The Panama Canal moved more than a half a billion tonnes of goods over the last year, the canal's top official said on Thursday, marking a record high for the key global waterway as international trade picked up.Ricaurte Vasquez, the Panama Canal Authority's administrator, told reporters during a webcast news conference that 516.
Greece mounted a rescue operation on Friday for a cargo ship carrying about 400 migrants after it sent out a distress signal off the island of Crete, the coast guard said.The Greek coast guard quoted passengers as saying the Turkish-flagged vessel had sailed from Turkey, calling it “one of the largest search and rescue operations carried out in the eastern Mediterranean.
A ceremony held at Fincantieri Bay Shipbuilding on Thursday marked the launch of the first U.S.-flagged Great Lakes bulk carrier to be built in nearly four decades. The 639-foot Mark W. Barker, currently under construction for Ohio-based The Interlake Steamship Company, was floated in the large drydock at the Sturgeon Bay, Wis. shipyard.
Investment firm Stonepeak said on Monday it would buy Teekay LNG Partners in a deal worth $6.2 billion, as it looks to take advantage of rising global demand for LNG amid a push towards cleaner sources of energy.Prices of the benchmark U.S. natural gas contract have been on the rise, hitting seven-year highs recently. On Monday, the front-month gas futures contract was up 6.3% at $5.
The U.S. Coast Guard and National Transportation Safety Board on Friday wrapped up the formal public hearing proceedings into the sinking of the liftboat Seacor Power and the death of 13 of its 19 crewmembers in the Gulf of Mexico.The Seacor Power capsized in heavy winds and seas on April 13, 2021, about seven miles south of Port Fourchon, La.
The first LNG bunker vessel to be based in France has successfully completed sea and gas trials, marking another step towards the delivery and operational start-up.The new vessel, named Marseille, is TotalEnergies Marine Fuels’ second collaboration with shipowner Mitsui O.S.K. Lines, Ltd. (MOL) and shipbuilder, Hudong-Zhonghua Shipbuilding.
An Egyptian court has lifted the detention order on the Ever Given container ship, allowing its expected release from the Suez Canal on Wednesday, a lawyer and judicial sources said.The Ever Given's owners and insurers announced on Sunday that they had reached a settlement with the Suez Canal Authority (SCA) over compensation for the ship becoming grounded in March and blocking traffic in the
Deutsche Bank is on course to make up to $1 billion on a long-shot bet on Israeli shipping firm Zim after it surged in value on the back of record-high global freight rates, Bloomberg reported on Tuesday.Citing unnamed sources familiar with the matter, the report said that Mark Spehn, a distressed debt trader at the German bank
The Baltic Exchange's main sea freight index climbed on Friday to post its best weekly gain since mid-February thanks to higher demand for capesize vessels.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, rose 38 points, or 1.4%, to 2,788, its highest since September 2010.The main index firmed 16.
Philly Shipyard on Wednesday marked the start of fabrication for the second of five planned National Security Multi-Mission Vessels (NSMV). The purpose-built, state-of-the-art training ships will be used by America’s state maritime academies.The first steel plates cut by the yard’s state-of-the-art plasma cutting machine will be later joined into a double bottom, mid-ship section.
Mark Buzby, the Trump-appointed head of the U.S. Maritime Administration (MARAD), has resigned following the violent intrusion of the U.S. Capitol by the President's supporters, the agency confirmed to MarineLink.“I no longer believe that I am able to serve as a member of the administration while remaining true to the values which have been the core of my service to the people of our nation
Babcock invests in technically advanced shipbuilding facilityBabcock awarded a £31.5 million contract to Robertson Construction for the development of a new Assembly Hall at its Rosyth site. The construction project will support circa 100 positions locally in Scotland and a further 100 positions nationally throughout the supply chain.