Latest news with #Greece-based
TimesLIVE
4 hours ago
- TimesLIVE
Limpet mine may have damaged Greek tanker off Libya, say sources
A limpet mine may have caused a blast that damaged a Greek tanker sailing off Libya's coast last week, the fifth such incident to hit commercial shipping in the region in recent months, maritime security sources said on Tuesday. The Marshall Islands-flagged tanker Vilamoura had left the Libyan port of Zuetina on June 27 to head to Gibraltar with some 1-million barrels of oil when there was an explosion in the engine room, its Greece-based operator TMS said on Monday. According to initial assessments, a limpet mine was a likely cause of the blast, four maritime security sources said. A company representative with knowledge of the matter told Reuters that TMS was in no position to know what caused the blast until a full assessment of the damage was conducted once the vessel arrived in Greece later on Tuesday or on July 2. The tanker's last position was off Greece's southern coast, ship tracking data on the MarineTraffic platform showed on Tuesday. The ship's engine room was flooded due to the blast and the vessel lost maneuverability, although it was able to be towed towards Greece, TMS added in a statement on Monday.
Yahoo
2 days ago
- Business
- Yahoo
Maersk Resumes Haifa Imports; Strait of Hormuz Shipping Normalizes
Less than a week after canceling its port calls to Israel's Port of Haifa amid the country's then-brewing conflict with Iran, Maersk began accepting imported cargo at the port again on Wednesday. Israel and Iran have appeared to honor a Tuesday ceasefire after the countries traded missile attacks for 12 days, likely giving the Danish ocean carrier the go-ahead to clear ships to return to Haifa. The U.S. brokered the ceasefire after intervening in the conflict with airstrikes on Iranian nuclear facilities. More from Sourcing Journal Pakistan Slashes Port Qasim Export Fees 50% in Bid to Revive Trade, Lure Ocean Carriers China Port Volumes Hit Record Highs on US Tariff Truce US-Iran Clash Sparks Strait of Hormuz Blockade Threat Fears Maersk has yet to confirm when it will begin accepting export cargo. 'We are monitoring the situation very closely and based on the recent developments and with prospects of a ceasefire currently in place, we expect to be able to reopen export cargo acceptance once the lower safety risk of doing so has been reconfirmed,' said Maersk in a customer advisory update Thursday morning. Maersk also noted that current diversion plans and contingencies for cargo from Haifa are actively being finalized on a case-by-case basis. Throughout the conflict, the carrier had maintained operations at Israel's Port of Ashdod, with the company saying it will promptly reassess both decisions based on security assessments and maritime advisories. After the ceasefire announcement, maritime security firm Ambrey assessed that a threat to U.S.-affiliated merchant shipping was lowered, but acknowledged that there was a 'realistic possibility that the conflict could restart.' In the advisory, Maersk also gave updates regarding the opposite side of the Arabian Peninsula. According to the ocean carrier, the Strait of Hormuz remains navigable as of Wednesday, but that the team is working out contingency plans on a case-by-case basis to adapt to any other potential changes. Worries that Iran would attempt to close off the Strait of Hormuz in some capacity appear to have subsided with the ceasefire, but security agencies dedicated to maritime risk assessment remain cautious. The Joint Maritime Information Center (JMIC) said in a Thursday advisory note that the regional threat level across the Strait of Hormuz, Arabian Gulf and Northern Arabian Sea is still 'significant,' although shipping in the strait has returned to normal levels. On Wednesday, 127 ships traversed the Strait of Hormuz, the agency said, up from 103 on June 19. Last June, 114 vessels on average transited the waterway daily. However, there are lingering threats of electronic interference that can impact a ship's navigation systems with high levels reported during dark periods, JMIC says. Angeliki Frangou, a CEO of Greece-based tanker Navios Maritime Partners, told CNBC Tuesday that many liners are only transiting during daytime because of the jamming of GPS signals of vessels. According to tracking data from maritime risk analytics firm Windward, 55 vessels between June 12-24 transmitted 101 atypical destination messages such as 'China owned' or 'Russian crude' across the Arabian Gulf, Arabian Sea and Red Sea as protective measures since those ships are less likely to be targeted in an attack. JMIC recommends shipping companies to adhere to security advisories and conduct detailed vessel- and voyage-specific risk assessments for any operations or transit through the region. Given the prevalence of electronic interference, the agency also said to employ enhanced visual lookouts and rely more heavily on visual, radar-based navigation. What remains to be seen in the area is whether freight rates will react to the returning cadence of ships to the strait. Ships didn't even have to enter the Strait of Hormuz for customers to feel the heat of higher prices. Rates from Shanghai to the Port of Khor Fakkan, located on the UAE's coastline on the Gulf of Oman, accelerated 76 percent over mid-May, according to data from Xeneta. As of Monday, an average 40-foot container on that route cost $3,341.
