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.
Wilson Sons Launches Tugboat to Operate in Port of Santos
Wilson Sons, a port and shipping logistics operator with over 188 years of experience, has held the launch ceremony of WS Capella, the second tug of a new range of three high-powered tugboats.Just like WS Halcyon, baptised in January this year, WS Capella was built at the company's shipyard and is also an ASD 2312 class tug (23 meters long, 12 meters wide). With azimuth thrusters, 70-ton bollard pull…
Historic Settlement Finalized for Dali Allision with Francis Scott Key Bridge
Maryland Attorney General Anthony G. Brown has announced that the State of Maryland has reached a final settlement of $2.25 billion with Grace Ocean Private Limited and Synergy Marine Pte Ltd., the owner and operator of the M/V Dali, resolving the State’s claims against those parties arising from the cargo ship’s March 26, 2024 allision with the Francis Scott Key Bridge. On the morning of March 26…
ABS and HHI to Advance Energy Solutions
ABS and HD Hyundai Heavy Industries (HHI) have signed a memorandum of understanding (MOU) to collaborate on a range of initiatives supporting sustainability, digital innovation and operational resilience in the maritime and offshore sectors, with a particular emphasis on accelerating the development of next-generation energy solutions.The scope of cooperation includes offshore wind development, offshore substations…
Upstream Oil, Gas Dealmaking in the US Hits Two-Year High
Dealmaking in the U.S. upstream oil and gas sector jumped to $38 billion in the first quarter of this year, marking the highest quarterly total in two years, analytics firm Enverus said on Wednesday.Shale producer Devon and smaller rival Coterra closed on their merger last week after announcing plans to combine in February.
Bezeq Telecom Deploys Subsea Internet Cable
Bezeq Israel Telecom has begun to deploy a fast-speed Internet subsea cable aimed at connecting Europe to Asia that its chairman says could ultimately reduce dependency on the Strait of Hormuz.Some 17% of global broadband goes through Hormuz, mostly from Qatar and India, and the new cable project would "solve some of the congestion that some of the Gulf countries currently have in the Strait of Hormuz…
Families of Pakistani Hostages Call for Rescue from Somali Pirates
Ambreen Fatima protested in Karachi with her children on Wednesday for the release of her husband, one of ten Pakistani crew aboard an oil tanker seized by Somali pirates 23 days ago, and who is now drinking dirty tank water to survive, she said.The MT Honour 25, a Palau-flagged product tanker, was seized on April 21 approximately 30 nautical miles off Somalia's Puntland region with 17 crew members aboard…
Techcross Introduces the Siemens NX/PLM System
Techcross held a signing ceremony on May 13 with Siemens Industry Software at Techcross Busan factory together with Space Solution, a company specializing in PLM software development and consulting. Through this project, Techcross became the first company in the marine equipment industry to introduce the Siemens NX/PLM system, initiating the establishment of an Al-driven workflow based on a digitally integrated platform.Based on the technological experise accumulated through the development…
China Connected VLCC Exits Strait of Hormuz, Stops in Oman
A Chinese supertanker carrying two million barrels of Iraqi crude sailed through the Strait of Hormuz on Wednesday after being stranded in the Gulf for more than two months due to the U.S.-Iran war, LSEG and Kpler ship-tracking data showed.The VLCC Yuan Hua Hu is now anchored off the Gulf of Oman, near where the U.S. Navy has set up a blockade on Iranian vessels, LSEG data showed.The crossing comes as U.S.
Trey Stolz Named as Guice Offshore CFO
Guice Offshore, a leader in the offshore maritime mini supply vessel specialty market, announced the appointment of veteran energy finance executive Trey Stolz as Chief Financial Officer. Stolz brings more than 20 years of experience as an investment banker and equity research analyst focused on the oilfield services industry. He has spent the past nine years in senior operational roles within the sector, most recently serving as CFO for a consolidator of oilfield services companies.
