Op/Ed: Public Opinion on Nuclear Power has Deep Roots

 

Australia does not have nuclear power stations, and it does not have nuclear weapons.

I remember having lessons and debates on it in high school, many years ago. My favorite science teacher was dead against either use of nuclear technology.

One of the most interesting arguments I remember hearing was that the technology developments that make nuclear power more efficient would also help make nuclear bombs more efficient.

Fiji is much the same as Australia, and it has even ratified the Treaty on the Prohibition of Nuclear Weapons, along with over 70 other nations.

Both Pacific nations, Australia and Fiji share a historical remembrance of France’s 193 nuclear tests conducted between 1966 to 1996 at Moruroa and Fangataufa atolls in French Polynesia.

It wasn’t a hugely popular program for residents of the southern hemisphere. And in New Zealand in 1985, the Greenpeace vessel Rainbow Warrior was bombed by French secret service agents to prevent it from participating in an anti-nuclear protest. One crewmember was killed.

Still times change, technologies develop and new opportunities arise.

This week, Maritime Reporter covered news of a new vessel design by Australian ship design group Seatransport and Houston-based Deployable Energy, in collaboration with Lloyd’s Register.

Using micro modular reactor (MMR) technology, two to five MMRs of 1MWe capacity each would power 73-metre amphibious vessels, designed for emergency response and disaster relief in remote areas. The vessels could operate for 8-10 years without refueling, and they could feed power into the shore grid of affected areas and when docked at port.

The idea is to base these vessels in Fiji as it lies at the center of a number of Pacific nations including Tonga, Samoa and Vanuatu. French Polynesia is a bit further away but not much.

Fiji’s Prime Minister Sitiveni Rabuka is supportive of the idea. He said it could happen as soon as the MMR technology was demonstrated as living up to its cost-saving, emissions elimination and safety goals. At that point, the initial diesel engines would be replaced by an MMR system.

There’s already opposition. Member of Parliament Ketan Lal responded: “Since when has Fiji decided to become a supporter of nuclear power? The Prime Minister is making it sound as if Fiji is ready to adopt nuclear-powered vessels and even supply electricity to communities using this technology.  The question is: Are we even ready? Have we established the necessary safety regulations? Do we have nuclear energy laws? Do we have independent oversight bodies to monitor nuclear safety? Have the people of Fiji, who will be the ones most affected, been consulted?

“For decades, we have been part of global calls to keep the Pacific free from nuclear contamination - from nuclear testing fallout to the current opposition to Japan's dumping of treated nuclear waste.”

In its recent “Fuel for thought nuclear” report, LR highlights that one of the challenges to greater adoption of nuclear power for shipping is public perception and the need to gain a social license to operate.

The report talks about safety, but historical resentment may also run deep.

 

 

Saronic buys Gulf Craft Shipyard to Fast-Track Autonomous Shipbuilding

April 17, 2025

 

Saronic accelerates its growth into autonomous shipbuilding with the acquisition of Gulf Craft, a Louisiana-based shipbuilder with a 60-year history of developing manned and unmanned ships for defense and commercial customers.

Through this acquisition, Saronic gains a strategically located shipyard on the Gulf Coast that will serve as the prototyping and production hub for its medium unmanned surface vessel (MUSV) fleet — starting with Marauder, Saronic’s 150-foot Autonomous Surface Vessel (ASV).

With more than60 years of experience delivering traditional manned ships and unmanned vessels for commercial and defense applications, the acquisition of Gulf Craft provides Saronic with the infrastructure and skilled workforce needed to develop, rapidly iterate, and scale production of Saronic’s MUSVs today and into the future.

“Today marks a significant milestone in Saronic’s expansion into autonomous shipbuilding and lays the foundation for our vision of our larger, next-generation shipyard, Port Alpha,” said Saronic CEO Dino Mavrookas. “We don’t wait — we build for what our customers need, when they need it. While we actively search for a home for Port Alpha, this acquisition gives us the immediate capacity to meet urgent customer needs for larger autonomous vessels and the flexibility to scale to address emerging commercial and defense applications of these advanced systems.”

