The offshore rig market recovery appears to have taken a pause, with demand tapering off and marketed utilization hitting the lowest levels recorded since recovery began in 2021. A variety of factors have contributed to this – including Saudi Aramco’s suspension of over 30 jackup contracts by up to one year, the entry of newbuild rigs into the market without work to go to
Benny Cenac Jr.’s Houma based Main Iron Works Company has completed the 10th boat newbuild for Ingram Marine Group. This partnership with Main Iron Works and Ingram began in 2021 and included the construction of 10 new towboats to be completed by the end of 2024. The first towboat, the Adrienne M.
The term gamechanger is often over used enough to be rendered meaningless, but the huge Simandou mine in the West African country of Guinea is going to be just that as its start up is set to rock the seaborne iron ore market.The first cargoes from the project may arrive by the end of this year and it's expected that it will ramp up to its full capacity of 120 million metric tons per annum fairly
Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year's Day, marking the end of decades of Moscow's dominance over Europe's energy markets.The gas had kept flowing despite nearly three years of war, but Russia's gas firm Gazprom said it had stopped at 0500 GMT after Ukraine refused to renew a transit agreement.
![America’s Ports: A New Awakening [?]](https://images.marinelink.com/images/maritime/w300h300c/-154963.jpg)
Washington comes to grips with the reality that the domestic intermodal equation includes four modes. One of them is by water. It’s about time.One of the great things about spending five years in retirement (I mean, aside from being blissfully idle while you toiled) is that, when you do come back to work, you enjoy a truly fresh perspective in all aspects of your job.
The owners of a private island in the U.S. rely on vessel transport as a lifeline to the mainland. Their boat, used for carrying supplies and even supplying medevac support in emergency situations, must be able to run at any time, in all conditions.So when it came time for their existing vessel to be replaced
China's newest nuclear-powered attack submarine sank earlier this year, a senior U.S. defense official said on Thursday, a potential embarrassment for Beijing as it seeks to expand its military capabilities.China already has the largest navy in the world, with over 370 ships, and it has embarked on production of a new generation of nuclear-armed submarines.A senior U.S.
Taiwanese shipping firm Yang Ming Marine Transport Corp said one of its cargo ships caught fire on Friday at China's Ningbo-Zhoushan Port, one of the world's busiest.Earlier, Chinese state media said an explosion was reported at the port and shockwaves were felt a kilometer away.Yang Ming Marine Transport said a fire occurred on board the YM Mobility while it was operating in the port.
A shortage of U.S. mariners presents a major threat to the United States’ national and economic security, and the problem is growing day by day.According to a 2017 study prepared by the Maritime Workforce Working Group and released by the U.S. Maritime Administration (MARAD), the estimated pool of U.S. mariners actively sailing with unlimited tonnage credentials was comprised of 11,768 mariners.
It was only 30 years ago when maritime lost approximately 200 large vessels per year. Despite the mounting risks to shipping globally, its safe to say that safety measures and technology put in place in the interim have paid off, as in 2023 the industry saw 26 large ships lost -- down from 41 a year earlier and the lowest total ever
Van Oord’s heavy lift installation vessel Svanen has installed the first monopile at the Baltic Power offshore wind farm, north of the Polish coast.Developers ORLEN and Northland Power contracted Van Oord for the transport and installation of 78 foundations, consisting of a monopile fitted with a transition piece.With a production capacity of up to 1.
A huge fire that erupted early on Tuesday at an oil tank in Venezuela's La Salina terminal operated by state company PDVSA was extinguished on Wednesday, authorities said.The fire broke out during a storm at the facility used by the state oil company near Venezuela's western city of Cabimas to store and ship crude between domestic ports.