Caturus Takes FID on Commonwealth LNG Project in Louisiana
Caturus has taken a final investment decision on its Commonwealth LNG export project in Louisiana after securing $9.75 billion in project financing for the 9.5 million tonnes per annum facility, with partners Mubadala Energy, Kimmeridge and CPP Investments.The companies said the financing supports construction of the LNG export terminal in Cameron Parish, Louisiana, with total commitments for the project…
Oil Prices Rise Amid Fears of Ship Attacks and Seizures
Oil prices rose Friday as market concerns persisted over ship attacks and seizures despite Iran saying about 30 vessels had passed through the Strait of Hormuz, while the U.S. and Chinese presidents were set for a second day of talks in Beijing.Brent crude oil futures LCOc1 rose 60 cents, or 0.57%, to $106.32 a barrel by 0100 GMT, while U.S. West Texas Intermediate futures CLc1 were up 54 cents, or 0.53%…
Somali Piracy on the Rise
Palaemon Maritime’s maritime security report this week points to some of the clearest indicators yet that piracy activity off Somalia is escalating again.“Taken alone, these incidents might appear isolated. Taken together, they point to something more important: the conditions that enable piracy are building again in the Western Indian Ocean.”Most recently, Palaemon cites a possible hijacking of a dhow off the southern Somali coast…
AI Technology Boosts FarSounder Navigation Capabilities
FarSounder has expanded the capabilities of its Argos Forward Looking Navigation Sonar (FLS) with an integration with Tocaro Blue’s ProteusCore™ software.This new integration brings AI-powered radar perception to FarSounder’s SonaSoft™ LT navigation software, delivering greater situational awareness for users navigating challenging marine environments.ProteusCore transforms marine radar into an intelligent perception sensor capable of detecting…
Wide Barge Could Reduce Crane Needs for Turbine Foundation Installation
The substructures for fixed offshore wind turbines weigh thousands of tonnes. Only about five vessels in the world can lift that much weight. So now researchers are testing an alternative: an unusually wide barge.Using experience gained from the oil and gas industry, Aker Solutions, the Belgian contractor Sarens, and the maritime group BOA recently spent time at SINTEF’s Ocean Basin in Trondheim. There…
Australia Shortlists Renewable Hydrogen Projects for Funding Support
The Australian Renewable Energy Agency (ARENA) has announced the shortlisted projects for Round 2 of the Hydrogen Headstart Program, marking a major step forward in scaling Australia’s renewable hydrogen industry. The projects selected to progress to the next stage in the application process are some of the most advanced large-scale renewable hydrogen proposals in the country, spanning multiple states and a range of end uses…
Ship Seized by Iran Off UAE, Trump Discusses Hormuz Shipping Lanes with Xi
A ship was reported seized by Iranian personnel off the United Arab Emirates and headed for Iranian waters on Thursday while the White House said U.S. President Donald Trump and Chinese President Xi Jinping had agreed on the need to keep the nearby Strait of Hormuz shipping lane open.China is close to Iran and is the main buyer of its oil. Iran has largely shut the strait to ships apart from its own since the U.S.-Israeli war on Iran began on February 28…
India-Flagged Cargo Vessel Sinks Off Coast of Oman After Suspected Attack
India said on Thursday that an Indian-flagged wooden cargo vessel had sunk while sailing through Omani waters following a fire from a suspected drone or missile strike.The vessel is the second to have been sunk in the region since the Iran conflict began on February 28. The war has left hundreds of ships stranded and 20,000 seafarers unable to leave the Strait of Hormuz waterway that leads out into…
US Import Costs Rise in April, Fuel Sees Biggest Gain in Four Years
U.S. import prices surged in April, with the cost of fuels posting the largest increase in four years, another indication that the U.S.-backed war with Iran was boosting inflation.Import prices increased 1.9% last month after an upwardly revised 0.9% rise in March, the Labor Department's Bureau of Labor Statistics said on Thursday. Economists polled by Reuters had forecast import prices, which exclude tariffs…
Malaysia Seeks Compensation From Scrapped Norwegian Defense Deal
Malaysia's defence minister said on Thursday the country planned to claim compensation and was considering legal action over Norway's decision to revoke export approvals for a naval strike missile (NSM) system intended for Malaysian combat ships.In an escalating diplomatic row, Defence Minister Mohamed Khaled Nordin said the government had already paid nearly 95% of the contract value when Norway pulled the approvals in March…
FMC Opens Applications for New NSAC Members
The Federal Maritime Commission is seeking applications for new members for the National Shipper Advisory Committee (NSAC).NSAC is a federal advisory committee that provides information, insight, and expertise pertaining to conditions in the ocean freight delivery system to the Commission. The Committee advises the FMC on policies relating to the competitiveness, reliability, integrity, and fairness…
NexusWave Implemented on IEA Fishing Vessels
Inmarsat Maritime, a Viasat company, has worked with its Argentinian partner Ingenieros Electrónicos Asociados (IEA) to implement NexusWave for Glaciar Pesquera to support the fishing company’s fleetwide targets to achieve greater operational efficiency and enhanced crew welfare.As a fully managed, bonded multi-network service, NexusWave delivers the cost and performance predictability Glaciar requires to meet its data-intensive commercial and crew connectivity needs.
