Partners to Develop LNG Terminal on Mexico's West Coast
Energy company GFI LNG and energy infrastructure developer Pilot LNG announced a partnership to develop, construct and operate a small-scale liquefied natural gas (LNG) terminal in Salina Cruz, Mexico.The partners said they plan to commence front-end engineering and design (FEED) development for the project this quarter, followed by a 12-18 month development and permitting timeline and anticipated…
Improved Security Lifts Nigeria's Oil Output
Nigeria's oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday.Crude production in Nigeria, a member of the Organization of the Petroleum Exporting Countries (OPEC), stood at 1.2 million barrels per day in February, Ogalla said. Oil major Shell has exited the country."We have stepped up surveillance and enforcement in the oil producing areas…
Sea1 to Manage Viking Supply Ships' AHTS Fleet
Sweden-based Viking Supply Ships on Tuesday announced plans to outsource the management of its six anchor handling tug supply (AHTS) vessels to Sea1 Offshore, based in Norway.The management agreements are scheduled to be completed in October 2024, subject to final documentation and required approvals, the company said.The six AHTS vessels include Magne Viking, Odin Viking, Loke Viking, Njord Viking, Brage Viking and Andreas Viking, all with ice class notations and built from 2011 through 2013.
Houthis Target Containership, US Warships in Latest Red Sea Attacks
Yemen's Iran-aligned Houthi movement said on Wednesday that it had targeted a ship identified as the Contship Ono in the Red Sea as well as two U.S. destroyers in the adjacent Gulf of Aden.The Houthi air force targeted U.S. destroyer Cole with a number of drones and the U.S.
World's Largest Car Carrier Höegh Aurora Delivered
The lead ship of Höegh Autoliners' Aurora class, Höegh Aurora, was delivered at a naming ceremony at China Merchants Heavy Industry’s (CMHI) shipyard in Jiangsu, China, on Tuesday.The newbuild is the first of 12 Aurora Class vessels being built by CMHI. Featuring 14 decks—including five liftable decks—the ship can carry up to 9,100 CEU, making it the world's largest pure car and truck carrier (PCTC) vessel.
Maersk Anticipates Slower Growth Following Red Sea Crisis Surge
Maersk expects global container shipping growth to slow from a strong start to the year, when customers soaked up goods to prevent them from being held up by Red Sea attacks and other disruptions, it said on Wednesday.The Danish company, viewed as a barometer of world trade, said global container demand increased about 7% year-on-year in the first half of the year, boosted by robust demand from Europe…
Offshore Wind: Inside the Financial Web
Early 2024 saw a group of financial deals that have implications, in a broad sense, for how offshore wind projects may be financed. While offshore wind projects might be thought of as being in the ‘utility finance’ basket, they are ultimately high-risk deals that might better suit the portfolios of ‘infrastructure investment’ which, in recent years, has taken a shift towards tolerating more uncertainty when it comes to cash flows.A 2022 article from consultants McKinsey…
UUV Integration Will Transform Submarine Tactics
For decades, submarines have been the apex predator, roaming the oceans largely unmolested, gathering intelligence, providing a sea-based nuclear deterrent, and conducting clandestine missions with impunity. As such, these versatile and lethal platforms have been highly sought after by navies around the world, and with advancements in underwater propulsion and quieting technologies, it is perhaps more challenging than ever to detect, localize, and track them.
India Tightens Ties to Russian Oil
“During the past three months, India has relied on Russia for 40% of its seaborne crude oil import. Year-to-date, volumes have reached an average of 1.6 million barrels per day (mbpd), an increase of 1000% compared to 2021, before Russia invaded Ukraine,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.The increased import of Russian oil has contributed to a higher average sailing distance for crude oil tankers discharging in India.
