The Royal Navy plans to build a new spy ship to keep an eye on the subsea telecom cables that connect the UK's data networks with the rest of the world.
Once famed by introducing Bangladesh as a shipbuilding country, the Western Marine Shipyard is now languishing from capital crunch and is looking for fund to survive, officials said.
Royal Caribbean Group has completed the sale of its Azamara cruise brand to Sycamore Partners, a private equity firm specializing in consumer, retail, and distribution investments. They had announced their plan to divest their smallest cruise line to focus on their larger Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands.
The global cruise industry is increasingly taking the first steps to restore operations at key markets around the world. Five cruise lines announced summer programs, including the first large US-based brands, with cruises scheduled for the Caribbean, Malaysia, and the UK, as the industry looks to take advantage of the expanding vaccine programs and loosening restrictions travel restrictions.
The American cruise industry has resumed operations one year after the global cruise industry went into shutdown due to the coronavirus. Two of the small ship operators, American Cruise Lines and American Queen Steamboat Company, quietly started their first cruises as the companies begin to carefully ramp up operations in anticipation of the summer cruise season.
Singapore is continuing its efforts to expand its bunkering infrastructure for liquefied natural gas as part of its efforts to maintain the port’s role as the leading global bunkering hub for the shipping industry. Currently, Singapore has approximately 20 percent market share in the conventional bunkering business while it looks to expand its supply of alternative fuels to meet the future needs of the industry.
In the best of times, the global shipping network is extraordinarily complex. Hundreds of ports in hundreds of countries serve tens of thousands of commercial vessels. Yet through capricious weather, political conflicts, multimodal transit delays, and more, the shipping fleet weaves the world together.
Two people have been injured in a lifeboat accident aboard the new polar research vessel RRS Sir David Attenborough, the vessel's operator has confirmed.
A delivery ceremony was held on April 1 at the Brodosplit shipyard in Split, Croatia for the new polar expedition cruise ship Ultramarine. The technologically advanced vessel is the first company-owned cruise ship for the American company Quark Expeditions, a part of the UK Travelopia Group. A pioneer in expedition cruising, Quark plan to offer a new level of luxury for polar expedition.
Long plagued by financial deficits and state budget cuts, the Alaska Marine Highway is considering reefing one of its oldest vessels as it explores ways to reduce costs. Considered a vital service connecting many of the coastal communities of the state, the Marine Highway System, operates with four vessels on its mainline and five more for day boat and shuttle service, while a state commission has been examining its future.
Salvors have been working hard to prepare for a resumption of cutting operations to remove the engine room section of the grounded ro/ro Golden Ray, the latest in a series of giant chunks to be cut off and shipped away for demolition. According to the Brunswick News, the team has been replacing the stud-link anchor chain for the third cut in the series with a stronger length. The previous chain broke during cutting operations, forcing salvors to pause work and move on to the fourth cut in the series while divers re-rigged the equipment for the third cut.
International Seaways, Inc. and Diamond S Shipping Inc., two of the leading tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, announced yesterday that their Boards of Directors have unanimously approved a definitive merger agreement pursuant to which INSW will merge with Diamond S in a stock-for-stock transaction. Subsequent to the merger, INSW and Diamond S shareholders will own approximately 55.75% and 44.25% of the combined company, respectively, using fully diluted share counts as of March 30, 2021.
The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not cover them, industry sources say.
For most of 2020, the LNG shipping market was in a depressed state like many other segments of the global gas industry. LNG export cargoes fell by 0.2% y-o-y in 2020 to reach 5,682 shipments, driven by a slowdown in LNG demand amid the Covid-19 pandemic. The commissioning of various LNG carriers around the world exacerbated that trend. Between the period 2018 and 2020, the market witnessed the record commissioning of LNG carriers, with 134 LNG carriers coming on line, with 41 of those being commissioned in 2020. As a result, at the beginning of 2021, there were over 600 LNG carriers operating in the global market.