FMD’s Hunt Valve Wins $96M in POs for Submarine Valves
Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), announced that its Hunt Valve operation has been awarded purchase orders totaling $96 million to provide valves in support of the construction of 12 new Virginia-class and five Columbia-class submarines. This includes ship service ball valves and forged high-pressure system valves.The contract makes Fairbanks Morse Defense among the largest suppliers to these submarine programs.
Maritime News Roundup: Shipbuilding, Wreck Removals and Subsea Security
A few choice 'news of note' from other leading new sources around the globe - January 6, 2025.2025 Target: $18.5B in Shipbuilding OrdersAccording to Business Korea, HD Korea Shipbuilding & Offshore Engineering set its shipbuilding target for 2025 at $18.5B, a mammoth jump from last year's $13.5B target. Of the $18.5B, $9.7 is targeted to HD Hyundai Heavy Industries; $3.8B for HD Hyundai Mipo; and $4.5B…
Subsea Cables "Torn Apart" by External Force, says Elisa
A pair of telecomm cables appeared to have been torn apart by a strong external force, Finland's Elisa said today, adding that they had now been repaired. The cables were damaged in the Baltic Sea on Dec. 25, 2024.Finnish police seized the Eagle S tanker carrying Russian oil on Dec. 26 and said they suspected that the vessel had damaged the Finnish-Estonian Estlink 2 power line and four telecoms cables…
Amid Falling Suez Canal Revenue, Egypt to get $1.2 bln IMF Boost
Egypt is expected to receive a $1.2 billion disbursement from the International Monetary Fund this month as part of an $8 billion program with the international lender, Finance Minister Ahmed Kouchouk said on Sunday.Last month, the IMF said it reached a staff-level agreement with Egypt on the fourth review of the 46-month Extended Fund Facility arrangement, potentially unlocking the $1.2 billion disbursement."The (IMF's executive) board will convene in January and…
BoatUS' Sensenbrenner Appointed to NBSAC
Ted Sensenbrenner, BoatUS Foundation Director of Boating Safety, has been appointed by Director of Homeland Security Alejandro Mayorkas as a Representative to the National Boating Safety Advisory Committee (NBSAC).A coalition of recreational boating safety, state boating officials, national boating organizations, and boat and equipment manufacturers, NBSAC provides valuable assistance to the Department of Homeland Security…
New Bunkering Service Debuts in Canadian Port
The port of Prince Rupert has welcomed the startup of Wolverine Terminals’ marine bunkering service for deep sea shipping, adding a key logistical capability to this strategic deepwater port on the west coast of Canada. Using a unique pair of barges designed by Robert Allan Ltd., Wolverine Terminals can deliver a wide range of fuels to suit the needs of vessels calling at the port, including marine diesel…
Norris Joins Shipbuilder as New Marine Fabrication Vice President
Vigor announced that Mark Norris has joined the company as Vice President of Marine Fabrication, to be based in the company's Vancouver, Washington facility.Vigor is currently in production on the Maneuver Support Vehicle (Light), or MSVL, the U.S. Army’s new generation landing craft. He will be responsible for growing and maintaining an experienced, skilled team, while leading Vigor’s defense and…
Cyber Security in the Maritime Sector - What You Need to Know Now
The U.S. Coast Guard proposes to update its maritime security regulations by adding regulations specifically focused on establishing minimum cybersecurity requirements for U.S.-flagged vessels, Outer Continental Shelf facilities, and U.S. facilities subject to the Maritime Transportation Security Act of 2002 regulations. This proposed rule would help to address current and emerging cybersecurity threats in the marine transportation system.
US Port Labor Talks to Resume on Tuesday
Contract talks covering 45,000 dockworkers on the U.S. East and Gulf Coasts are set to restart on Tuesday in a labor dispute that will help set the pace of automation at ports stretching from Maine to Texas.The International Longshoremen's Association wants to eliminate past labor contract concessions on automation - notably the use of semi-automated cranes that stack containers on docks - arguing they pose a threat to jobs.The United States Maritime Alliance (USMX) employer group…
Additional Sanctions Possible for Russian Oil tankers
The Biden administration plans to impose more sanctions on Russia over its war on Ukraine, taking aim at its oil revenues with action against tankers carrying Russian crude, three sources with knowledge of the matter said.President Joe Biden's administration has sought to shore up support for Ukraine before President-elect Donald Trump takes office on Jan. 20, given the Republican leader's frequent complaints about the cost of U.S. support for Ukraine."It's a very substantial package.
US Storm, Weaker Dollar Push Oil to 12-week High
Oil prices edged up to a 12-week high on Monday as a winter storm boosted demand for energy to heat U.S. homes and businesses, and on support from a weaker U.S. dollar and expectations of tighter sanctions on Iranian and Russian oil exports.Brent futures rose 27 cents, or 0.4%, to $76.78 a barrel by 11:33 a.m. EST (1633 GMT), while U.S. West Texas Intermediate crude rose 27 cents, or 0.4%, to $74.23.Both…
Philippines' Maritime, Air assets to watch China's 'monster ship'
The Philippines has deployed air and sea assets of its military and coast guard in its exclusive economic zone to monitor China's largest coast guard vessel, calling the ship's presence an act of Chinese "intimidation, coercion and aggression".According to the Philippine coast guard, the 165 m (541 ft) long vessel 5901, referred to by the Philippines as "the monster", was 65 to 70 nautical miles off…
Baltic Index Snaps 5-session Winning Streak
The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped its five-session winning streak on Monday, pressured by weaker rates across capesize and supramax vessel segments.The index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 29 points to 1,043 points. The capesize index was down 85 points to 1,290 points.Average daily earnings for capesize vessels…
Ship Brokers: EU's clean fuel rules 'Inflationary'
European Union marine fuel rules, effective from Jan. 1 as part of efforts to cut emissions, will raise shipping costs, although firms with vessels that can run on alternative fuels, such as biodiesel and LNG, will benefit, two shipbrokers said.The policy is the second major EU regulation focused on cutting the shipping industry's carbon emissions in as many years. Shipping transports over 80% of all…
USCG's MERPAC announces Advisory Committee Meeting
The Office of Merchant Mariner Credentialing is hosting an intersessional meeting of the National Merchant Marine Personnel Advisory Committee (NMERPAC) subcommittee on task 24-3 Operator of Remote-Controlled Survey Vessels of 65' or less.The subcommittee will meet virtually through Microsoft Teams on January 27, 2024, from 9:00 a.m. to 4:00 p.m. (EST).NMERPAC advises, consults with, and makes recommendations…
Strategic Marine Delivers Offshore Crew Transfer Vessel to AES
Singapore-based shipbuilder Strategic Marine has delivered its first Surface Effect Ship (SES) to All Energies Services (AES), specifically designed for offshore crew transfer operations within the oil and gas sector.The contract marks a major step in Strategic Marine’s ongoing collaboration with AIRCAT Vessels, ESNA – Espeland and Skomedal Naval Architects and AES bringing a 35-meter SES vessel to…
Boskalis to Bolster Fleet with ‘Largest Subsea Rock Installation Vessel in Industry’
Dutch marine services firm Boskalis has announced the latest addition to its fleet, a giant subsea rock installation (SRI) vessel with a cargo capacity of 45,500 metric tons, which is set for delivery in the first quarter of 2026.The vessel, named Windpiper, will be the largest SRI vessel in the industry, according to Boskalis.The Windpiper is set to play an important role in facilitating the energy transition working on offshore wind projects…
