Business is booming at a sea dock in western Turkey, where five hulking cruise ships are being dismantled for scrap metal sales after the COVID-19 pandemic all but destroyed the industry, the head of a ship recyclers’ group said on Friday.Cruise ships were home to the some of the earliest clusters of COVID-19 as the pandemic spread globally early this year.In March, U.S.
Long Island-based barge operator Bouchard Transportation has filed for Chapter 11 bankruptcy after several years fraught with legal and financial difficulties.The family-owned oceangoing tug and petroleum barge firm filed alongside several of its subsidiaries Monday in the U.S. Bankruptcy Court for the Southern District of Texas.
Insurance claims for damage to ships, goods and the port itself after a warehouse explosion last week in the port of Beirut were likely to total less than $250 million, reinsurance broker Guy Carpenter said on Monday.Overall insured losses - including property damage - from the August 4 port warehouse detonation of more than 2,000 tonnes of ammonium nitrate may reach around $3 billion
Petroleum facilities guards prevented a tanker from entering Libya's Es Eider port to load a cargo of crude oil from storage on Wednesday, the National Oil Corporation (NOC) said in a statement.The Delta Ocean tanker had been blocked from loading despite what NOC Chairman Mustafa Sanalla called "the clear Libyan and international consensus that the NOC should lift force majeure.
With uncertainty surrounding business in general, and specifically the future shape and form of the cruise industry, it was announced the the establishment of the new cruise terminal in Copenhagen is postponed indefinitelyA very significantly changed cruise market, due to the crisis with the coronavirus pandemic
The Independence-class littoral combat ship - the future USS Oakland (LCS 24) - has completed acceptance trials in the Gulf of Mexico, shipbuilder Austal has informed.The LCS 24 is the 12th Independence-class Littoral Combat Ship (LCS) built by Austal USA in Mobile, Alabama for the United States Navy (USN).
Dozens of tankers holding jet fuel and gasoline are at anchor in sea lanes around Europe's main storage hubs, unable to discharge their cargoes as onshore tanks are full to capacity following the collapse in demand linked to the coronavirus crisis.Nearly 1 million tonnes of refined products are parked on around 30 tankers off Europe's coast, Reuters calculations found.
Hedge fund managers sensed oil prices were nearing a turning point last week, and for the first time in more than two months started to add long positions in anticipation prices would bounce from an unsustainable low.Overall, hedge funds and other money managers were still net sellers of 19 million barrels of petroleum in the six most important futures and options contracts in the week ending on
Bouchard Transportation Co. reports all back pay has been processed as the company continues to work to raise capital that would allow it to return its vessels to service, the company's president and CEO Morton S. Bouchard III said Tuesday in a letter to staff, customers and vendors.The full letter is below:To Bouchard Transportation Co., Inc.
The U.S. Coast Guard said it is pursuing enforcement action against Bouchard Transportation Company after the shipping company failed to comply with a captain of the port order for one of its two vessels anchored in the Marine Safety Unit Port Arthur, Texas, area of responsibility.According to the Coast Guard, tugs Kim M. Bouchard and Danielle M.
Siem PCTCs sport MAN ES engines, turbochargers and propellers -- Each ship is estimated to cut CO2 emissions by up to 25%, NOx by up to 30%, particulate matter by up to 60%, and SOx almost completely.Siem Confucius and Siem Aristotle are the names of the new pure car truck carriers (PCTCs), significant in that they are the world’s first trans-Atlantic PCTCs to operate full-time on LNG.
“The decrease in state spending on higher education is what keeps me awake at night” is how RADM Michael Alfultis, President, SUNY Maritime College, neatly summarized the biggest challenge he faces as the leader of one of the U.S.’ leading maritime universities. “With a small student body (about 1700), the numbers simply don’t work