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Getting the Work Right: Coordinating Money, Time and Big Projects
I. MoneyNo one ever said it’s easy to understand federal budgets and spending plans. Nevertheless, a general sense of clarity and straightforwardness is critical for any review of public expenditures. This becomes more pressing when tracking revenue and expenditures linked to specific users’ fees, such as the $0.29/gallon fuel tax, paid by inland waterways operators. In 2021, the Inland Waterways Trust Fund (IWTF) held $221.5 million…
Lukoil-backed Congo Project to Start Producing LNG in December
A senior executive at Russia's Lukoil energy company said a project in the Congo in which it is involved would begin producing liquefied natural gas (LNG) in December, Russian news agencies reported. Lukoil Vice President Ivan Romanovsky said the initiative would produce around 600,000 tonnes of LNG per year, and that Lukoil plans to boost total LNG output at the Marine XII oil and gas project in the Congo to 3 million tonnes by the end of 2025.Lukoil acquired a 25% stake in Marine XII in 2019.
Vattenfall Picks Port for Giant Norfolk Offshore Wind Zone
Renewable energy developer Vattenfall has selected the port at Great Yarmouth, run by infrastructure specialists Peel Ports, as the preferred location for the operations and maintenance base for the Norfolk Offshore Wind Zone.When completed, Vattenfall’s Norfolk Offshore Wind Zone will be able to power around 4.6 million households.According to Peel Ports around 130 new jobs would be created with staff directly employed for the lifetime of the project which is around 35 years.
WCI: 20 Years of Success and Still More to Come
Waterways Council, Inc. (WCI) recently held its annual Washington, D.C. meetings that included a Capitol Hill fly-in. WCI members from across the country participated in 100 meetings with House and Senate members to advocate for the nation’s inland waterways to ensure its reliability by modernizing its infrastructure.Meeting with stalwart champions of the inland waterways as well as newly sworn in…
Nord Stream Owners Looking to Seal and Drain Damaged Gas Pipeline to Halt Corrosion
Shareholders of the Nord Stream 1 pipeline operator are discussing how to seal and empty the damaged gas pipeline to halt corrosion from sea water, said the chief financial officer of E.ON, one of the owners.The chief financial officer of E.ON, one of the stakeholders, told reporters at the group's results news conference that it was unclear whether the pipeline would be repaired but that any forthcoming…
Seafarer Abandonment Is on the Rise
In troubling news for the maritime sector, new data from RightShip shows reported rates of seafarer abandonment is on the rise with no signs of slowing down.U.K.-based RightShip, which provides an online safety and environmental risk management system for the global maritime industry, said 9,925 seafarers have been cast adrift over the last 20-years, including 1,682 impacted by 103 vessels marked as…
At Least 21 Confirmed Dead in Gabon Ferry Accident
Search teams in Gabon have recovered the dead bodies of 15 passengers of a ferry that sank off the West African country's coast last week, bringing the provisional death toll up to 21, the coordinator of rescue operations said on Tuesday.The Esther Miracle ferry was carrying 161 passengers from Libreville to Port-Gentil when it sank close to the coastal village of Nyonie on March 9.Authorities confirmed six deaths on Monday and were still searching for 31 missing people.
Offshore Wind Hub Planned at Avondale Global Gateway in Louisiana
An offshore wind hub is coming to the site of the former Avondale Shipyard in Louisiana as the region ramps up to service the growing renewable energy industry in the U.S. Gulf of Mexico.New Orleans-based Gulf Wind Technology (GWT) announced Monday it is collaborating with energy supermajor Shell to establish a research, training and technology demonstration program at GWT’s facility within the Avondale…
Talks Underway on Black Sea Grain Deal Extension in Geneva
Negotiations began on Monday between U.N. officials and Russian Deputy Foreign Minister Sergei Vershinin on a possible extension to a deal allowing the safe export of grain from Ukraine's Black Sea ports, the Russian diplomatic mission in Geneva said.The Black Sea grain initiative, brokered between Russia and Ukraine by the United Nations and Turkey last July, aimed to prevent a global food crisis…
Italy Coastguard Launches Multiple Rescues, Over 1,000 Migrants 'In Danger'
The Italian coastguard launched multiple rescue operations on Friday to save hundreds of migrants packed aboard several boats off the toe of Italy, less than two weeks after at least 73 drowned in a shipwreck."More than 1,000 people are in danger," the coastguard said in a statement.The president of the southern Calabria region, Roberto Occhiuto, said a total of around 1,300 migrants were aboard boats…
Vard to Design, Build Cable Layer for NCT Offshore
Shipbuilder and designer Vard, part of Fincantieri, said Friday that it had secured a contract to design and build a cable laying vessel for NCT Offshore in Denmark.The VARD 9 01 design vessel is designed by Vard Design in Ålesund, Norway. The hull will be built at Vard Tulcea in Romania, while the final outfitting, commissioning, and delivery will be carried out by one of Vard’s shipyards in Norway.
