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The annual general meeting at US tanker owner International Seaways promises to be feisty as a famous investor makes his feelings known to top management. John Fredriksen, via his investment vehicle Famatown Finance, issued an open letter yesterday, expressing his frustration with the board’s refusal to engage with his firm Seatankers on shareholder value-creation. Fredriksen …
https://splash247.com/fredriksen-renews-attack-on-international-seaways-board/
https://splash247.com/fredriksen-renews-attack-on-international-seaways-board/Meteorologists warn there’s a 90% chance of the El Niño weather phenomenon hitting this year with widespread repercussions for shipping from weaker agricultural output to greater storms in the Pacific and lower drafts along key waterways such as the Panama Canal. Satellite imagery already shows the early warning signs of the wild weather to come …
https://splash247.com/what-the-oncoming-el-nino-weather-phenomenon-will-mean-for-global-shipping/
https://splash247.com/what-the-oncoming-el-nino-weather-phenomenon-will-mean-for-global-shipping/Nearly a quarter of Venezuelan crude exports are now heading to the US, according to a new report from broker Braemar. The easing of US sanctions has seen nearly a quarter of Venezuelan crude head to the US in the first four months of 2023 in a dramatic shift for tanker trading patterns in the …
https://splash247.com/nearly-a-quarter-of-venezuelan-crude-exports-now-heading-to-the-us/
https://splash247.com/nearly-a-quarter-of-venezuelan-crude-exports-now-heading-to-the-us/Extraordinary heatwaves being recorded over the past few weeks in many Asian countries are seeing higher than normal purchases of coal for this time of year. Just four countries now account for over half of all thermal coal imports and more than 70% of global power sector emissions from coal use, new data shows. China, …
https://splash247.com/asian-coal-shipments-soar-as-continent-swelters-from-early-heatwaves/
https://splash247.com/asian-coal-shipments-soar-as-continent-swelters-from-early-heatwaves/EDF Renewables has struck a deal to expand its Irish offshore wind portfolio, adding a pair of floating wind projects to its list. The subsidiary of French utility EDF has formed a 50:50 joint venture with local developer Simply Blue Group to develop the Western Star and Emerald floating offshore wind projects with a combined …
https://splash247.com/edf-renewables-forms-irish-floater-jv/
https://splash247.com/edf-renewables-forms-irish-floater-jv/Houston-based offshore energy services player Helix Energy Solutions has landed a significant decommissioning contract in the US Gulf of Mexico set to commence in mid-2023. The company’s subsidiary Helix Alliance will execute the contracts that cover the plug and abandonment of 39 wells, 15 pipelines and seven structures. The Louisiana-based unit will utilise the EPIC …
https://splash247.com/helix-lands-significant-us-gulf-of-mexico-decommissioning-contract/
https://splash247.com/helix-lands-significant-us-gulf-of-mexico-decommissioning-contract/Hong Kong-listed Seacon Shipping has expanded its orderbook with a fresh deal for another newbuild in Japan. The Qingdao-based company has tapped Murakami Hide Shipbuilding to have the 13,500 dwt general cargo vessel delivered by June 2026 for close to $16.8m. In April, the Chinese shipowner and operator contracted Tsuneishi Shipbuilding to build a pair …
https://splash247.com/seacon-adds-to-growing-orderbook/
https://splash247.com/seacon-adds-to-growing-orderbook/Taking inspiration from a whale’s tail, ABB today introduced a new propulsion system concept for the marine industry, with plans to roll out the first prototype in 2025. The new propulsion concept, which mimics the movements of a whale tail, features a main electric motor that powers a large wheel rotating at a moderate 30-80 …
https://splash247.com/whales-tail-inspired-propulsion-set-for-2025-debut/
https://splash247.com/whales-tail-inspired-propulsion-set-for-2025-debut/Norway’s Grieg Maritime Group has contracted CSSC-affiliated Huangpu Wenchong Longxue yard for up to four ammonia-ready 82,300 dwt open hatch vessels. No price has been revealed for the order, which includes two firm vessels with an option for a further pair. The first of the four vessels will deliver in the spring of 2026, with …
https://splash247.com/grieg-maritime-signs-for-up-to-four-ammonia-ready-open-hatch-newbuilds/
https://splash247.com/grieg-maritime-signs-for-up-to-four-ammonia-ready-open-hatch-newbuilds/Inspections of Norway's offshore gas pipelines after the Nord Stream blasts found nothing suspicious, an executive at energy major Equinor told Reuters, in the first official word on the security sweep.However, risks remain after last year's…
https://www.marinelink.com/news/europes-biggest-gas-supplier-says-clear-505485
https://www.marinelink.com/news/europes-biggest-gas-supplier-says-clear-505485