A Russian cargo ship called Ursa Major sank in the Mediterranean Sea after an explosion ripped through its engine room and two of its crew are still missing, the Russian Foreign Ministry said on Tuesday.The vessel, built in 2009, was controlled by Oboronlogistika, a company that is part of the Russian Defence Ministry's military construction operations
Germany's lower house of parliament and the state parliament of Lower Saxony have approved the rescue of Meyer Werft, one of the world's biggest cruise ship builders, members of the budget committee told Reuters on Wednesday.Although the shipbuilder's order books are full, it has an almost 2.8 billion euro ($3.
Massachusetts and Rhode Island are moving ahead with three offshore wind projects totaling 2.9 gigawatts (GW), or enough electricity to power about 1.6 million homes, government officials announced on Friday.The project selections, following a joint solicitation in March for wind farms to be built off of New England's shores
German federal and state governments will invest 400 million euros ($445.84 million) in Meyer Werft, one of the world's top makers of cruise ships, for an 80% stake to secure the future of the company, a local government minister said on Wednesday.The support plan also includes guarantees for 2.
Italian state-controlled shipbuilding giant Fincantieri announced public finance expert Biagio Mazzotta has been appointed as chairman of its board of directors. The move follows the untimely death of General Claudio Graziano, who had been appointed in May 2022.Mazzotta's appointment comes at the recommendation of shareholder CDP Equity S.p.A.
Shipping giant CMA CGM said on Thursday that brisk international trade and Red Sea disruption supported its main maritime division in the second quarter and should limit any market slowdown later this year as new ship capacity arrives.The world's third-largest container shipping line reported a 6.8% year-on-year increase in volumes in the second quarter.
The maritime industry is seeing significant fleet growth in the containership sector as the volume of newbuild deliveries eclipses previous highs.“Since the beginning of the year, the capacity of the containership fleet has increased by 1.6 million TEU. Compared to one year ago, the capacity has risen 11% to 29.
Shipping giant Maersk said one of its vessels, the Maersk Sentosa, reported being targeted by a flying object in the north of the Gulf of Aden early on Tuesday.Maersk told Reuters that no injuries to the crew or damage to the ship or cargo were reported.A spokesperson for the Copenhagen-based company said the ship was one of its U.S.-flagged vessels sailing for the subsidiary Maersk Line, Limited.
The European Union is proposing to sanction Russia's oil-shipping giant Sovcomflot in a move to limit the Kremlin's ability to finance its war against Ukraine, Bloomberg News reported on Tuesday, citing a document seen by it.The move would follow similar punitive measure imposed on the leading Russian tanker group early in 2024 by the U.S.
Van Oord has launched its new offshore installation vessel Boreas at the Yantai CIMC Raffles Offshore shipyard in China.The Boreas’ dual fuel engine set is able to run on methanol and is purpose-built for the transport and installation of the next generation foundations and turbines at offshore wind farms.The vessel is expected to be commercially available in 2025, according to Van Oord.
Malaysia-based offshore services firm Sapura Energy has through its joint venture companies secured $1.8 billion worth of contracts with Brazil’s state-owned energy giant Petrobras for the provision of subsea services and six pipe-laying support vessels (PLSVs).Sapura Energy has through the joint ventures owned by Seabras Sapura Holding and Seabras Sapura Participações
Greenpeace activists painted slogans on an Estonian-owned tanker in the middle of the Baltic Sea on Friday, and said the ship supplied bunker fuel to vessels transporting Russian oil that posed a danger to the environment and would fuel conflict."Oil fuels war," the campaigners, who arrived in small boats, scrawled in large white letters on the side of the Zircone tanker