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.
