At least two supertankers made U-turns near the Strait of Hormuz following U.S. military strikes on Iran, shiptracking data shows, as more than a week of violence in the region prompts vessels to speed, pause, or alter their journeys.Washington's decision to join Israel's attacks on Iran has stoked fears that Iran could retaliate by closing the strait between Iran and Oman through which around
In the early hours of Friday, June 20, Great Lakes Towing tugs conducted an efficient refloating operation of the foreign-flagged freighter SUNNANVIK, which had become lodged in the narrow mouth of the Cuyahoga River near the East Bank of the Flats.At approximately 12:43 a.m., the 9,000-ton SUNNANVIK became wedged in the canal, temporarily disrupting traffic.
The Global Risks Report 2025, produced by the World Economic Forum in collaboration with Marsh McLennan and Zurich Insurance Group, finds that nearly two-thirds of over 900 surveyed experts anticipate a turbulent decade ahead.The top five risks identified are:State-based armed conflict: Wars in Ukraine, the Middle East and Sudan have brought unprecedented instability
Advisers to U.S.President-elect Donald Trump are urging him to take a patient approach to restarting approvals for liquefied natural gas export licenses, fearing rapid approvals will only get overturned in court, according to two sources familiar with the discussions.The recommendations offer a preview of the challenges Trump will face as his bold campaign promises to slash regulation and
HII announced today that it has entered into a definitive agreement to acquire substantially all of the assets of W International SC, LLC and Vivid Empire SC, LLC (collectively “W International”), a South Carolina-based complex metal fabricator specializing in the manufacture of shipbuilding structures, modules and assemblies.
Private equity firm Carlyle has dropped out of a bidding process for the warship division of stricken conglomerate Thyssenkrupp, the German company said on Tuesday.Carlyle's withdrawal as a suitor for Thyssenkrupp Marine Systems (TKMS) is a major blow to Thyssenkrupp's restructuring, which also includes plans for a 50:50 steel joint venture with Czech billionaire Daniel Kretinsky.
At least four people have been reported dead following the sinking of an oil barge operated by a contractor of Venezuela's state-run energy company PDVSA at the country's Lake Maracaibo, according to a report of the accident on Thursday and sources.Another 19 people had been successfully rescued by Thursday morning at the accident site, the report added.
At least two people died and four were declared missing following the sinking of an oil barge operated by a contractor of Venezuelan state-run energy company PDVSA at Lake Maracaibo, PDVSA said on Thursday.Sources and an internal report from the company had indicated four fatalities from the accident earlier on Thursday. But PDVSA said rescue work to find the four missing people has not finished.
U.S. Gulf of Mexico energy firms on Friday were lumbering back from hurricane disruptions as offshore oil and gas producers ramped up operations after halving the key energy region's output, ports reopened, and onshore terminals accepted oil and liquefied natural gas (LNG) tankers.Hurricane Francine shut in up to 42% of the region's offshore oil and 53% of its natural gas production.
The U.S. government signaled in a court filing on Wednesday for the first time that it may file a claim against the owner of the ship that caused the March collapse of the Francis Scott Key Bridge in Baltimore.U.S. Justice Department attorney Laine Goodhue submitted a letter, opens new tab notifying U.S.
U.S.-based offshore drilling contractor Noble Corporation on Wednesday announced it has completed its acquisition of peer Diamond Offshore Drilling. The merger creates the industry's largest fleet of 7th generation dual-BOP drillships and adds 4.8 rig years and approximately $2 billion to the Noble backlog, which now stands at $6.7 billion.
Austal USA LLC has pled guilty and has agreed to pay $24 million to resolve an investigation by the U.S. Justice Department related to an accounting fraud scheme and efforts to obstruct the Defense Contract Audit Agency (DCAA) during a financial capability audit.The Justice Department’s criminal resolution was coordinated with the U.S. Securities and Exchange Commission (SEC).