Libra Group exited the container shipping market this week after selling close to 100 vessels for more than $2 billion over several years to focus on innovation and sustainability as new drivers of growth, the company's executive chairman said.The container market hit rock bottom nearly a decade ago before rebounding to record highs during the COVID pandemic as demand for consumer goods
Shipowner Lomar, part of the Libra Group, announced it is working to develop autonomous, low- or zero-emission cargo vessels using large kite systems as the main method of propulsion.Lomar said its corporate venture lab, lomarlabs, has signed a collaboration agreement with maritime deep-tech start-up CargoKite for the project,.
The U.S. Army Corps of Engineers Pittsburgh District opened a 100-foot-wide navigation channel for commercial vessels through the center of the dam at Monongahela River Locks and Dam 3 near Elizabeth, Pa. The first commercial navigation vessel passed through the channel on Thursday, September 5.“Opening the navigation channel ahead of schedule was a significant achievement,” said Col.
The U.S. Army Corps of Engineers Pittsburgh District said it is expediting the opening of a 100-foot-wide navigation channel through the dam at Monongahela River Locks and Dam 3 near Elizabeth, Pennsylvania, by August 28.On July 15, the Monongahela River Locks and Dam 3 staff near Elizabeth, Pa., discovered an issue with the water level in the primary lock chamber.
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can ensure the charterers’ uninterrupted use of a ship if the owner defaults under the financing facility. The QELs will be provided by the lender to the charterer to ensure that the charterer