CNBC
24-06-2025
- Business
- CNBC
Strait of Hormuz GPS jamming remains major security issue, tanker CEO says
Despite a tentative ceasefire between Israel and Iran on Tuesday, security issues in the Strait of Hormuz continue for shipowners, with GPS jamming incidents forcing vessels to reduce transits. According to Angeliki Frangou, a fourth-generation shipowner and chairman and CEO of Greece-based Navios Maritime Partners, which owns and operates dry cargo ships and tankers, vessels in the Strait of Hormuz are still being threatened by continuous GPS signal blocking. The GPS jamming has more vessels waiting to pass through the Strait of Hormuz. "We have had about 20% less passage of vessels through the Strait of Hormuz, and vessels are waiting outside," Frangou told CNBC. "You are hearing a lot from the liner [ocean shipping] companies that they are transiting only during daytime because of the jamming of GPS signals of vessels. They don't want to pass during the nighttime because they find it dangerous. So it's a very fluid situation," Frangou said. A June 20 estimate from the Maritime Information Cooperation & Awareness Center indicated that 970 ships per day had experienced GPS interference over the prior week. Data from shipping intelligence firm Kpler shows the overall traffic in the Strait of Hormuz decreasing from June 13 to June 22, based on analysis of Maritime Mobile Service Identity (MMSI) accounts for all vessels and tankers in the area. A MMSI is a unique nine-digit number used to identify vessels and used for vessel tracking and communications. On June 13, the unique MMSI count for all kinds of vessels was 16,127, and that was down to 7,947 on June 22. For tankers, the unique MMSI count went down from 1,120 to 889 on June Strait of Hormuz, which connects the Persian Gulf to the Arabian Sea, is a critical transit path for global oil and gas shipments, with roughly 20% global oil and gas passing through its narrow waters. At its narrowest point, the Strait of Hormuz is 21 miles, and that is a primary reason why the GPS signal jamming is a critical issue for ships, Frangou said. "This is very important," Frangou said. "For the safety of the crew and the vessel. ... Safety conditions are something that is at the forefront of our minds. This is why we are constantly monitoring all this," she added. The ongoing security risks associated with traversing the Strait of Hormuz has fueled insurance rates and ocean freight rates. Rates from Shanghai to the port of Khor Fakkan, which is situated on the UAE Indian Ocean coastline, are up 76% in comparison to mid-May, according to spot ocean freight rate data tracked by freight intelligence platform Xeneta. The average spot rates have reached $3,341 per forty-foot equivalent unit (FEU.) The Port of Khor Fakkan is located outside the Strait of Hormuz. Due to its location, the port is considered to be one of the most important transshipment hubs for the Arabian Gulf, the Indian Sub-continent, the Gulf of Oman, and the East African markets. "The reality is that yesterday [Monday] we saw that rates doubled on the passage," Frangou said. "This can change quickly, but what we have seen is that when they go up, it's more difficult to bring them down," she added. Unlike the Red Sea diversions caused by Houthi rebel attacks — which have been in place since mid-December 2023 for vessels to avoid the waterway to the Suez Canal — tankers and containerships bound for ports on the other side of the Strait of Hormuz have no option. "The spot market for VLCC [very large crude carriers] has moved up $70,000 per day," Frangou said. "So even though oil has not gone up, we saw the VLCC rates, the very large Crude Carriers, have gone up. It is very much wait-and-see," she added.
