BOURBON GULF LIBERTY 208

The cost of insuring a ship through the Red Sea has more than doubled since the start of September and some underwriters are pausing cover as the risk of attack from Yemen's Houthis on commercial vessels increases, industry sources said.The Iran-backed Houthis first launched aerial drone and missile strikes on the waterway in November. They say they are acting in solidarity with Palestinians under assault in Israel's war on Gaza. In more than 70 attacks, the Houthis have sunk two vessels, seized another and killed at least three seafarers.

Fairbanks Morse Defense (FMD) on Thursday announced it has struck a deal with Rolls-Royce to acquire its naval propulsors and handling business. The acquisition will include a range of propellers and waterjets for naval applications, as well as marine handling systems, which enable the deployment and recovery of manned and unmanned craft, and other cargo, from naval vessels.“When you look at the 150-year history of Fairbanks Morse Defense, you will find a handful of distinctive moments that completely transformed this company.

McDermott and BW Offshore have entered into a collaboration to advance the technical and commercial viability of offshore blue ammonia production aboard a floating production storage and offloading (FPSO) facility.The strategic partnership aims to enable a viable pathway for offshore blue ammonia production, contributing to the global transition to low-carbon energy sources, and reinforcing both companies' commitment to sustainable energy practices.The collaboration will leverage the combined expertise of McDermott and BW Offshore to advance the development of low carbon ammonia production aboard FPSOs, which have the potential to unlock multiple benefits for ammonia production

The Port of Los Angeles reported handling nearly 960,600 Twenty-Foot Equivalent Units (TEUs) in August, marking a remarkable 16% increase compared to the same month last year. This figure represents the busiest month for the port since before the pandemic.With eight months of 2024 complete, the Port of Los Angeles is already 17% ahead of its total container volume from 2023, having processed nearly 1 million additional containers year-to-date.“The American consumer continues to spend and that’s helping to power our economy,” Port of Los Angeles Executive Director Gene Seroka said at a media briefing.

A threatened Oct. 1 strike by dockworkers at ports on the U.S. East Coast and Gulf of Mexico would immediately disrupt the flow of goods in the country, the North America chief executive of French container carrier CMA CGM said on Wednesday.The International Longshoremen's Association union represents 45,000 workers at 36 ports including New York/New Jersey, Houston and Savannah, Georgia. The union has vowed to stop work if it does not have a new labor agreement in place when the current six-year contract expires on Sept. 30 at midnight."The moment you close the door, things begin to back up," George Goldman, CMA CGM's North America chief, said on a webcast hosted by the Port of Los Angeles.