The U.S. House of Representatives approved legislation Monday to improve oversight of ocean shipping, which supporters say will help curb inflation and ease export backlogs. The bill was approved 369-42 and will head to the White House for President Joe Biden's signature. Biden said in a statement he looked forward to signing it into law.
The head of Lebanon's Hezbollah said on Thursday that his group could stop Israel from extracting gas from a maritime field that Beirut says lies in disputed waters, adding Hezbollah is "not afraid of war."Lebanon warned Israel on Sunday against any "aggressive action" in disputed waters where both states hope to develop offshore energy
The Italian government ordered police on Friday to impound a luxury yacht worth some $700 million that has been linked in the media to Russian President Vladimir Putin.The sleek, six-deck Scheherazade had been undergoing repairs in the Italian port of Marina di Carrara since September, but recent activity at the dockside suggested that the crew might be preparing to put to sea.
Marine fuel sellers have stopped serving vessels flying the Russian flag at major European hubs including Spain and Malta in another blow to Moscow's exports, five industry sources with knowledge of the matter told Reuters.Losing access to refueling points in the Mediterranean Sea poses major logistical problems for Russian oil tankers going from Baltic ports to Asia and also creates safety
Three Panamanian-flagged ships have been hit by Russian missiles in the Black Sea since Russia’s invasion of Ukraine last month, Panama’s Maritime Authority said on Wednesday.One ship sank, the maritime authority said in a statement, but there were no casualties reported. The two others remain afloat with damages.
U.S. President Joe Biden announced a ban on Russian oil and other energy imports on Tuesday in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices."We're banning all imports of Russian oil and gas energy," Biden told reporters at the White House. "That means Russian oil will no longer be acceptable in U.
The U.S.' largest military shipbuilder Huntington Ingalls Industries said Friday its Chief Operating Officer Chris Kastner would become HII president and chief executive officer, consistent with the company’s succession plan. The HII board also elected president and CEO Mike Petters to become executive vice-chairman of the board for a transition period.
Containership giant Seaspan Corporation announced on Wednesday that it now has financing lined up for its entire 70-vessel newbuild program.With the completion of the latest $1.4 billion deal in December, Seaspan said its financing proceeds are approximately $6.9 billion.Seaspan, a subsidiary of Atlas Corp, said the $1.
Shipping group CMA CGM on Friday reported a surge in third-quarter earnings and said it expected an even stronger performance for the end of the year as intense demand kept freight rates high and container capacity stretched.French-based CMA CGM, one of the world's largest container lines, said net profit rose to $5.
The White House on Wednesday lauded improvements in clogged U.S. supply chains, with more goods moving than ever before, but said more work was needed to ensure fair competition in a global shipping sector dominated by three alliances of ocean carriers.In a new blog, the White House National Economic Council said the Federal Maritime Commission (FMC), an independent agency
A container fire that broke out on Saturday on a cargo ship carrying mining chemicals off British Columbia is smoldering and appears to be under control, Canadian Coast Guard officials said on Sunday.Sixteen crew members were evacuated from the MV Zim Kingston on Saturday, while five remained onboard to fight the fire.
Chris Wiernicki, CEO, ABS, discusses the evolution of multi-physics simulation and its importance in reaching decarbonization goals through 2050.As the pace of technological evolution rapidly quickens, shipowners are increasingly forced to embrace change to ensure their fleets stay in compliance with new regulations and stave off obsolescence.