Germany Raids Suspected Ship in Nord Stream Pipeline Blast Probe
Western allies on Wednesday warned against reaching premature conclusions on who was responsible for blowing up the Nord Stream pipelines, with Germany suggesting the attack could also have been a "false flag" operation to blame Ukraine.A New York Times report, citing intelligence reviewed by U.S. officials, said on Tuesday a pro-Ukrainian group may be behind the blasts that became a flashpoint between the West and Russia after last year's Russian invasion of Ukraine.The report…
New Intelligence Points to Pro-Ukraine Group in Nord Stream Attack
New intelligence reviewed by U.S. officials suggests that a pro-Ukraine group - likely comprised of Ukrainians or Russians - attacked the Nord Stream gas pipelines in September, but there are no firm conclusions, the New York Times reported on Tuesday.There was no evidence that Ukrainian President Volodymyr Zelenskiy or other Ukrainian government officials were behind the attacks which spewed natural gas into the Baltic Sea, the newspaper reported, citing U.S.
Discovery: Historic Shipwreck Found in Lake Huron
Researchers from NOAA, the state of Michigan, and Ocean Exploration Trust discovered an intact shipwreck resting hundreds of feet below the surface of Lake Huron. Located within NOAA's Thunder Bay National Marine Sanctuary, the shipwreck has been identified as the sailing ship Ironton. Well preserved by the cold freshwater of the Great Lakes for over a century, the 191-ft. Ironton rests upright with its three masts still standing."Using this cutting-edge technology…
US Retailers' Ocean Shipping Price Woes Ending as New Delays Threaten
Collapsing ocean shipping rates are not all good news for U.S. retailers, who paid as much as $20,000 to move a container of goods during the worst pandemic disruptions, as they now are bracing for delays due to plummeting demand.Carriers like MSC and Maersk are trying to prop up prices by cancelling voyages and that could spark a new round of cargo delays as containers get bumped from one ship to the next, experts said ahead of a major U.S.
Bangladesh Powers Ship Recycling Market
It is the Bangladeshi market that has been impressing everybody of late (and for yet another week) with a lot of pent-up demand being realized and even news of some choice purchases at decent numbers on units that have managed to receive L/C approvals.Indeed, we have once again seen levels over $600/LDT in Bangladesh for the first time since the same time last year, and competing markets are increasingly…
What is 'Hybrid-ready'?
There are vessels on order today—including crew transfer vessels (CTV) being built in the U.S. (American Offshore Services at Blount Boats and for WINDEA CTV at St. Johns Ship Building and Gulf Craft, for example)—that are described as “hybrid-ready”. Of course, a vessel is either hybrid or it isn’t. So what does hybrid-ready mean?When asked about the hybrid-ready CTVs that Blount Boats is building…
China Boosts Australian Coal Imports
Chinese utilities and traders have stepped up purchases of Australian coal in February, encouraged by signs of further policy relaxation after trade partially resumed last month following a two-year hiatus.In early January, Beijing gave permission to four government-backed firms, comprising steel giant Baowu Group and three state utilities, to ship in Australian coal, the first sign of an easing of the unofficial import ban in place since late 2020.
Russia Targets Dutch North Sea Infrastructure, MIVD Says
Russia has in recent months tried to gain intelligence to sabotage critical infrastructure in the Dutch part of the North Sea, Dutch military intelligence agency MIVD said on Monday.A Russian ship has been detected at an offshore wind farm in the North Sea as it tried to map out energy infrastructure, MIVD head General Jan Swillens said at a news conference.The vessel was escorted out of the North Sea by Dutch marine and coast guard ships before any sabotage effort could become successful…
Ship Scrapping Business Picks Up with Dry Bulk Swoon
This week, several more sales have registered as sub-continent ship recycling markets come roaring back – and a previously subdued Bangladesh starts to seemingly find some form once again, with some workable L/Cs from privately financed (rather than state controlled) banks.Despite the ongoing discussions about an IMF loan in the amount of about USD 2 - 3 billion, end buyers have been working to find…
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