Lone Star Funds has reached a del to buy U.S. shipbuilding and repair group Titan Acquisition Holdings from peer investment firms Carlyle and Stellex Capital Management. Financial terms were not disclosed.Titan is comprised of Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Ore.
At least four Chinese-owned supertankers are shipping Russian Urals crude to China, according to trading sources and tracking data, as Moscow seeks vessels for exports after a G7 oil price cap restricted the use of Western cargo services and insurance.China, the world's top oil importer, has continued buying Russian oil despite Western sanctions
Exports of Russia's flagship Urals crude blend from Baltic Sea ports may fall by up to a fifth in December, after a Western price cap and an EU embargo on Russian oil took effect, according to traders and Reuters calculations.Traders said Russia has been unable to fully redirect Urals exports from Europe to other markets, notably India and China
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
Infinity Nine, the second of the Kando series of contemporary explorer yachts from AvA Yachts was delivered to its owner NBA basketball star Tony Parker in early November.Atilla Küçükdiker, chairman and founder of AvA Yachts, said, “It is a proud and happy day that we as AvA Yachts team have delivered Infinity Nine! We describe our Kando series yachts as contemporary explorers and Infinity Nine
Three grain ships left Ukrainian ports on Friday while the first inbound cargo vessel since Russia's invasion was due in Ukraine to load, as Kyiv called for the safe passage deal to be extended to other cargoes such as metals.The July 22 deal marked a rare diplomatic breakthrough as war rages in eastern Ukraine
Russian-backed separatists have seized two foreign-flagged ships in the eastern Ukrainian port city of Mariupol, saying they are now "state property", in the first such moves against commercial shipping, letters seen by Reuters showed.Mariupol, on Ukraine's southern coast, fell under the control of Russian and separatist forces in May after a months-long siege.
Chief Executive Bob Chapek introduced Walt Disney Co's first new cruise ship in a decade on Wednesday, the culmination of the first project the former theme parks executive championed to the company's board of directors.The launch of the 4,000-passenger Disney Wish is a bright spot for Chapek
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.
Russia's leading shipping company Sovcomflot plans to sell part of its fleet on Friday, as it grapples with Western sanctions and seeks to repay outstanding loans.Sovcomflot has faced growing challenges in concluding charters as ports, end purchasers, marine insurers, and other freight companies pull back from Russian business amid sanctions imposed in response to Moscow's invasion of Ukraine.
A unified command consisting of the U.S. Coast Guard, Alaska Department of Environmental Conservation, and Western Towboat, continues to lead the response efforts for the grounded tug in the Neva Strait, which initially occurred Monday morning.The tug owner, Western Towboat, contracted Hanson Maritime, SEAPRO
Several hundred mines have drifted into the Black Sea after breaking off from cables near Ukrainian ports, Russia's main intelligence agency and shipping market participants said.The Black Sea is a major shipping artery for grain, oil, and oil products."Due to storm weather, the cables connecting the mines to anchors were broken," Russia's Federal Security Service (FSB)