The Trump administration on Friday ordered Denmark's Orsted to stop far-advanced construction on an offshore wind project near Rhode Island, in a move that threatens to exacerbate the company's financial troubles.With construction now frozen at 80% completion, Orsted has no immediate path to revenue generation, heightening pressure on the company as it seeks to shore up finances through a $9.
Maritime agencies Diaplous and Ambrey said on Sunday they had ended their search for the remaining crew of the Eternity C cargo ship that was attacked by Yemen's Houthi militants last week.The decision was made at the request of the vessel's owner, both agencies said.The Liberia-flagged, Greek-operated Eternity C sank on Wednesday morning following attacks over two consecutive days
U.S. President Donald Trump signed an executive order on Wednesday aimed at reviving U.S. shipbuilding and reducing China's grip on the global shipping industry.Republican and Democratic U.S. lawmakers for years have warned about China's growing dominance on the seas and diminishing U.S. naval readiness.The order directs the U.S.
Iran's Supreme National Security Council must make the final decision on whether to close the Strait of Hormuz following U.S. bombing raids, Iran's Press TV said on Sunday, after parliament was reported to have backed the measure.Iran has long used the threat of closing the Strait, through which around 20% of global oil and gas demand flows
French shipping group CMA CGM will reorganise its global fleet to avoid U.S. port fees on Chinese-built vessels that are due to take effect from October, the company's finance director said.The port charges are another operational headache for shipping firms wrestling with the fallout from U.S.
Western sanctions imposed on Russia for invading Ukraine and aimed at cutting its oil revenues have led to the rise of a vast "shadow fleet" of tankers helping Moscow keep its crude exports flowing.Here are some key points about these unregulated vessels.WHY IS THIS FLEET IN THE NEWS?Estonia on Tuesday tried to stop an oil tanker, which the UK sanctioned last week
The French Navy said on Tuesday that authorities were investigating a possible infraction by the oil tanker Boracay, a vessel suspected of belonging to the so-called "shadow fleet" involved in the Russian oil trade.The vessel is listed under British and European Union sanctions against Russia. It was detained by Estonian authorities earlier this year for sailing without a valid country flag.
The United States is seeking a regime change in his country with a naval deployment in the Caribbean, Venezuelan President Nicolas Maduro said on Monday in a rare press conference.Tensions between the United States and Venezuela have risen in recent weeks amid a large U.S. naval buildup in the Southern Caribbean and nearby waters, which U.S.
A civilian bulk carrier flying the flag of Belize has sustained minor damage after hitting an unknown explosive device near the Ukrainian seaport of Chornomorsk, two sources told Reuters on Sunday.Chornomorsk is a large and strategically important seaport in Ukraine's southern Odesa region
Cox Marine announced a series of changes to its commercial operations and sales leadership structure. Over the past three years, Cox Marine has made strides to deliver its first product to market—the 300 V8, the world’s first purpose-built, high-horsepower diesel outboard. Cox Marine is also progressing through the final validation stages for the market-disrupting 350 V8.
As part of ongoing efforts to foster greater equity, diversity and inclusion within the maritime space, NeurodiversAtSea, the Seafarers Hospital Society and The Seafarers’ Charity have launched an industry-first project to provide tailored support to neurodivergent seafarers.The project builds upon research conducted by NeurodiversAtSea which identified a lack of industry support for
Venezuela's state oil company PDVSA has canceled several authorizations it had granted U.S.-based producer Chevron to load and export Venezuelan crude in April, three sources with knowledge of the decision said on Thursday.The cancellations follow U.S. President Donald Trump's imposition of tariffs on Venezuela's oil buyers.