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Tuesday, December 17, 2024

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Thyssenkrupp says pursuing spin-off for marine division

Posted to Maritime Reporter on December 17, 2024

A spokesperson for Thyssenkrupp said that a spinoff was the best option to divest its defence business. This came after a German paper reported on Tuesday that several bidders had submitted offers for the unit. Carlyle, the German state lender…

Fincantieri Sparkle and Telecom Italia join forces to protect submarine cables

Posted to Maritime Reporter on December 17, 2024

Fincantieri, an Italian company, and Sparkle, a unit of Telecom Italia that deals with submarine cables and surveillance systems for telecommunications cable networks in the oceans have agreed on developing solutions to monitor and protect these cables.

US National Security Advisor Sullivan says Trump should be happy with the 'burden-sharing' AUKUS agreement

Posted to Maritime Reporter on December 16, 2024

Jake Sullivan, U.S. National Security Advisor, said that the AUKUS nuclear submarine partnership between Australia and the United States will be beneficial to the United States. It is also the type of "burden-sharing" deal Donald Trump talked about.

Daniel Penny will join Vance, who was acquitted of the chokehold charge in NYC subway, at the Army-Navy Game

Posted to Maritime Reporter on December 13, 2024

Daniel Penny, the former U.S. Marine, who restrained an irate New York City subway passenger with a chokehold, and was acquitted this week of homicide for his death, is JD Vance’s guest at Saturday’s Army-Navy Football game. Vance announced…

China breaks silence on possible drills and says it will not be lenient on Taiwan independence

Posted to Maritime Reporter on December 12, 2024

China's Defence Ministry broke its silence on Friday about military drills around Taiwan. The ministry said it was up China to decide if they would be held and that the military "would not be absent" from fighting against separatists forces.

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).

The rift between China and the Philippines over South China Sea has deepened

Posted to Maritime Reporter on December 6, 2024

Under Ferdinand Marcos Jr., the Philippines has shifted its focus back to the United States and their support for the Southeast Asian nation's maritime disputes with China. JAN 3: The Philippines and United States conduct their second joint patrol of the South China Sea…

Source: Tech-focused Whale Rock will reopen its fund in 2024 after it gained 51% by then.

Posted to Maritime Reporter on December 5, 2024

Whale Rock Capital Management, a tech-focused hedge fund, plans to reopen the flagship fund in early 2019 for between $200 and $300 million of new money following a successful performance in 2024. Source: The fund, with assets of approximately $9 billion…

Fuel oil smuggling nets $1 billion in revenue for Iran and its allies

Posted to Maritime Reporter on December 3, 2024

Five sources familiar with the issue said that a sophisticated fuel oil smuggling ring in Iraq has grown since 2022 when Prime Minister Mohammed Shia al-Sudani assumed office. According to five individuals and three Western intelligence reports - two dated August of this year…

US Coast Guard ends search for crew members of capsized Alaskan boat

Posted to Maritime Reporter on December 2, 2024

The U.S. Coast Guard announced on Monday that they had suspended their search for five individuals after their commercial fishing vessel capsized in Alaska. The Coast Guard received an early Sunday mayday call from the crew on the Wind Walker fishing vessel…

Uber launches boat-hailing service on Kashmir's Dal Lake

Posted to Maritime Reporter on December 2, 2024

Uber launched its water transportation hailing service in India's Kashmir Region on Monday. The service offers rides on popular tourist boats on the Dal Lake. Uber officials confirmed that users can reserve trips on the traditional wooden Shikara…

Threatened by environment change, Panama Canal has big strategies to handle dry spell

Posted to Maritime Reporter on December 2, 2024

in the face of an altering climate. Tres Hermanas, with its farms, two schools, churches and a. medical center, is among lots of towns that would disappear. in the next six years if the state-owned Panama Canal's. ambitious $1.6 billion job goes ahead. Locals are.

Sources say that India banks are examining Adani Group exposure following US charges

Posted to Maritime Reporter on November 28, 2024

Eight bankers claim that Indian lenders including State Bank of India are reviewing their exposure with Adani Group, and whether they should tighten up their due diligence before offering new loans, following the U.S. accusation of Gautam Adani, chairman of Adani Group.

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…

Grain prices fall on better outlook for supply; corn and soy are higher

Posted to Maritime Reporter on November 27, 2024

Chicago wheat futures fell on Wednesday as they gave up gains made in the previous session. This was due to the abundance of supplies coming from newly harvested crops from the Southern Hemisphere. Prices of soybeans rose, but the increase was limited by expectations for large production in Brazil.

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…

Rains flood Mississippi River; US soy exports at 4-year-high

Posted to Maritime Reporter on November 26, 2024

Government data shows that exporters shipped soybeans at their fastest rate in four years from the busiest U.S. grain port after rain increased water levels in Mississippi River. The Mississippi River is the most important grain waterway in the United States.

US Navy patrol aircraft flys through Taiwan Strait

Posted to Maritime Reporter on November 26, 2024

In a press release, the U.S. 7th Fleet stated that a U.S. Navy Patrol aircraft crossed the Taiwan Strait Tuesday "in international aviation", demonstrating the United States commitment to a open and free Indo-Pacific. Around once a week, U.S.

Google will build a subsea cable connecting Australia's Darwin and Christmas Island

Posted to Maritime Reporter on November 25, 2024

Christmas Island, Australia's Indian Ocean Territory, will be connected to Darwin in the north by a subsea cable. The project is backed by Alphabet and Australia claims it will increase its digital resilience. Christmas Island, located 1,500 km west of Australia's mainland and with only 1…

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