Insurance broker Marsh and Lloyd's of London underwriters have expanded a marine war insurance program backed by Ukraine from grain shipments to all non-military cargo, such as iron ore and steel, Marsh said on Friday.Marsh, Lloyd's and Ukrainian state banks launched an initial program in November to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea
Frank Manning has quickly risen through the ranks during his eight years in the shipyard business, today serving as president and COO at Diversified Marine, Inc. (DMI) in Portland, Ore. Crucial along the way has been a passion for the business itself and the people that make it all possible.“The first day I walked in a shipyard I knew that I was in the right industry,” Manning said.
The last of the three coast guard vessels, strengthening the control and surveillance in the northern area of Norway, has been named KV Hopen by Minister of Climate and Environment Andreas Bjelland Eriksen at Vard Langsten in Norway.With the naming ceremony of the third vessel in the Jan Mayen class, one of Norway's largest maritime acquisitions ever is about to be completed.
Analysts and commentators are quick to point out that fossil fuels will power maritime equipment, and indeed dominate the fueling marketplace, well into the future. However, they will do so alongside new fuels, and new technologies, that will be introduced to the maritime sector in the coming years.
Ecuador's navy is ready to protect the seas around the Galapagos Islands from illegal fishing by foreign ships whose annual visits threaten marine wildlife in the archipelago's waters, following training exercises with neighboring allies.Training operations around the Galapagos, which sit among a mega-diverse marine reserve
Colombia's majority state-owned energy company Ecopetrol has held talks with big players ahead of a potential bid in an offshore wind auction organized by the country's government, Chief Executive Ricardo Roa said on Wednesday.Roa was speaking during a call with analysts regarding the company's financial results for the first quarter of 2024, where net profit dropped 29% to 4.
Marine electric product company RAD Propulsion announces that it has secured £1,000,000 investment from Ocean Infinity, a marine technology business that deploys innovative robotic and autonomous vessel solutions.The investment is part of a raise round to facilitate RAD’s rapid operational scale up as its RAD 40 electric drive goes into mass production.
Venezuelan President Nicolas Maduro on Thursday said the deployment of a British warship to waters off the coast of Guyana breaches the "spirit" of an agreement reached between Venezuelan and Guyanese authorities.Guyana and Venezuela agreed earlier this month to avoid the use of force and avoid increasing tensions in the long border dispute over the oil-rich Essequibo territory.
Crowley has entered into its fourth long-term charter for its newest Tier IV ship assist tug, Artemis, with Brusco Tug & Barge.The 77-foot tug will deliver 7,000 horsepower with a bollard pull of 96 tons using two Caterpillar Marine 3516 Tier IV-compliant engines, meeting U.S. Environmental Protection Agency emission standards.
Offshore wind vessel firm Purus Wind has appointed Oliver MacManus as general manager, with immediate effect.MacManus will focus on overseeing the running of the construction/service operation vessels (“C/SOV”) business. "The appointment is integral to positioning Purus Wind for future growth as the business continues to expand its fleet of next-generation battery hybrid C/SOVs and crew transfer
German defense contractor Hensoldt on Friday announced plans to reorganize into four divisions following in its $728 million acquisition of defense systems integrator ESG Elektroniksystem completed earlier this year.Hensoldt will divide its operations into four divisions focused on its different types of businesses: Radar, Optronics, Multi Domain Solutions, and Services & Training.