MOL Increases Stake in MODEC
Mitsui O.S.K. Lines, Ltd. completed the purchase on the market of 89,500 shares of common stock of MODEC, Inc. and along with the 10,162,300 shares already acquired in June 2023, MOL now holds a 15% stake in MODEC and will make it an equity-method affiliate.MODEC is a leading company in the offshore oil and gas development industry, engaging in the entire process from Engineering, Procurement, Construction…
Marlink Upgrades Solstad Offshore Hybrid Network
Marlink extended its Sealink NextGen solution for Solstad Offshore to include a flexible fleet agreement for Starlink LEO services, aimed at increasing the flexibility to allocate data according to actual needs at any given time across the fleet.Marlink introduced its Starlink LEO fleet agreements to meet the growing demand for high throughput services within its smart hybrid network solutions. The agreement enables Solstad to share significant Starlink data allowance across their fleet…
Hess Guyana's Value is Central to Exxon Mobile Spat
An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, people familiar with the matter said.Chevron last October offered to pay $53 billion for Hess, one of the two biggest deals in the largest wave of consolidation in the oil industry in decades. The asset most coveted by Chevron in the takeover is Hess’s stake in a Guyana field operated by top U.S.
Mike Lynch and Morgan Stanley Chief focus of Divers' Search after Vessel Lost
Divers scoured the wreck of a luxury yacht off Sicily's coast on Tuesday to find six missing people, including British tech entrepreneur Mike Lynch and a Morgan Stanley executive, following an intense storm that sank the vessel on Monday.The British-flagged Bayesian, a 56-metre-long (184-ft) superyacht, was carrying 22 people and anchored off the port of Porticello when it was hit by the fierce, pre…
Canada Pays Tribute to Inuit Culture with Icebreaker Names
Canada’s Minister of Fisheries, Oceans and the Canadian Coast Guard, Diane Lebouthillier, has released the names of the Canadian Coast Guard’s two future Polar Icebreakers: the CCGS Arpatuuq and CCGS Imnaryuaq.The vessels’ names were chosen in collaboration with Inuit Tapiriit Kanatami for their cultural significance to Inuit. The CCGS Arpatuuq references Akpatok Island, an uninhabited island in Nunavik, on the northern coast of Quebec.
Claus Winter Graugaard Dies Aged 51
Claus Winter Graugaard suddenly passed away on July 30 at age 51.Graugaard was widely recognized as a pivotal leader both at the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping and in the broader maritime industry. Since joining the Center's leadership team in January 2021, he played an integral role serving as Chief Technology Officer - Onboard Vessel Solutions.He was widely respected for his professionalism…
ZIM on Track for Double-Digit Volume Growth
ZIM Integrated Shipping Services has announced a net income for the second quarter of 2024 of $373 million (compared to a net loss of $213 million in the second quarter of 2023).The company’s adjusted EBITDA for the second quarter was $766 million, a year-over-year increase of 179%. Total revenue for the second quarter was $1,933 million, a year-over-year increase of 48%.Carried volume in the second quarter was 952…
Maine Wins Federal Floating Wind Research Lease
The Biden administration on Monday issued an offshore wind lease to the state of Maine for a small project that will demonstrate floating turbine technology off the U.S. East Coast.The lease area covers 9,700 acres (3,920 hectares) and is 28 nautical miles (52 kilometers) from shore, an area that could accommodate up to 12 floating offshore wind turbines that could generate about 144 megawatts of electricity.Floating wind is widely acknowleded as the future of offshore wind…
Greensea IQ Contract to Further Develop USN Autonomous Vehicle
Greensea IQ announced an extension to its prototype (Other Transaction Agreement) with the Defense Innovation Unit and U.S. Navy following the successful completion to Phase 3 of the Autonomous Expeditionary Maritime Response Vehicle (AEMRV) prototype last fall.The objective of this contract modification is to demonstrate a production-ready edge processing configuration of Explosive Ordnance Disposal (EOD) Workspace…
US Coast Guard Icebreaker Healy Returns to Seattle Following Onboard Fire
The U.S. Coast Guard Cutter Healy (WAGB 20) has returned to Seattle following an onboard fire that occurred during a scientific research expedition in the Arctic Ocean. The incident took place on July 25, 2024, while the vessel was navigating near Banks Island in the Northwest Territories of Canada.The fire, which broke out in an electrical transformer affecting one of the ship’s two main propulsion motors, was quickly extinguished by the crew. No injuries were reported.
