Liquefied natural gas shipping rates have hit multi-year lows and may extend losses going into 2025, analysts and shipping sources said, with new tankers being added at a faster rate than LNG production is rising and spot demand still tepid.New LNG tankers, built in anticipation of rising U.S.
The Panama Canal expects to increase the number of daily transit slots for vessels to 36 from the current 34 beginning in September, the canal's deputy administrator said, as rains allow authorities to ease drought-imposed restrictions.Panama experienced its third-driest year on record in 2023
Seattle-headquartered Saltchuk on Wednesday announced it has completed its acquisition of Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla.Privately-held Saltchuk—previously OSG’s largest shareholder—said it completed a $950 million transaction to purchase all outstanding shares of OSG common stock at $8.
Marine conservationists and government scientists are seeking clues to the mystery of how a 44-foot whale carcass ended up on the bow of a cruise liner, where it was discovered as the ship approached New York City's Port of Brooklyn over the weekend.A necropsy, the animal equivalent of an autopsy, identified the deceased marine mammal as a mature female sei whale
The U.S. Environmental Protection Agency (EPA) has issued the final air quality permit for Dominion Energy’s 2.6 GW Coastal Virginia Offshore Wind (CVOW) project located off the coast of Virginia Beach in the United States.Issued on April 9 following a 30-day public comment period, the permit authorizes the construction and operation of the largest offshore wind project in the U.S.
Salvage crews worked to lift the first piece of Baltimore's collapsed Francis Scott Key Bridge from the water on Saturday to allow barges and tugboats to access the disaster site, Maryland and U.S. officials said, the first step in a complex effort to reopen the city's blocked port.
Trinidad and Tobago has hired two remediation and salvage firms to help clean up an ongoing oil spill off Tobago and salvage the leaking barge, the country's Ministry of Energy said on Tuesday.It has been almost two weeks since the oil spill was first discovered off Tobago's Atlantic coast after a barge ran aground on a reef.
More ships carrying grain were diverted from the Suez Canal to sailings around the Cape of Good Hope this week as concern about attacks on vessels in the Red Sea continued, shipping analysts said on Friday."Another 13 vessels were diverted this week taking the total cargo diverted away from the Red Sea route to around 5.
Smyril Line announced it has signed a contract with the CIMC Raffles shipyard in China for the construction of two new vehicle carrier vessels.The ro-ro ships will each be 190 meters in length with 3,300 lane meters for trailers. They have been designed in close cooperation with naval architects Knud E. Hansen for year-round seaworthiness in the North Atlantic.
Akastor's subsidiary DDW Offshore has secured a contract extension with Petrofac for its AHTS vessel that will be put on the Northern Endeavour FPSO disconnection job offshore Australia.The contract extension follows the original one-year contract Petrofac signed with DDW Offshore for the AHTS vessel Skandi Atlantic back in September 2022.
As low water level continue to plaque the Panama Canal, shipowners and managers are paying the price in the form of longer hauls and higher fuel (and emissions) costs to deliver product to market.In one example, oil tanker Cururo is taking the long way from Houston to Chile: sailing the length of South America's Atlantic coast
Frank Manning has quickly risen through the ranks during his eight years in the shipyard business, today serving as president and COO at Diversified Marine, Inc. (DMI) in Portland, Ore. Crucial along the way has been a passion for the business itself and the people that make it all possible.“The first day I walked in a shipyard I knew that I was in the right industry,” Manning said.