US Issues Fresh Sanctions Targeting Iran's Oil Sector
The United States on Monday imposed fresh Iran-related sanctions targeting the Islamic Republic's oil sector, including the Iranian Ministry of Petroleum, in Washington's latest move to increase pressure on Tehran.The U.S. Treasury Department in a statement said it was slapping sanctions on key actors in Iran's oil sector for supporting the Quds Force, the elite foreign paramilitary and espionage arm…
Container Lines Expect US Import Binge to Lose Steam
Surging shipments into the United States are fueling record high freight costs and logjams at seaports, but transportation executives say the rally will lose steam with a second wave of COVID-19 restrictions on the cards.Container shipping companies, which move goods for customers including Amazon.com and Walmart, got stung late last year and early this year when COVID-19 halted trade around the world, and they question whether the U.S.
Gibbs & Cox Establishes Houston Office
Naval architecture and marine engineering firm Gibbs & Cox announced it is expanding its services into Houston with the aim to generate revenue in non-naval markets, develop and sell new products and/or services to non-traditional clients and contribute to existing programs."Over the last several months, we have hired a number of staff from the Houston area and expect this trend to continue as we continue to grow with our recent contract wins…
Heavy Lift Vessel Heads to St. Simons Sound for Golden Ray Salvage
A specialized heavy-lift vessel departed the Port of Fernandina, Fla. Monday en route to Georgia's St. Simons Sound, where it will be used by salvage crews to cut and lift sections of the capsized car carrier Golden Ray.The U.S. flagged VB 10,000 is expected to reach the St. Simons Sound in the early hours on Tuesday and remain on scene for a minimum of eight weeks, plus any extra time required for weather stoppages or other unforeseen circumstances…
Canadian Nuclear Laboratories Studying Maritime Decarbonization Technology
Canada’s premier nuclear science and technology laboratory is examining opportunities to reduce greenhouse gas emissions and other pollutants from marine vessels in Canada.Canadian Nuclear Laboratories (CNL) said Monday it has been awarded a contract by Transport Canada to develop an assessment tool to examine clean technologies that could reduce greenhouse gas emissions and the release of other pollutants from vessels.
Costa Cruises Completes Italy's First LNG Bunkering
Carnival Corporation's Costa Cruises brand said its liquefied natural gas (LNG)-powered flagship Costa Smeralda has become he first vessel to bunker LNG in Italy.Carried out in the port of La Spezia and completed at 6 p.m. on Sunday, the operation was supported by the Italian Coast Guard, Port Authority of Eastern Ligurian Sea, local authorities and Shell, which is the LNG supplier partner for Costa Group and its parent company…
Lomar Promotes Georgiou to CEO
Nicholas Georgiou has been promoted to Chief Executive Officer of ship owning and management business Lomar, its parent company the Libra Group announced. Georgiou has been Lomar’s Chief Operating Officer since 2010 and succeeds Achim Boehme, who passed away from cancer in July.George Logothetis, Chairman and CEO of the Libra Group, says, “This announcement has long been in our succession planning, with Achim due to have become Chairman of Lomar.
BMT Names Behrendt Global Strategy and Innovation Director
Multidisciplinary engineering firm BMT said it has appointed Peter Behrendt as its global Director of Strategy and Innovation.Behrendt joined BMT in 2017 as Managing Director for the Australian Defense and Security business, a role that he has now handed over to Chelly Litster, who has been with BMT since the acquisition of Effectiva in 2018.Behrendt's background includes operational, commercial, and business development positions within leading international companies…
Siemens, Carlyle Near $2.4 Billion Deal Over Flender Business
U.S. buyout group Carlyle Group Inc is nearing an agreement to acquire Siemens AG's mechanical drive arm Flender, for about 2 billion euros ($2.37 billion), Bloomberg News reported citing sources.Siemens and Carlyle are finalizing terms of the deal that could be announced as early as this week, the report said.Last week Siemens had asked Triton, Carlyle, CVC and Brookfield to submit final offers next week for the business…
DP World Expects 'Relatively Stable' 2020 Financial Performance
International port operator DP World is on track to report a “relatively stable financial performance” this year after the recording a 3.1% increase in third-quarter shipping container volumes, its chairman said on Monday.The Dubai state-owned company, which reported contractions in container volumes in the first two quarters, handled 18.3 million containers in the July - September period, it said.The…
FSO Nabarima Is 'Upright' but Crude Transfer Could Be Risky
A Venezuelan floating oil facility that had been listing in recent weeks is upright and shows no sign of sinking, but plans to offload crude from the vessel posed some risks, the energy minister of neighboring Trinidad and Tobago said on Thursday.A team of experts from Trinidad inspected the Nabarima facility on Tuesday and found there was “absolutely no tilt” and that the vessel was “totally horizontal…
US to Base Coast Guard Cutters in Western Pacific in Response to China
The U.S. national security adviser said on Friday the U.S Coast Guard was basing Fast Response Cutters in the western Pacific for maritime security missions, citing illegal fishing and harassment of vessels by China.In a statement, Robert O’Brien also said the Coast Guard planned to evaluate next fiscal year the feasibility of basing Fast Response Cutters in American Samoa in the South Pacific.The statement described the United States as a Pacific power and added that China’s “illegal…
Noncomprehensive Sanctions: Venezuela, Global Magnitsky, Hong Kong
This article will focus on “noncomprehensive sanctions,” which target “Specially Designated Nationals” (SDNs), but otherwise do not prohibit most trade between the U.S. and the target country (if any). While there are multiple noncomprehensive sanctions programs, we will focus on three: Venezuela (which can be thought of as quasi-comprehensive), Global Magnitsky (human rights) and Hong Kong. Russia also has a substantial noncomprehensive sanctions program…
Nord Stream 2 Pipelaying Vessel Nears Project Hub
Russian pipe-laying vessel Akademik Cherskiy, expected to be used to finish the Moscow-led Nord Stream 2 gas pipeline, is heading towards the German project hub of Mukran…
Tanker Operator Thanks UK for Storming Vessel after Stowaways Turned Hostile
The operator of an oil tanker stormed in the English Channel by British special forces thanked the authorities on Monday for their timely response, saying help was…
RV OceanXplorer Rebuild Completed by Damen
Damen Shipyards Group has completed the rebuild of research vessel OceanXplorer at Damen Shiprepair Rotterdam. As OceanX’s new flagship, she is equipped with a series of submersibles, sonar arrays, manned submarines, an ROV and AUV, giving full capability to explore and map the depths of the oceans.OceanXplorer’s research facilities are paired with Hollywood quality filming and media studios – developed in partnership with renowned filmmaker James Cameron.
Singapore: Keppel O&M, EMA Award Grant for Floating Energy Storage System Pilot
Singapore's Energy Market Authority (EMA) and Keppel Offshore & Marine have jointly awarded a research grant to pilot Singapore’s first floating Energy Storage System (ESS). This project was awarded to a consortium led by Envision Digital International Pte Ltd (Envision Digital), aspart of the $10 million partnership between EMA and Keppel O&M - announced in April 2020 - to develop innovative energy…
UK Special Forces Storm Oil Tanker, Detain Stowaways in English Channel
British special forces stormed a Greek-operated oil tanker in the English channel on Sunday to wrestle control of the vessel from seven stowaways who had threatened…
Russia: Three Missing after Explosion on Oil Tanker
Three people were reported missing after an explosion took place on a Russian oil tanker travelling through the Kerch Strait towards the port of Rostov-on-Don on Saturday…
