An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, people familiar with the matter said.Chevron last October offered to pay $53 billion for Hess, one of the two biggest deals in the largest wave of consolidation in the oil industry in decades.
If nothing else, building vessels in the U.S. is a complicated business.In a session on the domestic shipbuilding marketplace, at Marine Money’s late-November 2023 conference held in New Orleans, Ben Bordelon, president and CEO of Bollinger Shipyards (with more than a dozen facilities, in Mississippi and Louisiana)
Yemen's Houthis fired a missile that likely targeted the Torm Thor in the Gulf of Aden on Feb. 24 but missed the U.S.-flagged oil tanker, the U.S. Central Command (CENTCOM) said on Monday, as the Iran-aligned militia steps up attacks on ships.Shipping risks have escalated due to repeated Houthi drone and missile strikes in the Red Sea and Bab al-Mandab Strait since November in support of
On July 11, 2024, Dutch students from the TU Delft Hydro Motion Team arrived in Ramsgate with their self-built hydrogen boat, becoming the first to cross from the Netherlands to England with a fully hydrogen-powered vessel, making the nearly 169-km journey across the North Sea on a single tank.Read more about the future of Hydrogen in the maritime space in our inteview with Roy Campe, CTO, CMB.
The latest high-tech rigid hull inflatable boat (RHIB) from Annapolis, Md. based boatbuilder Ocean Craft Marine (OCM), the 11.5-meter Offshore Interceptor, is the result of an innovation push involving some of the industry’s top players.“The design itself is an evolution of existing designs we've done, but taking it to the next level,” said Todd Salus, OCM vice president of operations.
On April 19th, 2024, Muddy Water Dredging, LP, held the christening ceremony of its Marlin Class dredge at the Port of New Orleans. The event was attended by many esteemed business leaders, media personnel, and distinguished dignitaries. "We are happy to unveil the Vaneta Marie dredge.
Norwegian offshore-wind focused vessel owner Norwind Offshore has placed an order for a stand-alone fully electric crane from Seaonics for its newbuild vessel Norwind Helm.The order is for an ECMC 7t-3D crane, and follows the delivery of Seaonics' first electric gangway system to Norwind Hurricane commissioning service operation vessel (CSOV) in March 2024.
Philippines President Ferdinand Marcos Jr has approved the third phase of the military's modernization, which includes the purchase of the country's first submarine, in order to defend its maritime sovereignty in the disputed South China Sea.Navy spokesperson for the West Philippine Sea, Roy Trinidad
Norwegian ship designer and builder Vard has confirmed the Danish subsea cable company NKT is behind the order for the construction of the new cable laying vessel.The contract, valued between $218-270 million (€200-250 million), was signed mid December 2023 by Vard and NKT HV Cables, a Swedish-based turn-key power cable manufacturer and installation company, which is part of NKT.
Ammonia is one of several renewable fuels seen as an option to help the maritime industry decarbonize.One of the companies working to unlock the fuel’s potential is Brooklyn, N.Y. based Amogy, developer of an onboard system that feeds liquid ammonia through a cracking process to create hydrogen on demand for power generation via fuel cell—without carbon emissions.
Lloyd’s Register (LR) has awarded type approval to BeHydro, a joint venture between CMB.TECH and Anglo Belgian Corporation (ABC), for its hydrogen-powered dual-fuel engine. It is the first type approval for a dual-fuel hydrogen engine.The new engine, which has a capacity of up to 2.
Sulphur, La. based marine transportation company Southern Devall announced it has appointed Andrey Verloka as its new director of cargo stewardship and fleet allocation.“In his new role, Andrey will be instrumental in ensuring that our cargo operations are executed flawlessly according to customer instructions whileminimizing risks to both cargo and equipment,” said Alfred Devall