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MOL Expands LNG Investment Ordering Five Capesize Bulkers

MOL Expands LNG Investment Ordering Five Capesize Bulkers

By The Maritime Executive
December 19, 2023
  Japan Mitsui O.S.K. Lines is continuing its move to adopt LNG-powered vessels as part of its decarbonization plan. The company announced orders for five of the largest dry bulk carriers in its fl...
Shipbuilder Samsung Ordered to Pay $290M in Dispute Over Defective LNG Tank

Shipbuilder Samsung Ordered to Pay $290M in Dispute Over Defective LNG Tank

By The Maritime Executive
December 19, 2023
  South Korean shipbuilder Samsung Heavy Industries reports it lost an arbitration in London over a long-running battle over defects and repairs to two LNG gas carriers built by the company using a...
Exxon Gets Green Light to Expand Hebron Offshore Oilfield

Exxon Gets Green Light to Expand Hebron Offshore Oilfield

By The Maritime Executive
December 19, 2023
ExxonMobil has secured approval from its Canadian regulators for the expansion of the Hebron offshore oil field, adding an estimated 165 million barrels to the project's reserves.  Exxon asked for...
Lloyd's Adds Guyana Offshore Sector to War Risk List

Lloyd's Adds Guyana Offshore Sector to War Risk List

By The Maritime Executive
December 19, 2023
Amidst heightened border tensions between Venezuela and the small nation of Guyana, Lloyd's Joint War Committee has added the booming Guyanese offshore sector to its list of areas of elevated risk, al...
Energy Price Jumps as BP, Tankers, and Gas Carriers Stop Red Sea Transits

Energy Price Jumps as BP, Tankers, and Gas Carriers Stop Red Sea Transits

By The Maritime Executive
December 19, 2023
  Oil major BP joined the growing list of shipping companies that are suspending their operations passing through the Red Sea and Suez Canal as the security situation was increasingly being called...
Fruit Juice Tanker Becomes Latest Vessel to Add Wind-Assisted Propulsion

Fruit Juice Tanker Becomes Latest Vessel to Add Wind-Assisted Propulsion

By The Maritime Executive
December 19, 2023
  The adoption of wind-assisted propulsion is continuing to grow as more shippers and vessel owners seek to increase the efficiency and lower emissions from their ships. The latest plan will see th...
Royal Navy Destroyer Joins Red Sea Maritime Security Force

Royal Navy Destroyer Joins Red Sea Maritime Security Force

By Royal Navy News
December 19, 2023
HMS Diamond has joined an international naval force on a dedicated mission to safeguard shipping in the Red Sea. Just three days after the Portsmouth-based destroyer downed a drone fired at merchan...
One Crewmember Medically Evacuated from Hijacked Bulker off Somalia

One Crewmember Medically Evacuated from Hijacked Bulker off Somalia

By The Maritime Executive
December 19, 2023
  One of the 18 crewmembers aboard the Bulgarian-owned bulk carrier Ruen seized by pirates last week was released for medical reasons officials reported today. However, the situation aboard the ves...
Maersk Diverts 20 Ships From Red Sea

Maersk Diverts 20 Ships From Red Sea

By The Maritime Executive
December 19, 2023
  Maersk confirmed after pausing all of its containerships near the Red Sea it has determined to reroute approximately 20 vessels due to what it calls the “alarming” attacks and the “significant th...
Port of New Orleans Gets $74M Grant for New Container Terminal

Port of New Orleans Gets $74M Grant for New Container Terminal

By The Maritime Executive
December 18, 2023
The Port of New Orleans has secured a $74 million grant for planning the development of a controversial new container terminal in St. Bernard Parish. The funding comes from the 2021 Infrastructure Act...

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