Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year's Day, marking the end of decades of Moscow's dominance over Europe's energy markets.The gas had kept flowing despite nearly three years of war, but Russia's gas firm Gazprom said it had stopped at 0500 GMT after Ukraine refused to renew a transit agreement.
The maritime industry’s elusive quest to achieve so-called ‘zero’ emissions continues. Where it ends is not a one-size-fits-all discussion.The year-end maritime industry discussions tend to move away from global influence and back drift to national and domestic debates. As this happens
A new report published by DNV has revealed that the majority (61%) of maritime professionals believe the industry should accept increased cyber risk from digitalization if it enables innovation and new technologies.The sector’s appetite to take on emerging risks arising from digital transformation is notably higher than other critical infrastructure industries including energy
Vessel owners are making new fuel choices, but increasingly, they have options to help reduce the risk of doing so.The latest engine developments aim to make it easier for owners to avoid the chicken-and-egg fuel price and availability risks of new fuels.As Roger Holm, President of Wärtsilä Marine and Executive Vice President at Wärtsilä Corporation recently pointed out
U.S. East Coast and Gulf Coast ports began reopening late on Thursday after dockworkers and port operators reached a wage deal to settle the industry's biggest work stoppage in nearly half a century, but clearing the cargo backlog will take time.The strike ended sooner than investors had expected, weakening shipping stocks across Asia on Friday as freight rates were no longer expected to surge.
A strike by 45,000 dockworkers halting shipments at U.S. East Coast and Gulf Coast ports entered its second day on Wednesday with no negotiations currently scheduled between the two sides, sources told Reuters.The lack of progress is raising concerns among those reliant on shipments that the disruption could be prolonged.
European automakers are the most likely to be affected by the dockworkers strike at U.S. East Coast and Gulf Coast ports because they rely heavily on those locations, but a longer walkout could prove "debilitating" to the entire sector, industry officials and analysts said.The dockworkers began their first large-scale stoppage in nearly 50 years early on Tuesday
In recent weeks the U.S. Supreme Court has fundamentally changed the ways that laws are interpreted and enforced by federal agencies. These decisions will have far-reaching impacts on heavily-regulated sectors, such as the U.S. maritime industry, potentially altering the balance of power between stakeholders and federal regulators.
Kongsberg Maritime has secured a contract with Golar LNG, valued over $25 million, to provide an integrated package of electrical, control, safety and propulsion systems for the Golar MK II floating liquified natural gas (FLNG) vessel.Konsberg’s equipment will form key part of the new onboard systems for a major rebuild project in which Golar’s LNG tanker Fuji LNG
Harland & Wolff will not be able to finalize its accounts for 2023 on a going concern basis and has suspended work to complete its unpublished accounts, as it seeks out options to stay afloat.Shares of the firm, which built the Titanic more than a century ago, were suspended on London's Alternative Investment Market (AIM) in July after it failed to submit audited accounts.
A Valaris jack-up drilling rig is using an AI-enabled intelligent detection and tracking solution to provide automated person overboard detection and alerts, marking the first time the cutting-edge technology has been deployed in the offshore oil and gas sector.Zelim's ZOE software was installed on board the Valaris Stavanger in February after the Edinburgh-based technology company worked with
A Commissioner with the U.S. Federal Maritime Commission is urging President Joe Biden to provide aid for local companies and workers suffering from an economic upheaval in the wake of the tragic Key Bridge collapse in Baltimore.A letter sent by Commissioner Carl W. Bentzel to President Biden on Monday asks the President to consider using the Coronavirus Aid, Relief