Belgium's Euronav on Monday said that its two major shareholders CMB and Frontline have reached a deal that would see CMB take control of the oil tanker company and buy its remaining shares.The deal ends uncertainty over Euronav's future, after peer Frontline - controlled by Norwegian-born shipping tycoon John Fredriksen - in January scrapped a $4.
Companies from across the U.K. maritime sector and numerous government departments are coming together to develop a vision for making the country a global center of excellence for cruise lines looking to repair and refit their vessels.Britain’s maritime engineering industry already feeds into the cruise industry but sees significant untapped economic opportunity within the £2.
The American Bureau of Shipping (ABS) has awarded Approval in Principle (AIP) for Bumi Armada’s pioneering design for a floating carbon storage and injection unit (FCSIU).Bumi Armada’s FCSIU concept is a floating terminal capable of storing and injecting liquified carbon dioxide (LCO2) into depleted oil and gas fields or aquifers.
Countries on Friday adopted a revised greenhouse gas (GHG) strategy for shipping that sets a net zero emissions target "by or around 2050", which was viewed by environmental groups as falling short of what was needed. After days of discussion in London at U.N. shipping agency the International Maritime Organization’s (IMO) headquarters, member countries agreed to reach net zero "by or around, i.e.
A Canadian-flagged ship on Wednesday brought ashore debris from the Titan submersible that imploded while on a voyage to the century-old wreck of the Titanic earlier this month, killing all five people on board.Video from the Canadian Broadcast Corporation showed what appeared to be the nose of the submersible and other shattered fragments wrapped in white tarp pulled up by a crane off the
The desperate search for a missing submersible near the wreck of the Titanic entered a critical juncture on Thursday when air was expected to run out for the five people aboard, but officials vowed to continue scouring the remote North Atlantic.A remotely operated vehicle deployed from a Canadian vessel to the ocean floor discovered a "debris field" near the Titanic, the U.S.
Rescuers were in a race against time to find a missing submersible on Tuesday, two days after it lost communication while taking wealthy tourists to see the wreckage of the Titanic in deep waters off Canada's coast.One pilot and four passengers were on board the submersible that disappeared on Sunday.
A submarine on a tourism expedition to explore the wreckage of the Titanic has gone missing off the coast of southeastern Canada, according to the private company that operates the vessel and the U.S. Coast Guard.OceanGate Expeditions said in a statement on Monday that it was "mobilizing all options" to rescue those on the underwater vessel, which typically has five people on board.
A Norwegian naval officer was found guilty on Monday and sentenced to a two-month suspended jail sentence for negligence leading up to the 2018 collision between a warship he commanded and an oil tanker in which the military vessel sank.Building a replacement for the lost Helge Ingstad frigate would have cost up to 13 billion crowns ($1.24 billion), the armed forces estimated in a 2019 report.
Iran has increased its attacks on commercial shipping in recent months and the Pentagon will begin to bolster defensive posture in the region on Friday, White House spokesperson John Kirby said.In the past two years, Iran has harassed, attacked or interfered with the navigational rights of 15 internationally flagged commercial vessels, Kirby said.
A Singapore-registered containership that lost power and steering in heavy seas off the west coast of New Zealand has been towed to safety.The 5,100 TEU capacity Shiling requested assistance from Maritime New Zealand at around 8:30 a.m. local time Friday, after losing main propulsion while en route from Auckland to Wellington.
A Norwegian naval officer stands trial on Monday accused of negligence that led to the 2018 collision between a warship he commanded and an oil tanker in which the military vessel sank. Building a replacement for the lost Helge Ingstad frigate would cost up to 13 billion crowns ($1.3 billion), the armed forces estimated in a 2019 report.