Original News

Unlike larger jackup regions where scale provides greater flexibility, relatively minor changes in supply can have an outsized impact. The availability, reactivation, or retirement of a single rig can materially shift utilisation levels, dayrate negotiations, and contracting dynamics, often with limited visibility.There are currently five jackups drilling in the region, operating across Turkmenistan, Azerbaijan, and Iran. Several of these units are contracted into 2026 and beyond, which is meaningful in a market of this size.© EsgianDespite this coverage, active supply remains constrained.

At this year’s annual Legislative Summit, the American Association of Port Authorities (AAPA) proudly named U.S. Representative Mike Ezell (MS-04) as the 2026 Port Person of the Year for his commitment to the seaport and maritime industry. AAPA celebrates his leadership as a champion of many port industry priorities, including his advocacy for the Water Resources Development Act of 2026 and his efforts to incentivize the reshoring of port crane manufacturing to the U.S."It is…

Fincantieri delivered the cruise ship Norwegian Luna to Norwegian Cruise Line during a ceremony at the builder’s Marghera shipyard in Italy, marking the second vessel in the expanded Prima Plus class.The 156,000-gt ship follows sister vessel Norwegian Aqua, delivered in 2025, and represents an evolution of the original Prima-class ships Norwegian Prima and Norwegian Viva, which were also built by Fincantieri. At approximately 321 meters in length with capacity for about 3,550 passengers…

Tidewater Inc. announced its 2025 results with Quintin Kneen, Tidewater’s President and CEO, commenting, “Although 2025 was anticipated to be a down year for the offshore industry, I am pleased to say that by all measures Tidewater was able to successfully navigate these challenges to deliver one of the best years in recent memory, demonstrating the resilience of the company we’ve endeavored to build over the last eight years.”The business generated year-over-year revenue growth, gross margin expansion and average day rate growth.

Norwegian marine seismic survey services firm SeaBird Exploration, part of SED Energy Holdings, has secured a contract extension for its Fulmar Explorer seismic survey vessel.SeaBird Exploration has signed a three-month contract extension for ocean bottom node (OBN) source work for the vessel in the Western Hemisphere.This extension now commits the 2009-built vessel through mid-June 2026, maintaining the same commercial terms as the original agreement, the company said.The name of the client or the value of the contract extension has not been disclosed.

After spending about 3 billion dollars, the Constellation frigate program was shut down with absolutely nothing to show for it.The New York Times produced an Op-Ed titled “America can’t make what the Navy Needs.”That title may indicate the United States does not have the technical ability to build ships for the US Navy. However, the article itself clearly shows that the issue relates to the Navy not being able to figure out what it wants US shipbuilders to build.The Navy wanted US shipbuilders to build a standard design.

Recent discussions with industrial teams have underscored how rapidly the digital “threatscape” is evolving across global energy systems, from oil and gas to chemicals, specialty gases, power generation, and transmission and distribution networks, says ABS Consulting Technical Director, Global Energy, Marco Ayala.The petrochemical sector must manage cyber risk amid supply chain and cyber vulnerabilities.Facing volatile energy prices, margin compression, supply chain disruptions and evolving regulatory requirements…

Seatrium, through its wholly owned subsidiary Jurong Shipyard, has started arbitration proceedings against Petrobras Netherlands in connection with a legacy contract for the conversion of the P-54 floating production, storage and offloading vessel (FPSO).The dispute relates to a settlement agreement reached in 2008 following amendments to the original 2004 contract. Under the settlement, Petrobras Netherlands agreed to pay Jurong Shipyard a close-out amount of $152.3 million,…

Anschütz has claimed a new benchmark in naval navigation with its SYNAPSIS WECDIS NX, a system with a powerful mix of navigational and tactical functions.SYNAPSIS brings all navigational and tactical information together into one consistent picture so that navigators interact with a single, harmonised platform.One of the key capabilities of SYNAPSIS WECDIS NX is its robust GNSS interference handling. This is something that Anschütz pioneered with the development of the gyrocompass by Hermann Anschütz-Kaempfe…

Lloyd’s Register (LR) has introduced significant enhancements to its Condition Assessment Program (CAP) Thickness Measurement Analysis process, designed to improve consistency, transparency and predictability in the assessment of tankers built to Common Structural Rules (CSR).The updated methodology addresses concerns regarding variability in CAP outcomes for CSR vessels. By aligning thickness measurement analysis directly with the vessel’s original CSR design requirements, LR has moved away from percentage-based acceptance criteria and adopted fixed, clearly defined thickness values.

As Americans do each year, with 2026 just the same, we are hopeful for a more promising year, with better outcomes and calmer seas. But for construction of the Nation’s inland waterways lock and dam infrastructure, there is a strong sense of urgency like never before.Since 1987, just 10 projects to modernize or expand locks on the inland waterways system have been completed, with seven of them started and finished between 1987 and 1997 at an average cost overrun of 33%.Since 2008, only two lock modernization projects have been completed.

