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Driven by rising operator expenditure on equipment and installation services, the subsea market segment will see a 10% annual compound growth rate from 2024 to 2027 with total spending exceeding $42bn by the end of this period, a new Rystad Energy report suggests. Investment activity in the sector has been strong in South America and …
https://splash247.com/subsea-sector-global-spending-to-go-past-42bn-by-2027/
https://splash247.com/subsea-sector-global-spending-to-go-past-42bn-by-2027/Offshore cable maker Prysmian has won its trade secrets case against its India-based competitor Sterlite Technologies and the Italian firm’s former executive Stephen Szymanski. A South Carolina jury found in favour of Prysmian following a three-week jury trial in the US District Court in Columbia, South Carolina. The jury found that Sterlite was ‘unjustly enriched’ …
https://splash247.com/prysmian-awarded-96m-in-trade-secrets-case-against-sterlite/
https://splash247.com/prysmian-awarded-96m-in-trade-secrets-case-against-sterlite/Malaysian offshore service provider Icon Offshore said on Monday that an explosion occurred on its Icon Amara platform supply vessel which led to two fatalities. The incident on the Icon Amara occurred on August 2 at approximately 10:30 pm local time at the Sapar Alpha platform near Bintulu. The incident resulted in two fatalities and …
https://splash247.com/two-dead-from-explosion-on-icon-offshore-platform-supplier/
https://splash247.com/two-dead-from-explosion-on-icon-offshore-platform-supplier/Singapore’s PSA International has retained its ports crown in the latest annual rankings of global container terminal operators from UK consultancy Drewry. The seven largest terminal operators now handle over 40% of global port throughput on an equity-adjusted basis. Mediterranean Shipping Co (MSC) recorded the strongest growth, with equity teu up by more than 10% …
https://splash247.com/psa-retains-port-crown/
https://splash247.com/psa-retains-port-crown/Turkey’s Yilport will invest $1.6bn in two ports in El Salvador. The investments will go towards tripling the capacity of Acajutla, El Salvador’s largest port, as well as resuscitating the port of La Union, a facility that was completed in 2008 and never opened. Yilport and El Salvador’s Autonomous Port Executive Commission (CEPA) will jointly …
https://splash247.com/yilport-invests-in-el-salvador/
https://splash247.com/yilport-invests-in-el-salvador/Hong Kong-listed Seacon Shipping has cashed in on its second bulk carrier in a month as it continues to gather cash for potential future deals and balance out its fleet portfolio. The Qingdao-based diversified owner and operator has agreed a $32.1m sale of the modern 2019-built ultramax Seacon Athens to Shanghai-based Henxin Ship Leasing. The …
https://splash247.com/seacon-offloads-second-bulker-in-a-month/
https://splash247.com/seacon-offloads-second-bulker-in-a-month/Oslo-based dry bulk operator Lighthouse Navigation has been rebranded as Norwegian Bulk Carriers. The move comes after Norwegian bulker owner Belships took a majority stake of 67% in the company while letting go of similar business, which operates from offices across Asia and Australia, in April this year. Norwegian Bulk Carriers operates between 60 and …
https://splash247.com/belships-outfit-lighthouse-navigation-rebrands-as-norwegian-bulk-carriers/
https://splash247.com/belships-outfit-lighthouse-navigation-rebrands-as-norwegian-bulk-carriers/Ahead of the next session of the Marine Environment Protection Committee (MEPC), scheduled to start at the end of September, proposals are pouring into the International Maritime Organization (IMO). The headline from the global gathering is expected to be the deliberations on some form of carbon levy. Lobby group, the International Chamber of Shipping (ICS), …
https://splash247.com/shipping-gears-up-to-debate-carbon-levies/
https://splash247.com/shipping-gears-up-to-debate-carbon-levies/The Houthis in Yemen have adopted a new tactic which sees them pursuing individual ships across long stretches of the Red Sea. An unidentified ship was attacked by the Houthis three times in the space of 12 hours today. The first attack happened around 115 km south of the Houthi-held port city of Hodeida, the …
https://splash247.com/houthis-pursue-ship-across-the-red-sea/
https://splash247.com/houthis-pursue-ship-across-the-red-sea/Dominion Energy has installed the 50th monopile foundation its the 2.6GW Coastal Virginia Offshore Wind project located 33 miles off the coast of Virginia Beach.The project is on schedule to hit the company's target of 70-100 monopiles set into…
https://www.marinelink.com/news/th-monopile-installed-off-virginia-beach-515904
https://www.marinelink.com/news/th-monopile-installed-off-virginia-beach-515904