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.
Ocean Infinity has received a Statement of Compliance (SOC) from DNV for its remotely supported vessel operations, marking industry's first such achievement.The approval from DNV, the world's leading classification society, establishes Ocean Infinity as the industry's first organization to reach the required standard of technology and operations for large vessels
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.
JX Nippon Oil & Gas Exploration Corporation, NYK and NYK affiliate Knutsen NYK Carbon Carriers (KNCC) have demonstrated a new CO2 liquefaction method that the partners say is a breakthrough for the carbon capture and storage (CCS) industry.The three companies have devised the CO2 liquefaction process based on the isenthalpic expansion cooling and liquefaction process which takes advantage of the
Taiwan President Lai Ching-te told sailors aboard a combat-ready warship at a major base in the Taiwan Strait on Friday that he had their backs, thanking them for safeguarding Taiwanese security at a time of heightened tensions with Beijing.China, which claims democratically governed Taiwan as its own territory over the strong objections of the government in Taipei
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.
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.