Shipbuilding Faces Uncertain Waters

The global suspension of cruise operations and the reduction in commercial shipping due to the novel coronavirus (COVID-19) have broad ramifications for many business sectors, including the shipbuilding industry. Worldwide, shipbuilders are struggling to maintain their businesses while uncertain over the implications of the current global crisis.

Shipyards working with the world’s navies have mostly been deemed “essential businesses” exempting them from the public safety directives.  Newport...

https://www.maritime-executive.com/article/shipbuilding-faces-uncertain-waters

Rystad: Global Downturn Hits Renewables

Facing a global demand shock from the coronavirus outbreak, the oil and gas industry is preparing for a deep and sustained hit to its bottom line. According to energy consultancy Rystad, the booming wind and solar power infrastructure industry will also take a hit this year, but for a different reason – the effects of rapidly changing foreign exchange rates. 

Rystad predicts that forecast growth in newly-commissioned solar and wind projects will be wiped out for 2020 and cut by an additional 10...

https://maritime-executive.com/article/rystad-global-downturn-hits-renewables

Fed balance sheet tops $5 trillion for first time as it enters coronavirus war mode

The U.S. Federal Reserve’s balance sheet soared past $5 trillion in assets for the first time this week as it scooped up bonds and extended loans to banks, mutual funds and other central banks in its unprecedented effort to backstop the economy in the face of the global coronavirus pandemic. The...

https://www.hellenicshippingnews.com/fed-balance-sheet-tops-5-trillion-for-first-time-as-it-enters-coronavirus-war-mode/

Japanese refiners prepare to keep products supply steady amid talk of Tokyo lockdown

Japanese refiners are preparing to maintain their supply of oil products and refining operations even if Tokyo imposes a citywide lockdown to combat a spike in coronavirus cases, company and industry officials said Friday. The Japanese refiners’ readiness to ensure their stable oil products supply...

https://www.hellenicshippingnews.com/japanese-refiners-prepare-to-keep-products-supply-steady-amid-talk-of-tokyo-lockdown/

100 Years Ago: The Dawn of U.S. Coast Guard Aviation

100 Years Ago: The Dawn of U.S. Coast Guard Aviation

[By John Moseley and William Thiesen]

The Naval Appropriation Act of 1916 provided the authorization, but not the funding, for 10 Coast Guard air stations. These air stations were to be located along the coasts of the Atlantic, Pacific, Great Lakes and Gulf of Mexico. On March 22, 1917, the first Coast Guard aviators graduated from Pensacola Naval Aviation Training School. Lieutenant Elmer Stone became Coast Guard Aviator #1 and Naval Aviator #38, and other Coast Guard aviators would follow.

On...

https://maritime-executive.com/article/100-years-ago-the-dawn-of-u-s-coast-guard-aviation