The sulfur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the center stage in the shipping industry at outset of the new decade. Four months on, the spotlights have turned to the coronavirus and the OPEC+ oil price war.The outlook for global economic growth remains bleak as the world is faced with the largest recession since the Great
Vice President and General Manager of Fincantieri Bay Shipbuilding, Todd Thayse, has 34 years of experience in the maritime construction and repair industry, working with clients from all over the world as well as vendors and suppliers from the Great Lakes region and beyond. He has an extensive background in manufacturing production, material procurement, strategic planning, estimating, budgeting
The coronavirus outbreak has affected all aspects of the shipping industry, lowering, if not wiping out, demand growth prospects for the year across all segments. The outbreak has also affected fleet development, says shipping association BIMCO.Contracting activity has fallen, demolition activity, which had been high
If one ever needed proof that, no matter how dire the situation, there is always a silver lining, look no further than the crude tanker market, which has seen it day rates skyrocket in the face of a global pandemic that has effectively ground world commerce to a crawl.As is the case with other gravity defying business phenomena, geopolitics is a central factor
Even before the effects of the coronavirus, the ‘Phase One’ agreement between China and the US failed to boost volumes of the implicated goods in January. In fact, exports of the manufactured, agricultural and energy goods included in the deal were down 26% from January 2017, which serves as the base year for the agreement.
The U.S. Coast Guard medevaced the captain off of a cargo ship approximately 25 miles off the coast of Ocean City, Md., Tuesday.Crewmembers aboard the Panamanian flagged cargo ship Balsa 84, which was in route to the Delaware Bay area, contacted watchstanders at Coast Guard Sector Delaware Bay's command center at approximately 10:20 a.m.
Weary passengers aboard a cruise ship idled at sea for days by a coronavirus outbreak erupted in cheers on Monday as the vessel sailed into San Francisco Bay en route to the Port of Oakland and the next, unexpected phase of their voyage - two weeks of quarantine.The 2,400 passengers, who have been largely confined to their staterooms since Thursday
For several months last year, a steady stream of ships was observed dredging sand in a North Korean bay then transporting it to China, a Washington-based think-tank said on Wednesday.The extraction of sand from North Korea to China would violate a 2017 U.N. Security Council resolution that prohibits North Korea from “supplying, selling, or transferring sand”
Salvors are continuing work to remove the wreck of a South Korean car carrier vessel that ran aground and overturned near Brunswick, Ga. in September 2019.Last week, unified command contractors started driving the first of 70-80 piles that will be used to hold an environmental protection barrier (EPB) in place around the MV Golden Ray wreck in St.
Vard Marine, a naval architecture and marine engineering company, recently completed the concept design of a new 5,400 cubic meter (CBM) LNG bunker barge for Fincantieri Bay Shipbuilding.The barge is being designed for Polaris New Energy’s bunkering operations that will support LNG fueled ships in the east coast of the United States.
The U.S. Great Lakes freighter fleet are well-renowned for being a 'mature' group of ships, a point magnified yesterday when Fincantieri Bay Shipbuilding started construction on the first U.S.-flagged Great Lakes bulk carrier built in more than 35 years. The shipyard and the owner, The Interlake Steamship Company, hosted a ceremonial first-cut-of-steel event Wednesday, August 14
Digital technology leader ABB has won a contract from Arctic Offshore Farming to power its first-ever remote controlled submersible offshore salmon farm in the Arctic Ocean.ABB will provide a comprehensive package of its leading electrical, automation, instrumentation and telecom technologies that ensure maximum efficiency and minimal environmental impact.