Realizing the full value of digital solutions far exceeds the capability of technology. The technology exists today to help offshore energy and maritime operators radically improve efficiency and cut costs in equal measure. The real trick to driving efficiencies is to take advantage of the latest technologies while at the same time negotiating the necessary culture change within individual
U.S.-based offshore vessel operator Hornbeck Offshore Services confirmed Monday it had reached a final settlement agreement with the surety (the “Surety”) for two Multi-Purpose Support Vessels (MPSVs) that had been under construction at Gulf Island Shipyards.Gulf Island Shipyards (GIS) sued Hornbeck Offshore in 2018 over what it said was the wrongful termination of two shipyard construction
Maritime Partners, a Louisiana-based provider of maritime financing solutions primarily focused on Jones Act vessels, announced that on September 20, 2023, one of its managed funds acquired Norfolk, Va.-based U.S. Marine Management LLC (USMMI) from Maersk Line, Limited.USMMI owns and operates U.S.
President Joe Biden’s goal to deploy 30,000 megawatts of offshore wind along U.S. coastlines this decade to fight climate change may be unattainable due to soaring costs and supply chain delays, according to forecasters and industry insiders.The 2030 target, unveiled shortly after Biden took office, is central to Biden's broader plan to decarbonize the U.S. economy by 2050.
U.S. offshore vessel owner Hornbeck Offshore Services, best known for its offshore oil and gas support vessel services, is looking at business opportunities in the growing U.S. offshore wind sector as well as in offshore accommodation services in the oil and gas area.For that, Covington, La.
Four international groups are competing to buy Exxon Mobil Corp's majority stake in a liquefied natural gas (LNG) terminal offshore Italy, two sources familiar with the matter said. The deal could value the entire LNG terminal at around 800 million euros ($881 million), the sources said.
The prosperity of port cities, throughout history, has been closely tied to the ports’ ability to adapt to economic and technological change. As ships got bigger, ports had to keep up. This has often seen the port proper grow apart from the city whose name it bears because the old harbor could no longer accommodate the needs of modernized shipping.
Bollinger Shipyards has begun fabrication at its newly acquired Mississippi repair facility, Bollinger Mississippi Repair, in preparation to refit the National Oceanic and Atmospheric Administration (“NOAA”) Ship Ronald H. Brown, the largest ship in NOAA’s fleet. The overhaul is expected to extend the vessel's life, first launched in 1996, by an additional 15 years.
The green hydrogen express is gathering pace, but it may have a worrying problem with leaks.As governments and energy companies line up big bets on the much-touted fuel of the future, some scientists say the lack of data on leaks and the potential harm they could cause is a blind spot for the nascent industry.
Turkey emerged as a critical stumbling block to a complex international plan to deprive Russia of wartime oil revenues as the number of tankers waiting to exit the Black Sea through Turkish straits continued to rise on Friday.Ankara has declined to scrap a new insurance inspection rule it implemented at the beginning of the month despite days of pressure from Western officials frustrated by the
Turkey's maritime authority said on Thursday it would continue to block the passage of oil tankers that don't carry appropriate insurance letters, adding that insurance checks on ships in its waters were a "routine procedure".The logjam is creating growing unease in oil and tanker markets and comes as the G7 and European Union introduce a price cap on Russian oil.
Western officials are in talks with Turkish counterparts to resolve oil tanker queues off Turkey, a British Treasury official said, after the G7 and European Union rolled out new restrictions on Dec. 5 aimed at Russian oil exports."The UK, U.S. and EU are working closely with the Turkish government and the shipping and insurance industries to clarify the implementation of the Oil Price Cap and