A critical channel deepening project that will help move cargo more efficiently to and from the U.S. advanced Monday after the Long Beach Harbor Commission concluded an extensive environmental review process and greenlit the endeavor.The work will also allow the port to welcome newer cleaner, and more efficient cargo vessels.
The Interlake Steamship Company held a christening ceremony in Cleveland on Thursday for its new vessel, Mark W. Barker, the first U.S.-flagged freighter built on the Great lakes in nearly four decades.“This is truly a historic celebration for our company and for the United States maritime industry as we proudly christen the newest vessel to join the U.S.
A damaged oil pipeline component that disrupted output at several offshore U.S. Gulf of Mexico platforms was repaired late Friday, a Louisiana official said, with producers moving to reactivate some of the halted production.A failed flange connecting two onshore pipelines operated by Shell Plc in Louisiana leaked an estimated two barrels of oil.
U.S. crude shippers are exporting huge amounts of oil to meet strong demand from Europe following Russia's invasion of Ukraine and subsequent sanctions against Moscow. In coming years U.S. oil may find even more buyers overseas, but that could test the capabilities of U.S. export infrastructure.How much crude does the United States typically export?U.S. crude exports averaged 3.
Eastern Shipbuilding Group hosted the keel laying ceremony for the U.S. Coast Guard’s future Offshore Patrol Cutter (OPC), USCGC Ingham (WMSM-917), the third vessel in the new Heritage Class built at the Nelson Street facility. The presiding official for the U.S. Coast Guard was Rear Admiral Chad L. Jacoby, Director of Acquisition Programs & Program Executive Officer (CG-93).
The global oil and natural gas markets are contending with rebounding energy demand on top of supply disruptions from Russia’s invasion of Ukraine. As a result, activity and business sentiment in the floating production sector have seldom been stronger. Brent crude has been trading above $100 over the past three months
Adm. Linda L. Fagan has been confirmed as the 27th Commandant of the U.S. Coast Guard, clearing way for her to be the first woman top officer in one of the military services. The Senate on Wednesday approved Fagan’s promotion, along with those of five other senior Coast Guard officers, by unanimous consent.Nominated for the role by President Joe Biden in April, Fagan will succeed Adm.
President Joe Biden nominated Adm. Linda L. Fagan to serve as the 27th Commandant of the U.S. Coast Guard. Upon confirmation, Adm. Fagan will be the first woman to serve as Commandant of the Coast Guard.Adm. Fagan currently serves as the 32nd Vice Commandant, having assumed the duties on June 18, 2021.
The voluntary shunning of Russian commodities by Western buyers, or self-sanctioning, was expected to start hitting exports of crude oil, liquefied natural gas (LNG) and coal from April, but there are already signs that flows are weakening.Russia's invasion of neighbouring Ukraine has prompted numerous Western companies to withdraw from their investments in Russia and scale back or halt their
Oil prices spiked to their highest levels since 2008 on Monday as the United States and European allies weighed a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled supply fears.In the first few minutes of trade Brent crude reached $139.13 and U.S. West Texas Intermediate (WTI) hit $130.
Oil benchmarks are hitting multiple price and spread milestones across several key markets as the fallout from severe sanctions on key exporter Russia sows confusion and panic among global crude oil traders, shipping firms and importers.The oil industry has been gripped by acute risk aversion in the finance and shipping sectors after several nations including the United States sanctioned
Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers.Brent crude rose $2.16, or 2.4%, to settle at $93.27 a barrel having earlier touched its highest since October 2014 at $93.70.U.S. West Texas Intermediate crude ended $2.