Defense group Leonardo and Immsi's naval unit Intermarine have signed a contract worth up to 2.6 billion euros ($2.82 billion) to supply Italy's navy with five coastal minehunter ships, the companies said on Friday.The contract, which also includes logistics support, is worth 1.6 billion euros for the vessels and 1 billion euros in various other options.
The European Union is proposing to sanction Russia's oil-shipping giant Sovcomflot in a move to limit the Kremlin's ability to finance its war against Ukraine, Bloomberg News reported on Tuesday, citing a document seen by it.The move would follow similar punitive measure imposed on the leading Russian tanker group early in 2024 by the U.S.
The Captain of the Port (COTP) has established the Fort Carroll Temporary Alternate Channel, which is on the northeast side of the main channel in the vicinity of the Francis Scott Key Bridge and will provide limited access for commercially essential vessels.The channel has a controlling depth of 20 feet, a 300-foot horizontal clearance, and a vertical clearance of 135 feet
Constant attacks on Ukrainian Black Sea ports by Russian drones and missiles are leading to a slowdown in Ukraine's maritime agricultural exports, brokers said on Wednesday.A key maritime hub in the southern Odesa region has been under almost daily attacks in recent weeks, but authorities have not reported any significant damage to port infrastructure.
The catastrophic bridge collapse that closed the Port of Baltimore to ship traffic is unlikely to trigger a major new U.S. supply chain crisis or spike goods prices, due to ample and growing spare capacity at competing East Coast ports, economists and logistics experts say.With six people still missing after a container ship collision destroyed the Francis Scott Key Bridge
A vessel carrying wheat that ran aground near the main channel of South America's Parana River has been freed but the waterway remains closed while checks are being made, the Argentine Naval Prefecture said on Tuesday.The vessel ran aground on Feb.17 and "was heading outbound in laden condition, navigating with a draft of 10.
The wreck of a World War II-era freighter has been discovered in over 600 feet of water around 35 miles north of Michigan’s Keweenaw Peninsula.Over the last 7 years, shipwreck researcher Dan Fountain has been studying remote sensing data in the search for shipwrecks in Lake Superior.
Swedish shipping company Stena Bulk has expanded its fleet with new long-term charter agreements for four newbuild eco Medium Range (MR) tankers.Two of the vessels, Stena Continent and Stena Conquest, will be delivered from Hyundai Mipo by the end of 2025.Two further eco MR tankers, Stena Contender and Stena Concept, will follow in 2026.
BYD's first chartered vehicle carrier has set sail from China's southern city of Shenzhen, carrying more than 5,000 electric vehicles to Europe, state media Xinhua reported on Tuesday.Chinese automakers including BYD, Chery Automobile and SAIC Motor, have been placing orders for vessels to counter rising shipping costs as they boost exports.
Arsenio Antonio Dominguez Velasco has been confirmed as the next Secretary-General of the IMO. The IMO Assembly unanimously approved the decision of the Council at its 129th session on November 30.Dominguez Velasco will take up the office of Secretary-General on January 1, 2024, for an initial term of four years. He becomes the Organization's 10th elected Secretary-General.
A U.S. Navy warship responded to a distress call from a commercial tanker in the Gulf of Aden that had been seized by armed individuals and is now safe, U.S. officials said on Sunday.The tanker, which had been carrying a cargo of phosphoric acid, was identified as the Central Park by the vessel's company. The officials did not identify the attackers.In a statement, the U.S.
A fleet of U.S. offshore wind projects central to President Joe Biden's climate change agenda may not move forward unless his administration eases requirements for subsidies in the year-old Inflation Reduction Act, according to project developers.Norway's Equinor, France's Engie, Portugal's EDP Renewables, and trade groups representing other developers pursuing U.S.