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Norway will provide $242 million to the Ukrainian Navy

Posted to Maritime Reporter on December 16, 2024

Norway announced on Monday that it would be providing 2.7 billion crowns (242 millions of dollars) to help strengthen the Ukrainian Navy and deter Russian Naval Forces in the Black Sea. The government stated that a large part of the funds will…

Government commission: New offshore wind power in Sweden is not feasible without government support

Posted to Maritime Reporter on December 13, 2024

A government commission charged with reviewing and speeding the process for authorising new wind farms said Friday that developing offshore wind projects near Sweden's coastlines was not commercially feasible at this time. The head of the commission…

EU wheat drops from 2-week high, spot rapeseed increases on river disruption

Posted to Maritime Reporter on December 12, 2024

Euronext wheat eased Thursday, after reaching a two-week high, due to the weakness of Chicago grains, and persistent export competition, despite concerns over Russian supply. The price of March wheat at Euronext was 0.8% lower, coming in at 229.00 Euros ($240.52).

More than 20 people are arrested in a cocaine-smuggling investigation between Brazil and Italy

Posted to Maritime Reporter on December 10, 2024

Brazilian and Italian authorities announced that they had launched two joint operations Tuesday to dismantle a transnational conspiracy to transport cocaine using cargo ships or planes from South America to Europe. In Brazil, 18 arrest warrants…

Three people found guilty in Italy of a deadly Cutro migrant boatwreck

Posted to Maritime Reporter on December 10, 2024

A judicial source reported that an Italian court sentenced on Tuesday three people to prison terms of up to 16-years for their role in a shipwreck involving migrants in which 94 people perished last year. The nighttime shipwreck that occurred near Cutro in southern Calabria on February 26…

Macquarie-backed offshore developer Corio begins job cuts

Posted to Maritime Reporter on December 5, 2024

Corio Generation is the UK-based offshore developer backed by Australia’s Macquarie Group. The company plans to reduce a few jobs, according to a spokesperson on Thursday. Many offshore wind companies have reviewed their investments and undertaken…

Denmark disappointed by no bids for offshore wind tender

Posted to Maritime Reporter on December 5, 2024

Authorities in Denmark announced on Thursday that they had received no bids from offshore wind farms for the latest tender. In a written announcement, Energy and Climate Minister Lars Aagard stated that "this is a very disappointed result".

Traders say that the new sanctions and winter weather will increase freight rates for Russian oil.

Posted to Maritime Reporter on November 29, 2024

Three traders on Friday said that the freight rates for Russian oil transport are expected to increase due to the upcoming winter season and new sanctions imposed against Russian fleet. The UK has introduced the most severe sanctions against Russia's shadow fleet of merchant ships.

Olympics-Grainger appointed first female head of British Olympic Association

Posted to Maritime Reporter on November 28, 2024

Katherine Grainger, a former Olympic rower and chair of UK Sport and currently the chair of the British Olympic Association(BOA), was elected as chair of the British Olympic Association on Thursday. She will be the first woman in the position.

Simon breakss 600-mile mark at Vendee Globe

Posted to Maritime Reporter on November 27, 2024

Sebastien S. Simon, a Frenchman from the Vendee Globe, broke the solo monohull 24 hour distance record on Wednesday. He sailed 602,56 nautical miles and beat his compatriot Yoann RICHOMME's previous mark by 22.7%. In recent times, the fleet has been propelled by an ever-moving depression.

On a visit to Sweden, the Polish PM will urge "navy police" in Baltic Sea

Posted to Maritime Reporter on November 27, 2024

On Wednesday, the Polish Prime Minister Donald Tusk announced that during his two-day visit to Sweden he will urge Baltic and Nordic nations to take joint actions regarding the security of Baltic Sea water. NATO is taking action in response…

TotalEnergies suspends US offshore wind projects after Trump's victory, CEO says

Posted to Maritime Reporter on November 26, 2024

LONDON, November 26 - TotalEnergies halted the development of a new wind farm near the coast of New York following Donald Trump's U.S. presidential election win, said the CEO of the French company on Tuesday. In October 2023, the French energy…

Paris wheat prices fall due to the euro's strength, which is export-punishing

Posted to Maritime Reporter on November 25, 2024

The European wheat price fell on Monday due to a rising euro against the dollar, which makes supplies denominated in euros more expensive on global markets. The benchmark December milling grain on the Paris-based Euronext Exchange ended down 2% to 214.50 Euros ($224.69).

Paris wheat prices fall on the back of a weak euro.

Posted to Maritime Reporter on November 25, 2024

The European wheat price fell on Monday due to a rising euro against the dollar, which makes supplies denominated in euros more expensive on global markets. Euronext's benchmark December milling grain fell by 2%, to 214.75 euro ($225.17) per metric ton at 1646 GMT.

EU wheat prices pause after a 6-day rally due to the Black Sea crisis and weak euro

Posted to Maritime Reporter on November 22, 2024

The price of European wheat fell on Friday, after six sessions of gains. This was due to the improved prospects of the Australian harvest. However, the sharp drop in the euro and the intensification of the conflict in Ukraine continued to support the market.

Rolex increases SailGP support as crews head to Dubai for the new season

Posted to Maritime Reporter on November 21, 2024

SailGP's fifth season will begin in Dubai at the weekend, with Rolex as the title sponsor. This partnership has been in place since the creation of the league. Rolex has been involved with sailing for almost 70 years and will become the title…

Euronext Wheat extends rally, with Black Sea as focus

Posted to Maritime Reporter on November 21, 2024

The benchmark European wheat price rose for the fifth session in a row on Thursday, reaching a record high of three weeks. This was due to the fall of the euro against the dollar as well as a Russian missile attack against Ukraine that kept…

Spithill makes his debut with the Red Bull Italy SailGP Team in Dubai

Posted to Maritime Reporter on November 21, 2024

Red Bull Italy SailGP Team, the 12th and last entry in the SailGP 2025 season, was unveiled on Thursday. The team, led by Jimmy Spithill will debut at this weekend's Emirates Dubai Sail Grand Prix. Italian driver Ruggero TITA and strategist Giulia FAVA are both double Olympic medalists.

Black Sea concerns persist as EU wheat prices rise with Chicago

Posted to Maritime Reporter on November 20, 2024

The European wheat futures closed higher on Wednesday as a result of a turnaround in Chicago. News that Ukraine fired more Western missiles at Russia sparked fears about a war escalate. Euronext was also boosted by the fall of the euro in relation to the dollar.

UK scraps Royal Navy Ships, retires Helicopters to Save $633 Mln

Posted to Maritime Reporter on November 20, 2024

British Defence Minister John Healey announced on Wednesday that he will free up $500 million ($633million) over the next five years for military budgets by scrapping several Royal Navy ships, a drone system, and retiring a few helicopters.

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