America’s largest military shipbuilding company Huntington Ingalls Industries (HII) said its Ingalls Shipbuilding division has received a contract modification from the U.S. Navy for $113.6 million to enable long-lead-time material and advance…
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Nord Stream 2 Pipeline Suspension Could be Short-lived
The suspension of the approval process for the Russian Nord Stream 2 pipeline by a German regulator could be short-lived as Europe is hungry for more gas, an analyst said on Monday after meeting officials of Russian state gas giant Gazprom.Last week…
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Iran’s Guards Seize Foreign Ship in Gulf
Iran's Revolutionary Guards said on Saturday they had seized a foreign ship in Gulf waters loaded with what they described as smuggled diesel.Guards commander Ahmad Hajian said the ship's 11 crew had been detained, but did not give details on their nat...
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US Patrol Boats Sent to Beef Up Ukrainian Navy Near Black Sea
A ship carrying two refitted former U.S. Coast Guard patrol boats designed to beef up the Ukrainian Navy transited the Dardanelles strait on Saturday days after Ukraine said it feared Russia might be preparing an attack on it.The ship carrying…
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ADNOC Weighs IPO of Logistics, Marine Services, and Shipping Unit
State oil firm Abu Dhabi National Oil Company (ADNOC) is weighing an initial public offering (IPO) of its marine services, logistics and shipping arm next year, two sources familiar with the matter told Reuters.ADNOC Logistics & Services (ADNOC…
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First RAstar 2800-CL ASD Escort Tug Delivered
Svitzer Suez 1, the first RAstar 2800-CL ASD escort tug, has been delivered to Svitzer Egypt LLC by Cheoy Lee Shipyards and will soon commence operations in the Suez Canal. Svitzer are the first owners of this new escort tug design and a further…
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Great Lakes Towing Expands Services to Sturgeon Bay
The Great Lakes Towing Company said it is expanding its harbor towing and ice breaking services to Sturgeon Bay, Wis.The Towing Company has undertaken a fleet renewal program that began with the laying of 10 keels in August 2016. Since that time…
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Maersk Issues First Green Bond to Fund Methanol Vessels
Shipping giant Maersk said it has launched its Green Finance Framework designed to allow the company to issue a variety of sustainable financing instruments which may include bonds, loans, project finance and other instruments.“Issuing Green…
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CMA CGM’s Earnings Soar on Shipping Rush
Shipping group CMA CGM on Friday reported a surge in third-quarter earnings and said it expected an even stronger performance for the end of the year as intense demand kept freight rates high and container capacity stretched.French-based CMA CGM, one o...
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Phillips 66 to Convert Alliance Refinery to Terminal Facility
Energy manufacturing and logistics company Phillips 66 announced it plans to convert its Alliance Refinery in Belle Chasse, La., to a terminal facility. The conversion is expected to take place in 2022.“We made this decision after exploring…
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