Year News

Front-month U.S. crude oil futures were trading at their largest-ever premium over the second-month contract on Thursday as traders scrambled for barrels after U.S. President Donald Trump vowed to continue attacking Iran.Widening backwardation, the market term for immediate deliveries trading at a premium over barrels scheduled for delivery in a later month, suggests investors perceive supplies will be short in the near-term.WTI crude futures for May delivery were trading around $15.70 per barrel higher than the June contract during the session.The U.S.-Israeli war on Iran…

Gander Robotics, a defense and dual-use robotics company developing autonomous rescue systems for maritime operations, has closed a $1.1 million pre-seed funding round.The round was co-led by Impellent Ventures and Underscore VC, marking Gander's official launch.The company traces its origins to MIT Sloan, where Founder Michael Autery's deep domain expertise and 15 years of Naval experience and Co-Founder Lael Ayala's robotics expertise quickly attracted the attention of his investors, advisors, and defense stakeholders.In the U.S.

Over 95% of large ocean-going vessels moving in U.S. waterways are under the direction and control of a pilot that is a member of the American Pilots’ Association  (APA). The enormous increase in vessel sizes – as much as five times bigger than just twenty years ago – without corresponding expansions of waterways has made the already difficult work of these pilots even more challenging.APA-member pilots are generally the only U.S. citizen aboard foreign ships moving in the fragile bays, ports, rivers, and lakes that are the lifeline of this country.

The U.S. and Israeli war against Iran has changed the global market for liquefied natural gas (LNG), providing a boost to producers outside the Middle East that will likely last long after the current conflict ends.One of the major beneficiaries is Australia, which last year slipped to the third-largest exporter of the super-chilled fuel behind the United States and Qatar.But the effective closure of the Strait of Hormuz has shut off Qatar's LNG exports, meaning that it will likely lose second place back to Australia this year…

Magnet Defense today announced beginning production of its first deliverable M48 unmanned surface vessel (USV), marking a pivotal milestone as the M48 transitions from an operationally validated prototype program to a production platform.The M48 offers a range of up to 17,000 nautical miles and the ability to self-deploy from San Diego to the Arabian Gulf, unassisted and without refueling. This performance is best-in-class and a significant differentiator amongst competitors in terms of combined range…

The International Association of Classification Societies (IACS) has released its 2025 Annual Review which showcases the central role played by IACS and its members in supporting safety standards and driving technical innovation in the maritime industry.The report identifies many areas of progress, including IACS’s ongoing role in supporting decarbonisation objectives. Through its Safe Decarbonisation Panel, IACS is supporting progress in alternative fuels, whilst remaining neutral on any preferred option.

Damen Shipyards Group client Arrendadora Continental has been awarded a contract by the Port Authority of Puerto Quetzal to operate an additional tug, making a total of six tugs operating in the harbor on Guatemala’s Pacific coast. To fullfil its contractual responsibilities, the company will take delivery of a Damen ASD Tug 2312 later this year. The company is the largest tug operator in Guatemala. When this latest vessel is delivered, Arrendadora Continental will operate four vessels in the country.

Prysmian, a leader in energy and data wire and cabling solutions, recently announced changes to its leadership structure in North America to further strengthen the company’s market position in the region. 2025 marked the best year yet for Prysmian, with global revenues reaching USD$23.08 billion (€20 billion). North America’s net profit exceeded $9 billion, accounting for 40% of the company’s total sales. Over the past two years, Prysmian’s North American footprint has grown through the acquisitions of Encore Wire and Channell…

Navantia UK welcomed the Secretary of State for Northern Ireland, Rt Hon Hilary Benn MP, to the Harland & Wolff shipyard, just over a year since the company’s acquisition and the launch of plans to revitalize the historic site for the future.The visit focused on Belfast’s growing role at the heart of the UK’s shipbuilding capability, with the Secretary of State touring newly extended fabrication facilities, meeting the almost 500-strong workforce including 93 current apprentices…

More than two dozen ships sanctioned for being part of Russia's so-called shadow fleet have passed through UK waters since Prime Minister Keir Starmer last week authorised the military to detain vessels used by Moscow to export oil.The figures based on ship tracking data analysed by Reuters show that oil tankers sanctioned by Britain are continuing to travel along England's southern coast in the same numbers as before the announcement.British officials said almost a week ago that…

One of North America’s busiest ferry routes is joining the growing trend for U.S.-based operators to make the efficiencies of electrification central when they modernize their fleets, after an integrated hybrid-electric propulsion system from ABB was selected for the new ship ordered by Delaware River and Bay Authority (DRBA).Shipbuilder Senesco Marine contracted ABB to deliver full propulsion and automation systems for the 75-car passenger and vehicle ferry, which will replace the 45-year-old Cape Henlopen in connecting Lewes, Delaware and Cape May, New Jersey.