Kongsberg Maritime New Engine Room Simulator Model Receives DNV Compliance
Kongsberg Maritime has received a DNV Simulator Statement of Compliance for its new Engine Room Simulator (ERS) model based on Höegh Aurora (CO₂ Pilot), a flagship vessel in Höegh Autoliners’ Aurora Class.The approval follows a full demonstration and audit of the simulator model, confirming compliance with DNV’s maritime simulator requirements and validating the model’s fidelity for advanced training applications.The Aurora Class represents a step change in sustainable deep-sea shipping.
Awake.Al, Tidalis Collaborate for Maritime Emissions Reporting
As European and international shipping emissions rules continue to expand, maritime technology companies Awake.Al and Tidalis have announced a partnership focused on emissions monitoring and reporting for ports and shipping companies. The collaboration links operational port-call data with existing maritime operational systems to support automated emissions reporting.Awake.Al's emissions monitoring…
Anemoi’s Wind-Assisted Rotor Sails Pass Eight-Year Operational Milestone (Video)
Anemoi Marine Technologies’ Rotor Sail wind-assisted propulsion system has completed more than eight years of continuous commercial operation after M/V Afros successfully passed its second intermediate dry dock survey.The survey, conducted by Lloyd’s Register in China in April, confirmed the structural integrity and operational condition of the vessel’s four Rotor Sails, Anemoi said.The 64,000-deadweight…
Tech Feature: Coatings & Corrosion Control
How Electrostatic Technology Moves from Experiment to Reality Shipyards face mounting pressure to align with the maritime industry’s decarbonization goals. As vessel owners and operators explore alternative fuels, better hull designs and route optimization to cut emissions, shipyards reevaluate their own practices to keep pace. One area of focus includes the coatings application. Among emerging innovations…
Shipping’s Data Problem: From Overload to Insight
Vessel owners of every size, shape and locale today face a mounting opportunity and challenge: effectively utilizing all of the data coming from their vessels, their fleets, and putting that information to work to make maritime operations more efficient and profitable.At “The Business of Shipping” panel on Day 1 of the Connecticut Maritime Association’s Shipping 2026 conference, a senior executive…
DEME Names Norse Energi as Offshore Wind Installation Fleet Expands
Belgian offshore contractor DEME has officially named its new jack-up offshore transport and installation vessel, Norse Energi, strengthening its offshore wind installation fleet alongside sister vessel Norse Wind.Norse Energi wind turbine installation vessel (WTIV) is soon expected to begin operations in the Baltic Sea and North Sea.The initial assignments include Iberdrola’s Windanker offshore wind…
EnergyPathways, ABP Partner on Energy Storage Project at Port of Barrow
EnergyPathways has signed a collaboration agreement with Associated British Ports (ABP) to evaluate the Port of Barrow in northwest England as a location for onshore facilities linked to its Marram Energy Storage Hub (MESH) project.The AIM-listed company said the MESH project, located in the Irish Sea, is expected to combine compressed air energy storage with natural gas and hydrogen storage using subsea salt caverns.According to EnergyPathways…
Petronas Signs 20-year Charter Deal with MISC for Five LNG Carrier Newbuilds
Petronas LNG (PLL) has signed a 20-year time charter agreement with MISC Group for five newbuild liquefied natural gas (LNG) carriers as the Malaysian energy company strengthens long-term LNG supply capacity.The agreement covers five 174,000-cubic meter LNG carriers that will be built by Hudong-Zhonghua Shipbuilding in Shanghai, China, with charter commencements expected between 2029 and 2030.The vessels will feature XDF2.1 propulsion technology…
Hapag-Lloyd Swings to Loss on Hormuz Disruptions, Weak Freight Rates
German shipping group Hapag-Lloyd on Wednesday reported a first-quarter loss, citing the impact of lower freight rates and operational disruptions stemming from severe weather conditions and the blockage of the Strait of Hormuz on the back of the Iran war.The group posted a net loss of 219 million euros ($257.00 million) compared to a profit of 446 million euros in the first three months of 2025.Hundreds of commercial vessels and up to 20…
