Royal Caribbean Group raised its annual profit forecast for a second time and beat expectations for first-quarter profit and revenue on Thursday, with half of its growth coming from higher ticket pricing.Soaring demand for vacations at sea has given cruise operators ample room to raise ticket prices as the industry looks to close the pricing gap with land-based vacations and give their profits a
As a speed boat carrying more than a dozen Somali pirates bore down on their position in the western Indian Ocean, the crew of a Bangladeshi-owned bulk carrier sent out a distress signal and called an emergency hotline.No one reached them in time. The pirates clambered aboard the Abdullah, firing warning shots and taking the captain and second officer hostage
Asian Oil & Gas (AOG) is hosting a webinar on the groundbreaking patents that are pushing multiphase detection, measurement, and control technology forward.Throughout the oil and gas and petrochemical industries, liquid-to-liquid separation is a fundamental process. Though instrumentation has come a long way, a new high performance
- An expanding Hurricane Milton churned toward Florida's battered Gulf Coast on Tuesday, where more than 1 million people were ordered to evacuate a day before the monster storm is forecast to slam the Tampa Bay area.Milton, which exploded on Monday into one of the most intense Atlantic hurricanes on record, was forecast to make landfall late on Wednesday
California State University Maritime Academy (Cal Maritime) deck cadets Jake Jacobsen and Jan Johnson have been awarded Crowley’s Thomas B. Crowley Sr. Memorial Scholarships.The scholarship recognizes the cadets' success and their dedication to a career in the maritime industry.Jacobsen, entering his final year at Cal Maritime
Power solutions companies Yanmar and Amogy are teaming up to explore ammonia-to-hydrogen integration for decarbonized power generation aboard marine vessels.The companies on Thursday announced they have entered into a memorandum of understanding (MOU) to integrate Amogy’s advanced ammonia-cracking technology into Yanmar’s hydrogen internal combustion engine (H2ICE).
The Coastal Sustainability Alliance (CSA), an industry collaborative effort led by Kuok Maritime Group (KMG), has announced the start of construction of its first fully electric PXO-series tug (e-tug) and supply boat (e-supply boat) by PaxOcean Group.The zero-emissions vessels are among the first and largest local electric harbour craft designed for operation in Singapore’s coastal waters.
Earlier this year, 30-year Port Houston veteran Jeff Davis announced his retirement as Chief Port Operations Officer. The port's Executive Director Roger Guenther has subsequently announced the promotion of two long-term, well-regarded members of Port Houston’s executive leadership team to vital roles to ensure sustained operations and exceptional service.
Swedbank has signed the Poseidon Principles, a global framework for integrating climate considerations into lending decisions within ship financeThe Poseidon Principles provide a standardised methodology for data collection and reporting of emissions from banks’ shipping portfolios, with the overall ambition of supporting and facilitating the decarbonization of the shipping industry.
The U.S. offshore wind industry is eying a brighter 2024, with work expected to start on several projects following a year marked by stalled developments and billions of dollars in write-offs.The offshore wind industry is expected to play a major role in helping several states and U.S. President Joe Biden meet goals to decarbonize the power grid and combat climate change.
Edda Wind announced it has entered into a green term loan facility agreement for the pre- and postdelivery financing of four new commissioning service operation vessels (CSOV) under construction at Vard.The agreement is a €161 million green loan facility with Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, DNB Bank ASA and SpareBank 1 SR-Bank ASA
Offshore wind installation company Havfram has signed a Senior Secured Green ECA Term Loan Facility to fund its two wind turbine installation vessels ("WTIVs"), currently under construction at CIMC Raffles in China. The Facility was entered into with a syndicate led by DNB Bank ASA (Coordinator, Bookrunner, Green Loan Advisor and Agent) with SpareBank 1 SR-Bank ASA, Credit Agricole