Wednesday, November 20, 2024
Media Kit
Susan Rose (file image courtesy Town Dock)

Video: Resolve Marine Raises Wreck of the Susan Rose

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Techfirm Canaris

Impact of Digital Technologies on Seafarers' Mental Health and Wellbeing

Published Nov 20, 2024 1:21 PM by Techfirm Canarias

Despite transitioning towards a net-zero world over the past decade, demand for oil and gas has grown unabated, encouraging the industry to travel further into remote areas to extract and process natural resources. Behind all those endeavors and sophisticated machinery, it's easy to overlook the important roles that men and women play in making this happen. They are the foundation of every development, often working in rough and remote conditions with little interaction with the modern world. The recent emergency...

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Comms cables on the seabed (USN file image)

After Subsea Cable Damage, Five Nations Warn of Russian Hybrid Warfare

Published Nov 19, 2024 11:26 PM by The Maritime Executive

  On Tuesday, just days after two Baltic subsea cables were severed in a suspected intentional attack, five European countries issued a condemnation of Russian espionage activities within the EU. The message addressed a broad, ongoing campaign of Russian sabotage operations against Ukraine's allies.  "Russia is systematically attacking European security architecture. Moscow’s escalating hybrid activities against NATO and EU countries are also unprecedented in their variety and scale, creating significant security risks," the foreign ministers of France, Germany, Italy, Poland,...

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Munro crew

U.S. Coast Guard Cutter Delivers $335M in Cocaine to San Diego

Published Nov 19, 2024 10:35 PM by The Maritime Executive

  On Tuesday, the crew of the Coast Guard cutter USCGC Munro offloaded more than 29,000 pounds of cocaine at a pier in San Diego.?  The $335 million, 13,000-kilo delivery was the result of no fewer than eleven smuggling-boat interdictions in the Eastern Pacific trafficking zone in September and October.  "I would put this crew on any mission, anywhere, at any time," said Capt. James O’Mara, commanding officer of Munro. "For our families and loved ones back home: your support keeps us going out there. It...

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Cash

Trafigura Charged for Alleged Bribery Scheme in Angola

Published Nov 19, 2024 10:08 PM by The Maritime Executive

  Swiss commodity trading giant Trafigura has been charged with failing to prevent a $5 million bribery scheme in its chartering and oil trading operations in Angola, the latest public corruption case involving the commodity-trading industry in the developing world. It is the first such case in Switzerland to result in charges against a top executive - Mike Wainwright, the firm's former CEO, who retired earlier this year.  According to Swiss prosecutors, Trafigura paid off an Angolan oil official, Paulo...

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Offshore

South Korea offshore wind farm

First Power Achieved from South Korea’s First Commercial Offshore Wind Farm

  South Korea marked a milestone in its efforts to join the growing list of countries around the world generating power from offshore wind farm installation. First power was generated from the country’s first commercial-scale wind farm, in a test phase, marked by a visit from the country’s Prime Minister Han Duck-soo to inspect the site and hail the industry’s achievement. The project known as Jeonnam 1 is located off the southwest coast of Korea in a location northwest of...

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Shipbuilding

Korean shipbuilding

Korean Shipbuilders Expect Strong 2025 While Looking to Trump Presidency

  South Korea’s shipbuilding industry is projecting another strong year as part of a multi-year supercycle in orders while also looking to the second presidency of Donald Trump to be a boon to the industry. Despite growing competition from Chinese shipbuilders, the Koreans are expressing confidence in part due to their focus on high-value shipbuilding, new technologies, and an increased focus on navy shipbuilding and repair for the U.S. Navy and others. The expectations for 2024 were reserved with many...

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Environment

green shipping corridor

Report: Green Corridors Face “Feasibility Wall” Due to Fuel Costs

  A new report warns that a “feasibility wall” could jeopardize the significant progress being made for the adoption of green corridors, a key part of efforts to support sustainable shipping. The Getting to Zero Coalition and the Global Maritime Forum report that the lack of policies to bridge the cost of switching to zero-emission fuels has emerged as the number one bottleneck creating a “feasibility wall” risking the implementation of the concept. The initiative to form green corridors as...

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Business

jackup rigs

Keppel Seeks to Monetize Legacy Rigs as Offshore Energy Sector Rebounds

  Opportunities are emerging in the offshore energy sector as the market improves prompting Singapore-based Keppel to announce it will take direct control of 13 offshore rigs that are part of its former offshore and marine business. The new transaction is a follow-up to the $3.3 billion combination of Keppel Offshore & Marine and Sembcorp Marine which created Seatrium Offshore & Marine in 2023. Keppel highlights that the global drilling fleet is aging rapidly and that during the prolonged downturn,...

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