“The investment of Saronic in Louisiana’s shipbuilding industry will grow our economy, create high-quality jobs, and bolster America’s maritime strength,” said the Honorable Mike Johnson (R-LA), Speaker of the House. “By revitalizing our industrial base right here in Louisiana, we are taking a critical step toward building our own supply chains and countering foreign competitors like China. All of this is essential to our national security. We are grateful to Saronic for their commitment to this industry and our great state.”

The acquisition adds nearly 100 acres to Saronic’s footprint, supporting both immediate MUSV development and production as well as capacity for significant expansion. Saronic plans to invest more than $250 million directly into the shipyard, which will encompass large facility upgrades that will enable it to apply a first-principles approach to shipbuilding. This includes modernizing infrastructure, acquiring new machinery, and updating the facilities while focusing on building a production system engineered for speed, scalability, and quality. These upgrades will support a rapid capacity ramp-up, enabling Saronic to deliver up to 50 unmanned ships per year.

Saronic has retained Gulf Craft’s workforce and expects to create more than 500 new jobs over the next 3–4 years. In addition to bringing on skilled shipbuilders, welders, and electricians, Saronic anticipates creating new roles for engineers, technologists, and naval architects to develop and scale production of its MUSVs.

“Louisiana plays a vital role in the U.S. shipbuilding industry, and with this acquisition, we are excited to be a part of the region’s continued industry revitalization,” said Mavrookas. “The shipyard’s location, deep expertise, and turnkey facilities are ideally suited to allow Saronic to expeditiously develop, test, and produce its first MUSV model and advance our mission to deliver the full range of ASVs needed to support the U.S. Navy’s hybrid fleet.”

“Louisiana is home to a robust maritime and defense industrial base. Saronic’s investment furthers the state’s position as a leader in the production of unmanned vessels, which are critical for the success of future Department of Defense missions,” said Congressman Clay Higgins, Louisiana’s 3rd District.

Saronic’s acquisition of Gulf Craft delivers immediate production capacity and establishes a foundational pillar for the company’s growing shipbuilding enterprise. As part of its long-term vision, Saronic intends to invest over $2.5 billion to develop Port Alpha — the world’s most advanced shipyard, designed to produce hundreds of unmanned vessels annually and create thousands of new jobs.

Saronic Debuts Marauder

Marauder is a 150-foot MUSV purpose-built to support a wide range of missions for the U.S., its allies, and commercial customers. With a payload capacity of 40 metric tons, the autonomous ship is designed to travel up to 3,500 nautical miles or loiter for 30+ days, depending on mission requirements. Marauder will provide a comprehensive capability at a fraction of the cost of legacy manned solutions.

Marauder is designed to be fully unmanned and will integrate the same proven autonomy stack used across Saronic’s existing family of ASVs. The vessel incorporates Saronic’s vertically integrated approach, disciplined engineering philosophy, and strong domestic supplier network.

 

 

New York Governor to Fight US Federal Decision to Halt Empire Wind Project

April 17, 2025

 

New York Governor Kathy Hochul has said she would fight the federal decision to halt all construction for the Empire Wind 1 offshore wind project made by the U.S. Department of the Interior (DOI).

The U.S. Interior Secretary Doug Burgum ordered a halt to construction on Equinor's Empire Wind project off the coast of New York, citing inadequate environmental analysis conducted by the Biden Information.

Empire Wind was approved by the Biden administration in November of 2023 and began construction in 2024.

At the end of December 2025, the developer Equinor reached financial close for the project, securing a financing package of over $3 billion.

“Every single day, I’m working to make energy more affordable, reliable and abundant in New York and the federal government should be supporting those efforts rather than undermining them. Empire Wind 1 is already employing hundreds of New Yorkers, including 1,000 good-paying union jobs as part of a growing sector that has already spurred significant economic development and private investment throughout the state and beyond.

“This fully federally permitted project has already put shovels in the ground before the President’s executive orders—it’s exactly the type of bipartisan energy solution we should be working on.

“As Governor, I will not allow this federal overreach to stand. I will fight this every step of the way to protect union jobs, affordable energy and New York’s economic future,” Governor Hochul said.

