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Maritime News

Venezuela Oil Sector Hit by Loss of Its Widest US License

Venezuela Oil Sector Hit by Loss of Its Widest US License

8 hours ago
Venezuela's loss of a key U.S. license that allowed it to freely export and increase investment in its oil sector will hit the volume and quality of its crude and fuel sales while prompting a flurry of requests for individual U.S deal authorizations.U.S. officials had warned that absent progress by President Nicolas Maduro on implementing an electoral roadmap agreed last year, the U.S. would not renew license 44, which since October had eased oil sanctions in place for the last five years.On Wednesday, the Treasury gave companies 45 days to wind down pending transactions under a more restrictive license.
US Riles China with Shipbuilding Probe

US Riles China with Shipbuilding Probe

11 hours ago
The United States has launched an investigation into alleged unfair practices within China's shipbuilding and maritime industries, drawing ire from Chinese officials.The probe was launched Wednesday by U.S. Trade Representative Katherine Tai in response to a petition filed by five national labor unions accusing China of using "non-market policies that are far more aggressive and interventionist than any other country" to obtain dominance over the global shipbuilding, maritime and logistics sector."The American commercial shipbuilding industry is a shell of its former self. . .
Houthis Conduct 'Operations' in Indian Ocean, Leader Says

Houthis Conduct 'Operations' in Indian Ocean, Leader Says

12 hours ago
The leader of Yemen's Iran-aligned Houthis, who have been attacking shipping in the Red Sea, said on Thursday the group had carried out "operations" in the Indian Ocean and towards southern Israel.Abdul Malik al-Houthi's comments made clear that the Houthis have acted on earlier threats to expand operations to the Indian Ocean region and attacks towards southern Israel.The Houthis have repeatedly launched attacks towards the southern Israeli port of Eilat in what they have described as a direct confrontation with Israel.
Marine News' 2024 US Shipbuilding Report

Marine News' 2024 US Shipbuilding Report

13 hours ago
If nothing else, building vessels in the U.S. is a complicated business.In a session on the domestic shipbuilding marketplace, at Marine Money’s late-November 2023 conference held in New Orleans, Ben Bordelon, president and CEO of Bollinger Shipyards (with more than a dozen facilities, in Mississippi and Louisiana), described his company’s architecture as a “three-legged stool approach: commercial newbuilds, government newbuilds and repair/conversion capabilities”.On the same panel, moderated by Roy Bleiberg, who handles Business Development, North America, for ABS, Joey D’Isernia, the chairman and CEO of Eastern Shipbuilding Group (with three yards in the Florida Panhandle)
Norway's Myklebust Verft to Build World's Largest Hydrogen Ferries

Norway's Myklebust Verft to Build World's Largest Hydrogen Ferries

15 hours ago
Norwegian shipyard Myklebust Verft has been selected to build a pair of innovative hydrogen-powered passenger ferries ordered by Norwegian transport company Torghatten Nord.The design, produced by The Norwegian Ship Design Company for operations in the challenging waters of the Vestfjordstrekninga fjord in the Arctic Circle, received approval in principle (AIP) in August 2022 from Lloyd's Register, who has signed on to class the first-of-their-kind vessels.At 117 meters long with a 120-car capacity, the duo will be the world’s largest hydrogen-powered ships, operating on green hydrogen at least 85% of the time.