Oil Tanker Rates are Soaring
Oil tanker rates are soaring globally as traders scramble to cope with jitters over possible disruption in Russian supplies, as well as war risk premiums for ships plying the Mediterranean region following Moscow's invasion of Ukraine.Shipowners are also grappling with higher fuel costs after oil prices soared nearly $2 per barrel on Friday, with Brent back above $100. The global energy sector is concerned…
COSCO Shipping Suspends Services in Ukraine
The container shipping arm of China's COSCO Shipping said on Friday that it will stop accepting new bookings for cargoes to and from Ukraine, the latest shipping group to take such action after Russia launched an invasion of Ukraine.The company's vessels already en route to Ukraine will be re-directed to elsewhere available, COSCO Shipping said, without giving further details.(Reporting by Muyu Xu and Florence Tan; Editing by Susan Fenton)
Turkey Can't Stop Russian Warships Accessing Black Sea, Says Foreign Minister
Turkey cannot stop Russian warships accessing the Black Sea via its straits, as Ukraine has requested, due to a clause in an international pact that allows vessels to return to their home base, the Turkish foreign minister said on Friday.Ukraine has appealed to Turkey to block Russian warships from passing through the Dardanelles and Bosphorus straits which lead to the Black Sea, after Moscow on Thursday launched a full-blown assault on Ukraine from land, air, and sea.
VIDEO: Coast Guard Rescues Nine People From Burning Jack-up Rig in Texas
The U.S. Coast Guard rescued nine people Thursday from a burning jack-up drilling rig near Sabine Pass, Texas.Coast Guard Sector Houston-Galveston watchstanders received a notification at 12:51 p.m. from the dredging vessel Ohio that the Pride Wisconsin offshore drilling rig was on fire in Sabine Pass with nine people aboard.Watchstanders issued an urgent marine information broadcast and launched a…
Strong Interest in New York Bight Offshore Wind Auction – No Declared Winner After Day 2
When bidding for six leases in the New York Bight commenced on Wednesday morning, the minimum option price to secure development rights was set at close to $49 million. After the first day, 13 active bids had resulted in cumulative bids of over $1.5 billion. At the end of the second day, bidding closed at a total of $3.35 billion. Bidding is set to continue until six leaseholders are identified.The auction reflects the increased interest and confidence in the opportunities provided by the U.S.
Partners Aim to Develop Solid Oxide Fuel Cell Technology for Ships
The Korea Register (KR) has signed an MOU agreement with STX Energy Solutions (STX ES) and Daewoo Shipbuilding & Marine Engineering (DSME) to work together on ‘The technology standardization and commercialization of solid oxide fuel cells.’The agreement was signed to facilitate the development of a future power generation system through the sharing and application of technology and research resources…
Coin Ceremony Held for MSC's Explora I
A coin ceremony has been held for Explora I, the first of four luxury cruise ships ordered by the Cruises Division of MSC Group for its new luxury brand Explora Journeys, at Fincantieri’s shipyard in Monfalcone, Italy.The vessel, whose construction began in June 2021, will enter service in May 2023 and is the first of four ships on order worth more than €2 billion, each with a gross tonnage of approximately 64,000 tons.
Major Buyers of Russian Oil Struggle with Bank Guarantees
The global oil market was thrown into chaos on Thursday after Russia invaded Ukraine, with top buyers of Russian oil struggling to secure guarantees at Western banks…
NATO Leaves Black Sea Exposed as Russia Invades Ukraine
When Russia attacked Ukraine, the nearest naval vessel of a major NATO ally was in the Mediterranean. The last such ship from a major naval member of the Western military alliance left the Black Sea – an area roughly the size of California bordering Russia, Ukraine and NATO members Turkey, Bulgaria and Romania – over a month ago.A French warship completed a tour in early January and no major NATO naval ally has patrolled its waters since…
USCG's First Polar Security Cutter to be Named Polar Sentinel
The first ship in the U.S. Coast Guard's Polar Security Cutter program will be named Polar Sentinel, Commandant Admiral Karl Schultz revealed in his 2022 State of the Coast Guard Address, delivered Thursday in Clearwater, Fla.The Polar Security Cutter program is planned to replace the Coast Guard's aging fleet of icebreakers, including the 46-year old heavy icebreaker USCGC Polar Star and 23-year-old medium icebreaker USCGC Healy.Pascagoula, Miss.
