Flex LNG, a liquefied natural gas shipping company and part of the nautical empire of Norwegian billionaire John Fredriksen, has dropped its interest in operating floating regasification units due to project failures and low returns. Floating Storage Regasification Units (FSRUs) have been lauded by analysts as transformative for the LNG industry by opening up emerging markets to supplies as the
The RMS St. Helena, Britain’s last working postal ship, was for nearly three decades the main source of contact between one of humanity’s remotest islands and the outside world.Now the ship, cherished by the 4,500 residents of British-ruled St. Helena, will start a new life as a floating armory, packed with automatic weapons, bullet-proof jackets and night vision goggles
MMA's RADM McDonald joyfully announces that the long-awaited National Security Multi-mission Vessel (NSMV) Program now has legs. On Friday 23 March 2018, President Donald Trump signed the FY18 Omnibus spending bill into law. Massachusetts Maritime Academy President Fran McDonald brought the news to his MMA constituents in a brief prepared staement
The Trump administration is considering sanctioning a Venezuelan military-run oil services company and restricting insurance coverage for Venezuelan oil shipments to ratchet up pressure on socialist President Nicolas Maduro, a U.S. official said. With Maduro running for another term in an April election that Washington and its allies oppose as a sham
In the 29 years that towboat captain Joe Gray has worked flotillas of barges up and down the Ohio River, he has witnessed the decline at the heart of industrial America in what is known as the country's Rust Belt. Gray, 46, spends up to eight months a year doing 28-day stints on the barges carrying coal, corn and gravel between Pittsburgh, Pennsylvania and Cairo, Illinois.
Eike Batista, the former mining and oil magnate who was once Brazil's richest man, was convicted and sentenced to 30 years in prison for bribing Rio de Janeiro state's disgraced ex-governor, according to a court document published on Tuesday.Batista's conviction and sentencing by federal judge Marcelo Bretas are the latest in a wave of graft investigations that have sent scores of powerful
PT Pelabuhan Indonesia III (Persero) has taken delivery of the first eight, of a total 15, RAzer ASD tugs designed by Robert Allan Ltd. The two RAzer 2960, two RAzer 2935 and four RAzer 2940 tugs are part of a major terminal expansion and fleet renewal program undertaken by Pelindo III in its operational territory.
Li Ka-shing to retire after annual general meeting on May 10; will stay on as senior adviser to the group. Hong Kong's richest man, Li Ka-shing, announced his retirement as chairman of CK Hutchison Holdings Ltd on Friday, bringing to a close a rags-to-riches story that made him a hero in the freewheeling capitalist hub.
Apostleship of Sea (AoS) port chaplain Reverend Roger Stone has been awarded the British Empire Medal in the Queen’s New Year’s Honour’s List 2018 for services to the pastoral care of seafarers. Roger has served as port chaplain for the seafarers’ charity since June 2010 and has provided pastoral
SUNY Maritime College’s training ship has returned to campus Tuesday after nearly two months aiding hurricane relief workers in Florida and Puerto Rico. The ship Empire State VI was used to provide power, housing, food and water to emergency relief workers, first in Florida following Hurricane Irma, then in Puerto Rico after Hurricane Maria.
More than 400 SUNY Maritime College students and others this summer will spend three days assisting ongoing hurricane recovery efforts in San Juan, Puerto Rico, during the college’s annual summer sea term onboard Training Ship Empire State VI. The ship will leave the college campus, bound for San Juan, on May 7.
Shipping and seafood billionaire John Fredriksen consolidated his position as the top shareholder in debt collector Axactor by buying more stock in the firm on Thursday, lifting the firm's share price. Through his family firm Geveran Trading, Fredriksen acquired 22.9 million shares in Axactor at a price of 2.65 crowns per share. Following the deal, Geveran will own 11.