Tuesday, December 24, 2024
MORE TOP STORIES
offshore wind turbine

Another Later-Stage Development U.S. Offshore Wind Farm Shelved

Published Dec 24, 2024 12:49 PM by The Maritime Executive

Vineyard Wind, an affiliate of Copenhagen Infrastructure Partners, confirmed in a brief statement that it is shelving the proposed Vineyard Wind 2 project in response to Connecticut’s decision not to proceed in awarding wind projects after the recent New England tri-state solicitation. The project had been selected by Massachusetts and is in a later stage of permitting at the federal level. “With Connecticut’s decision today (December 20) not to purchase the remaining 400 MW, we are unable to...

Continue Reading...
Windward AI

Windward Maritime Intelligence Business Agrees to Buyout from U.S. Investor

Published Dec 24, 2024 11:57 AM by The Maritime Executive

Predictive maritime intelligence company Windward, which harnessed the power of AI to create a unique platform, has agreed to a buyout by U.S.-based FTV Capital Group, a growth equity investment firm. Both companies are highlighting it as the next step in the evolution of Windward as it expands from its strong base in the maritime sector to related industries. Under the terms of the agreement, which is being conducted as a “reverse triangular merger under Israeli Companies Law,”...

Continue Reading...
Ursa Major (file image courtesy Rosmorport)

Russian Military Sealift Ship Sinks After Engine Room Explosion

Published Dec 23, 2024 11:20 PM by The Maritime Executive

  On Monday, a sanctioned Russian cargo ship sustained an engine room explosion off Spain and sank, leaving two crewmembers missing.  At about 1230 hours local time, the Ursa Major was under way eastbound in the Strait of Gibraltar when she sustained an explosion in the engine room. She slowed and deviated from course, then began to list.  AIS data shows that a Spanish Navy warship, the Spanish response vessel Clara Campoamor and a good Samaritan vessel - the Sparta, another...

Continue Reading...
The Panamanian-built New Panama Canal lock system (AMP file image)

Trump Orders Panama to Lower Transit Rates or "Return" Canal to the U.S.

Published Dec 23, 2024 11:12 PM by The Maritime Executive

  The government of Panama has pushed back against President Donald Trump's new demand to lower charges for U.S. vessels or "return" the Panama Canal to American custody. Over the weekend, Trump accused the government of Panama of charging inflated transit rates to U.S. shipping and U.S. Navy vessels for usage of the waterway, and he suggested a connection to Chinese influence. "When President Jimmy Carter foolishly gave it away, for one dollar, during his term in office, it was...

Continue Reading...
MORE STORIES BY CATEGORY

Offshore

oil on the water

Greek Companies and Tanker Engineers Pay U.S. Over $4.5M in MARPOL Fines

  The owner and operator of a Greek product tanker along with two engineers working on the vessel have each pleaded guilty in the latest U.S. Coast Guard MARPOL violation case. The fines totaled more than $4.5 million for offenses including discharging oily waste into the U.S. territorial waters and trying to conceal the crime including falsifying records. The U.S. Justice Department reported that the chemical tanker Kriti Ruby committed the offenses during port calls in Jacksonville, Florida, and the...

Continue Reading...

Shipbuilding

FSG shipyard Germany

FSG Shipyards Get Temporary Financing from German State to Continue Work

The bankrupt German shipbuilding group FSG-Nobiskrug Holding received temporary financing to keep the operations open while efforts continue to seek permanent investors. The group had been forced into a contentious insolvency order by the German courts despite assertions from the yard’s owners that they would be refinanced. Germany’s Federal Minister of Economics, Robert Habeck, accepted an invitation from the union IG Metal and visited the shipyard in Flensburg today, December 23, to discuss the situation and...

Continue Reading...

Environment

Plastic litter lining the banks of the Mekong (Anton L. Delgado / Dialogue Earth)

The Struggle Against Plastic Choking the Mekong

  [By Anton L. Delgado] On Son Island in Vietnam’s Mekong Delta, Le Trung Tin scatters fish feed into his ponds, where dozens of snakehead fish leap through the surface in synchronised bursts. “I taught them how to do that,” he says proudly, tossing another handful of feed at his fish. The scene looks idyllic, but Le’s fish farm is a reluctant response to an escalating crisis. For decades, he made his living fishing the Hau River,...

Continue Reading...

Business

Windward AI

Windward Maritime Intelligence Business Agrees to Buyout from U.S. Investor

Predictive maritime intelligence company Windward, which harnessed the power of AI to create a unique platform, has agreed to a buyout by U.S.-based FTV Capital Group, a growth equity investment firm. Both companies are highlighting it as the next step in the evolution of Windward as it expands from its strong base in the maritime sector to related industries. Under the terms of the agreement, which is being conducted as a “reverse triangular merger under Israeli Companies Law,”...

Continue Reading...