U.K. defense contractor Babcock has secured its first agreement under the $5.3 billion (£4 billion) Maritime Partnership Program (MPP) with Indonesia, covering the sale of two Arrowhead 140 frigate licenses to be delivered over the coming months.The agreement includes a Letter of Intent outlining Indonesia’s procurement ambitions under the MPP, alongside the initial license deal. It builds on Babcock’s original export of two Arrowhead 140 licenses to Indonesia in 2021 and follows…

HII’s Ingalls Shipbuilding division has successfully completed builder’s sea trials for USS Zumwalt (DDG 1000).The Ingalls and Navy team conducted a comprehensive series of at-sea tests following an extensive modernization availability as the Navy’s first Conventional Prompt Strike (CPS) platform.USS Zumwalt, the lead ship of the Zumwalt-class destroyers, arrived at the Pascagoula shipyard in August 2023 for modernization. Shortly after arrival, the ship was moved onto land where the Ingalls team completed major technology upgrades.

Two of San Diego Bay’s most cherished working vessels have earned national recognition. The Silvergate (built in 1940) and the Cabrillo have been officially listed on the National Register of Historic Places by the U.S. Department of the Interior. Both vessels are owned and operated by Flagship Cruises & Events, San Diego’s oldest family-owned maritime fleet.This designation acknowledges the cultural, architectural, and maritime significance of the vessels, which are among San Diego’s last remaining historic ferries still operating on the water.

Genco Shipping & Trading Limited has firmly pushed back on takeover interest from Diana Shipping Inc., with its board unanimously rejecting a non-binding $20.60-per-share cash proposal that it says "significantly undervalues" the company and carries unacceptable execution risk.In a statement released January 13, Genco Shipping & Trading Limited said its board, acting on the recommendation of an independent committee and advised by external financial and legal counsel, concluded…

This week, the Blue Water team reached a milestone in their journey: surpassing 1000 hours of ocean-based testing of their proprietary propulsion system designed for autonomous surface vessels. Achieving this milestone surpasses the Navy’s original 720-hour land-based test requirement while also including the addition of fuel polishing, electric power generation, and a full sensor suite.Meeting the Navy's VisionAs the Navy expands its fleet of uncrewed ships to execute transoceanic missions, vessels will need to remain at sea unmanned for months at a time.

In a strategic step to consolidate the country's industrial and export capacity, the ASENAV shipyard and multinational towage services company SAAM signed their first shipbuilding contract.The agreement outlines the manufacturing of a tugboat in Valdivia, designed under the strictest international standards. Construction is expected to take approximately 15 months, with the vessel scheduled to join SAAM's fleet in Canada during the first half of 2027.The vessel, a RAstar 3200W model designed by Robert Allan, will be 32 meters long and have over 80 tons of bollard pull.

The offshore division of Arab Shipbuilding and Repair Yard (ASRY) in Bahrain is on track to deliver its 200th project milestone in the first quarter of 2026. It will be a landmark achievement for ASRY since its Offshore Division was established in 2011 and reinforces ASRY’s expertise in drilling rig repair, upgrade, conversion, and refit work in the Gulf region.ASRY’s Offshore Division is currently carrying out a number of rig projects for a diverse spread of clients, including major offshore drilling companies Valaris…

The European Union adopted fresh sanctions against Russian oil interests on Monday, targeting traders Murtaza Lakhani and Etibar Eyyub for helping Moscow to circumvent Western sanctions on crude exports that help to fund Russia's war in Ukraine.The EU has imposed 19 packages of sanctions so far, but Moscow has managed to adapt to most measures and is still selling millions of barrels of oil to India and China, albeit at discounts to global prices. Much of this is transported using…

In 2010, the Monterey Bay Aquarium Research Institute (MBARI) began the process of replacing its research vessel, R/V Western Flyer. With Glosten at their side as vessel designer, MBARI considered three types of ships for their new project. The Western Flyer was a small waterplane area twin hull (SWATH), but the parties agreed on a monohull design for the new vessel. In 2021, Freire Shipyard won the bid to build the vessel, and R/V David Packard came to life.There is no “I” in TeamWill Moon…

Nearly 12 years after Malaysia Airlines Flight MH370 vanished with 239 people on board, the mystery remains unresolved. Later this month, a new seabed search is scheduled to begin in the southern Indian Ocean, renewing hopes that long-awaited answers may finally emerge.The Boeing 777 disappeared on March 8, 2014, while en route from Kuala Lumpur to Beijing. The passengers included more than 150 Chinese nationals, around 50 Malaysians, and citizens from several other countries, including France, Australia, the United States, India, Canada and Ukraine.

Boston Harbor's MV Outward Bound has returned to Gladding-Hearn Shipbuilding, Duclos Corporation for a mid-life refit. Redelivery is planned for spring 2026. Purpose-designed by JW Gilbert Associates and built by the Somerset, Mass., shipyard in 1995, the 64-foot, 140-passenger steel vessel carries visitors and supplies seasonally to Cathleen Stone Island Outward Bound, which offers experiential outdoor programs for youth and adults on the island in Boston Harbor.Along with installing a new shaft and propeller…

Norwegian offshore supply vessel owner DOF Group has secured seven new contract extensions with Petrobras for its offshore support vessels (OSVs) in Brazil, valued over $160 million.Five of DOF's Brazilian-flagged anchor handling tug supply (AHTS) vessels, all with ROVs on board, including Skandi Fluminense, Skandi Paraty, Skandi Angra, Skandi Urca and Skandi Iguaçu, have had their current contracts with Petrobras extended until the first quarter of 2027.The new four-year contracts…