Business

23 JAN 2021  The crew of a bulk carrier abandoned by its owner and flag state is staging a hunger strike to call attention to their plight according to the International Transport Workers’ Federation. Desperate to get their back wages and return home the crew turned to this drastic action. …

22 JAN 2021  The largest single shipment of ethane to date departed the terminal in Texas bound for China. The gas, which is a derivative stripped from natural gas, is in strong demand, especially in Asia, where it is used as an alternative to butane and propane by the petrochemical …

21 JAN 2021  Commercial space flight operator SpaceX has purchased two oil rigs from Valaris for conversion into seagoing rocket launch pads, according to multiple reports and court records. Orbital launch trajectories are heavily affected by location, and a sea-based launch site allows the operator to optimize the rocket’s payload …

20 JAN 2021  At this point in the COVID-19 pandemic, seafarers have become all too used to bureaucratic obstacles to crew change. But a different form of inertia has stranded more than 60 bulkers and their crews off the coast of China, where they await resolution to a diplomatic standoff …

19 JAN 2021 Shipowners have limited options to access financing for ship repair, given the capital-intensive nature of vessel repairs also represents a financial risk for shipyards. Typically, a shipowner must fund the entire capital cost of vessel repairs from its own cash resources, although it may in exceptional cases …

18 JAN 2021 A U.S. State Department decision to blacklist Yemen’s Houthi rebel group may interfere with efforts to prevent a massive spill in the Red Sea – and lead to starvation on shore.  On January 10, U.S. Secretary of State Mike Pompeo designated the Iran-backed Houthi rebel group (also …

17 JAN 2021  On Saturday (16TH JAN’21), Iran conducted a test of its medium-range ballistic missiles over the Indian Ocean, landing at least one within 100 miles of the USS Nimitz Carrier Strike Group. At least one other missile landed within 20 miles of a merchant vessel, U.S. Navy officials told …

16 JAN 2021  BW Offshore, a provider of floating production services to the oil and gas industry, is reporting that two workers were killed in a gas accident aboard one of the company’s floating storage vessel off the coast of West Africa. According to a statement from the company, the …

15 JAN 2021  Frank Coles has resigned his post as CEO of ship management firm Wallem Group and will be departing soon, the company announced Friday. The managing director of Wallem Shipmanagement Ltd., John-Kaare Aune, will be taking the helm until a permanent replacement can be found.  “As many will …

14 JAN 2021  With growing calls from manufacturers, retailers and trade associations for governments to increase their oversight and regulations of the global shipping industry, the World Shipping Council issued an analysis in defense of carriers. Citing the unparalleled disruptions to the global supply chain from the pandemic, the trade …