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Wednesday, July 10, 2024
Media Kit
cargo ship aground

Cargo Ship Grounds, Boxships Stopped Due to South Africa’s Bad Weather

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Marlin Luanda fire

IMO Honors Crew of a Product Tanker That Was Hit by a Houthi Missile

Published Jul 10, 2024 4:54 PM by The Maritime Executive

  The International Maritime Organization has decided to give  this year's Exceptional Bravery at Sea award to two recipients: the crew of the tanker Marlin Luanda, which was hit by an anti-ship missile early this year; and the crew of the tug Pemex Maya, which rescued no fewer than six people from four vessels in the midst of a hurricane. On January 26, the product tanker Marlin Luanda was under way from Suez to Incheon when she was

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yacht cruise ship keel

Construction Begins on Ultra-Luxury Cruise Yachts for Four Seasons and Aman

Published Jul 10, 2024 3:29 PM by The Maritime Executive

  Work got underway at two shipyards in Italy for the cruise industry’s next ultra-luxury mega-yachts designed to bring a new level of opulence and service to cruising. The ships, which are being built for the Four Seasons and Aman brands, are part of the trend seeing the luxury hotel brands expand into cruising. Ritz-Carlton also entered cruising in 2023 and Orient Express is building cruise ships in France. Fincantieri marked the keel laying as it lowered the first block...

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Aid truck crosses the floating causeway in mild swells, June 2024 (U.S. Army)

U.S. Likely to Remove Gaza Aid Pier Weeks Earlier Than Planned

Published Jul 10, 2024 3:13 PM by The Maritime Executive

  After a string of weather-related mishaps and security difficulties, the U.S. military will likely remove the temporary pier that the Army and Navy installed on the coast of Gaza earlier this year. It will be relocated to its beachfront mooring one more time on Wednesday in order to wrap up aid deliveries in progress, and may be disassembled and removed when this is completed.  The shutdown comes at least several weeks earlier than expected, and possibly several months. The...

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Eneos LPG tanker

Eneos Cites Investment and Regulatory Costs in Sale of 49 Vessels to NYK

Published Jul 10, 2024 1:17 PM by The Maritime Executive

Japan’s NYK Line, already a leader in energy shipping, plans to further consolidate the industry through an agreement that will make the non-crude oil shipping operations of Eneos Ocean a subsidiary of the company. NYK highlights the opportunities for economies of scale, quality control, cost competitiveness, and growth through the transaction which involves 49 ships. Eneos said it had determined based on the increased investment requirements that it was optimal to have new ownership for the shipping business...

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Offshore

offshore wind farm

Avangrid Sells Part of Kitty Hawk Offshore Wind Lease to Dominion Energy

  Dominion Energy and Avangrid have agreed to the terms of a deal that would sell a portion of the Kitty Hawk offshore lease area to a division of Dominion for potential future development. Since even before the Virginia company began construction on its first large-scale wind farm it has expressed interest in the possibility of expanding wind energy’s contribution to meet the commonwealth’s power needs. Under the terms announced late today, Avangrid would sell the smaller north portion of...

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Shipbuilding

yacht cruise ship keel

Construction Begins on Ultra-Luxury Cruise Yachts for Four Seasons and Aman

  Work got underway at two shipyards in Italy for the cruise industry’s next ultra-luxury mega-yachts designed to bring a new level of opulence and service to cruising. The ships, which are being built for the Four Seasons and Aman brands, are part of the trend seeing the luxury hotel brands expand into cruising. Ritz-Carlton also entered cruising in 2023 and Orient Express is building cruise ships in France. Fincantieri marked the keel laying as it lowered the first block...

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Environment

containtership car carrier

Six Shipping Industry Groups Come Out Swinging Calling for CII Reforms

  Six of the major shipping industry trade groups representing everything from bulk cargo to containers, tankers, and passenger shipping, have joined together to highlight the shortcomings of the International Organization’s Carbon Intensity Indicator (CII).  While there has been broad talk of the issues within the structure of the CII which became effective on January 1, the six groups have joined together to highlight the perceived “inadequacies” of the program. CII applies to ships of 5,000 gross tonnage and above...

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Business

OSG tanker

Saltchuk Completes Acquisition of OSG After Several Previous Offers

  Saltchuk Resources completed its previously announced tender offer to acquire all the outstanding shares of common stock of Overseas Shipholding Group (OSG) as the last step in the acquisition of the company focused on Jones Act tankers.  OSG joins Saltchuk as its seventh business unit, adding energy shipping to its diversified lines of business which include domestic shipping, international shipping, logistics, marine services, energy distribution, and air cargo. Among its maritime interests are ownership of TOTE, Tropical Shipping, Foss...

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