Since Russia’s invasion of Ukraine a year ago, most of the fighting has been on land. However, there has also been a less visible – but nonetheless crucial – maritime dimension to the war across the full spectrum of tactical, strategic, economic and diplomatic considerations.After land troops crossed the Ukraine border on February 24 2022
European Union countries agreed to set price caps on Russian refined oil products to limit Moscow's funds for its invasion of Ukraine, the Swedish presidency of the EU said on Friday.EU diplomats said the price caps are $100 per barrel on products that trade at a premium to crude, principally diesel, and $45 per barrel for products that trade at a discount, such as fuel oil and naphtha.
The American Bureau of Shipping (ABS) has approved in principle the Bassoe D-Floater, a floating offshore wind turbine foundation.It is said that the Bassoe D-Floater foundations will be able to handle 15 megawatt offshore turbines, which will be among the world's largest. Apart from prototypes being tested onshore, there are no 15 MW turbines installed offshore as of yet.
Philly Shipyard held a steel cutting ceremony for the fourth in a series of new training ships it is building for the United States' state maritime academies.Scheduled for delivery to the Texas A&M Maritime Academy in Galveston, Texas in 2025, the new National Security Multi-Mission Vessel (NSMV) is being built under a program for the U.S.
Declining world supply chain pressures are being challenged by new disruptions in China tied to the coronavirus pandemic, the New York Federal Reserve reported on Friday.The regional Fed bank's December Global Supply Chain Pressure Index ticked down to 1.18 from November's revised 1.23 reading.
Oil tankers formed a traffic jam off the coast of Turkey on day one of the West's price cap on Russian crude, with Ankara insisting on new proof of insurance for all vessels, the Financial Times reported on Monday.Around 19 crude oil tankers were waiting to cross Turkish waters on Monday, the report said, citing ship brokers, oil traders and satellite tracking services.
European Union governments tentatively agreed on Thursday on a $60 a barrel price cap on Russian seaborne oil - an idea of the Group of Seven (G7) nations - with an adjustment mechanism to keep the cap at 5% below the market price, according to diplomats and a document seen by Reuters.The agreement still needs approval from all EU governments in a written procedure by Friday.
The first in a series of new training ships being built for the United States' state maritime academies was launched at Philly Shipyard on Saturday.The newbuild, Empire State VII, is the first of five new National Security Multi-Mission Vessels (NSMV) being built under a program for the U.S.
Dutch maritime equipment and technology firm Royal IHC has handed over the converted J-lay vessel Amazon to McDermott International.Royal IHC said: "For this project, Royal IHC has converted Amazon into the modern and state-of-the-art J-lay vessel it is today. The patented system, with dynamic top tension capacity of 1.
ABB said Monday its digital technologies have enabled the harbor tug Maju 510 to become the first vessel in the world to receive Autonomous and Remote-Control Navigation Notation from ABS classification society, and first Singapore-flagged vessel to receive the Smart (Autonomous) Notation from MPA.
Erik Milito, president of the U.S. National Ocean Industries Association, said this week that the U.S. government's decision not to hold offshore oil and gas lease sales in the Gulf of Mexico and Alaska’s Cook Inlet was expected, but also "devastating to Americans.""This decision is not surprising at all.
Fincantieri’s shipyard in Muggiano on Friday delivered Paolo Thaon di Revel, the first of seven new Multipurpose Offshore Patrol ships (PPA – Pattugliatore Polivalente d’Altura) for the Italian Navy.The 143-meter-long PPAs are built at the Integrated Shipyard of Riva Trigoso and Muggiano, with deliveries expected until 2026.