Offshore drilling contractor Seadrill is looking to buy more assets or create a larger player by merging with peers, the company's CEO said on Wednesday.Norwegian-born billionaire John Fredriksen lost the control of the company, once the world's largest driller by market cap, to its creditors over two debt restructurings since 2014.
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).
U.S. maritime companies Crowley and SEACOR Holdings on Thursday announced the formal launch of their joint venture Fairwater Holdings LLC, an independent U.S. company integrating the firms’ petroleum and chemical transportation vessels, capabilities and personnel.Active in all major Jones Act coastwise tank vessel trades, Fairwater supports the transportation of petroleum products
A global operational alliance between two of the world’s largest container shipping companies will not go into effect next week as planned following a move by the U.S. Federal Maritime Commission to study the potential competitive impacts of the arrangement.The FMC said on Friday it is seeking more information to determine the potential competitive impacts of the proposed Gemini Cooperation
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.
Russian tanker Krymsk, hit by sanctions, docked on Wednesday at the Chinese port of Dongying in eastern Shandong province, home of independent refiners, to discharge 700,000 barrels of Russian Sokol crude, LSEG and Kpler shipping data showed.This is the second Russian oil tanker, hit by sanctions, to dock at Chinese ports this month.
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.
The U.S. Coast Guard was leading an oil spill clean-up in the Gulf of Mexico on Friday, partnering with local and federal agencies and companies after a Main Pass Oil Gathering Co (MPOG) underwater pipeline began leaking.The crude oil pipeline is around 19 miles (30 km) offshore in the Gulf of Mexico, east of Venice, Louisiana, the U.S. Environmental Protection Agency (EPA) said.
The U.S. Department of Transportation’s Maritime Administration (MARAD) on Wednesday announced $8.75 million in grant awards to 15 small shipyards in 12 states through the Small Shipyard Grant Program. The funds will help shipyards modernize, increase productivity, and expand local job opportunities while competing in the global marketplace.
The Philippines said it was sending a vessel to Sabina Shoal to replace a coast guard ship that returned to port on Sunday after a five-month deployment at the contested feature in the South China Sea, in a swap that would likely irk China.Beijing had demanded the Philippines withdraw the 97-metre (318-foot) coast guard vessel Teresa Magbanua it claimed was "illegally stranded" at the atoll
The U.S. Coast Guard announced a new merchant mariner credential (MMC) set to launch on March 1, 2024, marking the first comprehensive revision of the mariner credential in nearly a decade.The Coast Guard is the exclusive source of U.S. MMCs, which are required for U.S. mariners who serve on commercially operated vessels such as passenger boats, tug and barges, offshore supply vessels