Lloyd’s Register Foundation to Tackle Corporate Accountability Across Ocean Industries
Global charity Lloyd’s Register Foundation has just announced a new USD$674,000 (£500,000) project to tackle inconsistent worker safety and corporate accountability standards.C4Safe, led by Lancaster University, will create the first corporate‑focused reporting and accountability toolkit designed specifically for ocean‑related sectors. It will bring clarity, consistency, and practical guidance to companies…
bound4blue Targets LNG Carrier Market through Cryosafe Partnership
Spanish wind propulsion company bound4blue has signed a partnership agreement with LNG consultancy provider Cryosafe Services to support the application of its eSAIL wind propulsion technology on LNG carriers.The companies said they would collaborate on evaluating eSAIL integration and configuration options for LNG vessels, including operational factors such as vessel air draft, cargo operations, gangway…
Taihan Buys Cable Laying Vessel from DOF
Taihan Cable & Solution has acquired a second cable laying vessel (CLV) from DOF Group to strengthen its offshore wind and subsea power cable installation capabilities amid growing global demand for grid interconnection infrastructure.The South Korean company signed a vessel sale and purchase agreement with DOF for the 10,000-ton-class cable-laying vessel Skandi Connector, which is scheduled for delivery…
NYK Test Aims to Tame 'Methane Slip'
NYK has conducted its first onboard measurement in a demonstration test of a methane oxidation catalyst system for marine engines fueled by liquefied natural gas (LNG).This demonstration test is being carried out in collaboration with Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. (MHI-MME), Mitsubishi Shipbuilding Co., Ltd. (MHIMSB), and DAIHATSU INFINEARTH MFG.CO.,LTD. (IE).The catalyst system has been installed on the LNG bunkering vessel KEYS Azalea…
Cadeler Installs First Monopile at Ørsted’s Hornsea 3 Offshore Wind Farm
Cadeler has completed the installation of the first fully commissioned monopile foundation at Ørsted’s Hornsea 3 offshore wind farm in the UK, marking a major milestone in the execution of one of the world’s largest offshore wind developments.The installation is the first of 197 monopile foundations Cadeler will transport and install as part of the company’s full transportation and installation (T&I) scope for the project.Once completed…
Japan Secures Second Oil Tanker Passage Through Strait of Hormuz
A Panama-flagged crude oil tanker managed by Japanese refining group Eneos has passed through the Strait of Hormuz, ship-tracking data from LSEG showed on Thursday, the second instance of such a Japan-linked oil ship making it through.Prime Minister Sanae Takaichi has directly contacted Iranian President Masoud Pezeshkian to allow for the transit of the ship, which has four Japanese crew members onboard…
Oil Edges Higher as Markets Watch US-China Summit
Oil prices edged up on Thursday, with markets focusing on the high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping to see if it will yield any positive results towards a resolution for the Iran war.Trump is expected to encourage China to convince Tehran to make a deal with Washington to end the conflict, but analysts doubt that Xi will be willing to push China's long-time strategic partner too hard.Brent crude futures LCOc1 were up 45 cents…
Davie Defense Finalizes Contract for U.S. Coast Guard Arctic Security Cutters
Davie Defense has finalized a $3.5 billion contract with the United States Coast Guard (USCG) for the construction and delivery of five Arctic Security Cutters (ASC), a new class of Arctic icebreaker.Two of the ships will be constructed at Davie Defense affiliate Helsinki Shipyard in Finland and three ships will be constructed at the company's Gulf Copper facilities in Galveston and Port Arthur, Texas.
