By Mahmoud Habboush (Bloomberg) –An Abu Dhabi-based company that builds drilling platforms for oil giant Saudi Aramco plans to diversify into renewable energy by supplying gear for offshore wind farms. National Petroleum Construction Co. is bidding for wind projects in the North Sea and monitoring wind-equipment tenders coming out of India and Southeast Asia, Chief […]
Breaking News
Tangier Port to Become Mediterranean’s Largest
By Ahmed Eljechtimi and Ulf Laessing KSAR SGHIR, Morocco, June 26 (Reuters) – Morocco will open new terminals at its Tanger Med port on Thursday allowing it to surpass the largest ports in the Mediterranean Algeciras and Valencia, and driving further investment and manufacturing to the country. Already the biggest port in Africa with an […]
Carr: Searching the Bottom of Long Island Sound
By Michael Carr – We were searching the bottom of Long Island Sound between Old Saybrook CT and Plum Island Long Island, for a 36 ft. powerboat. The boat sank after colliding with a towed barge, filled with concrete. Our search area was approximately 7 miles long, east to west, and 6 miles wide, north […]
Business of Shipping: Smooth Sailing Ahead for Jones Act Operators
By Ira Breskin (Business of Shipping) – It should be smooth sailing for the foreseeable future for operators of large Jones Act vessels, speakers said last week at the 32nd annual Marine Money Conference in New York. The placid market forecast assumes that the supply-demand balance will remain largely intact. That’s because there is a […]
Innovation Must Overtake Growth for ‘Sea Change’ in Shipping Emissions
By Alexander Whiteman (The Loadstar) – Carriers are failing to tackle greenhouse gases (GHGs) and sufficiently invest in the new technologies required to meet the IMO’s pledge to cut emissions in half by 2050. This was the finding of a new report from research group CDP, titled A Sea Change, published just as Maersk and […]
Freight Forwarders to Serve Prison Time in U.S. for Price Fixing
WASHINGTON, June 25 (Reuters) – Two executives of a freight forwarding company have been sentenced to prison for fixing the prices of freight forwarding services, the Justice Department said on Tuesday. Roberto Dip was sentenced to 18 months while Jason Handal was sentenced to 15 months for fixing the prices of freight forwarding from about […]
U.A.E. Splits With U.S. Over Blame for Oil Tanker Attack in May
By Abbas Al Lawati (Bloomberg) –The United Arab Emirates appeared to distance itself from U.S. claims that pinned attacks on oil tankers near the Strait of Hormuz on Iran. “Honestly we can’t point the blame at any country because we don’t have evidence,” Foreign Minister Sheikh Abdullah Bin Zayed Al Nahyan said on Wednesday in […]