The U.S. trade deficit jumped to a record high in March amid roaring domestic demand, which is drawing in imports, and the gap could widen further as the nation's economic activity rebounds faster than its global rivals.Manufacturers lack the capacity to satisfy the surge in demand because of resource constraints and bottlenecks in the supply chain. Inventories are very lean.
Iran released on Friday a South Korean ship and its captain detained since January after South Korea promised to try to secure the release of Iranian funds frozen in South Korean banks under U.S. sanctions, a South Korean official said.The Iranian foreign ministry said the chemical tanker, Hankuk Chemi, was released after an investigation into environmental pollution
This week, U.S. Federal Maritime Commissioners Daniel B. Maffei and Carl W. Bentzel sent letters to the Governors of major port states urging them to prioritize the vaccination of the maritime workforce to protect the nation’s supply chain.Letters were sent to the Governors of Alabama, California, Florida, Georgia, Louisiana, Maryland, New York, New Jersey, South Carolina
Iran said on Sunday that South Korea should avoid politicizing the seizure of its vessel by Iranian Revolutionary Guards in the Gulf, Iranian state media reported, while pressing Seoul to release $7 billion in funds frozen amid U.S. sanctions.South Korea’s vice foreign minister, Choi Jong-kun, arrived in Tehran on Sunday to discuss the release of the South Korean-flagged MT Hankuk Chemi
Iran's Revolutionary Guards Corps seized a South Korean-flagged tanker in Gulf waters and detained its crew, Iranian media said on Monday, amid tensions between Tehran and Seoul over Iranian funds frozen in South Korean banks due to U.S. sanctions.Seoul confirmed the seizure of a South Korean chemical tanker by Iranian authorities in the waters off Oman, and demanded its immediate release.
This has certainly been an active year for offshore wind, both in the U.S. and globally. Looking at the U.S. in particular, the East Coast is certainly giving cause for real optimism with a clear pipeline of state procurement targets indicating 12 gigawatts installed by 2030 and 29.1 gigawatts total installed by 2035.
South Korea's Daewoo Shipbuilding & Marine Engineering has won an order to build three LNG carriers.DSME said the order was worth more than 1 trillion Korean Won, or around $872 million.The South Korean shipbuilder did not say who the client was, apart from saying it was a European shipowner.
U.S. energy companies were returning workers and restarting operations at storm-swept production facilities along the U.S. Gulf Coast on Sunday, two days after Hurricane Delta barreled through the area.Chevron Corp, Royal Dutch Shell Plc and BHP Group were returning workers to production platforms in the U.S.-regulated northern Gulf of Mexico, the companies said.
Offshore vessel operator Edison Chouest Offshore (ECO) will build and operate the first-ever U.S. flagged Jones Act compliant Service Operations Vessel (SOV), used for offshore wind farm operation and maintenance works.Edison Chouest Offshore, Ørsted, and Eversource announced Thursday the execution of a long-term charter agreement for the provision of the SOV.
Manson Construction Co. signed a contract with Keppel AmFELS to build a new hopper dredge at the shipbuilder's facility in Brownsville, Texas, the Seattle-based marine contractor announced Monday. The new dredge is scheduled to be fully operational by spring 2023 and continues a dredge building boom currently underway in the U.S.
The United States on Wednesday blacklisted 24 Chinese companies and targeted individuals it said were part of construction and military actions in the South China Sea, its first such sanctions move against Beijing over the disputed strategic waterway.The U.S. Commerce Department said the two dozen companies played a “role in helping the Chinese military construct and militarize the
Metal Shark announced Monday its Bayou La Batre, Ala. shipyard has delivered its first newbuild, a 120’ x 35’ river towboat for Florida Marine Transporters, Inc. (FMT) of Mandeville, La.The four-decked, welded-steel, USCG Subchapter “M”-compliant towboat Stephanie Pasentine, which bears the distinction of being Louisiana-based Metal Shark’s first-ever steel newbuild and also its first inland