At a recent seminar in London organized by the International Underwriting Association of London (IUA) and the Association of Average Adjusters (AAA), participants heard how ignoring or not fully understanding the concept of General Average (GA) when concluding charter-party contracts for offshore services could cause problems in the event of an incident or accident.
MarineNews Editor Joseph Keefe weighs in with a look at the previous five years on the waterfront. It’s not what you think.You might be aware that I stepped away for a moment in late December 2019. The five years that followed, whizzed right by – well, all but that miserable part of being virtually locked in my house for six months during “the Pandemic.” Enough said.
A Singapore-registered containership allided with an iconic training tall ship at berth in Australia's Port of Fremantle on Friday, causing damage to both vessels.The 332-meter box ship Maersk Shekou was proceeding into the harbor under pilotage, assisted by four tugs when it struck the STS Leeuwin II, which was at berth.
Product and chemical tanker shipping company Ardmore Shipping Corporation on Monday announced that its current senior vice president and chief commercial officer Gernot Ruppelt will succeed company founder Anthony Gurnee as CEO.Gurnee will retire on September 16, 2024, at which point Ruppelt will step into the CEO position and current CFO Bart Kelleher will take on the additional role of
Singapore-based Seatrium has secured a series of major contracts for vessel repairs, upgrades and conversions, set for completion by the end of 2025.With an aggregate value of S$350 million ($259 million), the contracts have reinforced Seatrium’s reputation as a one of the market leaders in vessel repairs, upgrades and conversions.
The UK-owned Rubymar, attacked by Houthi militants last month, has sunk in the Red Sea, Yemen's internationally recognized government said on Saturday, warning of an "environmental catastrophe" from the ship's cargo of fertilizer.The vessel is the first lost since the Houthis began targeting commercial shipping in November, forcing shipping firms to divert vessels on to the longer
Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has launched the masterplan for THE RIG – a world-first adventure tourism destination to be built on an offshore platform in the Arabian Gulf.The vision for THE RIG project is to redefine the sea sports and leisure experience while celebrating the legacy of Saudi Arabia's rich oil and gas heritage.
Denmark, France, Germany, Sweden and the Netherlands have signed the Aalborg Declaration that aims at joint European cooperation on CO2 capture, use and storage (CCUS).CO2 capture, use and storage must be scaled up, both nationally and at European level, the countries agreed at the signing which occurred at the EU's CCUS Forum this week, hosted in Aalborg, Denmark.
The construction of the next cruise ship for Disney Cruise Line has reached another milestone: assembly of the ship's hull began today with the traditional keel-laying ceremony. The ship is the sister ship of the Disney Treasure, which is also under construction, and the Disney Wish, which launched in 2022.The keel was laid in the 504-meter-long covered building dock at Meyer Werft in Germany.
Carnival Corporation, the world's largest cruise company, announced that in March 2025, the company will sunset the P&O Cruises Australia brand.The New-York-listed cruise giant said the move is once of several intended to increase guest capacity for its flagship brand, Carnival Cruise Line, which will absorb the operations of shuttered Australian cruise brand.
Norwegian shipowner Gram Car Carriers announced it has refinanced the Viking Adventure with an undisclosed Japanese bank.The new $41 million loan has a duration matching the vessels current charter ending in mid-2028 and a margin of SOFR +1.73%. This compares a margin of SOFR +4.26% under the previous lease financing which was repaid earlier this year, the company said.
Russia's leading tanker group Sovcomflot is considering alternative shipping routes in case of further escalation of the crisis in the Red Sea, the TASS news agency reported on Tuesday.The United States and Britain launched a series of strikes on Yemen last week aimed at the Iran-backed Houthi militia