By Jessica Shankleman (Bloomberg) -- Energy companies that stunned the world by offering to build wind farms with no subsidy may ruin the industry’s reputation by never actually delivering on their promises. That’s the warning of industry executives, who are cautious about the future of zero-subsidy offshore wind farms planned in Germany this year. Developers led … [Read more...]
Boston Startups Teaching Boats to Drive Themselves
By Joshua Brustein (Bloomberg) -- Frank Marino sat in a repurposed U.S. Coast Guard boat bobbing in Boston Harbor one morning late last month. He pointed the boat straight at a buoy several hundred yards away, while his colleague Mohamed Saad Ibn Seddik used a laptop to set the vehicle on a course that would run right into it. Then Ibn Seddik flipped the boat into autonomous … [Read more...]
Evergreen Marine, Asia’s Most Dramatic Hot-to-Cold Stock, Slides as China Bet Wanes
By Yu-Huay Sun and Richard Frost (Bloomberg) -- A Taiwanese shipping company is enduring the sharpest swing in fortunes among Asian shares. Evergreen Marine Corp., which operates the region’s second-largest container fleet, surged 39 percent last month in the top performance among members of the MSCI Asia Pacific Index. Behind the euphoria were bets that rising … [Read more...]
John McCain Blames Navy And Congress For Lack Of Training
By Ben Brody (Bloomberg) Following a series of deadly accidents, Senator John McCain on Sunday renewed his calls to address what he described as a U.S. failure during the past eight years to ensure that the military is prepared, equipped and trained. “Whenever you cut defense capabilities, the first thing that goes is the training and the readiness, because that’s easy … [Read more...]
Hurricane Jose May Threaten New York
By Emma Ockerman (Bloomberg) Hurricane Jose may threaten New York City and other areas of the East Coast by next week, according to the National Hurricane Center. The storm, about 480 miles (775 kilometers) south-southeast of Cape Hatteras, North Carolina, strengthened into a Category 1 hurricane late Friday as it churned through the Atlantic Ocean. Jose’s path could … [Read more...]
Two Weeks After Harvey, Cheniere’s Sabine Pass is Shipping More Gas Than Ever
By Naureen S. Malik (Bloomberg) -- Two weeks after Hurricane Harvey flooded the U.S. Gulf Coast, brought shipping to a halt and knocked out power to millions, the only company sending U.S. shale gas overseas is back in business. In fact, Cheniere Energy Inc.’s flagship Sabine Pass terminal in Louisiana is liquefying more natural gas for export than ever. Cheniere fully … [Read more...]
John Fredriksen Chucks Seadrill Bondholders Overboard to Keep Company Afloat
By Chris Hughes (Bloomberg Gadfly) -- Founder John Fredriksen has had to watch the value of Seadrill Ltd fall from more than $20 billion to barely $100 million in the last four years. Now he has clinched a deal to save the oil services group from failure. He has had to lead it -- and call on some expensive help. Seadrill owns and operates offshore oil rigs used by the likes … [Read more...]