CK Hutchison's plan to sell most of its $22.8 billion ports business is unlikely to be finalised anytime soon, with political brinkmanship set to continue, and sources saying that a Sunday deadline for exclusive talks was likely to be extended.The Hong Kong conglomerate's plan to sell the business, which would include two ports along the strategically important Panama Canal
BP has won its arbitration case against Venture Global over the U.S. supplier's failure to deliver liquefied natural gas under a long-term contract that was due to start in late 2022, Venture Global said on Thursday.The International Chamber of Commerce International Court of Arbitration found that Venture Global breached its obligations to declare commercial operations had begun at the
Shipbuilding in the United States has seen a heightened profile with increased attention from Congress and the Trump 2.0 Administration. The ongoing dialogue regarding reinvigorating the U.S. deep sea fleet has brought mainstream attention to vessel construction, which has been nearly absent in recent years.
DNV has published a report forecasting that carbon capture and storage (CCS) capacity is expected to quadruple by 2030, with sharp increase project pipeline capacity indicating that CCS is at a turning point.The immediate rise in capacity is being driven by short-term scale up in North America and Europe, with natural gas processing still the main application for the technology
JERA, Japan's biggest power generator, has agreed to new supply deals for U.S. liquefied natural gas from four projects to diversify its global portfolio away from its reliance on Australia, it said on Thursday.JERA plans to buy up to 5.5 million metric tons per annum (mtpa) of U.S. LNG under 20-year contracts, with deliveries starting around 2030.
Hines Furlong Line has taken delivery of the M/V Donny Mudgett, the first vessel completed in its eleven-vessel newbuild program. Built at Intracoastal Iron Works in Bourg, Louisiana, the M/V Donny Mudgett is powered by three Mitsubishi Tier 3 S6R2-Y3MPTAW engines, each delivering 803 horsepower at 1,400 RPM.
On March 26, 2024, the M/V Dali, a massive Neopanamax (the terms for the size limits for ships travelling through the Panama Canal, 1201 ft. long and 168 ft. wide) container ship, collided with the Francis Scott Key Bridge,an incident that highlights the growing tension between U.S. maritime infrastructure and modern shipping practices.
The Trump administration said on Thursday it would pursue negotiations with China over its dominance of shipbuilding and ocean logistics as it formalized plans for a one-year pause on U.S. port fees on China-linked vessels as part of a broader deal to reduce trade tensions.The U.S.
Norwegian Cruise Line Holdings NCLH.N forecast fourth-quarter profit below expectations on cost pressures and subdued appetite for sea-based vacations as travelers curb spending, sending its shares down about 15% on Tuesday.Persistent inflation, tariff-driven uncertainty, and the fallout of the prolonged U.S.
South Korea and Singapore signed memorandums of understanding (MoU) on artificial intelligence and green shipping, South Korea's President Lee Jae Myung said at a joint press conference with Singapore's Prime Minister Lawrence Wong on Sunday after having a bilateral summit in Seoul.The two countries also agreed to cooperate on defense technology, Lee added.
The number of vessels that passed through the Panama Canal edged down slightly to an average of 32.5 ships per day in August compared to the 32.6 per day in the previous month, its authority said in a bulletin released on Wednesday.While traffic through the world's second-busiest inter-oceanic waterway has increased since last year, when it lifted passage restrictions related to a severe drought
Two people died on Thursday after a helicopter they were on board crashed into a barge on the Mississippi River, shutting the waterway to traffic near Alton, Illinois, the U.S. Coast Guard said.Preliminary information indicated the MD 369 helicopter hit power lines before the crash, according to the National Transportation Safety Board.