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☆ Foremost Group CEO Angela Chao was intoxicated during fatal car accident in Texas pond: police
▼ + stars: | 2024-03-20 | by ( Dan Mangan | ) www.cnbc.com time to read: +6 min

A toxicology report later showed that Chao had a blood-alcohol concentration of .233, the Blanco County Sheriff's Office said in its report. Chao drowned after friends and rescue workers tried without success to get the 50-year-old shipping executive out of the submerged vehicle. "Chao, who is still on the phone with Keinan, tells Keinan in a [calm] voice her feet are under water," the report said. "Chao told Keinan the water was rising and she was going to die, and said, 'I love you' to Keinan prior to the vehicle going under water." Both deputies entered the pond and tried repeatedly to locate Chao through the back door, "but were unable to," the report said.

Persons: Angela Chao, Pitbull, Chao, Mitch McConnell, Elaine Chao, Tesla, Jim Breyer, Breyer, Amber Landeau, Kienan, Keinan, Victoria Garcia, Victoria, Heela Yang Tsuzuki, One, James Chao, Bruce Wasserstein Organizations: U.S . Labor, Transportation, Blanco County Sheriff's, Ninth, Academy Museum of Motion Pictures, Harvard Business School, Rescue, Texas Rangers, FBI, Blanco County Sheriff's Office, American Bureau of Shipping Council, Harvard Business School's, Dean's Advisors, Metropolitan Opera, National Basketball, Boston Celtics, Facebook, Walmart, Marvel Entertainment, News Corp, Dell Locations: Los, Beverly Hills, Los Angeles , California, Johnson City, Austin, Ky, Texas, Blanco County, New York, Dubai

☆ Shipping CEO Angela Chao, sister of former Cabinet member Elaine Chao, dies in car crash
▼ + stars: | 2024-02-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Angela Chao, CEO of the shipping company the Foremost Group and sister of former US cabinet secretary Elaine Chao, was killed in a car crash in Texas on Sunday, according to a spokesperson for her company. Angela Chao, 50, had been CEO of the shipping company since 2018, assuming the role from her father, James S.C. Chao, who had founded it in 1964. “Angela Chao was a formidable executive and shipping industry leader, as well as a proud and loving daughter, sister, aunt, wife and mother. She was also a precocious youngster, learning about the shipping industry at an early age,” said the companies’ statement. Elaine Chao is the wife of Senate Minority Leader Mitch McConnell.

Persons: Angela Chao, Elaine Chao, James S.C, Chao, Michael Lee, Smith Barney, Morgan Stanley, “ Angela Chao, ”, TradeWinds, “ Angela, Presisdent George W, Donald Trump, Mitch McConnell Organizations: New, New York CNN, Foremost, Harvard, American Bureau of Shipping Council, Harvard Business School’s, Dean’s Advisors, Metropolitan Opera, Chairman’s, Metropolitan Museum of Art, Museum of Contemporary Art, Shanghai Mulan Education, Asian American Foundation, Asian Americans, Pacific Islanders Locations: New York, Texas, Austin , Texas, Los Angeles, Shanghai

☆ Self-navigating ships could change the shipping industry. Here are the companies poised to benefit
▼ + stars: | 2024-02-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

Worldwide, the autonomous ships market reached $4.13 billion in 2022, and is forecasted to grow to $10.1 billion in 2032, according to Emergen Research . Avikus said this journey marked the first time autonomous navigation successfully enabled a large vessel to complete a trip over 10,000 kilometers. HiNAS 2.0 deployed a level-three autonomous navigation system, meaning that human intervention is only deployed in an emergency situation. The success of the HiNAS 2.0 and Prism Courage journey marked a foray into greater commercialization and implementation of autonomous ship navigation technology. The company is aiming for its fully autonomous ship technology to reach full-scale commercialization by 2025.

Persons: Patrick Ryan, Covid, Courage, Avikus, Carol Schleif, Rudy Negenborn, — Ryan, Ryan, BMO's, Morgan Stanley, Ravi Shanker, Shanker, Hunt, C.H, Robinson, Negenborn Organizations: Research, American Bureau of Shipping, Hyundai, Yara International ASA, Yara, BMO Family, Delft University of Technology, Moeller, Maersk, Yara International, Mitsui, Mitsui O.S.K, Royce, Shipbuilders, Expeditors International Locations: Covid, Avikus, Freeport, of Mexico, Panama, Korea, Red, Suez, U.S, Danish, American, ADRs, Japan

All three Aframax-sized tankers discharged Russian Sokol crude in India in September while two of them made the trip in October, the data showed. One trader also said India may seek supply from the Mediterranean and North Sea to replace Russian Sokol. A spike in global prices led to Russian oil being sold at above the price caps imposed by western nations of $60 a barrel. The three vessels last year obtained safety certification from the Indian Register of Shipping (IRClass), according to its website. Sokol crude is produced at the Sakhalin-1 project, managed by a Rosneft subsidiary after the exit of ExxonMobil (XOM.N).

