Prices in the most volatile segment of ocean shipping are collapsing, but top retailers like Walmart and Home Depot should not expect relief until the spring contract renegotiation season, industry experts said.Spot rates, which cover anywhere from 10% to 40% of ocean container shipments and are considered a key indicator of the industry's health
A critical channel deepening project that will help move cargo more efficiently to and from the U.S. advanced Monday after the Long Beach Harbor Commission concluded an extensive environmental review process and greenlit the endeavor.The work will also allow the port to welcome newer cleaner, and more efficient cargo vessels.
The Interlake Steamship Company held a christening ceremony in Cleveland on Thursday for its new vessel, Mark W. Barker, the first U.S.-flagged freighter built on the Great lakes in nearly four decades.“This is truly a historic celebration for our company and for the United States maritime industry as we proudly christen the newest vessel to join the U.S.
ZIM Integrated Shipping Services Ltd. on Wednesday announced it has signed a liquefied natural gas (LNG) bunkering deal valued at more than $1 billion with Shell NA LNG, LLC as the Israeli container shipping seeks to reduce emissions from its operations.Under the 10-year sales and purchase agreement
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects, including some in the remote iceberg waters far off Canada's Atlantic coast.Surging oil prices are encouraging the investments, along with Europe's mounting energy demand as the Ukraine-Russia war drags on.
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
Eastern Shipbuilding Group hosted the keel laying ceremony for the U.S. Coast Guard’s future Offshore Patrol Cutter (OPC), USCGC Ingham (WMSM-917), the third vessel in the new Heritage Class built at the Nelson Street facility. The presiding official for the U.S. Coast Guard was Rear Admiral Chad L. Jacoby, Director of Acquisition Programs & Program Executive Officer (CG-93).
My first visit in 2007 to the American Society of Naval Engineers’ (ASNE) Multi-Agency Craft Conference (MACC) was an eye-opener. Having built a naval architecture career with frigates, destroyers and other large naval and commercial ships, I was eager to learn of the smaller craft used by the U.S. Navy and other government and military bodies. As my flight into Norfolk, Va.
Adm. Linda L. Fagan has been confirmed as the 27th Commandant of the U.S. Coast Guard, clearing way for her to be the first woman top officer in one of the military services. The Senate on Wednesday approved Fagan’s promotion, along with those of five other senior Coast Guard officers, by unanimous consent.Nominated for the role by President Joe Biden in April, Fagan will succeed Adm.
President Joe Biden nominated Adm. Linda L. Fagan to serve as the 27th Commandant of the U.S. Coast Guard. Upon confirmation, Adm. Fagan will be the first woman to serve as Commandant of the Coast Guard.Adm. Fagan currently serves as the 32nd Vice Commandant, having assumed the duties on June 18, 2021.
U.K. port bosses are scratching their heads as to how to meet demand as offshore wind, including new floating projects, ramps up around the country’s coastline.The U.K. government is pushing this source of energy and has a 40-gigawatt (GW) by 2030 target—ramping up from around 30 GW today—for offshore wind.
U.S. President Joe Biden announced a ban on Russian oil and other energy imports on Tuesday in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices."We're banning all imports of Russian oil and gas energy," Biden told reporters at the White House. "That means Russian oil will no longer be acceptable in U.