The Empire Wind lease was awarded to Equinor in 2017. It is being developed in two phases, Empire Wind 1, with a contracted capacity of 810 MW, and Empire Wind 2, with a potential capacity of more than 1,200 MW.

In June 2024, Equinor announced the execution of the Purchase and Sale Agreement (PSA) with the New York State Energy Research and Development Authority for Empire Wind 1 power for 25 years at a strike price of $155.00/MWh.

The American Clean Power Association (ACP) has issued the statement in response to the U.S. DOI decision, deeming it as ‘bad policy’.

“Halting construction of fully permitted energy projects is the literal opposite of an energy abundance agenda. With skyrocketing energy demand and increasing consumer prices, we need streamlined permitting for all domestic energy resources. Doubling back to reconsider permits after projects are under construction sends a chilling signal to all energy investment.  

“These political reversals are bad policy, whether applied to pipelines or wind farms. We encourage the Administration to quickly address perceived inadequacies in the prior permit approvals so that this project can complete construction and bring much needed power to the grid. At the end of the day, reliable energy systems depend on reliable political systems,” said Jason Grumet, ACP’s CEO.

Empire Wind 1 is located 15-30 miles southeast of Long Island and spans 80,000 acres. With a contracted capacity of 810 MW, Empire Wind 1 will be the first offshore wind project to connect into the New York City grid.

To support the project, an agreement was signed to transform the South Brooklyn Marine Terminal (SBMT) into a world-class offshore wind hub in 2022.

SBMT is set to become the nation’s largest dedicated port facilities for offshore wind in the U.S. It will serve as the operations and maintenance (O&M) hub for Empire Wind 1 and will be the site of the project’s onshore substation.

 

 

Maritime Charities Launch Neurodivergent Seafarers Support Program

As part of ongoing efforts to foster greater equity, diversity and inclusion within the maritime space, NeurodiversAtSea, the Seafarers Hospital Society and The Seafarers’ Charity have launched an industry-first project to provide tailored support to neurodivergent seafarers.

The project builds upon research conducted by NeurodiversAtSea which identified a lack of industry support for neurodivergent seafarers, with just two out of 118 survey respondents reporting their employer provided any form of assistance to access formal assessments or diagnosis. 

Additionally,62% of respondents reported no specific assistance for neurodivergent employees.

By making £9,761 available to UK-based seafarers as part of an initial pilot scheme, this project aims to provide grant funding for seafarers who suspect they’re neurodivergent to pursue a formal diagnosis, enabling them to access reasonable adjustments for exams and from their employer.

With up to 15% of the UK population being neurodivergent, including an estimated 1.2 million autistic individuals and 2.2million with ADHD, alongside other conditions such as dyslexia, dyspraxia and dyscalculia, this project aims to help unlock an under-utilized talent pool.

The project seeks to provide an alternative to lengthy waits for formal assessments via the NHS, which are up to three years in some areas, and will fund formal diagnostic assessments and in some cases expenses related to attending these appointments for; ADHD, autism, dyslexia, dyspraxia, dyscalculia and other specific learning differences. The funds will be administered and distributed by the Seafarers Hospital Society, on behalf of NeurodiversAtSea.

Commenting on the launch, Sandra Welch, CEO of the Seafarers Hospital Society said “Diversity, equity and inclusion are integral to a healthy and happy workplace, which is why we’re delighted to be partnering with NeurodiversAtSea, enabling neurodivergent seafarers to access the right assessments and support whilst working at sea”

 

 

Global Shippers Await Word on US Port Fees for China-Linked Vessels

The U.S. Trade office will this week announce its plan for levying port fees on China-linked ships as part of President Donald Trump's effort to revive domestic shipbuilding and counter China's dominance on the high seas.

The proposed fees on China-built ships could hit $1.5 million per U.S. port call. Few vessels would be exempt, making U.S. export prices unattractive and foisting billions of dollars in annual import costs on American consumers.

The final plan is widely expected to be announced as early as April 17, the one-year anniversary of the launch of USTR's investigation into China's maritime activities. In January, the agency concluded that China uses unfair policies and practices to dominate global shipping.