Persons: Dado Ruvic, IRClass, Sokol, India's ONGC Videsh, Florence Tan, Muyu Xu, Nidhi Verma, Jacqueline Wong, Raju Gopalakrishnan, Sharon Singleton Organizations: REUTERS, Sokol, Washington, Indian Oil Corp, Liberian, Ligovsky, Treasury Department, Russian Sokol, IOC, Indian Register of Shipping, Oil Tanker, Sun Ship, American Bureau of Shipping, ExxonMobil, Natural Gas Corp, Sakhalin Oil, Gas Development, Thomson Locations: SINGAPORE, DELHI, LSEG, U.S, Washington, Moscow, Ukraine, Kazan, India, North, Gujarat, Dubai, London, Sakhalin, Singapore, New Delhi

☆ Titan submersible: What's next in the search for the imploded submersible?
▼ + stars: | 2023-06-24 | by ( Zoe Sottile | ) edition.cnn.com time to read: +10 min

The discovery led the US Coast Guard to announce the ship likely imploded, killing all five passengers aboard. The Odysseus 6 discovered debris from the Titan submersible about 1,600 feet from the wreckage of the Titanic on Thursday, according to the US Coast Guard. All five are presumed dead after the “catastrophic implosion” of the submersible, according to the US Coast Guard. On Friday, Coast Guard Rear Adm. John Mauger said, “I don’t have an answer for prospects at this time” when asked about recovering remains. A Coast Guard official said Thursday that authorities are discussing how an investigation would unfold since the implosion took place in international waters.

Persons: Paul Hankins, ”, Tom Maddox, “, John’s, Shahzada, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, John Mauger, ” Aileen Marty, CNN’s Anderson Cooper, ” OceanGate, Mauger, Rush, What’s, OceanGate’s, David Lochridge, William Kohnen, OceanGate, classing, ” Rush, David Pogue, don’t, Don’t Organizations: CNN, Titan, US Coast Guard, Research Services, Coast Guard, Forensic Investigators, Deep Energy, Stockton Rush, OceanGate Expeditions, Florida International University, Maritime Horizon Services, Maritime Horizon, Navy, ”, Authorities, Canada, Transportation, Board of Canada, Transportation Safety Board of Canada, TSB, Canadian, Twitter, National Transportation Safety, Marine Technology, American Bureau of Shipping, Lloyd’s, Rush Locations: Canada, St, British, French, Newfoundland, John’s, Labrador

Guillermo Söhnlein, who co-founded OceanGate with Stockton Rush in 2009, left the company in 2013, retaining a minority stake. Rush was piloting the Titan submersible on the trip that began on Sunday. He was very keenly aware of the risks of operating in the deep ocean environment, and he was very committed to safety," Söhnlein told Reuters. Questions about Titan's safety were raised in 2018 during a symposium of submersible industry experts and in a lawsuit by OceanGate's former head of marine operations, which was settled later that year. The Titan submersible, operated by OceanGate Expeditions to explore the wreckage of the sunken SS Titanic off the coast of Newfoundland, dives in an undated photograph.

Persons: Guillermo Söhnlein, Rush, Stockton, I'd, Söhnlein, OceanGate's, OceanGate, let's, David Latona, Aislinn Laing, Edmund Blair Organizations: OceanGate Expeditions, Stockton Rush, Reuters, REUTERS, American Bureau of Shipping, Thomson Locations: MADRID, Barcelona, Newfoundland

June 22 (Reuters) - Movie director and submersible maker James Cameron said on Thursday he wishes he had sounded the alarm earlier about the submersible Titan that imploded on an expedition to the Titanic wreckage, saying he had found the hull design risky. He is part of the small and close-knit submersible community, or Manned Underwater Vehicle (MUV) industry. I wish I'd spoken up, but I assumed somebody was smarter than me, you know, because I never experimented with that technology, but it just sounded bad on its face," Cameron told Reuters in a Zoom interview. The sub imploded," Cameron said. The five who died mark the first deep-sea fatalities for the industry, Cameron said.

