Shares in South Korean shipbuilders HD Hyundai Heavy Industries and Hanwha Ocean rose more than 15% and 16%, respectively, today, after two U.S. senators debuted a bill to allow the U.S. Navy to build naval vessels in a shipyard located in a U.S. allied country.Senators Mike Lee (R-UT) and John Curtis (R-UT) have introduced two new bills aimed at enhancing the readiness and capabilities of the
President Donald Trump said that Elon Musk will lead an audit of the Pentagon, aiming to uncover what he claims could be "hundreds of billions of dollars" in fraud and abuse.During a Super Bowl interview with Fox News' Bret Baier, Trump revealed his plans to instruct Musk to broaden his oversight beyond the Department of Education to include the Department of Defense.
Brazilian President Luiz Inacio Lula da Silva has signed into law a bill authorizing the development of offshore wind farms, a statement said late on Friday, a bid to strengthen the country's energy security and spark a wave of investment.The new law foresees incentives for the development of offshore energy projects in Brazilian territorial waters, the statement said.
Abu Dhabi's Al Seer Marine, a subsidiary of International Holding Company (IHC), has taken delivery of two new Medium Range (MR) tankers, M.T. Saiph and her sister ship from K Shipbuilding Korea.Each vessel is equipped with an Exhaust Gas Cleaning System (EGCS) and engineered to accommodate alternative fuels such as Liquefied Natural Gas (LNG), ammonia, and methanol.
The bipartisan, bicameral bill will fuel U.S. economy, strengthen national security by responding to China’s threat over the oceans. Currently, the number of U.S.-flagged vessels in international commerce is 80; China has 5,500.Today, Senator Mark Kelly (D-AZ), Senator Todd Young (R-IN), Representative John Garamendi (D-CA-8)
The union representing 45,000 East Coast and Gulf Coast dockworkers and a group representing employers will resume negotiations next month toward reaching a new six-year contract ahead of a Jan. 15 deadline, they said on Friday.The International Longshoremen's Association union agreed to end a three-day strike on Oct.
An Italian navy ship shot down a drone fired by Yemen's Houthi rebels and targeting a European cargo, the Italian defense ministry said in a statement on Monday.The drone was intercepted "in the late morning" near the Bab-el-Mandeb strait at the southern end of the Red Sea, the ministry said.It was flying toward the cargo ship and taken down while it was 5 kilometers (3.11 miles) away.
At least five people, including a child, died in an attempt to cross the English Channel from France, hours after Britain passed a bill to deport asylum seekers to Rwanda to try to deter the dangerous crossings.The deaths of one child, a woman and three men occurred on an overcrowded small boat carrying around 110 people attempting to cross one of the busiest shipping lanes in the world.
An accident with a shiploader at the sugar terminal in the Recife port in Northeastern Brazil suspended loading operations at the site, according to a note from shipping company Williams Brazil late on Thursday.The company said the shiploader collapsed and a part of the machine fell inside the cargo hold of a vessel that was docked at the port to load raw sugar.
At least one contractor was killed after a fire struck an offshore platform operated by Mexico's national oil company Pemex, the firm said in a statement on Sunday, adding that two others were in "grave" condition.A total of nine workers suffered injuries in the blaze on Saturday afternoon that struck the company's Akal-B platform, located in the southern Gulf of Mexico
2024 marks another year for development of a biennial WRDA bill—Water Resources Development Act, critical legislation for the Nation’s waterways, ports and harbors. WRDA encompasses a range of issues, from environmental regs to energy use to agriculture and, of course, a focus on projects critical for economic growth.
Newcastle United football club co-owner Amanda Staveley on Monday lost a London High Court battle with a Greek shipping tycoon over a historic debt of nearly 3.5 million pounds ($4.4 million).Staveley, who owns 10% of the Premier League side with her husband, denied she was liable to Victor Restis for a sum that had snowballed with interest to over 36 million pounds.