Indianapolis Star
20-06-2025
- Business
- Indianapolis Star
Brenmiller Energy Appoints Boaz Toshav to Serve as an Independent Director on the Board
Experienced Global Investment Executive and Strategic Advisor to Support the Company's Next Phase of Growth ROSH HA'AYIN, IL / ACCESS Newswire Brenmiller Energy Ltd. ('Brenmiller', 'Brenmiller Energy', or the 'Company') (Nasdaq:BNRG), a leading global provider of Thermal Energy Storage (TES) solutions for industrial and utility customers, today announced the appointment of Mr. Boaz Toshav as an Independent Director to its Board of Directors (the 'Board'), effective immediately. Mr. Toshav previously served on the Company's Board from June 2023 until August 2024. Mr. Toshav has over 20 years of experience in investment banking, fixed income and mergers and acquisitions advisory services. He is currently President and Chairman of Rio Ave FC (Primeira Liga), a professional Portuguese football (soccer) club, and he previously served as a senior financial advisor to UK-based Nottingham Forest FC and Greece-based Olympiacos FC. Mr. Toshav also currently serves as the Chief Executive Officer of Umbrella Advisors Ltd., a boutique investment bank and financial advisory firm he founded in 2014. Mr. Toshav has also been a board member of Intelicanna Ltd. (TASE: INTL) and Getruck Ltd. since 2018 and 2021, respectively. Mr. Toshav received a Bachelor of Arts degree in Economics and Business Administration from Tel Aviv University, as well as a Master of Philosophy from Tel Aviv University. Mr. Toshav qualified as a United Kingdom Financial Services Authority certified investment advisor in 2005. 'We are honored to welcome Boaz back to our Board,' said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. 'His proven ability to navigate financial markets, advise boards, and drive strategic partnerships will be instrumental as we enter a pivotal moment in our Company's evolution. With multiple commercial projects underway and a growing global footprint, we believe that Boaz's appointment will strengthen our governance and position us to realize significant value creation for our shareholders.' Mr. Toshav succeeds Ms. Nava Swersky Sofer, who concluded her term on the Board following six years of dedicated service. Ms. Swersky Sofer's departure was in accordance with the natural expiration of her term and was not the result of any disagreement with the Company. The Board and management extend their sincere appreciation for her strategic insight and leadership during a period of meaningful growth and transformation at Brenmiller Energy. This appointment follows Brenmiller's recent strategic milestones, including project deployments in Europe, Israel, and the United States. Notably, the European Hydrogen Bank has granted SolWinHy Cádiz S.L. (the 'SolWinHy Project') in Arcos de la Frontera, Spain, €25 million in funding. SolWinHy is a special purpose company jointly owned by leading renewable energy developers Green Enesys Group ('Green Enesys') and Viridi RE ('Viridi') to build new green hydrogen and green e-methanol projects in Europe. Green Enesys and Viridi are Brenmiller's joint venture partners in Brenmiller Europe S.L. ('Brenmiller Europe'). The Company estimates its supply of the bGen™ TES system for the SolWinHy Project to be approximately €7 million. The Company believes that its involvement with the SolWinHy Project reinforces the strength of its bGen™ technology and the Company's role in enabling renewable fuel production at scale. Brenmiller continues to expand its role as a key enabler of flexible, clean industrial heat in support of global net-zero targets. About Brenmiller Energy Ltd. Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen™ ZERO thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers' needs. The most experienced thermal battery developer on the market, Brenmiller operates the world's only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company's website at and follow the company on X and LinkedIn. Forward-Looking Statements: This press release contains 'forward-looking statements' within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company uses forward-looking statements when it discusses: the Company's belief that Mr. Toshav's appointment will strengthen the Company's governance and position to realize significant value creation for shareholders; that the Company s entering a pivotal moment in its evolution; future commercial projects underway and a growing global footprint; the Company's estimates for its supply of the bGen™ TES system for the SolWinHy Project to be approximately €7 million; that the Company's involvement with the SolWinHy Project reinforces the strength of its bGen™ technology; the Company's role as a key enabler of flexible, clean industrial heat in support of global net-zero targets. Without limiting the generality of the foregoing, words such as 'plan,' 'project,' 'potential,' 'seek,' 'may,' 'will,' 'expect,' 'believe,' 'anticipate,' 'intend,' 'could,' 'estimate' or 'continue' are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to: the Company's planned level of revenues and capital expenditures; risks associated with the adequacy of existing cash resources; the demand for and market acceptance of our products; impact of competitive products and prices; product development, commercialization or technological difficulties; the success or failure of negotiations; trade, legal, social and economic risks; and political, economic and military instability in the Middle East, specifically in Israel. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Annual Report on Form 20-F for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission ('SEC') on March 4, 2025, which is available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Miami Herald