U.S. Trade Representative Jamieson Greer last week said the agency would not apply all aspects of its original fee proposal, which outlined a range of options to penalize China, including million-dollar port fees for ships with ties to the country.

Jamieson said USTR would announce remedies in the middle of this month.

Agency officials in a meeting last month told Great Lakes shipping groups that the issue would be wrapped up in a year and one day from the start of the USTR investigation, said Justin Mann, a Chamber of Marine Commerce government affairs representative, who attended that meeting.

USTR had no immediate comment on the details of its plans.

The apparent revision followed a tsunami of public and private opposition from the global maritime industry, including domestic port and vessel operators as well as U.S. exporters and importers of everything from coal and corn to bananas and concrete.

American and Canadian vessel operators from the Great Lakes region make frequent port calls and warn that the fees could send the cost of essentials like iron ore, road salt and gypsum up by about 200%. They joined other groups in asking for exemptions.

During a congressional hearing Greer said the fees may not be cumulative and would be designed to avoid economic harm. Reuters reported separately that the administration was considering a variety of options to soften the port fee proposal after receiving feedback from industry representatives in private meetings or via hundreds of comments submitted online.

Implementation could also come as late as November as a result of the feedback, three sources tracking the issue, who declined to be identified, told Reuters.

Industry executives had warned that U.S. taxpayers, workers and even the U.S. shipbuilders and owners the government aims to support could be harmed if the plan was adopted without adjustments, because nearly all of the existing global shipping fleet would be subject to the huge fees.

Small-to-medium ports, for example, said they are concerned that ships will stop calling on them if USTR assesses the fee at each U.S. port visit. Concentrating calls at larger ports would overwhelm those facilities, while starving secondary ports that have received billions of dollars of public investment in infrastructure improvements, port executives warned.

"The rule as currently drafted, particularly the fee imposed per port call, may have significant impact on the supply chain that could cause unintended consequences that harm U.S. ports and those who rely on the global supply chain," said Scott Chadwick, Port of San Diego CEO, in a statement to Reuters.

That Southern California port is home to General Dynamics' National Steel and Shipbuilding Co, which constructs and repairs vessels, as well as cargo carrier Pasha, which makes bi-weekly calls to Hawaii with its U.S.-built and flagged Jones Act ship named Jean Anne.

Chadwick did not elaborate on the fee impact, but fewer port calls at San Diego could translate to less ship repair activity for NASSCO and financial stress for terminal operators that serve Pasha and other customers.

General Dynamics and other U.S.-based military ship builders including Huntington Ingalls Industries have in-port or standalone facilities. They did not immediately comment.

The Shipbuilders Council of America, which represents the industry, said it supports Trump's effort to restore and strengthen the United States' shipbuilding and ship repair industry.

The proposed fees would undermine years of federal government investments in ports, including dredging projects, new cargo-handling equipment, and expanded cargo terminals, American Association of Port Authorities CEO Cary Davis said in a letter to USTR. He said that some of those investments were made during Trump's first term.

"This proposal would risk turning many of these valuable investments that translate into thousands of jobs into stranded assets," Davis wrote. AAPA declined further comment.

Representatives from the Northwest Seaport Alliance and the ports of Los Angeles, Long Beach and Seattle disclosed that they met with USTR officials prior to public hearings in late March to address issues of cargo diversions.

They were joined by the International Longshore and Warehouse Union that represents their longshore laborers and West Coast rail operators Union Pacific and Berkshire Hathaway-owned BNSF.

"This isn’t just about redirecting cargo - it’s about the infrastructure and systems that keep goods moving," said Matt Leech, CEO of New Jersey-based Ports America, one of the largest U.S. port operators.

"You can’t expand capacity by building new rail lines or relocate an entire trucking workforce overnight."

(Reuters)

 

 

FinMin may complete privatisation process of IDBI Bank by March 2025

In the FY17 Union Budget, the government proposed reducing its stake in IDBI Bank to below 50 per cent

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Harsh Kumar

3 min read Last Updated : Oct 28 2024 | 12:22 AM IST

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The Union Ministry of Finance is expecting to complete the privatisation process of IDBI Bank by March 2025, according to a senior government official familiar with the matter.

