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The United States on Tuesday sanctioned a network of oil trading firms, individuals and vessels that have helped Venezuelan state-run oil company PDVSA sell crude mainly to Asia despite Washington's sanctions on the South American nation.The measure targets a network that the U.S. Treasury Department says helped the administration of President Nicolas Maduro, whose 2018 re-election Washington called a sham, broker the sale of hundreds of millions of dollars in Venezuelan oil."Those facilitating the illegitimate Maduro regime's attempts to circumvent United States sanctions contribute to the corruption that consumes Venezuela," Treasury Secretary Steven Mnuchin said in a news release.
Cruise operator Royal Caribbean Group said on Tuesday it reached a deal to sell its Azamara brand to private-equity firm Sycamore Partners for $201 million in cash, as it grapples with biting impacts of the COVID-19 pandemic.Sycamore Partners will acquire the entire Azamara brand, including its three-ship fleet—Azamara Quest, Azamara Journey and Azamara Pursuit—and associated intellectual property. In conjunction with the transaction, Azamara Chief Operating Officer Carol Cabezas has been appointed President of the brand.
The U.S. Department of Transportation’s Maritime Administration (MARAD) on Tuesday authorized the construction of two additional National Security Multi-Mission Vessels (NSMV), marking a key milestone for one of America's most high-profile shipbuilding programs.The new vessels will replace aging training ships at Maine Maritime Academy in Castine, Maine, and Texas A&M Maritime Academy in Galveston, Texas. MARAD previously authorized the construction of the first two NSMVs, destined for SUNY Maritime College in Bronx, N.Y., and Massachusetts Maritime Academy, in Bourne, Mass., in April 2020.“The NSMV is part of a strategy to bolster maritime education, revitalize U.S.
Drew Marine said it has signed an agreement with ExxonMobil Marine Lubricants to expand the availability of ExxonMobil’s range of high performance lubricants. Drew Marine’s global supply chain will help ensure the availability of Flagship grades, including Mobil SHC Aware, to international vessel operators.The agreement covers a range of ExxonMobil’s synthetic marine industry lubricants. These include specific grades for compressors, hydraulic systems, gears, auxiliary engines and refrigeration plants. With this agreement in place, Drew Marine is now well-positioned to meet the most demanding lubricant applications.
Port Milwaukee finished 2020 with its highest annual cargo volume in the past seven years.Despite the unusual year's historic and unprecedented difficulties, including pandemic- and flooding-related challenges, overall tonnage for the municipal port and the adjacent private docks in Milwaukee Harbor rose more than 5%, led by agricultural exports and handling of cement.“Port Milwaukee’s resilience was on full display in 2020. We overcame flooding resulting from unusually high water levels on Lake Michigan at the start of the year. We also overcame the pandemic’s sustained effect on the economy and on the Port’s essential operations,” said Port Director Adam Tindall-Schlicht.