20-06-2025
- Business
- Miami Herald
Brenmiller Energy Appoints Boaz Toshav to Serve as an Independent Director on the Board
Experienced Global Investment Executive and Strategic Advisor to Support the Company's Next Phase of Growth ROSH HA'AYIN, IL / ACCESS Newswire / June 20, 2025 / Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy", or the "Company") (Nasdaq:BNRG), a leading global provider of Thermal Energy Storage (TES) solutions for industrial and utility customers, today announced the appointment of Mr. Boaz Toshav as an Independent Director to its Board of Directors (the "Board"), effective immediately. Mr. Toshav previously served on the Company's Board from June 2023 until August 2024. Mr. Toshav has over 20 years of experience in investment banking, fixed income and mergers and acquisitions advisory services. He is currently President and Chairman of Rio Ave FC (Primeira Liga), a professional Portuguese football (soccer) club, and he previously served as a senior financial advisor to UK-based Nottingham Forest FC and Greece-based Olympiacos FC. Mr. Toshav also currently serves as the Chief Executive Officer of Umbrella Advisors Ltd., a boutique investment bank and financial advisory firm he founded in 2014. Mr. Toshav has also been a board member of Intelicanna Ltd. (TASE: INTL) and Getruck Ltd. since 2018 and 2021, respectively. Mr. Toshav received a Bachelor of Arts degree in Economics and Business Administration from Tel Aviv University, as well as a Master of Philosophy from Tel Aviv University. Mr. Toshav qualified as a United Kingdom Financial Services Authority certified investment advisor in 2005. "We are honored to welcome Boaz back to our Board," said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. "His proven ability to navigate financial markets, advise boards, and drive strategic partnerships will be instrumental as we enter a pivotal moment in our Company's evolution. With multiple commercial projects underway and a growing global footprint, we believe that Boaz's appointment will strengthen our governance and position us to realize significant value creation for our shareholders." Mr. Toshav succeeds Ms. Nava Swersky Sofer, who concluded her term on the Board following six years of dedicated service. Ms. Swersky Sofer's departure was in accordance with the natural expiration of her term and was not the result of any disagreement with the Company. The Board and management extend their sincere appreciation for her strategic insight and leadership during a period of meaningful growth and transformation at Brenmiller Energy. This appointment follows Brenmiller's recent strategic milestones, including project deployments in Europe, Israel, and the United States. Notably, the European Hydrogen Bank has granted SolWinHy Cádiz S.L. (the "SolWinHy Project") in Arcos de la Frontera, Spain, €25 million in funding. SolWinHy is a special purpose company jointly owned by leading renewable energy developers Green Enesys Group ("Green Enesys") and Viridi RE ("Viridi") to build new green hydrogen and green e-methanol projects in Europe. Green Enesys and Viridi are Brenmiller's joint venture partners in Brenmiller Europe S.L. ("Brenmiller Europe"). The Company estimates its supply of the bGen™ TES system for the SolWinHy Project to be approximately €7 million. The Company believes that its involvement with the SolWinHy Project reinforces the strength of its bGen™ technology and the Company's role in enabling renewable fuel production at scale. Brenmiller continues to expand its role as a key enabler of flexible, clean industrial heat in support of global net-zero targets. About Brenmiller Energy Ltd. Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen™ ZERO thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers' needs. The most experienced thermal battery developer on the market, Brenmiller operates the world's only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company's website at and follow the company on X and LinkedIn. Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company uses forward-looking statements when it discusses: the Company's belief that Mr. Toshav's appointment will strengthen the Company's governance and position to realize significant value creation for shareholders; that the Company s entering a pivotal moment in its evolution; future commercial projects underway and a growing global footprint; the Company's estimates for its supply of the bGen™ TES system for the SolWinHy Project to be approximately €7 million; that the Company's involvement with the SolWinHy Project reinforces the strength of its bGen™ technology; the Company's role as a key enabler of flexible, clean industrial heat in support of global net-zero targets. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to: the Company's planned level of revenues and capital expenditures; risks associated with the adequacy of existing cash resources; the demand for and market acceptance of our products; impact of competitive products and prices; product development, commercialization or technological difficulties; the success or failure of negotiations; trade, legal, social and economic risks; and political, economic and military instability in the Middle East, specifically in Israel. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Annual Report on Form 20-F for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on March 4, 2025, which is available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contact: investors@ SOURCE: Brenmiller Energy
