Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants.The Suezmax crude tanker Sabiti was ablaze and suffered heavy damage after being hit by two missiles, Iranian media reported.
Huntington Ingalls Industries' Newport News Shipbuilding division lifted the upper bow section onto one of the new aircraft carrier being built for the U.S. Navy, signalling the completion of the ship's flight deck.The addition of the upper bow section is one of the last steel structural units, known as a superlift, to be placed on the newbuiild, John F. Kennedy (CVN 79).
Newport News Shipbuilding Division Delivers First 3-D Metal Part For Installation On Nuclear-Powered Aircraft CarrierHuntington Ingalls Industries’ (NYSE:HII) Newport News Shipbuilding division achieved a milestone in the integration of additive manufacturing into the design and fabrication of components for nuclear-powered warships.
U.S. Transportation Secretary Announces New Members of U.S. Merchant Marine Academy Advisory Board.U.S. Transportation Secretary Elaine L. Chao today announced the appointment of seven new members to the United States Merchant Marine Academy (USMMA) Advisory Board. The USMMA Advisory Board serves as an independent body whose primary purpose is to examine the course of instruction and management
Liberty Global Logistics LLC (LGL) announced today that Robert G. (Bob) Wellner, its current President, will retire effective December 31, 2019. Mr. Wellner is a widely respected industry veteran with more than 46 years of experience in the U.S.-flag shipping and logistics industry and was a key player in the formation and growth of LGL.Mr. Wellner joined forces with Philip J.
Mammoet, the privately held Dutch company specialized in engineered heavy lifting and transport of over-sized and heavy objects, said it has signed an agreement to acquire fellow international heavy lifting and transport specialist ALE.No further details will be given until after closing of the transaction, Mammoet said.
Oil prices settled 2.2% higher on Thursday after attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude trade flows through one of the world's key shipping routes.The attacks near Iran and the Strait of Hormuz reignited worries about an impact to flows from the Middle East if insurance companies begin to reduce coverage for voyages through the region and additional
Last night’s arrival of United States Coast Guard Cutters Alder and Mackinaw signaled that the 2019 commercial shipping season is soon to commence for the Port of Duluth-Superior and the entire region.The Alder and Mackinaw made their way across Lake Superior from Sault Ste. Marie, Michigan
Ken Bloch Sørensen has stepped down as president and CEO of Canadian shipowner Algoma Central Corporation after leading the company for four years. Gregg A. Ruhl, the current Chief Operating Officer, has been named President and Chief Executive Officer and will assume that role immediately.Soerensen is said to want to spend more time with his family in Europe.
Greece-based Navios Maritime Acquisition Corporation announced that it completed the acquisition of Navios Maritime Midstream Partners. "Following the close of the market on December 13, Navios Midstream common units no longer are publicly traded on the New York Stock Exchange," said a press release from the owner and operator of tanker vessels focusing on the transportation of petroleum
Hong Kong–German shipbuilding company MV Werften put into operation the laser-hybrid welding line in its new hall 11 for producing panels measuring up to 25 x 16 meters for the Global Class cruise ships.Mecklenburg-Western Pomerania’s Economics Minister Harry Glawe, representatives of Genting Hong Kong, MV Werften
Manila-headquartered International Container Terminal Services, Inc. (ICTSI) has appointed Andrew Dawes as Senior Vice President and Regional Head of Asia Pacific, replacing Christian R. Gonzalez, who has been named Global Corporate Head.Dawes will be directly responsible for the management and development of ICTSI’s Asia Pacific portfolio outside of the Philippines.