The U.S. Coast Guard has called off its search for five migrants missing in waters off the Florida Keys since their makeshift vessel capsized on Friday, adding to the dozens lost at sea in attempted boat crossings from Cuba in recent months.The five who disappeared about 14 miles (23 km) south of Sugar Loaf Key brought to seven the toll of dead or presumed dead in Friday's accident
China's military exercises in the waters around Taiwan have prompted some ships to navigate around the Taiwan Strait and give the island a wide berth, disrupting key trading routes for cargo and commodities sailing around the world, analysts said.Angered by U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan
Harland & Wolff's Appledore site in the UK's southwest has won a £55 million (around $65 million) contract to regenerate a former Royal Navy mine-hunting vessel, HMS Quorn. "On behalf of the Lithuanian Government, the Defence Equipment Sales Authority (DESA) awarded the contract that will see HMS Quorn renovated and restored, bolstering NATO maritime capability in Europe
The war in the Ukraine is stifling trade and logistics of the country and the Black Sea region, increasing global vessel demand and the cost of shipping around the world, the UN Conference on Trade and Development (UNCTAD) said. Container shipping and global value chains have been disrupted and many countries have had to look further afield for suppliers of oil, gas and grain.
Contracts between China's top state-owned shipbuilding firm and Taiwan's leading shipping company are likely lowering the costs of upgrading China's navy, posing security concerns for the island claimed by Beijing, a U.S. think tank said on Thursday.China State Shipbuilding Corp (CSSC) is a key producer of vessels for China's rapidly expanding People's Liberation Army Navy (PLAN)
Oil benchmarks are hitting multiple price and spread milestones across several key markets as the fallout from severe sanctions on key exporter Russia sows confusion and panic among global crude oil traders, shipping firms and importers.The oil industry has been gripped by acute risk aversion in the finance and shipping sectors after several nations including the United States sanctioned
As offshore market activity recovers and continues to increase through the next decade, as we expect it to, oilfield service (OFS) capacity is expected to tighten.As offshore market activity recovers and continues to increase through the next decade, as NorthStone Advisors expect it to, oilfield service (OFS) capacity is expected to tighten.
The Biden administration on Wednesday said it will fund $14 billion in projects to improve the country's ports and waterways in an effort to increase climate resilience, improve drinking water sources and bolster the U.S. supply chain.The funds, for fiscal year 2022, target more than 500 projects in 52 states and territories, including Florida's Everglades and the Port of Long Beach in California
Equinor and BP on Friday announced the finalization of the Purchase and Sale Agreements (PSAs) with the New York State Energy Research and Development Authority (NYSERDA), for Empire Wind 2 and Beacon Wind 1 offshore wind projects.Empire Wind is located 15-30 miles southeast of Long Island and spans 80,000 acres, with water depths of between 65 and 131 feet.
A French ro-ro ship will be the first commercial vessel to trial a novel wind-assisted propulsion system designed to curb emissions from shippingAirseas said it has installed its Seawing system on the vessel Ville de Bordeaux owned and operated by Louis Dreyfus Armateurs. The ship, which is chartered by Airbus to transport major aircraft components between France and the U.S.
Ships in Chinese waters are disappearing from tracking systems following the introduction of a new data law in China, frustrating efforts to ease bottlenecks that are snarling the global economy, according to three shipping sources directly impacted.China's Personal Information Protection Law, which came into effect on Nov.
The Panama Canal moved more than a half a billion tonnes of goods over the last year, the canal's top official said on Thursday, marking a record high for the key global waterway as international trade picked up.Ricaurte Vasquez, the Panama Canal Authority's administrator, told reporters during a webcast news conference that 516.