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John McDonald Named ABS President
ABS Chairman and Chief Executive Officer, Christopher J. Wiernicki, and the Board of Directors have announced that John McDonald was elected President of ABS at its Board meeting on July 18. McDonald, who has served as Executive Vice President and Chief Operating Officer of the company since July 2021, will take on the title of President and remain the Chief Operating Officer of the company.“John McDonald…
$560M Explora I Delivered for MSC's New Luxury Cruise Brand
MSC Group Cruise Division -- Explora Journeys -- saw the launch by Fincantieri of Explora I, the first of four new luxury cruise vessels for MSC's new luxury travel brand. The first ship cost $560m, part of a four-ship newbuild plan for a cumulative $2.6B.The event was attended by Gianluigi Aponte - Founder and President of the MSC Group, Pierfrancesco Vago - Executive President of the Cruise Division of the MSC Group…
Iran Warns Against Unloading Iranian Oil from Seized Tanker
Iran would retaliate against any oil company unloading Iranian oil from a seized tanker, the Revolutionary Guards' navy commander Alireza Tangsiri said on Thursday, according to state media.
Russia Carries Out Air Strikes on Ukraine's Odesa Port
Ukrainian air defence systems were engaged in the early hours of Wednesday in repelling a Russian air attack on the southern port of Odesa for a second consecutive night, the region's governor said.Russia struck Ukrainian ports on Tuesday, a day after pulling out of a U.N.-backed deal for safe Black Sea grain exports, a decision that raised concern primarily in Africa and Asia of rising food prices and hunger."Do not approach the windows…
Why Does the Black Sea Grain Deal's Expiry Matter?
A deal allowing Ukraine to export grain via the Black Sea will expire at the end of Monday after Russia said it will suspend its participation.The deal, brokered by the United Nations and Turkey last July, aimed to alleviate a global food crisis by allowing Ukrainian grain blocked by the Russia-Ukraine conflict to be exported safely.WHY IS IT IMPORTANT?Ukraine is a major producer of grains and oilseeds…
UN Scrambles to Save Black Sea Grain Deal Ahead of Monday Deadline
The European Commission is helping the United Nations and Turkey try to extend a deal allowing the Black Sea export of Ukraine grain and is open to "explore all solutions," a European Union spokesperson said on Thursday, ahead of the deal's possible expiration on Monday.The U.N. and Turkey brokered the Black Sea Grain Initiative with Russia and Ukraine in July 2022 to help alleviate a global food crisis worsened by Moscow's invasion and blockade of Ukrainian ports.
UN Asks Putin to Extend Black Sea Grain Deal in Return for SWIFT Access
U.N. Secretary-General Antonio Guterres has proposed to Russian President Vladimir Putin that he extend a deal allowing the safe Black Sea export of grain from Ukraine in return for connecting a subsidiary of Russia's agricultural bank to the SWIFT international payment system, sources told Reuters.Russia has threatened to ditch the grain deal, which expires on Monday, because several demands to dispatch its own grain and fertilizer abroad have not been met.
Cheniere Shunning Panama Canal for Longer LNG Routes to Asia
Top U.S. LNG exporter Cheniere Energy LNG.A is shunning the Panama Canal to transport liquefied natural gas to Asia because the market is not supporting use of the waterway, said Chief Operating Officer Corey Grindal on Monday.The Panama Canal historically has been used by U.S Gulf Coast LNG exporters to send LNG to Asian customers via the Pacific Ocean. But a months-long drought has led to delays…
What Happens if Black Sea Grain Corridor Deal is Not Extended?
