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US seizes tanker used to avoid North Korea sanctions

U.S. Seizes Oil Tanker Used to Violate Sanctions Against North Korea

Published Jul 30, 2021 4:45 PM by The Maritime Executive

A New York federal court entered a judgment of forfeiture for an oil tanker used as part of a scheme to evade sanctions against North Korea and in the processes violating U.S. law and deceptively using U.S. dollars through unwitting U.S. banks. The U.S. Justice Department has been using seizures with increasing frequency as a tool to enforce sanctions against North Korea as well as Iran. In this case, Cambodian authorities seized a 2,734-ton oil-products tanker, the M/T Courageous, in...

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red crescent beirut

Report: Most of Explosive Cargo Went Missing Before Beirut Blast

Published Jul 30, 2021 4:02 PM by The Maritime Executive

Just ahead of the first anniversary of the Port of Beirut blast, a leaked FBI report estimates that only one-fifth of the cargo involved in the blast actually exploded - indicating that unauthorized removal of the other four-fifths may have saved the city from a far larger disaster.  2,750 tonnes of the explosive substance arrived at the port aboard the vessel Rhosus in 2013, but the FBI's investigators estimated that just 550 tonnes of ammonium nitrate exploded. The remaining 2,200 tonnes are unaccounted for, and...

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Fincantieri rebounds to profitability in 2021

Fincantieri Delivers Third Cruise Ship in July as Profits Rebound

Published Jul 30, 2021 3:51 PM by The Maritime Executive

Fincantieri is continuing its strong rebound after the devastating effects of the COVID-19 pandemic in 2020 and the extended shutdowns across parts of Italy that impacted operations. The shipbuilder announced a return to profitability and an improving outlook as it also delivered the third new cruise completed in July after delivering seven ships from six shipyards in the first half of 2021. Yesterday, July 29, Fincantieri started the handover process for the Rotterdam, a 99,500 gross ton cruise ship completed...

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US offshore wind Atlantic Paciifc coasts

BOEM Moves Ahead with Offshore Winds Projects on Both Coasts

Published Jul 30, 2021 2:34 PM by The Maritime Executive

The United States is working to advance offshore wind projects on both the Atlantic and Pacific coasts in an effort to meet the Biden Administration’s aggressive targets to generate 30 gigawatts of offshore wind energy by 2030. This week, the U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) announced the next steps designed to advance what could become the first wind farms on the West Coast located off California as well as for the first project proposed...

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Offshore

US offshore wind Atlantic Paciifc coasts

BOEM Moves Ahead with Offshore Winds Projects on Both Coasts

The United States is working to advance offshore wind projects on both the Atlantic and Pacific coasts in an effort to meet the Biden Administration’s aggressive targets to generate 30 gigawatts of offshore wind energy by 2030. This week, the U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) announced the next steps designed to advance what could become the first wind farms on the West Coast located off California as well as for the first project proposed...

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Shipbuilding

Fincantieri rebounds to profitability in 2021

Fincantieri Delivers Third Cruise Ship in July as Profits Rebound

Fincantieri is continuing its strong rebound after the devastating effects of the COVID-19 pandemic in 2020 and the extended shutdowns across parts of Italy that impacted operations. The shipbuilder announced a return to profitability and an improving outlook as it also delivered the third new cruise completed in July after delivering seven ships from six shipyards in the first half of 2021. Yesterday, July 29, Fincantieri started the handover process for the Rotterdam, a 99,500 gross ton cruise ship completed...

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Environment

pasig river

Startup Aims to Turn Waterborne Plastic Waste Into Fuel

A UK-based startup is looking to solve two environmental problems with one solution, pulling plastic trash from waterways - where it would normally wind up in the ocean - and turning it into a fuel for ships. Plastic-to-fuel startup Clean Planet Energy has partnered with riverine waste NGO Riverrecycle to build out a combined floating debris to fuel value chain. Riverrecycle is already running offices in seven countries, including Indonesia and the Philippines, where the project will begin. It has...

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Business

basil barge

Did the Bouchard Tug and Barge Auction Achieve the Right Prices?

After several years of legal wrangling in bankruptcy court, most of the marine assets of Bouchard Transportation were sold at auction earlier this month, with the asset purchase agreements to be finalized imminently and the bankruptcy judge formally approving the transfer of ownership. By way of quick introduction, Bouchard was established in 1918 and had been active in Jones Act marine transport of liquid chemical and energy products. It was amongst the oldest and largest shipping companies in the US, a...

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