While global energy markets are not yet pricing in worst-case scenarios for the Israel-Iran war, oil tanker rates are providing a good real-time gauge of the escalating risks.Geopolitical risk has spiked following Israel's surprise bombardment of the Islamic Republic last Friday and Iran's retaliatory ballistic missile strikes, leading to a rally in global energy prices
International nonprofit organisation Freedom Flotilla Coalition (FFC) said one of its vessels left the Italian port of Catania on Sunday, heading for Gaza to deliver humanitarian aid, after a previous attempt failed due to a drone attack on a separate ship in the Mediterranean.The crew of volunteers, including climate activist Greta Thunberg and Irish actor Liam Cunningham
Australia conditionally approved on Wednesday a request by Woodside Energy to extend until 2070 the life of its North West Shelf gas plant, following a six-year review dogged by delays, appeals and backlash from green groups.The facility on the Burrup peninsula in Western Australia is the country's oldest and largest liquefied natural gas plant and a key supplier to Asian markets
Confusion over new fuels will not be helped by the fact that each one has a good and bad version. The science on grey ammonia, grey methanol, and palm oil biofuel show that these are probably worse for the planet, if adopted, than unfettered continuation of fossil fuel consumption.
Taiwan prosecutors on Friday for the first time charged a Chinese ship captain with intentionally damaging undersea cables off the island in February, after a rise in sea cable malfunctions alarmed Taiwan officials amid tensions with China.Prosecutors say the man was captain of the Chinese-crewed Hong Tai 58, registered in Togo
President James Earl "Jimmy" Carter passed away on December 29, 2024, at the age of 100.President Carter graduated from the U.S. Naval Academy in 1946 with distinction, after which he was assigned to USS Wyoming (E-AG 17) as an ensign. After completing two years of surface ship duty, Carter applied for submarine duty.
A Russian oil tanker carrying thousands of tonnes of oil products split apart during a heavy storm on Sunday, spilling oil into the Kerch Strait, while another tanker was also in distress after sustaining damage, Russian officials said.The vessels were in the Kerch Strait between mainland Russia and Crimea, which Russia annexed from Ukraine in 2014, when they issued distress signals.
Two undersea fibre-optic communications cables in the Baltic Sea, including one linking Finland and Germany, were severed, raising suspicions of sabotage by bad actors, countries and companies involved said on Monday.The episode recalled other incidents in the same waterway that authorities have probed as potentially malicious including damage to a gas pipeline and undersea cables last year and
New Zealand's Defence Minister on Thursday publicly criticised online trolling of the female captain of a naval vessel that sunk at the weekend, saying while the cause of the incident was unknown, it had nothing to do with the captain’s gender.The Manawanui, the navy's specialist dive and hydrographic vessel, sank on Sunday on a reef off the coast of Samoa that it was surveying.
Fifteen crew members have been rescued from an offshore supply vessel (OSV) that went up in flames off the coast of South Africa.The fire reportedly broke out and grew out of control in the messroom aboard the Marshall Islands registered vessel AM Pride on Thursday, in an ocean area approximately 48.
Four seafarers have been abandoned without pay on a 60-year-old tugboat in Washington State.The vessel, Wycliffe, recently changed its flag to Vanuatu, and was scheduled to help tow two retired Washington State Ferries vessels for a 34-day transit to Ecuador – where the new owner is based – for scrap, but the contract was canceled after the tug experienced technical issues.
Divers scoured the wreck of a luxury yacht off Sicily's coast on Tuesday to find six missing people, including British tech entrepreneur Mike Lynch and a Morgan Stanley executive, following an intense storm that sank the vessel on Monday.The British-flagged Bayesian, a 56-metre-long (184-ft) superyacht, was carrying 22 people and anchored off the port of Porticello when it was hit by the fierce