Author: Rigs & Barge World
These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. Alliance Pharma, a British healthcare group, has accepted DBAY Advisors’ final cash…
North Korea has unveiled what it claims to be its first nuclear-powered submarine, raising questions about whether it received technical assistance from Russia in exchange for the vast quantities of ammunition that Pyongyang has shipped off to the front in Ukraine. State media outlet KCNA released photos of what it claims to be a “nuclear powered strategic guided missile submarine,” or SSBN. A South Korean weapons expert, Moon Keun-Sik, told AP that it appears to be twice as large as previous North Korean subs and may have capacity for up to 10 missiles. This is enough to be “absolutely…
The governments of South Korea and Japan plan to use maritime trade as a bargaining chip to avoid the unfortunate fates of Canada and Mexico, the first two U.S. allies hit by the White House’s tariff proposals. Both Japan and South Korea have shown interest in a big-ticket LNG export project from the state of Alaska, and Korea is also pitching its shipbuilding capabilities as a way to build up American maritime power. South Korea’s trade and industry minister, Ahn Duk-Geun, met last week with U.S. Commerce Secretary Howard Lutnick to talk about cooperation on shipbuilding and tech industry…
The governments of South Korea and Japan plan to use maritime trade as a bargaining chip to avoid the unfortunate fates of Canada and Mexico, the first two U.S. allies hit by the White House’s tariff proposals. Both Japan and South Korea have shown interest in a big-ticket LNG export project from the state of Alaska, and Korea is also pitching its shipbuilding capabilities as a way to build up American maritime power. South Korea’s trade and industry minister, Ahn Duk-Geun, met last week with U.S. Commerce Secretary Howard Lutnick to talk about cooperation on shipbuilding and tech industry…
The International Oil Pollution Compensation Funds (IOPC Funds) has offered its view on the collision between the Solong and Stena Immaculate off the north-east coast of the UK on March 10, saying:“Whilst the United Kingdom is a 1992 Fund Member State and the Stena Immaculate appears to be a ship…
Britain’s top ports operator has announced plans to install the largest floating solar project in the country at the Port of Barrow, north of Liverpool on England’s eastern coastline. The port has submitted planning documents for the “Barrow EnergyDock,” which will be located in the Cavendish Dock, a former harbor basin and shipbuilding area that is now an enclosed reservoir. The floating station will generate up to a peak of 40 MW worth of power for customers in the advanced manufacturing sector (BAe Systems’ submarine manufacturing plant). It would also benefit the port by providing lower-cost electricity, according to…
Hapag-Lloyd has become the latest of the major carriers to move forward with a strategy to expand its shoreside operations by growing its terminal portfolio. After launching an independent terminal company in 2023, Hapag-Lloyd reports it has acquired a controlling interest in one of the independent terminals in Le Havre, France. Hanseatic Global Terminals, a wholly owned subsidiary based in Rotterdam, was announced in July 2024. Hapag said at the time the aim was to increase operational efficiency and promote sustainable growth that will benefit customers and partners worldwide. It says that terminal and infrastructure investments represent a crucial component…
The Royal Navy’s maritime security reporting arm has received multiple reports of GPS jamming in the Strait of Hormuz, a periodic hotspot for interference. Though not as frequent as it is in the Baltic, GPS disruption has occurred in the Strait before, and have previously been linked to Iranian actors. The service’s UK Maritime Trade Operations (UKMTO) office announced Monday that it has received reports from several vessels that have encountered GPS interference in the Strait of Hormuz. The disruptions lasted several hours, affected navigation systems, and required vessels to rely on traditional methods of navigation. “Masters who experience…
Energy service company and tanker operator AET provided details on its planned conversion of one of its support vessels to create a hybrid electric vessel with the world’s longest range. Based in Galveston, Texas, and a division of Malaysia’s MISC, the company reports one of its existing purpose-built Lightering Support Vessels has been selected for the hybrid conversion project. The company operates a fleet of these vessels reporting it performed more than 15,500 STS transfers making it a market leader in the U.S. Gulf region. It also provides lightering operations in offshore Uruguay and the Brazilian Basin. AET has signed…
The TMS Ship Finance and Trade Conference 2025 brought together global industry leaders, financial experts, and policymakers for transformative discussions on the future of maritime trade, finance, and sustainability. The conference served as a vital platform for addressing key challenges, exploring financial innovations, and advancing sustainability-driven solutions for the maritime sector. The event commenced with a welcome address by Nawal Al-Maghafi, Senior Broadcast Journalist at BBC, who reflected on the implications of the recent U.S. elections on global trade policies. She highlighted the potential shift towards stronger domestic priorities, which could reshape supply chain dynamics, tariff structures, and environmental…