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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.

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).

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…

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…

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.

Trinidad signss production sharing agreement for offshore gas block with BP

Posted to Maritime Reporter on November 19, 2024

The energy ministry announced that Trinidad and Tobago signed a production-sharing agreement on Tuesday with a British oil and gas company BP unit for the exploration and production of natural gas in a shallow water area. The agreement comes…

Louis Dreyfus opens new sugar transshipment facility in Brazil

Posted to Maritime Reporter on November 19, 2024

The agricultural firm Louis Dreyfus announced on Tuesday the construction of a new transshipment sugar terminal in Brazil's Sao Paulo State, which is expected to be finished by mid-2025. Executives from the company claim that the new terminal…

UK maritime agency reports that a vessel off the coast of Yemen reported a missile hitting nearby sea.

Posted to Maritime Reporter on November 18, 2024

The United Kingdom Maritime Trade Operations said that a vessel located 60 nautical miles south of Yemen's Aden reported a missile splashing in the water within its proximity on Monday. UKMTO said that both the vessel and crew were in safety.

Hapag-Lloyd CEO says Trump's election win is a mixed bag for shipping

Posted to Maritime Reporter on November 14, 2024

Hapag-Lloyd's CEO said that Donald Trump's election as U.S. president sends mixed signals to global shipping. Positive macroeconomic effects could be offset by damaging tariffs. When asked about the prospects of a Trump Administration, CEO Rolf Habben Jansen said…

Nexans, a manufacturer of offshore wind cables, says that it could turn its US facility into an export hub

Posted to Maritime Reporter on November 13, 2024

Nexans announced on Wednesday that it would convert its U.S. plant into an export center if Donald Trump's second term as president brought challenges to the offshore wind industry. In Charleston, South Carolina, the French power and data cables specialist makes underwater cables for the U.S.

Ferretti Yachts reduces its full-year forecast pending US orders confirmation

Posted to Maritime Reporter on November 13, 2024

Ferretti, the luxury Italian yacht manufacturer, reduced Wednesday its guidance for full-year adjusted core profit (EBITDA), and revenue pending confirmations of U.S. yacht orders in its "composite segment". Ferretti's "Composite Yachts" are the smallest yachts in its three product lines.

Siemens Energy and RWE warn against Trump's impact on the US offshore wind industry

Posted to Maritime Reporter on November 13, 2024

Two of the biggest renewables companies in the world warned on Wednesday of potential challenges for the U.S. off-shore wind sector under Donald Trump's presidency, pointing out possible delays for the technology that the president elect has criticized. RWE is the No.

Al Masirah TV reports that the US and Britain have launched raids in Yemen's capital Sanaa as well as elsewhere.

Posted to Maritime Reporter on November 10, 2024

Al Masirah TV (the main Houthi-run television news outlet) reported Sunday that the United States and Britain conducted raids in the Yemeni capital Sanaa and the Amran Governorate, among other areas. Residents and media from the Houthi group claimed that nine raids targeted Sanaa and its suburbs…

EU wheat falls to 2-month lows as Egypt's tender shows Black Sea competition

Posted to Maritime Reporter on November 4, 2024

Euronext wheat dropped on Monday to its lowest level in two months as a large number of Black Sea suppliers offered to supply a current Egyptian tender, highlighting the export competition despite Russian efforts to introduce minimum prices for overseas sales.

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