Artificial intelligence (AI) is set to revolutionize shipping by enhancing safety and efficiency, Christopher J. Wiernicki, ABS Chairman and CEO, said, while also noting the growing importance of the human touch in this high-tech era.“Maritime 5.0 will be defined by the ever-expanding capabilities of artificial intelligence, driving our complex industry to be safer
India approved on Wednesday plans to construct two of a new class of nuclear-powered attack submarines, two defence officials said, in a project estimated to cost about 450 billion rupees ($5.4 billion).As India scrambles to modernise its military in the face of China's growing presence in the Indian Ocean region, it is focusing on boosting naval capabilities
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
The first US-built trawler-processor for Alaskan pollock in over three decades is now undergoing sea trials in the Northern Pacific, testing an integrated technology package from Kongsberg Discovery tailored to locate, inspect, and engage fish with unparalleled efficiency.The 100-meter-long Arctic Fjord, designed by Kongsberg Maritime and built by Louisiana’s Thoma-Sea Marine Constructor
The U.S. Coast Guard on Sunday located four Russian Federation Navy (RFN) vessels 57 miles northwest of Point Hope, Alaska. While on a routine patrol in the Chukchi Sea, the crew of U.S. Coast Guard Cutter Stratton (WMSL 752) observed the RFN vessels transiting southeast along the Russian side of the Maritime Boundary Line (MBL).
According to the Norwegian Offshore Directorate's projected scenarios leading up to 2050, the difference between high and low production of oil and gas can amount to nearly an entire government pension fund.Norway still has extensive oil and gas resources on the Norwegian continental shelf (NCS).
Crowley named Walter Tague as vice president of sales and supply for its Crowley Fuels businesses unit, which services energy logistics needs throughout Alaska. With more than 30 years of maritime industry experience specializing in supply chain management and support in the oil and gas sectors, Tague will oversee Crowley’s marketing, sales
Senesco Marine held a launch and christening ceremony for WindServe Marine's new Jones-Act-compliant crew transfer vessel (CTV), WindServe Explorer.WindServe Marine, a sister company to the North Kingstown, R.I. shipbuilder—both part of the Reinauer Group—will operate the CTV to serve the U.S. offshore wind industry. The vessel is slated to enter operations at a project in the U.S. Northeast.
2023 was the first year of real recovery for owners in the offshore supply market and yet we have barely skimmed the surface of what’s to come.The market is still on an upward trajectory with charter rates accelerating month-by-month, availability changing day-by-day, leading to earnings doubling and, in some segments, tripling since the lows of 2020.
Analysts and commentators are quick to point out that fossil fuels will power maritime equipment, and indeed dominate the fueling marketplace, well into the future. However, they will do so alongside new fuels, and new technologies, that will be introduced to the maritime sector in the coming years.
U.S. shipping company Overseas Shipholding Group announced it will upgrade all four vessels in its Alaskan Class fleet with new methanol-ready engines from MAN Energy Solutions.The vessels Alaskan Explorer, Alaskan Frontier, Alaskan Legend and Alaskan Navigator, all approaching 20 years in age, will receive significant engine and operational improvements
On December 13, 193 blocks were auctioned in Brazil’s oil and gas licensing round, signaling strong optimism for the industry, according to Wood Mackenzie.Highlights from these bid rounds included:• The total amount in bonuses was US$85 million• 44 blocks were acquired in the Pelotas Basin, a frontier area.