The stranding of a container ship in the Suez Canal has created disruptions in the global shipping industry that could take weeks and possibly months to clear, top container shipping lines said.Around 30% of the world’s shipping container volume - incl...
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Global Reinsurers Stare at Massive Losses from Suez Canal Blockage
The blocking of the Suez Canal by one of the world’s largest container ships is likely to result in losses worth hundreds of millions of euros for the reinsurance industry, Fitch Ratings said, even as rescue teams were successful in partially…
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TECH FILE: Acoustic Tech Used to Understand Climate Change in the Arctic
Major changes are occurring in the ocean. Climate change and subsequent melting sea ice are not necessarily good changes. Why are acoustic Doppler current profilers an invaluable tool to get a complete picture of the Arctic’s changing wave conditions i...
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TECH FILE: Software Helps Merchant Mariners with USCG Credentials
MM-SEAS is the reportedly the first software that automates the manual task of obtaining, tracking and renewing U.S. Coast Guard (USCG) credentials, helping to eliminate paperwork processing errors while delivering merchant mariner career guidance.Civi...
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Shipbuilding: Austal USA Breaks Ground on Steel Manufacturing Line
Austal USA broke ground on its steel manufacturing line Friday, March 26, 2021, positioning the company to start steel production in April 2022.“This world-class steel manufacturing line is a treasure for the Gulf Coast, the U.S. Navy and the U.S.
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LNG-electric Tugs Ordered to Service the LNG Canada Project
A unique partnership formed between the Haisla Nation and North Vancouver-based Seaspan ULC will produce battery-powered and low emissions tugboats to serve the $40 billion LNG Canada project in Kitimat, B.C.Majority-owned by the Haisla Nation…
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Coast Guard Investigating Mysterious Sheen in Brunswick, Ga.
Authorities are working to track down the source of a recurring mystery sheen emanating from the bank of the East River in Brunswick, Ga.The U.S. Coast Guard said Friday its Marine Safety Unit (MSU) Savannah personnel have been conducting an…
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All American Marine Sold to Bryton Marine Group
U.S. shipbuilder All American Marine (AAM) has been sold to family-owned Bryton Marine Group, the company announced on Friday.The aluminum vessel designer and builder will continue to operate in Bellingham, Wash. Bryton CEO Byron Bolton will assume the...
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IMO Issues Statement on Ever Given Grounding
The head of the United Nations' maritime agency issued a statement Friday following the grounding of containership Ever Given and the resulting closure of the Suez Canal.International Maritime Organization (IMO) Secretary-General Kitack Lim…
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LNG Shipping Costs: A Roller Coaster in Early 2021
For most of 2020, the liquefied natural gas (LNG) shipping market was in a depressed state like many other segments of the global gas industry. LNG export cargoes fell by 0.2% y-o-y in 2020 to reach 5,682 shipments, driven by a slowdown in LNG demand a...
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