Belgian oil tanker group Euronav and smaller Oslo-listed rival Frontline plan to merge in an all-stock transaction valued at $4.2 billion that they said would cut costs and help in their low-carbon transition.Euronav shareholders will own 59% of the combined group and will also receive a cash dividend before the deal closes, while Frontline owners will hold the remaining 41%
The U.S. Senate on Thursday unanimously passed a bill to improve oversight of ocean shipping, a step supporters say will help ease export backlogs.The Ocean Shipping Reform Act, led by Senators John Thune and Amy Klobuchar, would strengthen the investigatory authority of the Federal Maritime Commission (FMC), the U.S.
The U.S. Senate on Thursday failed to pass a bill to slap sanctions on Russia's Nord Stream 2 natural gas pipeline sponsored by Republican Senator Ted Cruz, a day after Democrats unveiled their own legislation.The tally was 55 in favor and 44 against the bill that needed 60 votes to pass, a major hurdle in the 50-50 Senate.
Offshore wind developer Ørsted said Monday that first power on Hornsea 2 offshore wind farm in the UK was achieved after its offshore substation (OSS), the world’s largest offshore AC substation, and reactive compensation station (RCS), were installed in late October 2021.When fully operational, Hornsea 2’s 165 8 MW Siemens Gamesa wind turbines will be capable of generating 1.
The maritime industry is establishing its own approved international network of quarantine facilities to ensure safe crew changes as the Omicron variant spurs governments to close their borders to seafarers needing to leave and join ships.The Crew Enhanced Quarantine International Program (#CrewEQUIP) is a partnership between the International Maritime Employers’ Council (IMEC); the
The U.S. Senate confirmed on Tuesday evening President Biden’s nomination of NOAA Rear Admiral Nancy Hann to lead the NOAA Office of Marine and Aviation Operations (OMAO) and NOAA Commissioned Officer Corps (NOAA Corps), one of the nation’s eight uniformed services.“From flying into hurricanes to crewing remote explorations to the deepest depths of the ocean
Royal Caribbean Group's Chief Executive Officer, Richard Fain, is stepping down after more than three decades with the U.S. cruise operator that is still recovering from the slump caused by the coronavirus crisis.Finance chief Jason Liberty will takeover as CEO, Royal Caribbean said on Tuesday
U.S. shipyard Fincantieri Bay Shipbuilding announced a change of leadership. Todd Thayse, who began working at Fincantieri Bay Shipbuilding more than 37 years ago and he has spent the last 10 years as the vice president and general manager, has decided to retire.“The timing of one’s retirement is not an easy decision,” Thayse said.
Offshore wind services company Eneti announced on Thursday it has entered into an agreement to acquire rival Seajacks, creating one of the world's largest, most capable fleets of wind turbine installation vessels (WTIV).Eneti said its deal with sellers Marubeni Corporation, INCJ, Ltd. and Mitsui O.S.K., Lines Ltd.
South Korea's prime minister and defense minister apologized as hundreds of COVID-19-infected sailors were flown to Seoul on Tuesday after a navy destroyer patrolling the waters off Africa was found to be riddled with the coronavirus.Almost 250 of the 301 unvaccinated crew aboard the destroyer Munmu the Great were infected
Subsea energy services firm Subsea 7 said Thursday it had agreed to merge its renewables business with OHT, and Oslo-listed heavy lift and transportation vessel owner which is building a fleet of offshore wind installation vessels, too.The combined company will be renamed Seaway 7 ASA and will initially retain OHT’s listing on Oslo’s Euronext Growth market
Iran said on Wednesday the United States had agreed to remove all sanctions on Iran's oil and shipping but Washington said "nothing is agreed until everything is agreed" in talks to revive the 2015 Iran nuclear deal.The remarks by outgoing President Hassan Rouhani's chief of staff Mahmoud Vaezi echoed previous assertions by officials in Rouhani's pragmatist camp that Washington is ready to make