Ailing Mariner Medevaced from Car Carrier off Georgia
An ailing crew member was medevaced from the car carrier Morning Capo approximately 12 miles east of Brunswick, Ga., the U.S. Coast Guard said.Marine Safety Unit…
GTT Tallies Tank Design Order from Hyundai Samho
French engineering firm GTT announced it has received an order from Korean shipyard Hyundai Samho Heavy Industries for the tank design of two new liquefied natural gas (LNG) carriers on behalf of an African ship-owner.As part of this order, GTT will design the tanks of the vessels which will offer a cargo capacity of 174,000 cubic meters. Each will be fitted with the GTT Mark III Flex membrane containment system.The vessels are scheduled for delivery in the first quarter of 2025.
Cargotec, Konecranes Win EU Antitrust Approval for $5 Billion Merger
Cargotec and Konecranes on Thursday won EU antitrust clearance for their 4.5-billion-euro ($5 billion) deal to create a global leader in industrial machinery after agreeing to divest some businesses.The companies, which provide road and sea-cargo handling machinery and services to industries, factories, ports and terminals, announced their tie-up in October last year.The European Commission said the…
Germany's HHLA Pays Odessa Port Employees Month in Advance
German logistics and transportation company Hamburger Hafen und Logistik (HHLA) is paying its 480 employees at the port of Odessa a month’s salary in advance so they can stock up on goods after the Ukrainian port was closed on Thursday.“HHLA as a group is not endangered in its substance by the events in Odessa,” said Chief Executive Angela Titzrath in a statement, adding that all HHLA employees had left the terminal.Titzrath added that the company expected that its employees would be able “to co
Ukraine Shuts Ports as Conflict Threatens Grain Supplies
Ukraine's military has suspended commercial shipping at its ports after Russian forces invaded the country, an adviser to the Ukrainian president's chief of staff said, stoking fear of supply disruption from the leading grain and oilseeds exporters.Russia earlier suspended the movement of commercial vessels in the Azov Sea until further notice, but kept Russian ports in the Black Sea open for navigation…
Turkish-owned Ship Hit by Bomb off Coast of Odessa
A Turkish-owned ship was hit by a bomb off the coast of Ukraine's port city Odessa on Thursday, Turkey's Maritime General Directorate said, adding there were no casualties and the ship was safely en r
HII Promotes Hughes and Jacobs
Global engineering and defense technologies provider Huntington Ingalls Industries (HII) announced today the promotion of Edmond Hughes to executive vice president and chief human resources officer. Hughes, formerly the vice president of human resources and administration contracts at HII’s Ingalls Shipbuilding division and at Northrop Grumman Shipbuilding since 2006, will replace William “Bill” R. Ermatinger, who will retire on April 1 after 35 years of service.
AET Names Dual-fuel VLCC Eagle Valence
Tanker operator AET announced it has named its new dual-fuel very large crude carrier (VLCC) Eagle Valence.Named during a virtual ceremony at Samsung Heavy Industries (SHI) in Geoje, South Korea, the 300,000 dwt newbuild is the first of two liquefied natural gas (LNG) dual-fuel VLCCs being built for long-term charter to Chartering and Shipping Services SA, a wholly owned subsidiary of TotalEnergies SA…
Equinor, Altera Pen Deal to Deploy Petrojarl Knarr FPSO at Long-stalled Rosebank Project
Norway's Equinor has confirmed to Offshore Engineer that it has signed an agreement with FPSO owner Altera Infrastructure that could see the Petrojarl Knarr FPSO redeployed at the long-stalled Rosebank project in the UK North Sea. The FPSO is currently producing oil from Shell's Knarr field, offshore Norway, where it has been since early 2015. In April 2020 Shell extended the Knarr contract to March 2022.The Rosebank field…
Offshore Wind Development Moves Forward in the New York Bight
The New York Bight auction is made up of six leases containing an estimated 5.6 GW of bottom-fixed offshore wind capacity that can serve New York and New Jersey offshore wind requirements, amongst others. Till now, New York and New Jersey have secured a combined capacity of 8.1 GW from offshore wind developers from a target to install 16.5 GW of offshore wind by 2035.On Wednesday, bidding started at $24…
