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More ships and shipping firms have been added to America’s lengthy list of sanctions relating to Iran. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has added many more companies to its Iran sanctions list including Qingdao-based Global Marine Ship Management, Shanghai Xuanrun Shipping Co, Vietnamese owner Golden Lotus, and Dubai-based owner …
https://splash247.com/us-adds-more-asian-shipping-firms-to-its-iran-sanctions-list/
https://splash247.com/us-adds-more-asian-shipping-firms-to-its-iran-sanctions-list/Nearly two years on from this century’s most famous shipping accident, and court cases continue to swirl around the ’s grounding and blocking of the Suez Canal. A court in London is hearing a case at the moment brought about by SMIT, a salvage firm belonging to Royal Boskalis Westminster. The salvage company is arguing …
https://splash247.com/ever-givens-salvors-seek-greater-payout-in-court/
https://splash247.com/ever-givens-salvors-seek-greater-payout-in-court/Another shuttered Chinese shipyard is looking to reactivate amid a period where the global ship orderbook is swelling. Jinhai Intelligent Manufacturing, formerly called Jinhai Heavy Industries, is seeking to rent out its yard to a fellow Chinese shipbuilder. Zhejiang-based Jinhai was saddled with huge debts racked up by its parent HNA Group. It last delivered …
https://splash247.com/another-chinese-yard-attempts-reactivation/
https://splash247.com/another-chinese-yard-attempts-reactivation/State-run Korea Development Bank and Korea Ocean Business Corp are now proceeding with the privatisation of HMM, South Korea’s flagship carrier. The two companies own around 40% of HMM, which was bailed out by the state seven years ago during a container downturn. The two firms are in the process of selecting a consulting group …
https://splash247.com/privatisation-process-gets-underway-at-hmm/
https://splash247.com/privatisation-process-gets-underway-at-hmm/The “big ones are on the move”. Taking to Twitter yesterday, Lars Barstad, CEO of tanker giant Frontline, noted the “quite amazing” US oil exports by VLCC slated for March. Citing data from Kpler, US oil exports to East Asia this month are set to be 56% higher than February, and three times the 2022 …
https://splash247.com/big-ones-on-the-move-vlcc-armada-takes-record-volumes-of-us-crude-exports/
https://splash247.com/big-ones-on-the-move-vlcc-armada-takes-record-volumes-of-us-crude-exports/Cabling contractors NKT of Denmark and Italy’s Prysmian have emerged as winners of a large tender launched by Dutch-German transmission grid operator TenneT for work on connection projects that will link upcoming Dutch offshore wind farms to the mainland grid. Under the contracts, the companies will install five 525kV cross-linked polyethylene (XLPE) HVDC (high voltage …
https://splash247.com/nkt-and-prysmian-split-multi-billion-dollar-dutch-offshore-wind-cabling-deal/
https://splash247.com/nkt-and-prysmian-split-multi-billion-dollar-dutch-offshore-wind-cabling-deal/DOF Subsea has secured new deals worth combined more than $35m for two of its vessels in Brazil. Petrobras has exercised an option for the diving support vessel . The extension will see the 2007-built DSV utilised for the remotely operated vehicle (ROV) and diving services until February 2024 in direct continuation with the current …
https://splash247.com/dof-subsea-picks-up-35m-in-vessel-contracts-off-brazil/
https://splash247.com/dof-subsea-picks-up-35m-in-vessel-contracts-off-brazil/Australian OSV operator MMA Offshore has won three contracts worth a combined A$30m ($20.1m) to support offshore wind farm developments in Taiwan during 2023. The three vessel contracts are for a total of 370 days, with options for an additional 180 days and a potential revenue of approximately A$15m ($10.1m). The 2016-built MMA Pinnacle will …
https://splash247.com/mma-offshore-scores-20m-taiwanese-wind-hat-trick/
https://splash247.com/mma-offshore-scores-20m-taiwanese-wind-hat-trick/Canadian bulk carrier operator Fednav has sold its marine terminal business to Logistec Stevedoring, a subsidiary of fellow Logistec Corporation, for $105m. The deal incorporates Canadian and US terminal business, including Federal Marine Terminals and the logistics division, Fednav Direct. Fednav’s division has operated terminal facilities at ports in Canada and the US for over …
https://splash247.com/fednav-sells-terminals-division/
https://splash247.com/fednav-sells-terminals-division/Dubai-headquartered terminal operator DP World has announced a $38m investment to expand and modernise its facilities located on the left bank of Brazil’s Port of Santos. The investment is expected to see an increase in annual movement capacity from 1.2m teu to 1.4m teu and an expansion of the quay from 1,100 m to 1,300 …
https://splash247.com/dp-world-to-invest-38m-in-brazils-port-of-santos/
https://splash247.com/dp-world-to-invest-38m-in-brazils-port-of-santos/