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Trump expects Musk will find billions of dollars in Pentagon waste

Posted to Maritime Reporter on February 9, 2025

U.S. president Donald Trump said that he expects Elon to uncover billions of dollars in fraud and abuse within the Pentagon, during an audit led by the billionaire. I'm going tell him to check out the Department of Education very soon. Maybe in 24 hours. Then, I will go and check with the military.

Trump claims that Musk's DOGE will find billions of dollars in Pentagon waste

Posted to Maritime Reporter on February 9, 2025

U.S. president Donald Trump said he expects Elon to uncover billions of dollars in fraud and abuse within the Pentagon, during an audit led by the billionaire. I'm going tell him to check out the Department of Education very soon. Maybe in 24 hours. Then, I will go and check with the military.

After mid-April, the recovery of Tycoon Lynch’s sunken yacht will begin off Sicily.

Posted to Maritime Reporter on February 5, 2025

Sources close to the situation said on Wednesday that the superyacht, which sank in Sicily last April and killed British tech tycoon Mike Lynch, as well as six other people, would be recovered after its mast was dismantled. The salvage operation is expected to start around the middle of the month.

Wartsila CEO: US energy transition to continue despite Trump

Posted to Maritime Reporter on February 5, 2025

The U.S. will continue to transition away from fossil fuels and towards renewable energy despite the tariffs imposed by President Donald Trump, according to the CEO of the power plant manufacturer Wartsila. The President has outlined a comprehensive plan to maximize oil production.

Fincantieri, Italy's cruise ship manufacturer, wins a $9 billion order from Norwegian Line.

Posted to Maritime Reporter on February 5, 2025

Norwegian Line Holdings and Italian shipbuilder Fincantieri announced on Wednesday that they had reached an agreement for four new cruise ships. A source familiar with the matter estimated that this deal was worth approximately 9 billion euros (9.34 billion dollars).

Financial Times - Jan 30

Posted to Maritime Reporter on January 30, 2025

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. -British car parts group Dowlais agrees $1.49 bln U.S. -Harland & Wolff’s new Spanish owner Navantia will invest…

German-Indian joint venture emerges as the sole bidder for India's $5 billion submarine deal

Posted to Maritime Reporter on January 23, 2025

According to a stock exchange filing, German shipbuilder ThyssenKrupp, along with its Indian partner, has cleared field trials in order to build six advanced conventional subs for the Indian Navy. An Indian defence source claimed that their potential competitor…

South Korea's acting president wants reciprocal relations with Trump administration

Posted to Maritime Reporter on January 20, 2025

Choi Sangmok, acting president of South Korea, said that he hopes bilateral relations between the United States and South Korea will develop more mutually under the Trump administration. Choi, citing the slogan "We Go Together", said that the…

USTR finds China’s dominance in shipbuilding hurts US and is actionable

Posted to Maritime Reporter on January 16, 2025

The U.S. Trade Representative’s Office on Thursday stated that China's dominance in the global shipbuilding and maritime sectors, as well as logistics, is "unreasonable". It is also "actionable" according to U.S. Trade Law. The USTR investigation…

Sources say that a US investigation has found China to be unfairly dominant in shipbuilding. This opens the door for sanctions.

Posted to Maritime Reporter on January 13, 2025

Three sources familiar with the findings of a month-long trade investigation have confirmed that the U.S. administration under President Joe Biden has concluded that China is using unfair policies and practices in order to dominate the global shipping, logistics, and shipbuilding industries. U.S.

Sources say that a US investigation has found China to be unfairly dominant in shipbuilding. This opens the door for sanctions.

Posted to Maritime Reporter on January 13, 2025

Three sources familiar with the findings of a month-long trade investigation have confirmed that the U.S. administration under President Joe Biden has concluded that China is using unfair policies and practices in order to dominate the global shipping, logistics, and shipbuilding industries. U.S.

Thyssenkrupp states a number of firms interested in marine department

Posted to Maritime Reporter on January 9, 2025

engine maker Deutz wanted to take it over. saying Deutz was among the companies that had actually submitted a. non-binding deal for TKMS at the end of last year, including the. move would help Deutz to establish a new business area. We can confirm that several business have revealed.

Karpowership, a Turkish company, is in the running for supplying power to Syria

Posted to Maritime Reporter on December 30, 2024

Karpowership of Turkey, the owner of a fleet of floating power plants, announced on Monday that it is just one of several options being considered for providing electricity in Syria. After rebels supported by Turkey overthrew Bashar al Assad in Syria's neighbouring country this month…

Owner of Russian cargo ship that sank near the coast of Spain says it was an 'act' of terrorism.

Posted to Maritime Reporter on December 25, 2024

The owner of the Russian cargo vessel Ursa Major, which sank into the Mediterranean Sea on Wednesday, said that the ship was a victim of an "act of terrorism". This statement came from the state news agency RIA. Two of the 16 crew members were reported missing after an explosion in the engine room.

Financial Times - Dec 23

Posted to Maritime Reporter on December 22, 2024

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. The British Chambers of Commerce have called on the Prime Minister Keir starmer to agree…

Spain's Navantia will buy Harland & Wolf shipyards

Posted to Maritime Reporter on December 19, 2024

The British government announced that the Spanish shipbuilder Navantia would acquire the shipyards owned by Harland & Wolff in Belfast, a company most famous for its Titanic-building work. The British government announced that the deal is subject…

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.

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.

Rosneft's Zvezda shipbuilding facility will be purchased by Russia's VTB

Posted to Maritime Reporter on December 2, 2024

VTB, Russia's second-largest lender, will purchase the Zvezda Shipbuilding Yard from Rosneft. However the deal is in its initial stages. VTB CEO Andrei Kostin said. VTB currently runs the United Shipbuilding Corporation of Russia (USC), Russia’s largest shipbuilder.

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