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.
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.
2020 presented a monumental challenge for many industries and workers, particularly seafarers, as COVID-19 effectively left hundreds of thousands of seafarers stranded at sea, unable to disembark and partake in crew changes due to onerous restrictions by the majority of port states.
Some of Royal Caribbean Group’s cruises will resume sailing in the Caribbean in June with vaccinated adult guests, ending a year-long hiatus brought on by the COVID-19 pandemic.Adventure of the Seas and Celebrity Millennium ships will also have vaccinated crews and accept children under the age of 18 with a negative COVID-19 test, Royal Caribbean International and Celebrity Cruises said on Friday.
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
The first new U.S.-flagged Great Lakes bulk carrier to be built in more than 35 years was launched at Fincantieri Bay Shipbuilding in Sturgeon Bay, Wis. on December 17.Scheduled for completion in mid-2022, the Interlake Steamship Company's new River-Class, self-unloading bulk carrier Mark W. Barker is believed to be the first ship for U.S. Great Lakes service built on the Great Lakes since 1983.
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.
Container shipping giant Mediterranean Shipping Company (MSC) counts biofuels and hydrogen-based fuels among options worth studying to potentially help the shipping industry meet decarbonization targets, one of the company's executive told an industry conference in Switzerland on Monday.“There’s no one single solution to decarbonize shipping.