Wight Shipyard Co. (WSC) debuts a hybrid patrol vessel designed to reduce both fuel costs and engine maintenance.“This ground-breaking project aims to set new standards in high speed, fuel economy and light weight vessels in the sector. Building greener vessels has been an integral focus for some time now so moving into hybrid options is the obvious next step forward,” said Peter Morton, CEO
Hong Kong-based Orient Overseas International Ltd. (OOIL) said that it will sell Long Beach Container Terminal (LBCT) to a consortium led by Australia’s Macquarie Group for $1.78 billion.OOIL, which is majority-owned by Cosco Shipping Holdings, was the terminal operator under a lease agreement with the port.
The advent of U.S. offshore wind also brings the need for the quality and quantity of built-for-purpose vessels needed to sustain its momentum.As the long-awaited advent of offshore wind finally arrives on this side of the big pond, one question which continues to dominate the conversation is where (and when) the fit-for-purpose tonnage necessary for this great leap forward will come from.
A sunken derrick barge has been raised from the Gulf of Mexico seafloor following several months of planning, engineering, on-site preparations and the heaviest salvage lift ever accomplished in the Americas, said marine services and wreck removal specialists Resolve Salvage and Fire Americas.
Britain's transport minister was under fresh pressure to resign after the government stacked up a 50 million pound ($65 million) loss for cancelling contracts to charter extra ferries to bring in essential supplies in the event of a no-deal Brexit.The decision to award the contracts has been a major political embarrassment after it emerged the government handed out a 14 million pound contract
Nine leading ocean carriers and terminal operators today signed a formal statement of intent for a Memorandum of Understanding (MOU) to form a consortium to develop the Global Shipping Business Network (GSBN), an open digital platform based on distributed ledger technology.According to a statement, the participants include COSCO Shipping Lines, CMA CGM, Evergreen Marine, OOCL, Yang Ming, DP World
Global law firm Norton Rose Fulbright has advised Citigroup and other lenders of Danaos on a $2.2 billion restructuring of NYSE-listed Danaos Corp (DAC), one of the world’s largest independent owners of modern, large-size containerships.Norton Rose Fulbright’s Athens, London and New York offices advised Citigroup and certain other lenders (including China Exim Bank and Eurobank) on new money
GasLog Partners announced that it has entered into a new multi-year time charter for the GasLog Sydney with a wholly owned subsidiary of Cheniere Energy scheduled to commence in 2018. The charterer has options to extend the charter for up to two consecutive periods at escalating rates.
Royal Dutch Shell on Thursday announced the start of production at the Kaikias field in the U.S. Gulf of Mexico, around one year ahead of schedule.Production from the subsea deep water development, which will reach 40,000 barrels of oil equivalent per day, comes after Shell reduced its costs by around 30 percent to allow it to generate profit at less than $30 a barrel, the company said.
The Panama Canal welcomed the Norwegian Cruise Lines-operated Norwegian Bliss, the largest passenger vessel which to ever transit the waterway. The vessel weighs more than 168,000 gross tons and can carry nearly 5,000 passengers "The Panama Canal is proud to welcome the Norwegian Bliss and recognizes that this distinct milestone is made possible by the Canal Expansion
The International Marine Contractors Association (IMCA) announced Tuesday it has completed its existing guidance on dynamic positioning (DP) with the newly published ‘Guidance to Identify DP System Components and their Failure Modes’ (IMCA M 247).“Unexpected events that jeopardize station keeping integrity are regularly reported via the IMCA DP Station Keeping Report Scheme.
Simec Atlantis Energy announced that it has appointed Mr. Andy Richardson into the role of Chief Operating Officer at Simec Atlantis Energy.A press release from the global developer, owner and operator of sustainable energy projects with a diversified portfolio of more than 1,000 megawatts in various stages of development said that this will be a non-Board appointment.