Edward Schwarz, Vice President for ABB Marine and Ports, received the United States Merchant Marine Academy’s Rear Admiral Lauren S. McCready Award as the 51st recipient.Edward A. Waryas, Jr., Board Member for NYSE-traded KNOT Offshore Partners, LP as the 43rd recipient of the award and co-chair of the award’s committee made the announcement.The Lauren S.
Sovcomflot plans to raise at least $500 million in an initial public offering (IPO) on the Moscow Exchange, Russia’s top shipping company said on Tuesday, in a deal that could value it at roughly $10 billion according to sources.The move by the state-controlled firm comes as Russian airline Aeroflot also plans to raise capital in a secondary public offering (SPO).
A stalled global economic recovery from the coronavirus pandemic is leading to a fresh build-up of global oil supplies, pushing traders including Trafigura to book tankers to store millions of barrels of crude oil and refined fuels at sea again.The use of so-called floating storage onboard tankers comes as traditional onshore storage remains close to capacity as supplies outpace demand.
Galveston, Texas-based dredging contractor Callan Marine announced Thursday it has ordered a new 28-inch cutter suction dredger that's due to join its fleet in 2021.The new dredge, General Bradley, is currently being built by Hagler Systems at the Halimar Shipyard in Morgan City, La. It will be 341 feet long with a 6.6-foot draft.
Royal Caribbean Cruises on Wednesday launched a $3.3 billion bond offering, pledging 28 of its ships as collateral and forecast heavy losses for the first quarter as the COVID-19 pandemic brings the sector to a virtual standstill.Royal Caribbean, which was forced to suspend its cruises globally and cut about 26% of its U.S.
SINGAPORE, March 24 -- From banks of screens and giant phones in the office, energy traders worldwide are adapting to a laptop in the bedroom -- and it's going surprisingly well.Working from home has become the new norm in the oil trading hubs of Singapore, London and New York as governments encourage physical distancing to curb the spread of coronavirus.
Inland Dredging Company helps keep commerce flowing on America’s inland waterway system.Dyersburg, Tenn. based Inland Dredging Company completed dredging projects spanning eight states and across four U.S. Army Corps of Engineers Districts. Beginning in July and finishing in December (2019), Inland Dredging crews dredged ports and harbors along the Mighty Mississippi River, Ouachita River
Nearly 200 towing vessels and 600 barges are queued on the Intracoastal Waterway while salvors work to clear a halved and partially sunken rock barge near Berwick, La., the U.S. Coast Guard said.A section of waterway has been closed since Sunday night, when a towing vessel pushing six rock-filled hopper barges ran aground at mile marker 99.
Glosten said it is working with fellow naval architecture firm Ray Hunt Design and the Canaveral Pilots Association on a pilot/demonstration project for the design, construction and operation of an electric pilot boat.Marking a first for a pilot boat in the U.S., the vessel will feature a battery-electric propulsion system with an emergency ‘get home’ diesel engine.
From racing scows on the inland lakes of Minnesota to graduating from the United States Merchant Marine Academy to taking the helm of Glosten, Morgan Fanberg has led a ‘maritime life.’ We caught up with Fanberg in his Seattle office to discuss the path ahead for one of the U.S.’ most progressive and respected naval architecture and marine engineering firms.
A section of the Gulf Intracoastal Waterway has been closed after a towing vessel ran aground at mile marker 99, near Berwick, La., the U.S. Coast Guard said.Watchstanders at Vessel Traffic Service Berwick Bay received a report at approximately 10 p.m., Sunday, that the towing vessel Miss Odessa, carrying six hopper barges filled with rock, ran aground.
British shipbuilding company Wight Shipyard Co. has secured an order for four vessels for Malta’s Captain Morgan Holdings Ltd, a subsidiary of Fortina Investments Ltd.The order is for two 20 m and two 33 m catamarans, all to be designed by One2Three Naval Architects, said the shipbuilding company based in East Cowes on the Isle of Wight in the UK.