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The Biden administration has proposed changes regarding when oil, gas, and sulfur lessees and certain other parties operating in the offshore Outer Continental Shelf must post additional bonds or other “supplemental financial assurance” (“Supplemental FA”) related to their operations.

With increased scrutiny around environmental issues, those in wreck salvage and removal need to take into account environmental issues during salvage, removal and scrap disposal, particularly of contaminated wreckages.

The panelists discussed recent developments in the U.S. offshore wind industry including recent progress and projects in the pipeline, challenges to development of U.S. offshore wind projects, and more.

The Inflation Reduction Act spending bill, reflecting compromise between Senator Joe Manchin and Majority Leader Chuck Schumer, contains several measures to bolster offshore wind and other renewable energy development in the United States.

There are growing calls for a carbon tax on shipping emissions. Jim Loftis, Ciara Ros, and Tatiana Freeman of Vinson & Elkins look at the recent proposal from Japan for a global carbon tax, assess it in the context of the existing approaches in other jurisdictions and industries and consider how those involved in the maritime industry need to prepare.

In February, the 60,000 gt car carrier, Felicity Ace, caught fire and burned for over a week before recovery teams could board. After running aground while being towed to safety, the ship began to sink and is now two miles beneath the surface of the Atlantic Ocean.

The New York Bight offshore wind lease auction fetched a record $4.37 billion from companies looking to develop the waters.

Shipping keeps the world moving; but what moves the ships? As part of the increasing global push to achieve net-zero greenhouse gas emissions by 2050, significant attention has been paid to the energy and power sectors.