Record Exports from Australia’s Pilbara Ports
The Pilbara region of Australia has achieved a record 758.3 million tonnes of exports passing through its ports in the 2023-24 financial year.This marks the fifth consecutive year of record-breaking throughput for Pilbara Ports.The Port of Port Hedland contributed significantly to this achievement with a throughput of 573.6 million tonnes.The commodities exported through Pilbara Ports in 2023-24 were…
Nakilat’s H1 Profit Up By 7%
Qatar Gas Transportation Company (Nakilat) and its group subsidiaries announced their financial results for the first half of the year ended 30 June 2024, with a net profit of QAR 829 million ($227 million) for the first half of the year ended 30 June 2024, an increase of 7% on the corresponding period in 2023.In 2024, Nakilat achieved significant milestones in its fleet expansion project. The company signed contracts to build six advanced gas carriers…
Italy Appoints Commissioner to Tackle Spread of Blue Crab
Italy on Tuesday appointed a special commissioner to tackle the spread of the blue crab, an aggressive species that is preying on local clams and threatening a lucrative part of national food production.Originally from the western Atlantic, blue crabs have proliferated in several locations around the Italian coast, particularly in the Po river delta in the north, where attempts to curb numbers with…
Philippines, US, Australia, Canada to Hold Exercises in South China Sea
The Philippines, Canada, United States and Australia kicked off their first joint military exercise on Wednesday in the South China Sea to enhance inter-operability among their forces, the four countries' military said.The two-day exercise, which will involve naval and air force units, is the first among the four countries, and follows the first Philippines-Japan joint exercise in the disputed South China Sea last week.The United States, a treaty ally of the Philippines, has held similar exercis
Coast Guard to Remove Jacob Pike Wreck in Maine
The U.S. Coast Guard is heading up efforts to raise a 1940s era wooden fishing vessel that sank during a winter storm in the New Meadows River in Harpswell, Maine, on January 10, 2024. Officials said the 83-foot vessel Jacob Pike is deemed a pollution threat and noted its owner and responsible party (RP) have not taken appropriate action to mitigate the significant threat of pollution.Coast Guard Sector Northern New England (SNNE) collaborated with Maine DEP…
BRIX Marine Delivers Whale Watching Vessel Quinn Starr
Port Angeles, Wash. shipbuilder BRIX Marine announced it has delivered a new whale watching tour vessel for Alaska Whale Watching, operating out of Auke Bay, Alaska.The 5217-CTC aluminum catamaran Quinn Starr—part of the builder's PaxCat portfolio—is 56 feet long (LOA) with a beam of 17 feet 6 inches. The vessel can accommodate 49 passengers and three crew members, meeting USCG Sub T class requirements.Quinn…
Michigan Awards $5 Million for Maritime Infrastructure Projects
The Michigan Department of Transportation (MDOT) has revealed the winners of the 2024 Michigan Maritime and Port Facility Assistance Grant Program, which will allocate $5 million to maritime projects throughout the state.The five chosen projects aim to enhance Michigan's maritime infrastructure, bolstering the state's economic edge, lowering freight transportation costs, increasing reliability and lessening the environmental effects of freight movement…
Bulk Carrier Grounded Due to Inadequate Clearance Guidance
Inadequate operating company guidance on underkeel clearance led to the April 2023 grounding of a bulk carrier in Lake Huron, the National Transportation Safety Board (NTSB) said Tuesday.The 667-foot-long, self-unloading bulk carrier John J Boland—owned by American Steamship Company and operated by Grand River Navigation under charter—grounded twice as it was completing final loading in Port Dolomite, Michigan on April 21, 2023.
Electric Motor Startup H3X Raises $20 Million
Electric motor startup H3X on Tuesday announced it has raised $20 million through an oversubscribed Series A round led by Infinite Capital, with participation from Hanwha Asset Management, Cubit Capital, Origin Ventures, Industrious Ventures, Venn10 Capital, and follow-on investors that include Lockheed Martin Ventures, Metaplanet, Liquid 2 Ventures and TechNexus.Denver-based H3X manufactures high power density electric motors for aviation, marine, industrial and defense applications.
Austal USA Launches US Navy's Final Independence-variant Littoral Combat Ship
Mobile, Ala. shipbuilder Austal USA has launched the future USS Pierre (LCS 38), the last ship of the U.S. Navy’s Independence-variant Littoral Combat Ship (LCS) program.Following launch, Austal USA’s test and activation team will spend the next several months preparing her for sea trials later this year.Pierre, christened in May, is the Navy’s 19th and final Independence-variant LCS, and will be deployed to the Pacific fleet area of responsibility supporting forward presence…
Greek Coast Guard Makes Million Dollar Cocaine Bust
Greek authorities have confiscated cocaine valued at more than 1 million euros ($1.10 million) that was hidden in a sea container for bananas, the coast guard said.The drugs, seized from a vessel in Piraeus port on Monday, were found with the help of the Homeland Security Investigations unit of the U.S.