Wednesday, May 01, 2024
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USCG polar icebreaker

Report: USCG’s Polar Icebreaker Program is 60 Percent Over Budget

Published May 1, 2024 2:39 PM by The Maritime Executive

  The project procurement costs for the U.S. Coast Guard’s new Polar Security Cutter program are expected to be 60 percent greater than the Coast Guard’s latest estimates. This is the finding that will be shared next week by an analyst from the Congressional Budget Office (CBO) during a hearing in front of the Transportation and Maritime Subcommittee of the U.S. House of Representatives’ Committee of Homeland Security. An advance copy of the opening statement by Eric Labs,...

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BV

Energy Insetting is the Key to Unlock the Potential of Future Fuels

Published May 1, 2024 2:19 PM by Paul Delouche

  The maritime industry is facing an ever-tightening regulatory environment in its efforts to achieve its ambitious net-zero target by the middle of this century. For meaningful progress to be achieved, the industry needs two things: practical solutions, together with a detailed understanding of the actual impact of various long and short-term measures on the industry’s future decarbonization pathway. This extends beyond purely technical considerations, encompassing the entire value chain, and accounting...

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SPOT terminal illustration

America's Largest Offshore Oil Terminal is Moving Ahead

Published Apr 30, 2024 11:45 PM by The Maritime Executive

  On Tuesday, executives with midstream company Enterprise Products Partners said that their plans for a massive offshore oil export terminal off Texas are going forward, and they expect to have their first commercial contracts in hand for its capacity soon. The reassurance follows shortly after Reuters reported that capex cost growth and commercialization challenges could slow the project.  If built, the Sea Port Oil Terminal (SPOT) would be the largest offshore terminal in the United States, bigger even than the...

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Boxer

USS Boxer's Breakdown May Take Two Months to Fix Without Drydock

Published Apr 30, 2024 10:02 PM by The Maritime Executive

  The U.S. Navy has decided to repair a damaged rudder aboard the amphib USS Boxer using divers in the water, a process that will take up to two months, officials told USNI News on Tuesday. Boxer was forced to return to port in San Diego earlier this month, but there are no open drydocks available to help her get back under way.  Getting Boxer into a drydock locally would mean refloating and removing another ship first. Instead of...

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MORE STORIES BY CATEGORY

Offshore

SPOT terminal illustration

America's Largest Offshore Oil Terminal is Moving Ahead

  On Tuesday, executives with midstream company Enterprise Products Partners said that their plans for a massive offshore oil export terminal off Texas are going forward, and they expect to have their first commercial contracts in hand for its capacity soon. The reassurance follows shortly after Reuters reported that capex cost growth and commercialization challenges could slow the project.  If built, the Sea Port Oil Terminal (SPOT) would be the largest offshore terminal in the United States, bigger even than the...

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Shipbuilding

electric offshore vessel

Bibby Marine Orders First Battery and Methanol Powered eCSOV

  A shipbuilding contract has been completed for what is being called the “world’s first truly zero-emission, electric Commission Service Operation Vessel,” which is being built as part of UK sponsored demonstration project. The ship is expected to enter service in the UK in 2026 using a combination of a powerful battery system along with dual-fuel methanol engines. A coalition of leading maritime companies led by Bibby Marine proposed the project as part of the UK’s Zero Emission Vessels and...

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Environment

BV

Energy Insetting is the Key to Unlock the Potential of Future Fuels

  The maritime industry is facing an ever-tightening regulatory environment in its efforts to achieve its ambitious net-zero target by the middle of this century. For meaningful progress to be achieved, the industry needs two things: practical solutions, together with a detailed understanding of the actual impact of various long and short-term measures on the industry’s future decarbonization pathway. This extends beyond purely technical considerations, encompassing the entire value chain, and accounting...

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Business

NYSE

Viking Takes Wall Street by Storm with Best IPO of 2024

  Viking, the luxury operator of ocean, river, and exploration cruises, roared onto Wall Street going public today, May 1, with what is being called the best deal of 2024. The company, which is a niche brand for aging baby boomers with lots of time and money to travel, became the third highest-valued cruise company with a market valuation of $10.4 billion in a heavily oversubscribed offering. The company filed for its offering in February in what analysts said was...

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