A powerful blast in port warehouses near central Beirut storing highly explosive material killed 78 people, injured nearly 4,000 and sent seismic shockwaves that shattered windows, smashed masonry and shook the ground across the Lebanese capital.Officials said they expected the death toll to rise further after Tuesday's blast as emergency workers dug through rubble to rescue people and remove
A snap poll recently conducted by ABS found that as many two-thirds of global shipowners had yet to select a technical pathway to meet the International Maritime Organization’s (IMO) mandatory decarbonization targets for 2030 and 2050.With the technologies supporting a myriad of new low-carbon fuels evolving at vastly different speeds
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
Ship owners and insurers say it may be impossible for the maritime industry to fully comply with the Trump administration’s new guidelines on how to avoid sanctions penalties related to Iran, North Korea and Syria, raising the risk of disruptions in a sector already struggling with the fallout of the coronavirus outbreak.The advisory issued this month marked the first U.S.
The U.S. Navy hospital ship Comfort departed New York harbor on Thursday, just a month after arriving to help ease the strain on overburdened city hospitals dealing with the novel coronavirus outbreak.The 1,000-bed Navy vessel, headed back to its home base in Norfolk, Virginia, never neared its capacity, even as the city quickly became the world’s epicenter for COVID-19 infections.
A lack of operating procedures for continuous active monitoring contributed to the extent of damage caused by a 2019 fire on board a laid-up bulk carrier in Toldeo, the National Transportation Safety Board said in a report.At about 8:10 p.m. local time on February 16, 2019, a fire was reported on the 770-foot-long St.
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
Several workers on a BP Plc oil platform in the U.S. Gulf of Mexico have tested positive for coronavirus, the company said on Wednesday, a day after a worker at BP's operations in Alaska also tested positive.The cases are the first recorded among oil workers in the Gulf of Mexico and Alaska, and follow a positive test at an Equinor offshore project in the North Sea.
U.S. President Donald Trump revealed Thursday that Carnival Corp. chairman Micky Arison has said he will make some cruise ships from his idled fleet available to be used in addition to the U.S. Navy hospital ships being deployed in response to the COVID-19 pandemic.“This morning, I spoke with Micky Arison of Carnival Cruise Lines and he’s going to make ships available.
INSIGHTS: Thomas C. Escher, Chairman, Red and White FleetIn 1960, Tom Escher, the grandson of the founder and now the current owner, started working as a sweeper and a mechanics helper on the Red and White vessels. In 1997, Escher purchased the Red and White Fleet, becoming the third generation of the family to own and operate the business.
The White House has reached a "deal in principle" with Beijing to resolve the 17-month U.S.-China trade war, according to a source briefed on the trade talks.The White House was expected to make an announcement later on Thursday, the source said."The written agreement is still being formulated, but they have reached an agreement in principle," the source said.
P&O FERRIES has signed a contract with Guangzhou Shipyard International Ltd worth $285 million for two new 230-meter super-ferries – the largest ever to sail between Dover and Calais – that will be operational by 2023. The contract includes options to build two further vessels by 2024.