Royal Boskalis B.V. on Monday announced it has reached a deal to take full ownership of marine services and towage provider Smit Lamnalco, after another deal for the company to be acquired by Spain’s Boluda Group fell through.Dutch dredging contractor and marine services firm Boskalis, which has held a 50% stake in Smit Lamnalco alongside joint owner Saudi Arabia's the Rezayat Group since 1964
Venezuela's state oil company PDVSA has begun using tankers that navigate off radar to supply its closest political ally, Cuba, as a fleet of state-owned vessels that have historically covered the route dwindles, according to documents and ship monitoring services.Cuba and its main oil supplier, Venezuela
The International Transport Workers’ Federation (ITF) is calling out Dubai-based ship management company Middle East Marine LLC for what it described as "the worst case of serial seafarer abandonment ever seen", involving the systematic abuse and neglect of more than 100 seafarers.
Logistical constraints at the Port of Vancouver mean waterborne oil exports from the highly anticipated Trans Mountain pipeline expansion due to start up on Wednesday may only be around half what the Canadian government-owned corporation has forecast, traders and shipping sources said.The C$34 billion ($24.
Ship engine manufacturer Wärtsilä expects to deliver its first ammonia-fueled engine on a new vessel in early 2025, with more widespread sales expected in the 2030s, a company executive told Reuters.Ammonia is among several alternative fuels that shippers are exploring to reduce carbon emissions.
The owner, operator and charterer of the container ship that struck Baltimore’s Francis Scott Key Bridge on Tuesday are likely to face lawsuits over its collapse and the people killed or injured, but legal experts say U.S. maritime law could limit the companies’ liability.U.S. laws pertaining to open-water navigation and shipping, which are created through court decisions and by acts of Congress
Efforts to limit environmental damage from a cargo vessel that sank after a Houthi missile strike and another abandoned during a fiery assault are on hold until attacks on ships ease, the United Nations' maritime shipping regulatory agency said on Monday.The UK-owned Rubymar last month became the first vessel lost since the Houthis began targeting commercial ships in the Red Sea area in November.
The U.S. on Thursday imposed sanctions on maritime companies and vessels for shipping Russian oil sold above the G7's price cap, as Washington seeks to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine.The U.S. Treasury Department in a statement said it slapped sanctions on three United Arab Emirates-based companies and three vessels owned by them in the action
Wärtsilä has announced plans to further streamline its marine business portfolio by divesting its Gas Solutions business unit.Gas Solutions is a provider of gas processing systems. However, the business unit has limited synergies with the rest of Wärtsilä’s marine product portfolio. Therefore, Wärtsilä plans to move Gas Solutions to the Portfolio Business in preparation for a divestment.
Realizing the full value of digital solutions far exceeds the capability of technology. The technology exists today to help offshore energy and maritime operators radically improve efficiency and cut costs in equal measure. The real trick to driving efficiencies is to take advantage of the latest technologies while at the same time negotiating the necessary culture change within individual
Maritime Partners, a Louisiana-based provider of maritime financing solutions primarily focused on Jones Act vessels, announced that on September 20, 2023, one of its managed funds acquired Norfolk, Va.-based U.S. Marine Management LLC (USMMI) from Maersk Line, Limited.USMMI owns and operates U.S.
Shipping and energy supply chain firm Crowley has teamed with nuclear power specialist BWX Technologies through a memorandum of understanding for a ship concept that, the companies say, has the potential to generate alternative, zero-carbon emission energy for defense and disaster needs by including a microreactor on board.The two U.S.