Finland's public transport agency said that an oil tanker suspected of damaging undersea cables in the Baltic Sea was found to have serious deficiencies and will not be allowed to operate until repairs have been made.Baltic Sea nations are on high alert after a string of power cable, telecom link and gas pipeline outages since Russia invaded Ukraine in 2022.
The bipartisan, bicameral bill will fuel U.S. economy, strengthen national security by responding to China’s threat over the oceans. Currently, the number of U.S.-flagged vessels in international commerce is 80; China has 5,500.Today, Senator Mark Kelly (D-AZ), Senator Todd Young (R-IN), Representative John Garamendi (D-CA-8)
HII announced today that it has entered into a definitive agreement to acquire substantially all of the assets of W International SC, LLC and Vivid Empire SC, LLC (collectively “W International”), a South Carolina-based complex metal fabricator specializing in the manufacture of shipbuilding structures, modules and assemblies.
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.
Zelim, an Edinburgh-based maritime safety innovator, has appointed a former Commander of the United States Coast Guard (USCG) Matthew Mitchell to lead its U.S. office as part of the strategy to open new markets for its man-overboard and security threat detection and recovery technologies.
Pangaea Logistics Solutions Ltd., announced a definitive agreement to purchase the remaining 50% equity ownership of its consolidated subsidiary, Nordic Bulk Partners LLC, from HS Nordic LLC, for $17.2 million in cash.The deal is expected to be completed by November 1, 2024. It will see Pangea own 100% of the equity in Nordic Bulk Partners
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.
Palatka, Fla. shipbuilder St. Johns Ship Building delivered Windea Enterprise, the second of three Jones Act-compliant Incat Crowther 30-meter crew transport vessels (CTV) ordered by WINDEA CTV, LLC, a partnership of Hornblower Wind and MidOcean Wind.St. Johns Ship Building has a long-term relationship with WINDEA CTV, LLC, a company focused on U.S.