A container ship will depart from South Korea bound for Europe via the Arctic on Saturday, testing whether a route opened by melting sea ice can be commercially viable, but risking friction with Western allies, as the voyage requires Russian cooperation.If successful, the trip would be South Korea's first such commercial voyage to Europe via the Arctic
China's sanctions on U.S.-linked units of shipbuilder Hanwha Ocean threaten to impact ambitious plans for shipbuilding cooperation between Seoul and Washington by disrupting supplies of Chinese equipment and materials, officials in Seoul said on Friday.Beijing announced the sanctions on Tuesday as the U.S.
Britain targeted Russia's two largest oil companies, Lukoil and Rosneft, and 44 shadow fleet tankers on Wednesday in what it described as a new bid to tighten energy sanctions and choke off Kremlin revenues.Lukoil and Rosneft were designated under Britain's Russia sanctions laws for what London described as their role in supporting the Russian government.
South Korea's HD Hyundai Heavy Industries is in talks with multiple companies about buying a U.S. shipyard, a senior company executive said, seeking to tap into President Donald Trump's push to revive America's ailing shipbuilding industry.The world's largest shipbuilder based on orders is targeting 3 trillion won ($2.2 billion) in annual revenue by 2035 from building warships for the U.S.
South Korea's HD Hyundai Heavy Industries, the world's biggest shipbuilder, said on Wednesday that it plans to merge with its affiliate HD Hyundai Mipo as it targets a bigger slice of the U.S. shipbuilding market.With the merger, the company said it aims to lead U.S.-Korea shipbuilding cooperation projects touted during a recent summit between the leaders of the countries that Seoul has dubbed
The following article is an op-ed piece from Andrei Barotov and Kristiina Peterson, Chief Specialists of Maritime Competitiveness at the Estonian Transport AdministrationLeveraging its ‘e-Estonia’ digital society initiative, the government of Estonia is preparing to extend the digital reach of EST Flag ship registration services, while also expanding its tonnage eligibility.
British maritime security company Ambrey said it has been engaged in the salvage of the stricken tanker Caroline Bezengi off the Omani coast and that salvage vessels are en route to support the operation.The Caroline Bezengi tanker, carrying an estimated 800,000 barrels of Russian oil and under international sanctions
“Never before have we witnessed such comprehensive alignment between Republicans and Democrats, industry, and organized labor for rebuilding our great nation’s maritime industry.”Arizona Senator and U.S. Merchant Marine Academy alum Mark Kelly (D-AZ) and Representative John Garamendi (D-CA-08) published an op-ed in Fox News highlighting the momentum to rebuild the U.S.
South Korean shipbuilder Hanwha Ocean said in its first-quarter earnings presentation on Monday that uncertainty is rising over demand for commercial vessels due to the ongoing conflict in the Middle East.The market for very large crude carriers (VLCCs) has been hit hard by the Iran war, the company said, as shipping rates have soared with some crude carriers stuck in the Strait of Hormuz.
The U.K. government has committed up to $85 million (£64 million) to support the development of a floating offshore wind port at Port Talbot in Wales, as part of efforts to expand clean energy capacity.The funding will support Associated British Ports (ABP) in completing design and engineering work required to develop infrastructure for floating offshore wind projects in the Celtic Sea.
Energy prices surged on Thursday after Iran struck the world’s largest LNG complex, causing damage that Qatar said could take five years to repair, as the energy sector's worst fears about the war launched by the U.S. and Israel on Iran came true.QatarEnergy CEO Saad al-Kaabi told Reuters the state-owned gas company may have to declare force majeure on long-term contracts to Italy, Belgium
In March 2020, Tekarara Kabangaki would receive news that would change the course of her life forever: her husband, Eritara Aati Kaierua, was found dead aboard the fishing vessel he was working on.Now, more than five years on, questions remain concerning his death and the subsequent investigation.