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☆ China shipyards feast on record LNG tanker orders as South Korea builders are full up
▼ + stars: | 2022-12-12 | by ( Chen Aizhu | ) www.reuters.com time to read: +7 min

Chinese shipyards this year won 45 LNG tanker orders worth an estimated $9.8 billion, about five times their 2021 order values, according to shipping data provider Clarksons Research. By late November, Chinese yards had grown their LNG order books to 66 from 21, giving them 21% of global orders worth around $60 billion. Still, Chinese yards received 19 foreign orders for LNG tankers this year and that number is likely to grow. "Chinese yards have become more attractive because of the South Korean backlog, as well as rising costs," said ICIS analyst Songer. Chinese yards' relationship with GTT also helps, he said.

☆ A massive new cruise ship is set to function as a floating hotel for the Qatar World Cup, and rooms start at $220 a night. Take a look inside.
▼ + stars: | 2022-11-16 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: 1 min

MSC Cruises just launched a new cruise liner called the MSC World Europa. The luxury cruise is currently moored in Doha, Qatar, and is expected to host thousands of fans during the World Cup in November. MSC World Europa cruise ship in Qatar. hasan zaidi/Getty ImagesChantiers de l'Atlantique, one of the world's biggest shipyards, started construction on MSC World Europa in 2019. MSC World Europa is slated to be used as a hotel for fans at the Qatar World Cup from November 19 to December 19.

☆ Ukraine's attack on one of Russia's most important bases shows Putin is losing his grip on the Black Sea
▼ + stars: | 2022-11-03 | by ( Robert Farley | ) www.businessinsider.com time to read: +7 min

Sevastopol is vital to Russian power-projection in the Black Sea, the Mediterranean, and beyond. (The frigate, Admiral Makarov, became the flagship of the Black Sea Fleet upon the sinking of the cruiser Moskva). Moreover, Ukraine's access to Western anti-ship missiles has already made the Black Sea inhospitable for Russian ships. Russia's hold on the Black Sea slipsRussian President Vladimir Putin at a military parade in Sevastopol on May 9, 2014. In the longer-term, Russia's centuries-long grip on the Black Sea may well be slipping away, with potentially huge implications for Russia's role on the international stage.

☆ Photos: Unfinished Superyacht From 2007 up for Auction for $1.5 Million
▼ + stars: | 2022-10-21 | by ( Brittany Chang | ) www.businessinsider.com time to read: 1 min

But to finish the project, its future owner will have to cough up at least $16 million for lower-end finishes, according to estimates from shipyards in Greece and Turkey, Jack Mahoney, a director at Boathouse Auctions, told Insider in an email.

In Spain, six vessels were frozen following sanctions imposed after Russia's invasion of Ukraine in February. The "majority" of the owners are paying their maintenance, crew, docking and insurance fees, a source with knowledge of the matter said. In March, Spain's Prime Minister Pedro Sanchez vowed, when announcing the freezing of one yacht in Spain, to hit Putin's allies "decisively" and "hard". read more read moreProposals by the United States and European Union to sell seized Russian assets and give the proceeds to Ukraine have stalled. In France, five yachts have been frozen.

Ukraine has accused Russia of deploying missiles made by MMZ Avangard against ground targets since Russia launched what it terms its "special operation" on Feb. 24. "Extreme equipment is used on Russian warships," the complaint said, "in communications systems." "It was necessary to use a cover because the Russian company is blacklisted in the U.S.," one of the people familiar with the shipments said. The executive said he had never heard of Extreme or of DEMZ buying Extreme equipment for itself or on behalf of others. Like MMZ Avangard, United Shipbuilding has been listed as a "blocked" entity by the U.S. Treasury since July 2014.

☆ How a remote lagoon and a 'secret weapon' allowed the US Navy to overwhelm Japanese forces during World War II
▼ + stars: | 2022-09-25 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +7 min

In September 1944, the US Navy captured Ulithi Atoll and used it to support the Allied advance. US NavyService Squadron 10 oversaw the rearming, resupplying, and repairing of Navy ships and aircraft, and otherwise supported the war effort's logistical needs. In all, the unit had over 400 vessels, including repair ships, tankers, floating dry docks, crane ships, desalination ships, tugs, floating barracks, and floating workshops. US NavyBy the end of the war, Ulithi was the world's largest naval facility, hosting as many as 617 vessels. An airfield and a high school damaged by Typhoon Maysak on Falalop Island in Ulithi Atoll in December 2015.

☆ Fed up with high gas prices and slow Amazon deliveries? Blame these 2 century-old laws that need to be repealed.
▼ + stars: | 2022-09-13 | by ( Colin Grabow | ) www.businessinsider.com time to read: +12 min

A well-oiled transportation system is vital to keeping the economy humming — especially in a country as large as the United States. Unfortunately, Americans' ability to get resources where they need to go has been crippled by a pair of outdated laws: the Jones Act and the Foreign Dredge Act. As with Jones Act ships, hopper dredges constructed in US shipyards are significantly more expensive than those built abroad. But despite these huge costs, the Jones Act and the Foreign Dredge Act survive largely intact. The Jones Act and the Foreign Dredge Act are just two examples among many, and behind each one lies an entrenched interest group dedicated to its preservation.

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