities of the two countries mutually accept that high-speed crafts carry more than 12 industrial personnel when operating in the national waters of Denmark and the Netherlands. Until now, this has been allowed for Danish and Dutch ships in the national waters of Denmark, but only for Dutch ships in the national waters of the Netherlands due to national regulation.According to the Danish maritime Authority…

09 May 2022

US Navy Sets Up New Mideast Task Force

(File photo: Michael Russell / U.S. Navy)

The U.S. Navy on Wednesday said it was establishing a new multinational task force that would target arms smuggling in the waters around Yemen, the latest American military response to Houthi attacks on Saudi Arabia and the United Arab Emirates.Washington has sought to reassure Saudi Arabia and the UAE, who see the U.S. commitment to the region as waning, by providing additional military support in recent months following the missile and drone attacks on the Gulf nations.Fifth Fleet Commander Vice Admiral Brad Cooper said that the task force would…

09 May 2022

Italy Seizes Luxury Yacht Scheherazade Linked to Putin

Credit: Leif Pape / MarineTraffic.com

The Italian government ordered police on Friday to impound a luxury yacht worth some $700 million that has been linked in the media to Russian President Vladimir Putin.The sleek, six-deck Scheherazade had been undergoing repairs in the Italian port of Marina di Carrara since September, but recent activity at the dockside suggested that the crew might be preparing to put to sea.A source with direct knowledge of a weeks-long investigation into the vessel said police believed the owner was Eduard Khudainatov…

06 May 2022

Marco Polo Marine Wraps Buy of Taiwan-based PKR Offshore

Credit: Maurice James Napier / MarineTraffic.com

Singapore-listed offshore services provider Marco Polo Marine has completed the acquisition of the offshore renewables service firm PKR Offshore.Marco Polo bought the Taiwan-based company through its 49% owned joint venture company, Oceanic Crown Offshore Marine Services Ltd, through the completion of its previously announced share purchase agreement with Kerry and POSH.PKR was part of the POSH Kerry Renewables joint venture, a service provider for the offshore renewables sector that offers a suite of services across the entire life cycle of offshore wind projects.

05 May 2022

Fiji Seizes Russian Oligarch Kerimov's $300M Yacht

Credit:Raphael Belly / MarineTraffic.com

Authorities in Fiji have seized a $300 million yacht of Russian oligarch Suleiman Kerimov at the request of the United States, the U.S. Justice Department said on Thursday, as Washington and its allies press Russia over its invasion of Ukraine.A Fiji court had ruled on Tuesday that the United States can seize a Russian-owned superyacht, weeks after it arrived and was impounded by police. Authorities in various countries have seized luxury vessels and villas owned by Russian billionaires in response to sanctions imposed on Russia over its invasion of Ukraine…

05 May 2022

Maersk Finds Potential Buyers for Its Stake in Russian Port Operator

Photo Credit: Global Ports

Maersk has found possible buyers for its stake in Global Ports Investments, which operates ports in Russia as it withdraws from the country following a final cargo shipment this week, the Danish shipping group said on Wednesday.Maersk put its 30.75% share of Global Ports up for sale as it decided to quit Russia because of its invasion of Ukraine.It said talks were taking place with several potential buyers without giving names and that it did not expect to have to give the stake…

05 May 2022

EU Eyes Ban on All Shipping, Financing Services for Russian Oil

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The European Commission has proposed to ban in a month's time all shipping, brokerage, insurance and financing services offered by EU companies for the transport of Russian oil worldwide, an EU source told Reuters on Wednesday.The measure is part of a proposed embargo on Russian oil that is meant to cripple Russia's oil industry. Read full storyProvided the proposal gets the approval of EU governments, all insurance, finance, and shipping services for Russian oil transport would be banned in a month's time…

04 May 2022

United States Can Seize Russian Superyacht, Fiji Court Rules

Image Credit: Jan Wohler - MarineTraffic.com

Fiji court ruled on Tuesday that the United States can seize a Russian-owned superyacht, 21 days after it arrived and was impounded by police, as the United States and its allies press Russia over its invasion of Ukraine.U.S. authorities assert that the luxury vessel, the Amadea, is ultimately owned by Russian oligarch Suleiman Kerimov, who has been sanctioned by the United States and the European Union.The U.S. Justice Department's Taskforce KleptoCapture has focused on seizing…

02 May 2022

Suggestions for Making America’s Marine Highway Program More Effective

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The America’s Marine Highways Program is one of several grant programs administered by the U.S. Maritime Administration (MARAD) to promote more effective use of the nation’s navigable waterways. This particular program was established by Congress in 2007 to provide grants for projects that would promote water-borne alternatives to available landside transportation services, especially for freight carried by trucks.Consistent with this specific goal, the program’s statutory authority…

29 Apr 2022

Sanctions Tighten Screws on Russia's Sovcomflot as Ship Insurers Cut Cover

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Western ship insurers are terminating cover for Russia's leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for the state-owned company and Moscow's efforts to export oil and gas.Russia's maritime sector is seeing the wind down of multiple services, including ship certification by leading foreign providers - vital for accessing ports and securing insurance - shipping companies pulling out and ship engine…

29 Apr 2022

Paramount Launches New Gulf Of Guinea Patrol Vessel

(Photo: Paramount Maritime)