Persons: James Cameron, Cameron, Oscar, OceanGate, We've, Rollo Ross, Daniel Trotta, Leslie Adler Organizations: Triton Submarines, Vehicle, Reuters, American Bureau of Shipping, U.S . Coast Guard, Navy, Wall Street, Thomson Locations: U.S

[1/2] The Titan submersible, operated by OceanGate Expeditions to explore the wreckage of the sunken SS Titanic off the coast of Newfoundland, dives in an undated photograph. Moreover, they say the tragedy of the Titan submersible that imploded during its expedition to the wreckage of the Titanic was an outlier, given that the maker of the vessel opted against certifying the vessel, defying industry convention. Industry experts say they were the first known fatalities in more than 60 years of civilian deep-sea submergence. While acknowledging the loss of life aboard the Titan, Ketter said "the facts are the facts" when it came to the experimental path OceanGate chose to take. "It's not that the regulations would be irrelevant, but they probably wouldn't be the biggest forcing function on the industry," Manley said.

Persons: James Cameron, Oscar, Cameron, OceanGate, Will Kohnen, Kohnen, Rush, John Mauger, Ofer Ketter, Ketter, Justin Manley, Manley, Brad Brooks, Daniel Trotta, Stephen Coates Organizations: OceanGate Expeditions, REUTERS, Titan, OceanGate Inc, Everett, Triton, Vehicle, American Bureau of Shipping, Marine Technology, Stockton Rush, . Coast Guard, Marine Technology Society, Thomson Locations: Newfoundland, Everett , Washington, Costa Rica

[1/2] The Titan submersible, operated by OceanGate Expeditions to explore the wreckage of the sunken SS Titanic off the coast of Newfoundland, dives in an undated photograph. Industry experts say they were the first known fatalities in more than 60 years of civilian deep-sea submergence. But even as industry leaders braced for increased scrutiny, they said it was difficult to forecast what sort of changes may come. While acknowledging the loss of life aboard the Titan, Ketter said "the facts are the facts" when it came to the experimental path OceanGate chose to take. "It's not that the regulations would be irrelevant, but they probably wouldn't be the biggest forcing function on the industry," Manley said.

☆ Analysis: Titanic sub victims' families could still sue despite liability waivers
▼ + stars: | 2023-06-22 | by ( Jack Queen | ) www.reuters.com time to read: +4 min

June 22 (Reuters) - Liability waivers signed by passengers on a submersible lost at sea during a dive to the Titanic wreck may not shield the vessel's owner from potential lawsuits by the victims' families, legal experts said. The Titan submersible vanished on Sunday roughly two hours into its dive and was found in pieces on the ocean floor after what the U.S. Coast Guard said on Thursday was a "catastrophic implosion" of its pressure chamber. The passengers, who paid as much as $250,000 each for the journey to 12,500 feet (3,810 meters) below the surface, are believed to have signed liability waivers. If OceanGate were to fail in such a case, families would be free to file negligence or wrongful death lawsuits. Reporting by Jack Queen; Editing by Amy Stevens and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: OceanGate, ”, Matthew D, Shaffer, Joseph Low of, David Lochridge, Jack Queen, Amy Stevens, Daniel Wallis Organizations: U.S . Coast Guard, CBS, OceanGate Expeditions, Reuters, American Bureau of Shipping, Thomson Locations: Texas, Joseph Low of California, Everett , Washington, Washington

But Titan, the lost submersible from the company OceanGate, is a technological maverick based on novel concepts that differ from standard designs. “I’ve had three people ask me about making a dive on it,” he said in reference to the lost submersible. Private vessels — those used on superyachts, exploratory craft, tourists jaunts — are not formally regulated by any governmental or intergovernmental agency. Nor do they meet the rigorous standards that are applied to deep-sea craft used by the United States Navy and other government agencies. “We are proud that every submersible delivered remains in active service and certified to its original design depth,” it says on the company’s website.

Persons: ”, Bruce H, Robison, Alfred S, McLaren, Navy submariner, “ I’ve, ‘, OceanGate, submersibles, jaunts, Jennifer, Dr Organizations: Aquarium Research, Explorers Club of New, United States Navy, Lloyd’s, American Bureau of Shipping, ” Triton, Triton Locations: Monterey, California, Navy, Explorers Club of New York City, British, Everett, Wash, Houston, American

☆ The company behind the missing submersible thanked Elon Musk's company Starlink prior to the disastrous expedition. He hasn't said a word about the mission on Twitter.
▼ + stars: | 2023-06-21 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

OceanGate Expeditions said that it uses Elon Musk's Starlink for its internet. It is unknown if Starlink played any role in the Titan's disappearance or loss of communications. the official OceanGate Expeditions Twitter wrote. The official Starlink Twitter account later liked the tweet. It is also unclear if SpaceX, the company behind Starlink, and OceanGate, have any financial or business ties.

