Tuesday, April 16, 2024
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Russian President Vladimir Putin tours Zvezda Shipyard, before the invasion (file image courtesy of the Kremlin).

Under Heavy Sanctions Pressure, Putin Orders Review of Russian Shipyards

Published Apr 15, 2024 10:53 PM by The Maritime Executive

Western sanctions have been delaying Russia's civilian shipbuilding industry since the invasion of Ukraine began, and the problem is not getting any better for Russian shipping interests, according to state-owned media.  Government-controlled Rossiyskaya Gazeta reports that about eight out of ten Russian ships currently on order might not deliver in the foreseeable future. Out of the 49 that will likely deliver in the year ahead, more than half will need to be redesigned in order to work around the lack...

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Sheen near the abandoned MC20 well, 2018. The U.S. Coast Guard stepped in after the operator walked away and organized the cleanup (USCG file image)

BOEM Imposes Stricter Cleanup Bond Requirements for Offshore O&G

Published Apr 15, 2024 9:15 PM by The Maritime Executive

  For the first time in 20 years, the Bureau of Ocean Energy Management has changed the rules on how offshore oil and gas operators guarantee that they will clean up after a platform is decommissioned. These costs are high, and BOEM says that it wants to ensure that the expense does not fall on the federal government.  Before the change, the agency had financial assurance coverage for less than a tenth of an estimated $38 billion in potential decommissioning...

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cable layer

First US Cable Layer Planned to Fill Gap in Offshore Wind Sector Capability

Published Apr 15, 2024 7:27 PM by The Maritime Executive

  Looking to fill another gap in the capabilities needed for the U.S. offshore wind energy sector, a startup called Kalypso Offshore Energy announced plans to build the first U.S. cable vessel. The company reports it will be an innovative Cable Lay Vessel that will be Jones Act compliant for the offshore wind market. Kalypso was launched in 2023 and looks to develop to meet the opportunities in the emerging offshore wind market. Their first step is a letter of...

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Decarbonization

America's Ports Want to Decarbonize, But Cost & Grid Power Remain Hurdles

Published Apr 15, 2024 7:26 PM by The Maritime Executive

  The American Association of Port Authorities has completed a survey of its members' decarbonization efforts, in cooperation with ABS. The responses reveal that most U.S. ports have plans to reduce their emissions, often driven by internal commitment to change their operations - but challenges remain.  All of AAPA's member ports were surveyed, and 29 ports and terminals responded to the questionnaire. Two out of three respondents said that they have formal goals to decarbonize their operations; many in the...

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MORE STORIES BY CATEGORY

Offshore

cable layer

First US Cable Layer Planned to Fill Gap in Offshore Wind Sector Capability

  Looking to fill another gap in the capabilities needed for the U.S. offshore wind energy sector, a startup called Kalypso Offshore Energy announced plans to build the first U.S. cable vessel. The company reports it will be an innovative Cable Lay Vessel that will be Jones Act compliant for the offshore wind market. Kalypso was launched in 2023 and looks to develop to meet the opportunities in the emerging offshore wind market. Their first step is a letter of...

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Shipbuilding

Russian President Vladimir Putin tours Zvezda Shipyard, before the invasion (file image courtesy of the Kremlin).

Under Heavy Sanctions Pressure, Putin Orders Review of Russian Shipyards

Western sanctions have been delaying Russia's civilian shipbuilding industry since the invasion of Ukraine began, and the problem is not getting any better for Russian shipping interests, according to state-owned media.  Government-controlled Rossiyskaya Gazeta reports that about eight out of ten Russian ships currently on order might not deliver in the foreseeable future. Out of the 49 that will likely deliver in the year ahead, more than half will need to be redesigned in order to work around the lack...

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Environment

Bleaching

A New Global Coral Bleaching Event is Under Way, and May Be the Worst Yet

  Reports of serious coral bleaching at Australia's Great Barrier Reef, the coast of Florida, and the South Pacific have been building for months, and NOAA scientists have now declared a global bleaching event. It is the second in ten years and the fourth on record. The event spans from February 2023 until the present, starting at about the same time that global sea surface temperatures began to set new daily records every day. Widespread bleaching has been reported on...

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Business

HMM containership

HMM Accelerates Strategy with Plans for Container and Dry Bulk Growth

  HMM announced plans to accelerate its expansion efforts focusing on both its container shipping and dry bulk operations in a move designed to double the size of the operation by 2030. This comes after the state-controlled banks shelved plans to privatize the carrier and as the Korean government signaled plans to provide further financial support to the shipping industry. “We plan to build a stable portfolio by expanding the bulk and integrated logistics business, focusing on the container business,”...

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