CCG’s Science Vessel CCGS Naalak Nappaaluk Launched
Seaspan Shipyards (Seaspan) launched the Canadian Coast Guard’s flagship science vessel, CCGS Naalak Nappaaluk.The fourth ship designed, built and launched by Seaspan under the National Shipbuilding Strategy, the Offshore Oceanographic Science Vessel (OOSV) is a floating laboratory that will serve as the primary oceanographic science platform for Fisheries and Oceans Canada. As a Polar Class 6 vessel…
Two Washington State Ferries Vessels Sold for Scrap
Washington State Ferries announced it has sold a pair of retired vessels for recycling in Ecuador.Sold for $100,000 apiece, the ferries Elwha and Klahowya have been acquired by Nelson Armas, who has gained approval from the U.S. Department of Transportation Maritime Administration (MARAD) to transport the out-of-service vessels by tow for recycling at a steel mill facility in Ecuador.WSF described…
LNG Ship-to-Ship Transfer off UK a Success
James Fisher Fendercare said it completed the first liquefied natural gas (LNG) STS transfer off the coast of Southwold, UK, for an energy major.The operation was to support a gas-up / cool-down service for an LNG carrier coming out of dry dock in readiness for her next voyage. This specialized operation involves removing the inert gas from the vessel’s storage tanks by transferring LNG to slowly reduce their temperature, to -162C, so that the tanks are ready to safely load new cargo.
Anschütz Debuts new Synapsis NX Software
Anschütz launched a new version of its SYNAPSIS NX software for the Integrated Navigation System (INS), Radar NX and ECDIS NX applications. This new software version 05.07 will also be presented at SMM 2024 in Hamburg, Germany next month.With the new SYNAPSIS NX update, Anschütz has aimed to improve the user-friendliness and stability of the software and has created the basis for the bridge systems to comply with current and future standards.
Cost of US-built WTIV Charybdis Balloons to $715 Million
The cost to construct the United States' first domestically built wind turbine installation vessel (WTIV), Charybdis, has risen to $715 million, Dominion Energy revealed in its latest quarterly results, marking another snag for the fledgling U.S. offshore wind industry.The first-of-its-kind vessel — the only WTIV being built in the U.S. to comply with the Jones Act — was originally slated to cost about $500 million when U.S.
INTERTANKO, Veracity by DNV Partner on Ship Emission Data
Veracity by DNV and INTERTANKO announced a partnership, enabling DNV emissions verification customers to share their data with INTERTANKO, supporting the tanker sector's decarbonization efforts. 2024 is the first year where ships trading in the European Union are subject to its Emissions Trading Scheme (ETS). Verified emissions data are increasingly important for EU ETS commercial settlement, Carbon Intensity Indicator (CII) implementation…
Houma Navigation Canal Lock Project Moves Forward
Governor Jeff Landry, alongside representatives from the Louisiana Coastal Protection and Restoration Authority (CPRA), the United States Army Corps of Engineers (USACE), and various federal, state and local officials, marked a milestone with the groundbreaking ceremony for Phase 2 of the Houma Navigation Canal (HNC) Lock Complex.Featured in Louisiana's 2023 Coastal Master Plan and the recently approved Fiscal Year 2025 Annual Plan…
Donjon Marine Tapped for Maintenance Dredging in Newark, NJ
Hillside, N.J.-based dredging and marine services contractor Donjon Marine has been awarded a contract to perform maintenance dredging in Newark, N.J.The $32,334,174 firm-fixed-price contract was awarded by the U.S. Army Corps of Engineers New York District. Donjon was one of two bidders for the project.Work is expected to wrap up by October 23, 2024.
Crowley Breaks Ground on Salem Offshore Wind Terminal
A ceremonial groundbreaking ceremony was held to signal the start of construction at the Salem Offshore Wind Terminal in Massachusetts.The Crowley Wind Services-led project involves transforming a former oil- and coal-fired power plant into Massachusetts’ second wind port, to support the construction of offshore wind farms in New England and future floating turbines in the Gulf of Maine.Crowley also…
Marine News' Naval Architecture Roundtable
Marine News spoke to leaders at three North American naval architecture and marine engineering firms about some of the latest trends impacting their business today. Morgan Fanberg, CEO, Glosten; Robert Ekse, President, Elliott Bay Design Group; and Wade Carson, CEO, Vard Marine, weigh in on topics ranging from digitalization and decarbonization to the naval architect talent pool.How are advances in digitalization and AI impacting the naval architecture business today?