A deal allowing Ukraine to export grain via the Black Sea expires on July 17 and with Moscow saying it sees no grounds for an extension there are fears it may collapse.Why is it important?Ukraine is a major producer of grains and oilseeds and the interruption to its exports at the outbreak of war pushed global food prices to record highs. The current deal, agreed in July 2022 some five months after the war started…
Spain Possibly Locates Missing Boat Carrying 200 Migrants, Sends Help
A Spanish reconnaissance plane has found what could be a fishing vessel from Senegal with about 200 migrants on board that has been missing for nearly two weeks, the maritime rescue service said on Monday."The plane has found a large boat with some 200 people on board, 71 miles to the south of Gran Canaria," a spokesperson for the service told Reuters, adding it was "possible" that it was the missing…
Inside the Subsea Cable Firm Secretly Helping America Take on China
On Feb. 10 last year, the cable ship CS Dependable appeared off the coast of the island of Diego Garcia, an Indian Ocean atoll that’s home to a discreet U.S. naval base.Over the next month…
Coast Guard and Local Authorities Join Forces in Response to Port Newark Vessel Fire
A Unified Command has been established to continue response to the fire aboard Grimaldi cargo vessel Grande Costa D’Avorio, which caught fire Wednesday night around 9:30 PM at the Port of Newark, an incident in which two firefighters died Thursday.The U.S. Coast Guard, Port Authority of New York and New Jersey, Newark Fire Department, and Gallagher Marine Systems (as representative of the ship operator) have established a Unified Command in Port Newark…
Fire on Italian-Flagged Ship at Port of Newark Leaves Two Firefighters Dead
Two firefighters died in a tragic incident at the Port of Newark, New Jersey, in an attempt to extinguish a fire that broke out 9:30 pm, (EST) on the ro/ro vessel Grande Costa d’Avorio, operated by Grimaldi Deep Sea, a subsidiary of the Grimaldi Group. The Italian-flagged ship was engaged in the loading operations of various rolling units, such as vans, cars, and trucks, when the fire started on deck number 10…
MPA Singapore and LR Sign ‘Silk Alliance’ MoU
Lloyd’s Register Maritime Decarbonisation Hub and the Maritime and Port Authority of Singapore (MPA) have signed a Memorandum of Understanding (MoU) aimed at collaborating on a fleet-specific decarbonisation strategy for ‘The Silk Alliance’ cross-industry initiative to enable zero-emission shipping across the Indian and Pacific Oceans.The collaboration includes driving investments into scalable fuel…
Survivors of Greece Boat Disaster Say Coastguard Rope Toppled Boat
Survivors of a boat disaster that likely killed hundreds of migrants near Greece have given accounts of traffickers in North Africa cramming them into a clapped-out fishing trawler. They recounted hellish conditions above and below deck, with no food or water.Some also said the tragic end, when it came, was precipitated by the actions of the Greek coastguard. They have told judicial authorities of…
Concerns Over Anti-Piracy Efforts Raised at UN Security Council
While piracy in the Gulf of Guinea has been declining since 2021, concerns have been raised about staffing, equipment and finance needed to continue anti-piracy efforts in the region.There are several challenges holding back the full operationalization of the Yaoundé Architecture, said Martha Ama Akyaa Pobee, Assistant Secretary-General for Africa, Department of Political and Peacebuilding Affairs - Department of Peace Operations at the United Nations…
SUMED Taps Thordon to Equip Pipeline Service Boats
Egypt’s SUMED pipeline operator Arab Petroleum Pipeline Company (SUMED) has completed the tailshaft conversion to Thordon’s SXL seawater-lubricated bearing system for seven special purpose single point mooring (SPM) service boats.The final vessel in a series of 17.5m (57.4ft) long, 1976–built service boats had its original oil-lubricated tailshaft bearings replaced with the Thordon system at Nefertiti Marine’s Yard-K, in Rosetta Nile, in December 2022.
Elisabeth Cosmatos Appointed President of The Heavy Lift Group
Elisabeth Cosmatos, Managing Director of Cosmatos Group, has been elected President of The Heavy Lift Group (THLG), an international association for specialised heavy transport companies.The appointment was made as part of the executive committee election during the 68th THLG Conference on June 5.Taking over from FOX Brasil’s Murilo Caldana, Cosmatos becomes THLG’s first female president. She is joined on the executive committee by Rhenus Projects’ Colin d’Abreo…
Offshore Oil Spending to Rise More Than 20% This Year
Offshore oil and gas exploration spending will increase more than 20% globally this year and the growth will continue into the next, oilfield services firm SLB said on Wednesday."Offshore is experiencing a renaissance, with significant breadth and anticipated durability," SLB Chief Executive Olivier Le Peuch said at the JP Morgan Energy Power and Renewable Conference, according to a draft of the speech posted on the company's website.SLB, the world's largest oil services and equipment provider,
The Evolving FPSO Landscape – Healthy Demand, Changing Procurement
After a slowdown in activity during 2020/2021 due to soft commodity prices, demand for FPSOs is picking up.With exploration hotspots like Namibia’s Orange Basin and the East Mediterranean delivering new finds, the FPSO market outlook is healthy. But shipyard capacity constraints are beginning to weigh on delivery, leading to cost concerns. Furthermore, FPSO demand is competing for yard space with other construction projects.To mitigate delay risk and cost overruns…