Chevron said on Tuesday that downstream assets at its Wheatstone liquefied natural gas plant in Western Australia suffered extensive cyclone damage, leaving both production trains offline.Danny Woodall, Chevron's director of operations and maintenance for Australia, said the two LNG processing trains at the 8.9 million-ton-a-year facility remained shut after Tropical Cyclone Narelle struck the region last week."We have a number of fin fans or air-cooled heat exchangers that sustained some damage," he told the Australian Domestic Gas Outlook conference in Sydney."We've got a dedicated team righ

Record output from wind farms has helped boost total clean power supplies in the United Kingdom to new highs so far in 2026, and allowed power firms to pare use of fossil fuels to multi-year lows.The growth in wind output has helped shield the UK power system from the worst effects of the U.S.

Gas majors including Shell and Chevron warned Australia against introducing a windfall tax on gas exporters, saying it would deter investment and undermine energy security as LNG prices surge amid disruption caused by the Iran war.Australia became the world's second-largest LNG supplier after Iranian strikes forced Qatar to halt production, with its export revenue set to surge due to lower supply caused by the conflict.Canberra is weighing options to capitalise on the higher prices…

Titan Clean Fuels has signed an off-take agreement with green energy supplier TURN2X to deliver e-Methane to the maritime industry from 2028 onwards.Titan operates seven bunker vessels and is able to deliver in around 52 ports today.TURN2X’s modular and load-flexible production plant in Miajadas, Spain, converts renewable energy and biogenic CO₂ into ISCC-certified e-methane. This green fuel is then fed into the grid and transported to major European ports, where Titan bunkers it to ship operators.E-methane can achieve net-zero greenhouse gas (GHG) emissions on a well-to-wake basis…

The trade of global fertilizer and ammonia faces intense pressure due to the effective closure of the Strait of Hormuz as diplomatic talks between the US and Iran remain uncertain. Rystad Energy’s 2025 trade mapping shows that the sale of 15% of global ammonia and 21% of urea, which is used as a high-nitrogen fertilizer, are tied to exporters potentially impacted by the closure. This includes leading producers Saudi Arabia and Qatar, followed by Kuwait, Bahrain, the UAE, Iran and Iraq.

Damen Shipyards Group has signed a contract with Polidano for the delivery of two Combi Freighters (CF) 3850. The Malta-based company will use the vessels primarily for the transport of aggregates for its construction business. The new vessels will be named Denise P and Julia P in honor of Polidano family members.Polidano approached Damen due to the reputation of the CF 3850 in the market. The company will use the vessels to replace a single vessel it currently operates, thereby significantly increasing its cargo capacity.Polidano typically transports aggregates from Montenegro to Malta.

Oil prices extended gains on Monday, with Brent heading for a record monthly rise, after Yemeni Houthis widened the Iran war by launching their first attacks on Israel.Brent futures rose 66 cents or 0.6% to $113.23 a barrel at 1031 am ET (1431 GMT) after settling 4.2% higher on Friday. U.S. West Texas Intermediate futures were up $2.2 or 2.2%, at $101.83 after gaining 5.5% in the previous session.Brent has soared by about 58% this month, the steepest monthly jump in LSEG data going back to 1988, exceeding gains made during the 1990 Gulf War. U.S.

American Roll-On Roll-Off Carrier (ARC) announced it would deploy the LifeFinder safety tech platform under a five-year agreement across its fleet of ten U.S.-flag roll-on/roll-off vessels to strengthen mariner safety and emergency response capabilities. The decision follows a successful year-long pilot installation on board the vessel M/V Patriot. ARC and LifeFinder worked closely to tailor the platform to the specific vessel layout, safety procedures and operational requirements.

Japan’s Japan Engine Corporation and Kawasaki Heavy Industries have begun hydrogen co-firing operations on a full-scale main engine designed for large commercial vessels, marking a step toward the development of hydrogen-powered shipping.The work forms part of a government-backed project under New Energy and Industrial Technology Development Organization, with participation from Mitsui O.S.K. Lines (MOL), MOL Drybulk, Onomichi Dockyard and ClassNK.The companies said the engine…

Japan’s Mitsui O.S.K. Lines, Hitachi and Hitachi Systems have signed a memorandum of understanding to develop floating data centers by converting second-hand vessels, aiming to meet growing demand driven by artificial intelligence.Under the agreement, the companies will conduct feasibility studies, including demand verification, technical specifications and operational procedures, with a view to starting operations from 2027 or later.The initiative targets Japan as the primary market…

As the world's ship recycling markets emerge from the Eid al-Fitr holidays, they do so into an environment that continues to generate more questions than answers, says cash buyer GMS.“The post-holiday reopening, always anticipated as a potential catalyst for pent-up activity, has instead delivered something more characteristic of the broader 2026 narrative: confusion. Steel plate prices played opposite roles in Pakistan and India this week, as Indian levels recorded an impressive jump while Pakistani levels continued to bleed, declining non-stop over the course of the last month now.

Carnival Corp cut its annual profit forecast on Friday, as higher fuel costs pressure the cruise operator's margins amid rising geopolitical tensions.Attacks on oil and transport facilities across the Middle East and disruptions to energy flows through the Strait of Hormuz, which carries about a fifth of global oil flows, since the Iran war outbreak, have disrupted global supply and pushed up oil prices.The spike threatens Carnival's profits as it is the only major U.S. cruise line that typically does not hedge fuel.Carnival expects full-year adjusted earnings per share to be about $2.21…