The cost of insurance for ships sailing through the Red Sea has nearly doubled after Yemen's Houthis attacked a tanker that appears to be leaking oil, with environmental fears growing for trade route, industry sources said on Wednesday.Iran-aligned Houthi militants first launched aerial drone and missile strikes on the waterway in November in what they say is solidarity with Palestinians in Gaza.
In the last decade, changing U.S. Administrations have become increasingly tumultuous, as the swings in priorities and directives have a real, material impact on business. Read on for insights on the current and future of U.S. Offshore Wind.In the weeks preceding his late January inauguration
The Coast Guard gets its first new polar icebreaker in more than 25 years.The Coast Guard has accepted its first new polar icebreaker in more than 25 years, but it’s not really new. The 12,900-ton, 360-foot Anchor Handling Tug Support Ship (AHTS) Aiviq was acquired by the Coast Guard and renamed USCGC Storis (WAGB 21).According to a Coast Guard statement, “On Nov.
Early 2024 saw a group of financial deals that have implications, in a broad sense, for how offshore wind projects may be financed. While offshore wind projects might be thought of as being in the ‘utility finance’ basket, they are ultimately high-risk deals that might better suit the portfolios of ‘infrastructure investment’ which, in recent years
The U.S. Coast Guard Cutter Storis (WAGB 21), the Coast Guard’s first polar icebreaker acquired in more than 25 years, has departed on its maiden voyage.The motor vessel Aiviq, acquired Dec. 20, 2024, from an Edison Chouest Offshore subsidiary, was renamed Storis following modifications to enhance communications and self-defense capabilities.The vessel will expand U.S.
The Port of Oakland’s container business continues to grow. Total cargo volume shot up 10% year-to-date, January through November 2024, compared to the same period in 2023.“We are optimistic that strong container volume will continue through the end of the year,” said Port of Oakland Manager of Business Development and International Marketing Carolyn Almquist.
The Coast Guard announced it accepted ownership of the motor vessel Aiviq, a 360-foot polar class 3-equivalent icebreaker, from an Edison Chouest Offshore subsidiary Friday.The vessel, acquired Dec. 11, will enhance U.S. operational presence in the Arctic and support Coast Guard missions while awaiting delivery of the Polar Security Cutter (PSC) class.
Edison Chouest Offshore (ECO) affiliate C-Innovation (C-I) on Monday announced it has signed a new three-year contract with bp for field development, and inspection, maintenance and repair (IMR) work.The contract, which has options for two one-year extensions, is for the provision of two subsea construction vessels, C-Constructor and Holiday
Amidst sensational headlines and questionable policy decisions from Washington, D.C., the U.S. offshore energy sector stands resilient. This vital industry not only powers our nation with reliable energy but also enables hundreds of thousands of jobs across all 50 states and strengthens national security.