A new high-speed, multipurpose naval vessel Tuguemi has been christened in Hamlet Quay in Elliot Basin, Cape Town, South Africa, builder Paramount Maritime announced. The 35m Sentinel vessel is optimized for coastal patrols and cargo transfer duties, among a myriad of other mission assignments that the multipurpose vessel can perform. It will be deployed in the greater Gulf of Guinea region, a recognized hotspot in 2022 for oil and gas piracy, bunkering and kidnapping activities…

28 Apr 2022

SAAM Buys Ian Taylor Towage Business in Peru

(Photo: SAAM Towage)

SAAM Towage reported that it has signed an agreement with Ian Taylor to acquire the company's towage operations in Peru, which currently provides services with four tugs at the ports of Callao and Paita.“This agreement, just like the acquisition in Canada of Standard Towing and Davies Tugboats formalized a few weeks ago, is part of our strategy to lead the consolidation process taking place in the towage industry. It will enable us to continue to strengthen our presence along the Pacific Coast…

27 Apr 2022

Indonesia Deploys Navy Ships to Thwart Ilegal Shipments of Refined Palm Oil

For illustration only - An Indonesian Navy vessel - ©Reezky/AdobeStock

Indonesia deployed navy ships and hundreds of personnel on Wednesday, including intelligence assets, in an effort to thwart illegal shipments of refined palm oil olein, just hours away from an export ban aimed at taming surging cooking oil prices.The new rules were due to take effect at midnight local time (1700 GMT), and the navy and other agencies had been instructed to step up patrols of Indonesian waters to ensure compliance, said navy spokesperson Julius Widjojono.Palm oil futures on the Malaysia exchange surged by 9.8% on Wednesday‚Ķ

27 Apr 2022

IMO Urges States to Accede to 2012 Cape Town Agreement on Fishing Vessel Safety

Credit: IMO

International Maritime Organization's (IMO) Secretary-General Kitack Lim has urged states to take action to achieve entry into force of the Cape Town fishing vessel safety agreement, a key international treaty that will establish an international regime for fishing vessel safety.IMO said the agreement would help make fishing safe, sustainable, and legal - and make a significant contribution to the protection of fishers, an unacceptably high number of whom lose their lives every year."We cannot afford to be complacent when it comes to addressing the safety of fishers and fishing vessels…

27 Apr 2022

Offshore Rig Builders Keppel O&M and Sembcorp Marine Set to Combine

Caption: From left: Mr Loh Chin Hua, CEO of Keppel Corporation and Chairman of Keppel O&M; Mr Chris Ong, CEO of Keppel O&M; Mr Wong Weng Sun, President & CEO of Sembcorp Marine, and Tan Sri Mohd Hassan Marican, Chairman of Sembcorp Marine at the signing of definitive agreements between Keppel Corporation and Sembcorp Marine for the Proposed Combination of Keppel Offshore & Marine and Sembcorp Marine.

Singapore's Sembcorp Marine (Sembmarine) has agreed to a multi-billion dollar merger with Keppel Corp's larger offshore and marine unit, a year after the Temasek-backed firms began deal talks to cope with an industry downturn.The loss-making oil rig builders have been whiplashed by years of oversupply and oil price volatility as well as a drop in new orders.Such troubles have been exacerbated by the global transition towards renewable energy, consolidation at Chinese and South Korean rivals…

26 Apr 2022

India's ONGC Struggling to Move Russian Oil

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India's Oil and Natural Gas Corp (ONGC) is struggling to find a vessel to ship 700,000 barrels of crude from Russia's Far East, in a growing sign that complex trades involving one of Moscow's biggest partners are being interrupted by Western sanctions, sources say.Several Indian companies including ONGC have stakes in Russian oil and gas assets, and India has been buying more Russian crude since Moscow invaded Ukraine, snapping up the popular Urals crude grade, while other buyers…

25 Apr 2022

Houthis Release Crew of Seized Emirati Cargo Vessel

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The Houthi movement that controls most of northern Yemen has released the crew of the United Arab Emirates cargo ship Rwabee that was seized on January 3, the group's spokesman said on Monday.The release of the crew - 11 in all according to sources familiar with the matter - was agreed with the assistance of Oman, spokesman Mohammed Abdulsalam said in a tweet.He said a detained British man was also released. He did not provide more details. Oman's Foreign Ministry said on Sunday…

25 Apr 2022

K&L Gates Adds Maritime Lawyer in Houston

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Global law firm K&L Gates LLP has added Felisa Sanchez as of counsel in the maritime and finance practices. She joins the firm’s Houston office from Foley & Lardner LLP.Sanchez focuses her practice on a wide variety of corporate, finance, and commercial matters for domestic and international clients in the financial services, maritime, transportation, and energy sectors. She has nearly 20 years of experience representing public and private companies in complex transactions, including maritime financings and restructurings…

25 Apr 2022

Iran Guards Seize Foreign Ship in Gulf for Smuggling Fuel

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Iran's elite Revolutionary Guards have seized a foreign vessel in the Gulf for smuggling 200,000 liters of fuel, a senior Guards commander told the semi-official Fars news agency on Sunday."The ship was seized in the northern part of the Persian Gulf.