BOEM Proposes Regulation Revision to Support Mineral Exploration
The Bureau of Ocean Energy Management announced proposed revisions to its regulations governing hard mineral resources on the U.S. Outer Continental Shelf aiming to advance exploration and development of critical minerals essential to national security, economic competitiveness and technological progress.These proposed updates align with Executive Orders 14285 and 14154, which prioritize unleashing America’s potential to explore and develop OCS critical mineral resources.
CK Hutchison Concessions Annulled for Two Ports Along the Panama Canal
Panama on Monday published in its official gazette a Supreme Court ruling canceling key port contracts held by a subsidiary of CK Hutchison, clearing the way for Maersk's APM Terminals to take over temporarily.The publication finalizes the legal annulment of concessions for the Balboa and Cristobal terminals near the Panama Canal, which Panama Ports Company (PPC), subsidiary of Hong Kong-based CK Hutchison…
US Diesel Exports Hit High as Europe Strengthens Sanctions Against Russian Oil
U.S. diesel exports to Europe hit an all‑time high in January after the continent strengthened its ban on imports of Russian-derived fuel, and as discounted Russian diesel displaced U.S. fuel in Brazil, data showed and analysts said.The developments show how Western sanctions, aimed at punishing Russia over its invasion of Ukraine, are reshaping markets, allowing U.S. producers to capture premium markets in Europe while forcing Russia to seek customers much farther from home.Notably…
TKMS CEO Calls for Defense Industry Consolidation
The chief executive of German warship builder TKMS has called for consolidation within the defence industry in a speech published on Monday ahead of the company's annual general meeting."If defence capabilities are to be established more quickly, standardisation, industrial consolidation and speed are required," CEO Oliver Burkhard said in a transcript of the speech due to be held during the AGM on Feb.
Organizations Release Joint Support Statement on Maritime Labour Convention 20th Anniversary
On behalf of the International Labour Organization, the International Chamber of Shipping, and International Transport Workers’ Federation:On the 20th anniversary of the Maritime Labour Convention, 2006, we jointly reaffirm our commitment to the principles and protections it embodies and recognize the profound impact it has had on seafarers and on global shipping.The MLC consolidated and modernized around seventy maritime labor instruments into a single, comprehensive international framework.
The Swedish Club Reports 99% Retention, Increased Tonnage at 2026 Renewal
The Swedish Club (TSC) has concluded its 2026 P&I renewal with a 99% retention rate.Over the past 12 months, The Swedish Club has attracted new entered tonnage with an increase of nearly 8%, driven by a combination of solid organic development within the existing membership and selective new business transferring to the Club. In addition, the Club has secured a strong level of commitment through tonnage…
DetentionTrackr Debuts AI-Powered Port State Control Intelligence Tool
DetentionTrackr has launched a new artificial intelligence (AI)-powered maritime intelligence platform designed to centralize global Port State Control (PSC) detention data into real-time operational insight.The DetentionTrackr platform aggregates live detention data from global ports and converts fragmented enforcement records into structured intelligence aimed at improving efficiency and decision-making across the maritime industry.In February alone…
Fincantieri Launches First Next-Gen Offshore Patrol Vessel for Italian Navy
Fincantieri has launched the first next-generation Offshore Patrol Vessel (OPV) for the Italian Navy at its Riva Trigoso shipyard, marking a milestone in a four-ship program led by Orizzonte Sistemi Navali, a joint venture between Fincantieri and Leonardo.The vessel, named Ugolino Vivaldi, is the first of four units being built under a program assigned to Orizzonte Sistemi Navali — owned 51% by Fincantieri and 49% by Leonardo — by the Naval Armaments Directorate…
GLO Marine to Invest $7M in New Vessel Retrofit Hub in Romania
Retrofit specialist GLO Marine has announced a $7 million (€6 million) investment in a new integrated assembly and production facility in Galați, Romania, as it seeks to expand its end-to-end vessel upgrade and decarbonization capabilities.The new facility will allow the company to engineer, fabricate, pre-assemble and integrate complex retrofit systems under a coordinated delivery model. Construction is underway…
Seatrium Targets $40M Cost Savings in Continued Divestment Drive
Seatrium has put in motion a series of non-core asset divestments set to complete by early 2026, targeting over $40 million (S$50 million) in annualized operational cost savings.The Singapore-based offshore and marine group said the savings will follow recent divestments of the AmFELS yard in Texas and the GNL Platform Supply Vessels disclosed in 2025, alongside additional transactions earlier.The company said the divestments form part of its strategy to rationalize non-core assets…
SeaBird Exploration Nets Contract Extension for Seismic Survey Vessel
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…
Tidewater to Acquire Wilson Sons Ultratug Offshore in $500M
All-Cash Deal, Expanding Brazil FootprintTidewater Inc. (NYSE: TDW) has signed a definitive agreement to acquire Wilson Sons Ultratug Participações S.A. and its affiliate Atlantic Offshore Services S.A. (collectively, WSUT) in an all-cash transaction valued at approximately $500 million, including the assumption of existing debt.The acquisition significantly strengthens Tidewater’s position in the…
Passengers Evacuated from World Legacy
All 271 passengers from the Liberia-registered passenger vessel World Legacy have been safely evacuated.The fire occurred on February 20 while the vessel was en route to Singapore and resulted in the death of one crew member. The fire was brought under control by the crew shortly after.Passengers who required medical attention were attended to by paramedics, and four have been taken to hospital.Based on preliminary investigations, the fire occurred at the lounge area on deck nine of the vessel.