Persons: Elon Musk's, Starlink, hasn't, —, David Pogue, Pogue, Musk, OceanGate Organizations: OceanGate Expeditions, Service, Expeditions, Titan, Canadian, US Coast Guard, Expeditions Twitter, Twitter, SpaceX, American Bureau of Shipping, CBS, Starlink Locations: OceanGate, Starlink, Rwanda

☆ Safety concerns about missing Titan vessel voiced by former OceanGate employees years ago
▼ + stars: | 2023-06-21 | by ( Celina Tebor | ) edition.cnn.com time to read: +7 min

Lochridge worked as an independent contractor for OceanGate in 2015, then as an employee between 2016 and 2018, according to court filings. Court filings from the company indicate there was additional testing after Lochridge’s time at OceanGate, and it’s unclear whether any of his concerns were addressed as the vessel was developed. He said more concerns were raised by contractors and employees during his time at OceanGate, and Rush became defensive and shied away from answering questions during all-staff meetings. In 2022, the legal representative updated the Virginia court on OceanGate’s expeditions in another court filing. “OceanGate decided to cancel the second mission for repairs and operational enhancements” after the vessel “sustained modest damage to its external components,” it reads.

Persons: David Lochridge, Lochridge, Stockton Rush –, “, Rush, OceanGate, of Virginia –, ” Kevin Williams, “ OceanGate, “ Classing Organizations: CNN, US Coast Guard, OceanGate, Stockton Rush, Titan, Coast Guard, U.S, Eastern, of, University of Washington’s, Physics Laboratory, University of Washington, American Bureau of Shipping, Lloyd’s Locations: Cape Cod , Massachusetts, OceanGate, of Virginia, Virginia

☆ From giant kites to foldable wings, here's what container ships could look like by 2050 as companies race to decarbonize their supply chains
▼ + stars: | 2022-11-23 | by ( Hannah Towey | ) www.businessinsider.com time to read: +6 min

Shipping giants are racing to find scalable green alternatives to gas-guzzling container ships. Other shipping giants are betting big on green methanol fuel derived from agricultural waste. Courtesy of VeerBut the real challenge, Fagerheim said, is convincing clients to get onboard with the boat's slower transit time compared to a traditional container ship. By comparison, conventional container ships can handle loads of over 38,000 tonnes. ©PIRIOU / courtesy of TransOceanic Wind TransportBut as more shoppers prioritize sustainability, some big name brands are pledging to use sustainable cargo ships once the designs become a reality.

REUTERS/Carlos Garcia Rawlins/File PhotoHOUSTON, Nov 9 (Reuters) - A grounded oil supertanker under U.S. Treasury Department sanctions being refloated in Indonesia is filled with Venezuelan fuel, according to vessel monitoring services. Treasury's Office of Foreign Assets Control last week imposed sanctions on the stranded tanker, Young Yong, for its part in an international oil smuggling network that Washington said supports Hezbollah and Iran's Quds Force. Both tankers had departed between late July and early August carrying fuel oil supplied by Venezuela's state-run oil firm PDVSA, according to internal company documents seen by Reuters and TankerTrackers.com, which confirmed the vessels' identities. The Panama-flagged Eagle Brenda, identified on PDVSA shipping schedules as "Eagle I," also carried some 1 million barrels of Venezuelan fuel oil, the documents showed. The tanker was in Venezuelan waters at least twice since last year, where it loaded Venezuelan crude and fuel for exports, according to PDVSA's schedules and TankerTrackers.com.

☆ I captain a charter yacht that costs $195,000 a week. I've experienced some pretty jaw-dropping moments working with wealthy clientele.
▼ + stars: | 2021-08-12 | by ( Jamie Killin | ) www.businessinsider.com time to read: +5 min

He's the captain of the Amarula Sun, a 50-meter yacht that starts at $195,000 a week to charter. My passion for the ocean and yachts is what made me pursue a career as a captain. Courtesy of Fraser YachtsAmarula Sun is a 50-meter yacht that I currently run and have managed for the last eight years. It also has an extensive toy line-up — making it an action-packed charter yacht and one of the best in the industry. The owners lease it to Fraser Yachts, who then charters it out to people going on vacation — with the cost starting at $195,000 per week.

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