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Offshore Energy
Offshore Energy reports that Akrake Petroleum, a subsidiary of Lime Petroleum Holding, is finalizing the hook-up of a mobile offshore production unit and a floating storage and offloading unit at an oil field off the coast of Benin. This field has been inactive since the late 1990s, and the completion of these activities marks a significant milestone.
Splash247
Bruton, a VLCC owner backed by Tor Olav Trøim, is in discussions with China's New Times Shipyard about potentially adding two more vessels to its newbuilding program, as reported by Splash247. This move could increase Bruton's VLCC newbuilding pipeline significantly.
Splash247
MPC Capital, a German asset manager, has partnered with Norwegian investor Morten Astrup's Storm Capital Management to launch a new shipping investment platform, as reported by Splash247. The platform, named MPC Storm Maritime Opportunities (MSO), has achieved a $35 million first close with backing from experienced maritime investors and aims to raise over $70 million.
Splash247
A jury at the Old Bailey in the UK has convicted Russian captain Vladimir Motin of manslaughter by gross negligence after his containership, Solong, collided with the anchored US-flag tanker Stena Immaculate off the Humber, leading to a fatal fire, as reported by Splash247. The incident resulted in the death of tanker crewman Mark Angelo Pernia.
Splash247
A recent trade agreement between the US and India, which reduces American tariffs and restricts India's Russian oil purchases, has caused significant disruptions in tanker markets, as reported by Splash247. The deal has prompted charterers and owners to quickly adjust routes, stems, and bunker plans, despite the legal specifics of the agreement remaining unclear.
Splash247
Costamare Bulkers, a company listed in New York and operating from Monaco, is accelerating its sale of older ships to capitalize on the market before the Chinese New Year, as reported by Splash247. The Gregory Zikos-led firm has been actively engaging in the secondhand market for two consecutive weeks.
Splash247
Splash247 reports that a US federal judge has permitted Ørsted's Sunrise Wind project off Long Island, New York, to continue after being halted by the federal government. This marks the fifth legal victory against former President Donald Trump’s opposition to offshore wind projects.
gCaptain
Japan is expediting its deep-sea rare earth mining efforts to lessen its reliance on China, as reported by gCaptain. The state vessel Chikyu has returned after installing seabed equipment near Minamitori Island in preparation for a testing phase set for 2027.
gCaptain
Federal court decisions have nullified the Trump administration's efforts to stop offshore wind projects along the U.S. East Coast, as reported by gCaptain. The latest ruling supports Ørsted’s Sunrise project, marking a significant win for renewable energy development.
gCaptain
The French navy's new frigate, Amiral Ronarc'h, has docked in Gothenburg, Sweden, as part of efforts to influence a $5 billion defense agreement, as reported by gCaptain. The arrival marks a significant step in the ongoing negotiations between the two nations.
