The Shenandoah floating production system (FPS) has been transported to the Gulf of America ahead of wet tow and offshore installation at the Shenandoah deepwater field at Walker Ridge project site, developed by Texas-based exploration and production company Beacon Offshore Energy.
A.P. Moller-Maersk expects strong demand for shipping goods around the globe to continue in the coming months, though does not expect to resume sailing through the Suez Canal until "well into 2025".Attacks on vessels in the Red Sea by Iran-aligned Houthi militants have disrupted a shipping route vital to east-west trade
Danish shipping group A.P. Moller-Maersk said on Monday it had raised its full-year forecasts on the back of strong third quarter results, robust demand and the continuing disruption to shipping in the Red Sea.Maersk said it had revised its outlook for global container market volume growth in 2024 to around 6% from a range of between 4% to 6% seen previously.
A new analysis from Windward reports a 20% decrease in the volume of direct oil voyages out of Russia in Q3 2024 compared to Q2.Q3 2024 marked the lowest monthly average of direct voyages from Russia to China since March 2023. When compared to Q2 2024 averages, there is a decrease of 12% in such voyages.
Four bodies were retrieved on Wednesday from the sunken wreck of a yacht belonging to the wife of British tech magnate Mike Lynch, the Italian fire brigade said, adding that they were continuing to search for two missing people.The bodies were brought ashore on rescue boats and taken to nearby hospitals for formal identification.
Scuba divers scouring the wreck of British tech magnate Mike Lynch's family yacht, which sank off Sicily two days ago, have found two bodies inside it, a source close to rescue operations said on Wednesday.One of the bodies belonged to a heavily built man, the source said.Rescue officials have been looking for six missing people, including Lynch, his 18-year-old daughter and Jonathan Bloomer
Maersk expects global container shipping growth to slow from a strong start to the year, when customers soaked up goods to prevent them from being held up by Red Sea attacks and other disruptions, it said on Wednesday.The Danish company, viewed as a barometer of world trade, said global container demand increased about 7% year-on-year in the first half of the year
Shipping group Maersk raised its full-year earnings and market demand forecasts on Thursday, partly due to disruptions to Red Sea trading routes, but also said prospects for the fourth quarter were uncertain.The Danish group, seen as a barometer of world trade, said it now expected global container market volumes to increase 4-6% this year
Huntington Ingalls Industries on Thursday reported better-than-expected second-quarter results, as heightened global tensions drove up demand for aircraft carriers, amphibious assault ships and submarines.The Virginia-based company reported a profit of $4.38 per share for the quarter ended June 30, ahead of analysts' estimates of $3.62.
Norwegian Cruise Line Holdings on Wednesday raised its annual profit forecast for a third time this year, riding on sustained demand for luxury voyages and higher ticket prices.With people continuing to splurge on experiences and services over discretionary goods, operators have seen record booking rates for affordable cruise vacations, giving them enough opportunity to increase ticket prices.
Shipping giant CMA CGM said on Thursday that brisk international trade and Red Sea disruption supported its main maritime division in the second quarter and should limit any market slowdown later this year as new ship capacity arrives.The world's third-largest container shipping line reported a 6.8% year-on-year increase in volumes in the second quarter.
Power services firm GE Vernova on Wednesday said a manufacturing flaw led to a turbine blade failure at the Vineyard Wind offshore project off the coast of Massachusetts earlier this month.The turbine blade broke on July 13 and left potentially dangerous debris on beaches on the island of Nantucket. Later, U.S. authorities ordered a shutdown of the project, which is still under construction.