Faced with an aging fleet, the Woods Hole, Martha’s Vineyard and Nantucket Steamship Authority has turned to converted offshore support vessels (OSV) to breathe new life into its ferry operations.The operator announced its purchase of the OSVs HOS Shooting Star and HOS Lode Star from Hornbeck Offshore Services in 2022, to replace its open-deck freight vessels Gay Head and Katama
Germany's lower house of parliament and the state parliament of Lower Saxony have approved the rescue of Meyer Werft, one of the world's biggest cruise ship builders, members of the budget committee told Reuters on Wednesday.Although the shipbuilder's order books are full, it has an almost 2.8 billion euro ($3.
The U.S. on Thursday imposed sanctions on two companies and two vessels linked to Russia's Arctic LNG 2 project, Washington's latest step to add costs on Moscow for its invasion of Ukraine.The Arctic 2 project, 60% owned by Russia's Novatek had been due to become Russia's largest liquefied natural gas plant with eventual output of 19.8 million metric tons per year of LNG from three trains.
U.S.-based offshore drilling contractor Noble Corporation on Wednesday announced it has completed its acquisition of peer Diamond Offshore Drilling. The merger creates the industry's largest fleet of 7th generation dual-BOP drillships and adds 4.8 rig years and approximately $2 billion to the Noble backlog, which now stands at $6.7 billion.
A power outage in the Rotterdam port area in the Netherlands briefly interrupted operations at one of Europe's biggest oil refineries on Tuesday, the plant's operator BP said.Electricity grid operator TenneT said the problem was solved shortly after 1000 GMT. It said that BP's 400,000 barrels per day oil refinery, Europe's second largest, was among the plants affected
The cost of insurance for ships sailing through the Red Sea has nearly doubled after Yemen's Houthis attacked a tanker that appears to be leaking oil, with environmental fears growing for trade route, industry sources said on Wednesday.Iran-aligned Houthi militants first launched aerial drone and missile strikes on the waterway in November in what they say is solidarity with Palestinians in Gaza.
Retailers are fueling a summer rush of imports to the United States this year as companies guard against a potential strike by port workers and ongoing shipping disruptions from attacks in the Red Sea ahead of a shortened holiday shopping season.Container imports and freight rates surged in July
A U.S. federal court has charged three men, including two Iranian brothers and a Pakistani national, for an attempt to smuggle Iranian weapons that would be used by Houthi rebels for attacks on maritime shipping.According to the court documents, Shahab Mir’kazei and Yunus Mir’kazei work for Iran’s Islamic Revolutionary Guard Corps, while Muhammad Pahlawan
Noble Corporation has entered into a definitive agreement to acquire Diamond Offshore, creating a fleet of 41 rigs - including 28 floaters and 13 jack-ups, and a combined backlog of approximately $6.5 billion.Noble will acquire Diamond in a stock plus cash transaction, whereby Diamond shareholders will receive 0.2316 shares of Noble, plus cash consideration of $5.
Trader Gunvor and French major TotalEnergies have stored North Sea crude in at least four tankers in the past month as on-water stockpiling of the grades hits a 2-1/2 year high, a fresh sign of weak appetite for oil from refiners.At least 2.6 million barrels of North Sea crude grades Forties and Gullfaks have been put in floating storage in Europe, the highest volume since January 2022
China's coastguard said it had taken measures against Philippine vessels in disputed waters of the South China Sea on Saturday, while the Philippines decried the moves, including the use of water cannons, as "irresponsible and provocative".China's actions led to "significant damage" and injury to personnel on a civilian boat hired to resupply troops
As many as 35 oil tankers that usually carry crude or fuel oil could switch to carrying cleaner products like diesel and jet fuel in the next two months as shipowners chase higher profitability, oil analytics firm Kpler said in a LinkedIn post.An LR2 (long-range 2) type tanker typically carries cargoes of about 90,000 metric tons of cleaner fuels.