US Lease Sale off Alaska Coast Draws One Bid
The U.S. government on Friday received just a single bid, from Hilcorp Alaska, for oil and gas drilling rights off the coast of Alaska the first federal auction in the region in more than five years.The offer of nearly 1 million acres in the Cook Inlet was among the concessions to the oil and gas sector included in President Joe Biden's signature climate change law, the Inflation Reduction Act (IRA).Under the law, the Interior Department is required to hold the sale by Dec. 31.
Iran Holds Naval Drills in the Gulf
Iran held joint naval, air, and ground exercises in the Gulf on Friday near the strategic Strait of Hormuz waterway, state media reported.The drills involve submarines and drones "practising information-gathering operations against attacking forces, as well as reconnaissance operations,” Admiral Habibollah Sayyari told the official IRNA news agency.The exercises, code named Zolfaghar-1401, were launched overnight Friday in the eastern side of the strait in the Gulf of Oman.Tehran…
Management Shuffle at SunStone Ships
Sunstone Ships reports that its president Ulrik Hegelund, 52, has, for family reasons, decided to move back to Denmark. As of January 1, 2023, Hegelund will take the position as CFO of SunStone Maritime with overall responsibility for the group’s accounting, budgeting, cash flow, reporting, legal, and IT matters.As of January 1, Christian Lund, 40, will take over the position as President of SunStone Ships Inc., Miami.
US Judge Orders Norwegian Cruise Line to Pay $110 Million for Use of Cuba Port
Norwegian Cruise Line must pay $110 million in damages for use of a port that Cuba's government confiscated in 1960, a U.S. judge ruled on Friday, a milestone for Cuban-Americans seeking compensation for Cold-War era asset seizures.The decision by U.S. District Judge Beth Bloom in Miami follows her March ruling that the use of the Havana Cruise Port Terminal constituted trafficking in confiscated property owned by the plaintiff…
Ecuador Insecurity, Drug Crime Hitting Shipping
Insecurity in Ecuador is hurting the Andean country's exports of products like bananas and shrimp, an exporters association said, amid assaults on shipping containers and contamination of shipments with drugs.At least 63 people linked to exports of bananas, shrimp and cacao - the raw material used to make chocolate - were murdered by organized criminal groups in 2022, while another 1,500 have been injured during attacks…
Chevron Sending Two Oil Tankers to Venezuela Under US Approval
U.S. oil company Chevron Corp is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years…