 

“As the Reserve Bank of India (RBI) has issued the ‘fit and proper’ certificate to the shortlisted bidders, the government is moving at full pace on the disinvestment of IDBI Bank, aiming to complete it by this financial year. We will give access to the virtual data room to the bidders by the second week of November,” said the official.

 

Stocks to Watch, Feb 10: Steel stocks, Nykaa, Eicher, M&M, Vedanta, BEL

At 6:36 AM, GIFT Nifty Futures were trading 47 points lower at 23,568, indicating a negative start for the Indian bourses

Stocks to watch on February 10: Q3 results, Trump tariffs, weak global cues are likely to weigh on Indian benchmarks, Nifty50 and Sensex, on Monday, February 10, 2025. At 6:36 AM, GIFT Nifty Futures were trading 47 points lower at 23,568, indicating a negative start for the Indian bourses.

 

Asia-Pacific markets fell on Monday amid growing concerns over escalating trade tensions due to a potential 25 per cent tariff on steel and aluminum imports, as announced by US President Donald Trump. Nikkei dropped 0.4 per cent, while Kospi 0.58 per cent. ASX 200 was down 0.3 per cent.

 

Back home, stocks fell on Friday, February 7, as the Reserve Bank of India (RBI) 25 bps rate cut to 6.25 per cent failed to impress the D-Street.

Meanwhile, here are stock to keep on the radar today:

 

Q3 results: Nykaa, Grasim Industries, Apollo Hospitals, Eicher Motors, Nalco, CRISIL, Bata India, Patanjali Foods, Varun Beverages, Ashoka Buildcon and Escorts Kubota among others to announce Q3 results today.

Steel stocks: Steel stocks will be in focus as Trump announced that he was planning a 25 per cent tariff on all steel and aluminum imports.

 

Oil India: Recorded a 44 per cent drop in net profit to Rs 1,457 crore and a 16.7 per cent decline in revenue to Rs 9,089 crore.

 

LIC: Reported a 16 per cent Y-o-Y increase in net profit to Rs 11,009 crore, despite a 9 per cent decline in net premium income to Rs 1.07 lakh crore

Bharat Electronics: Received orders worth Rs 962 crore, including a Rs 610 crore contract for supplying Electro-Optic Fire Control Systems to the Indian Navy.

 

Shipping Corporation of India: Reported a 43.8 per cent annual drop in net profit at Rs 75.5 crore in Q3FY25, as against Rs 134.4 crore a year ago.

 

Vedanta: Received two orders totaling Rs 141.4 crore in penalties from the CGST & Central Excise, Rourkela Commissionerate.

 

Mahindra & Mahindra: Net profit rose 19 per cent to Rs 2,964 crore, driven by strong demand for SUVs and tractors. Revenue from operations increased 20 per cent to Rs 30,538 crore.

Hitachi Energy India: Received LoI from Rajasthan Part I Power Transmission Limited for a JV with BHEL to design and execute an HVDC link to transmit renewable energy from Bhadla III (Rajasthan) to Fatehpur (Uttar Pradesh).

 

HDFC Bank: Increased MCLR for overnight tenure by 5 bps to 9.20 per cent, despite RBI cutting the repo rate by 25 bps to 6.25 per cent.

 

Delhivery: Reported 113.68 per cent YoY jump in net profit to Rs 25 crore for Q3. Revenue increased 8.4 per cent YoY to Rs 2,378.3 crore, but Ebitda fell 6.2 per cent YoY to Rs 102.4 crore.

 

L&T Finance: Approved the acquisition of Paul Merchants Finance’s gold loan business for Rs 537 crore via slump sale.

 

Waaree Energies: Commenced operations at its 1.4 GW solar cell manufacturing facility in Gujarat.

 

ABFRL: Entered into a pact with Fidelity to subscribe to 3.95 crore shares of the company.

 

Popular Vehicles: Received LoI to establish a 3S facility for JLR vehicles in Nagpur, operations to start FY26. Another unit to establish an Ather Space 3.0 in Thiruvananthapuram.

 

Firstsource Solutions: Board approved share purchase agreement to acquire 100 per cent of AccunAI for Rs 8.1 crore.