Call for Australian Government to Take Up Sustainable Seafarer Welfare
On the 20th anniversary of the Maritime Labour Convention, the NGO Human Rights at Sea has called on Catherine King, Australia’s Minister for Transport, to take action on the consistent provision of seafarer welfare services after an advocate has travelled the nation securing funding in the absence of federal government support.The February announcement that Flinders Port Holdings has committed $200…
Costamere Bulkers Reports Loss, but Solid Fundamentals
Costamare Bulkers has reported its unaudited financial results for the fourth quarter and year ended December 31, 2025, reflecting on the company’s performance during its second full quarter as an independent, publicly traded company.Costamare Bulkers had no operating activity during the year ended December 31, 2024 and remained a wholly-owned subsidiary of Costamare Inc., a New York Stock Exchange listed company…
Partners Study Year-Round Shipping from Canada’s Churchill Port
Arctic Gateway Group (AGG) has partnered with Canadian shipping company Fednav to examine the operational requirements that would be necessary to support year-round shipping from the Port of Churchill.The work for this review is underway and is expected to be completed this summer.Fednav’s work with AGG will focus on understanding the practical operational considerations of navigating ice-covered waters in Hudson Bay.
Indigenous Protesters Occupy Cargill's Santarem Port Terminal
Indigenous protesters have occupied Cargill's Santarem river port terminal in Brazil's Para state and "completely" interrupted operations at the site, the U.S. grain trader said in a statement on Saturday.The protesters forced Cargill employees to evacuate the private terminal on Friday evening, the firm said, adding that it is in contact with local authorities for an eviction to be carried out "in…
Australian Warship Transits Taiwan Strait
An Australian warship sailed through the Taiwan Strait, a government source said on Sunday, in the latest transit of the sensitive waterway by a U.S. ally that Chinese state-backed media said was tracked and monitored by the nation's military.In addition to claiming sovereignty over democratically governed Taiwan, Beijing views the narrow, highly strategic strait as Chinese territorial waters and has responded aggressively on occasion to foreign navies sailing there.The Toowoomba…
Supreme Court Wades in on US-Cuba Business Disputes
The U.S. Supreme Court is set to explore legal questions arising from the fraught history of U.S.-Cuban relations when it considers the scope of a 1996 law that lets U.S. nationals seek compensation for property confiscated by the communist-led Cuban government.The justices hear arguments on Monday in two cases centered on the federal law called the Helms-Burton Act, one involving U.S. oil major ExxonMobil and the other involving the cruise lines Carnival…
Greenland Says “No Thanks” to Trump's Hospital Ship
Greenland's Prime Minister Jens-Frederik Nielsen said on Sunday "no thanks" to U.S. President Donald Trump's idea of sending a hospital ship to Greenland, a territory that Trump has repeatedly said he wishes to take over.Trump said on Saturday on social media he was working with Louisiana Governor and special envoy to Greenland, Jeff Landry, to send a hospital boat to Greenland."President Trump's idea of sending an American hospital ship here to Greenland has been noted.
