A wave of oil and gas bankruptcies in North America is likely to continue this year as oil prices remain depressed and a new surge of COVID-19 cases threaten to stall any recovery in fuel demand, law firm Haynes and Boone said in a report released this week.Bankruptcies surged in the second quarter, including from major shale independents Chesapeake Energy and Whiting Petroleum
John Waterhouse is a ubiquitous character in the U.S. maritime industry, a deep-thinker, a signature bow tie and more than three decades of naval architecture and marine engineering experience and success as co-owner of the Seattle-based Elliott Bay Design Group (EBDG).While growing up, John Waterhouse spent some time in Vancouver, BC, Canada
The world’s first nuclear-powered ship is making its way back to Baltimore flowing a repair stay in Philadelphia.On Thursday, the N.S. Savannah began its journey back from drydocking in preparation for decommissioning.Having spent the last few months at Northeast Ship Repair undergoing general inspection, repairs and structural modifications
Fincantieri Bay Shipbuilding (FBS) says it will upgrade its shipyard equipment and facilities this year as it prepares to assist with work on the Navy’s new guided-missile frigate FFG(X) program.FBS is partnering with its sister shipyard Fincantieri Marinette Marine, who was awarded the $795 million contract for the Navy’s first-in-class frigate April 30, 2020.
Even as shipowners enjoy record low bunker fuel pricing, the search for hull cleaning and fuel-saving optimization continues. Jotun, which recently launched 'hull skater' hull grooming, found a willing partner in Wallenius Wilhelmsen -- an operator of a fleet of 126 RoRo vessels, 11 marine terminals and 71 processing centers globally -- to put the hull skater to the test.
EnBW Baltic 2 one of Germany’s largest offshore wind farms in the Baltic Sea will soon be serviced from the Danish port of Klintholm on the island of Møn, EnBW said Tuesday. The company has so far had its service team of up to 25 people travel from Rostock to a hotel vessel close to the EnBW Baltic 2 offshore wind farm.
Golden Energy Offshore, Kongsberg collaborate to reduce operational fuel consumption.While vessel owners mull a myriad of fuel and emission reduction technologies, Norwegian Offshore Service Vessel (OSV) owner and operator Golden Energy Offshore reports a 20% operational fuel savings courtesy of its work on vessel performance monitoring with Kongsberg Maritime
A study published by researchers at Woods Hole Oceanographic Institution (WHOI) shows that polystyrene, one of the world’s most ubiquitous plastics, may degrade in decades or centuries when exposed to sunlight, rather than thousands of years as previously thought. The study published October 10, 2019, in the journal Environmental Science and Technology Letters.
The Port of Hamburg, responding to reports of bottlenecks in the supply of empty containers, conducted a flash poll this week asking shipping lines about the current situation and found that shipping lines see no appreciable scarcity of equipment in Hamburg and other German seaports, with no shortages expected to arise.
London-based international law firm Watson Farley & Williams has advised TUI Cruises GmbH on its acquisition of Hapag-Lloyd Cruises from TUI AG for US$1.3bn, excluding net debt.According to the the transaction is subject to customary closing conditions and regulatory approvals and is expected to close in summer 2020.
Hawaii Congressman Ed Case has introduced three bills in Congress to reform Merchant Marine Act of 1920 (commonly referred to as the Jones Act), which he states “artificially inflates the cost of shipping goods to Hawaii”.Case’s three measures and their proposed amendments to the Jones Act are:the Noncontiguous Shipping Relief Act, which exempts all noncontiguous U.S.
The Shanghai port has topped UNCTAD’s 2019 ranking of the world’s best-connected ports, released yesterday (7 August).The Chinese port garnered a connectivity score of 134 points, followed by the ports of Singapore (124.63 points), Pusan (114.45 points) in Korea and Ningbo (114.35 points), also in China. The index is set at 100 for the best-connected port in 2006, which was Hong Kong, China.