An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, people familiar with the matter said.Chevron last October offered to pay $53 billion for Hess, one of the two biggest deals in the largest wave of consolidation in the oil industry in decades.
Star Bulk Carriers Corp. on Tuesday announced that it has completed its merger with fellow dry bulk shipping company Eagle Bulk Shipping Inc.Eagle Bulk shareholders this week voted to approve the $2.1 billion deal, which was first announced in December 2023.Under the terms of the merger agreement, each Eagle shareholder received 2.
Dry bulk shipping companies Star Bulk Carriers and Eagle Bulk Shipping have reached a deal to merge in a $2.1 billion all-stock deal.The terms of the definitive agreement have received unanimous approval from the boards of directors of both New York-listed ocean carriers, and the companes expect the deal to close in the first half of 2024 following approvals from regulators and Eagle shareholder.
The U.S Coast Guard on Wednesday suspended operations at the offshore energy services hub Port Fourchon, Louisiana, as hurricane Francine bore down on the coast, according to a shipping advisory.The temporary closure of Port Fourchon, home to marine and equipment suppliers to offshore oil producers, follows the suspension of marine traffic at the deepwater Louisiana Offshore Oil Port (LOOP)
There are many forces pushing stakeholders across the global maritime industry to decarbonize.In the U.S. inland waterways, regulations aren’t one of the main drivers—at least not at the moment, according to Mike Complita, principal and vice president of strategic expansion at Elliott Bay Design Group, a naval architecture firm.
The first-ever American-built, owned, and crewed offshore wind service operations vessel (SOV) was christened during a ceremony on Saturday in the Port of New Orleans.Edison Chouest Offshore's (ECO) recently completed ECO Edison will play an integral part of the operation and maintenance of Ørsted and Eversource’s South Fork Wind, Revolution Wind and Sunrise Wind projects as the U.S.
Defense company Babcock International has delivered Type 23 frigate HMS St. Albans back to the Royal Navy for sea trials three months ahead of the planned schedule, following a refit operation.Once the current sea trials are completed, HMS St. Albans, with her 178-strong crew, will return to sea as the most advanced, equipped, and capable Type 23 frigate in the Royal Navy’s fleet
Stena RoRo announced it has taken delivery of the 10th vessel in its E-Flexer series from the CMI Jinling, Weihai Shipyard. The vessel, named Ala'suinu, will be on a long charter agreement with the Canadian state-owned Marine Atlantic and operate a ferry line in eastern Canada between Newfoundland and Nova Scotia.
Saab and GMV are collaborating in ASGARD, an EU-funded project that aims to improve maritime security when using GNSS and OSNMA. The project addresses the growing threat of GNSS spoofing and other cyberattacks on navigation systems used in the maritime industry.The ASGARD project, run by Saab and GMV
The American Bureau of Shipping has awarded an approval in principle (AIP) to Malaysian floating production firm Bumi Armada for a floating liquefied natural gas (FLNG) infrastructure design. The new concept incorporates a barge-based liquefaction unit and utilizes existing LNG carriers for storage. ABS completed design reviews based on class and statutory requirements.
New Zealand-based HamiltonJet has unveiled its new fleet monitoring solution, Overwatch, designed to provide shore-side staff with detailed multi-vessel information in real-time, delivering operational efficiencies and increasing levels of safety for crew and passengers.The platform has been four years in the making - two years development
Maritime Partners,a Louisiana-based provider of maritime financing solutions primarily focused on Jones Act vessels, announced the addition of Stephen J. Bordes and Greg Chase to its executive leadership team.Bordes joins Maritime Partners as its chief financial officer, and Chase as as the firm’s chief legal officer.