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...
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...
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...
La Asociación Peruana de Agentes Marítimos (APAM) expresó su total respaldo a las medidas de emergencia dictadas por el Poder Ejecutivo mediante DS 044-2020-PCM, para hacer frente a la pandemia […]
The Paris Memorandum of Understanding on Port State Control (Paris MoU) acknowledges the crisis which the international shipping industry is facing. The Paris MoU is working to help Member Authorities protect the health and safety of our Port State Control Officers and also the seafarers on the...
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...
[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.