Sunday, November 24, 2024
Media Kit
Yi Peng 3 passes under the Great Belt Bridge (Storebaelt Bridge webcam)

Chinese Ship Suspected of Subsea Cable Sabotage Has a Twisted Anchor

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Boston cruise terminal Massport

Boston to Invest $100M in Cruise Port as It Sets New Passenger Record

Published Nov 22, 2024 8:59 PM by The Maritime Executive

The Massachusetts Port Authority (Massport) operators of Flynn Cruiseport Boston unveiled plans for a $100 million investment into its cruise operations to support future growth and incorporate shore power into the terminal. Port officials announced the plan while also celebrating a record-breaking passenger count in 2024. Boston has emerged as a strong regional cruise port and like the whole industry is enjoying strong growth. In 1986, Massport opened the new Black Falcon Cruise Terminal located in the South...

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Chinese drillship

China Commissions Its First Deep-Ocean Drillship

Published Nov 22, 2024 7:49 PM by The Maritime Executive

  In its quest to access deep-ocean resources, China commissioned its first drilling vessel at a shipyard in Guangzhou. The ultra-large drillship, the Meng Xiang (Dream), is a significant leap in China’s ambition for deep-sea exploration, including mineral resource surveys.  In a congratulatory letter to celebrate the commissioning of the vessel, Chinese President Xi Jinping noted that the design and construction of the vessel is a culmination of the nation’s unique resource mobilization system.  “I hope that we can keep...

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Alexander Saverys

Shareholders Sell 1.5M More Shares in Revised CMB.TECH (Euronav) Tender

Published Nov 22, 2024 7:03 PM by The Maritime Executive

  The revised tender period related to the offer to acquire EURONAV (now known as CMB.TECH) closed yesterday, November 21 with the company reporting investors sold another nearly 1.6 million shares to CMB. It brings to a close the contentious acquisition of the former EURONAV which had been challenged by activist shareholders. “We can finally turn the page on the tender offer for the shares of our company. The fact that very few shareholders tendered their shares is...

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Stanzel INTERTANKO

New Leadership to Guide INTERTANKO Tanker Trade Group in 2025

Published Nov 22, 2024 6:31 PM by The Maritime Executive

  INTERTANKO, the International Association of Independent Tanker Owners, had an eventful Council of Members meeting this week discussing key issues facing independent tanker powers and the liquid bulk trade. The trade group which was established in 1970 also confirmed new leadership as its long-term managing director steps down and its current chairman completes the maximum six-year term. The transition in leadership comes at a critical time for the industry. Demand has been rising dramatically after a prolonged down cycle...

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Offshore

Australia offshore wind farm

Australia’s Star of the South Revises Plan Based on Feasibility Studies

  A large wind project widely considered to be Australia’s first large offshore wind farm provided a critical update defining the project after five years of feasibility studies and consultations. The Star of the South, which received its exploration license in 2019 continues to be at the forefront as Australia moves towards its first offshore wind farms. “We’ve learned a lot since we first set out to explore the potential for offshore wind in Gippsland five years ago,” said Star...

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Shipbuilding

rock installation vessel

Philly Shipyard Sued Over Construction Delays on Rock Installation Vessel

  Great Lakes Dredge & Dock Company filed suit in the U.S. Eastern District against Philly Shipyard citing construction delays and a disagreement over the construction plan for the company’s rock installation vessel. The company is asking the court to grant a restraining order and preliminary injunction saying it is suffering harm due to the repeated delays in the delivery date for the vessel. The court filing cites that Great Lakes Dredge & Dock stipulated since it began the selection...

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Environment

Fin whale

Study: A Speed Limit on 3% of the Ocean Would Protect Whales

  An international group of researchers has published a new study that maps areas of whale activity with areas of high shipping activity in order to find the places with the highest risk of whale strikes, a leading cause of whale mortality (alongside fishing). The upshot, according to the research team, is that it should be possible to reduce the number of strikes by regulating marine traffic on just 2.6 percent of the ocean's surface - though that 2.6 percent...

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Business

Alexander Saverys

Shareholders Sell 1.5M More Shares in Revised CMB.TECH (Euronav) Tender

  The revised tender period related to the offer to acquire EURONAV (now known as CMB.TECH) closed yesterday, November 21 with the company reporting investors sold another nearly 1.6 million shares to CMB. It brings to a close the contentious acquisition of the former EURONAV which had been challenged by activist shareholders. “We can finally turn the page on the tender offer for the shares of our company. The fact that very few shareholders tendered their shares is...

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