A Greek-operated bulk carrier, Magic Seas, sustained severe damage in a multi-pronged attack off the coast of Yemen on Sunday, believed to have been carried out by Houthi militants. All 19 crew members aboard were safely rescued and are expected to arrive in Djibouti later Monday, according to the ship’s operator, Stem Shipping.
Russia said on Tuesday the U.S. had agreed to help it lift restrictions on food, fertilizer and shipping companies in exchange for agreeing to a maritime security deal in the Black Sea.The United States further said it had also agreed with Russia and Ukraine to implement a ban on military strikes on each other's energy installations.
McDermott and BW Offshore have entered into a collaboration to advance the technical and commercial viability of offshore blue ammonia production aboard a floating production storage and offloading (FPSO) facility.The strategic partnership aims to enable a viable pathway for offshore blue ammonia production, contributing to the global transition to low-carbon energy sources
Liberia-flagged oil tanker Chios Lion was assessing damage and investigating a potential oil spill after it was attacked by Yemen's Houthis in the Red Sea, the Red Sea and Gulf of Aden Joint Maritime Information Center (JMIC) said on Tuesday.An unmanned watercraft inflicted minor damage to Chios Lion's port side on Monday as part of a swarm of attacks by the Houthis on the vessel and another
Salvage operations were in high-gear on Thursday to prevent a potential oil spill and pollution along South Africa's west coast from a grounded general cargo vessel, authorities said.The Panama-flagged "Ultra Galaxy" ran aground close to Doring Bay, some 300 km north of Cape Town, late on Tuesday after it started listing badly.
Egypt is in talks with energy firms and trading houses to buy 40-60 cargoes of liquefied natural gas (LNG) amid a worsening energy crunch ahead of peak summer demand, three sources aware of the matter told Reuters.The country faces spending up to $3 billion at current prices to secure the LNG
India plans to spend $10 billion over the next 25 years to acquire up to 112 crude oil tankers, Bloomberg reported, citing unnamed officials. The move would effectively reduce reliance on foreign-chartered vessels and bolster energy security for India.According to the Bloomberg report, orders for 10 ships could come as early as this month, with the stipulation that ships must be built in India
Odyssey Marine Exploration, Inc. is pleased to see the issuance of a new Executive Order titled Unleashing America’s Offshore Critical Minerals and Resources. In addition, the company confirms that it currently has no specific plans to issue any securities under its universal shelf registration statement on Form S-3
Even though there is still a substantial amount of wooden yacht construction and restoration out there, wooden hull construction has pretty much gone the way of the mastodonts.To find a new commercial wooden vessel project would be quite a challenge. Except if you happen to know Scarano Boatworks. Scarano Boats was founded by brothers John and Rick Scarano in 1986.
“Three years after Russia’s invasion of Ukraine, the volume of dry bulk shipments from the two countries combined is 6% below pre-war levels. However, the past 12 months have seen the countries’ dry bulk shipments develop in complete opposite directions. While Ukraine has seen an 87% y/y jump in shipments, Russia’s have taken a 6% y/y fall.
“Between January and November 2024, Russian seaborne dry bulk exports have decreased 5% y/y, driven by a 10% y/y decrease in coal shipments. The price competitiveness of Russian coal has deteriorated, compared to Mongolian, Indonesian and Australian cargoes, and a gradual increase in exports over land to China has also contributed to this decline,” says Filipe Gouveia, Shipping Analyst at BIMCO.
Swedish wave energy company CorPower Ocean has partnered with SwitchH2, offshore floating production systems developer for the delivery of green hydrogen and green ammonia, to deliver industrial-scale floating green ammonia production facility partially powered by wave energy.With backing from Norway-based BW Offshore and Dutch Oceans Capital