Akastorās DDW Offshore Agrees Sale of AHTS Vessel for $23M
Akastorās subsidiary DDW Offshore has entered into a binding agreement to sell Skandi Emerald anchor handling tug supply (AHTS) vessel for $23 million.The AHTS, built in 2011, is designed for operations across a range of water depths and environmental conditions.Completion of the transaction is subject to customary conditions and is expected in the second quarter of 2026.Following the sale, DDW Offshoreāsā¦
Seatrium Wraps Up Tugboat Fleet Divestment
Seatrium has completed the divestment of its fleet of 17 tugboats in Singapore, following an earlier announcement in February.The company said the transaction was completed on April 24, 2026.The divestment, along with other non-core asset sales, is expected to deliver more than $39.1 million (S$50 million) in annualized cost savings.The tugboats were sold in January 2026 for $81.5 million (S$104 million) through Seatrium Marine Services to KST Maritime and its affiliate Maju Maritimeā¦
Shearwater to Sell SW Baret for Conversion to Source Vessel
Shearwater Geoservices has agreed to sell the vessel SW Baret to an undisclosed buyer for conversion into a dedicated source vessel.The agreed sales price exceeds the vesselās carrying book value and is expected to result in a gain in Shearwaterās accounts, as well as a positive impact on liquidity, the company said.Completion of the transaction is expected late in the second quarter of 2026.The vesselā¦
Suspected Pirates Take Control of Ship Off Somalia
Suspected pirates have boarded a St. Kitts and Nevis-flagged general cargo vessel off Somalia's waters and were sailing it towards the Somali coastline, British maritime security groups Vanguard and Ambrey said.Somali pirates caused havoc in the waters off the Horn of Africa nation's long coastline between 2008 and 2018. After a lull, pirate activity started to pick up again in late 2023.Vanguard said in a note late on Sunday it was aware of reports that armed pirates had hijacked the vesselā¦
Hanwha Ocean Flags Rising Uncertainty Over Ship Demand
South Korean shipbuilder Hanwha Ocean said in its first-quarter earnings presentation on Monday that uncertainty is rising over demand for commercial vessels due to the ongoing conflict in the Middle East.The market for very large crude carriers (VLCCs) has been hit hard by the Iran war, the company said, as shipping rates have soared with some crude carriers stuck in the Strait of Hormuz.The demand for container vessels is forecast to decline as worries mount over inflation and the slow growth
LNG Tanker Orders Pick Up Despite Shipping Uncertainty
Global orders to build liquefied natural gas carriers (LNGC) are set to rebound this year after a 2025 slump as growing LNG output and vessel fuel efficiency drive demand, industry executives and analysts say.The rise in orders is offsetting concerns that supply disruptions from the U.S.-Iran war may reduce near-term shipping demand and pressure freight rates.Since late last year, shipbuilders in South Korea and China have received more ordersā¦
Singapore MPA Renews Partnership with Shanghai Maritime University
The Maritime and Port Authority of Singapore (MPA) and Shanghai Maritime University (SMU) have signed a Memorandum of Understanding (MoU) to deepen cooperation in maritime talent development and knowledge exchange.Started in 2020, this partnership supports exchanges of students and maritime professionals and facilitates participation in high-level seminars and knowledge sharing platforms.Since 2023ā¦
Green Shipping Service Launched in Singapore
Pacific International Lines (PIL) and PSA International (PSA), supported by DNV, have launched Singaporeās first joint land-sea green value-added service for cargo transhipped through the Port of Singapore.The new service enables participating shippers and cargo owners to achieve verifiable emissions reductions through the allocation of carbon reductions generated from the use of lower-carbon fuels across multiple modes of transportation within the logistics, shipping and port operations.
IMO: No Safe Passage Through Strait of Hormuz
IMO Secretary-General Arsenio Dominguez has called on all member states to support efforts to address the situation in the Strait of Hormuz, where around 20,000 seafarers remain trapped and unable to leave.In an informal briefing to member states and industry representatives,āÆDominguezāÆconfirmed thatāÆseveralāÆvessels had been seizedāÆand detainedāÆin the regionāÆover the past few days. He urged maximum cautionā¦
Saronic to Collaborate with Taiwan on ASVs
Saronic Technologies has entered into a Memorandum of Understanding (MoU) with Taiwanās National Chung-Shan Institute of Science and Technology (NCSIST) to explore collaboration on advancing AI-enabled maritime capabilities, including autonomous surface vessels (ASVs), to help address evolving security challenges in the maritime domain.NCSIST serves as Taiwanās leading defense research and development institution and plays a central role in strengthening Taiwanās defense industrial base.
US Intercepts Sanctioned Tanker in Arabian Sea
U.S. Central Command said it intercepted a merchant vessel trying to get through the blockade of Iran on Saturday.The ship, identified as the Sevan, was part of a 19-vessel "shadow fleet" transporting Iranian oil and gas products to foreign markets, the U.S. military said.Central Command said it was intercepted in the Arabian Sea by a U.S. Navy helicopter from the guided-missile destroyer USS Pinckney and was "currently complying with U.S.
Massachusetts Maritime Academy Professors Honored at IACBE Conference
Massachusetts Maritime Academy, a public university with undergraduate degree programs focusing on science, engineering, technology, math, and business that blend academics and experiential learning is proud to announce that International Maritime Business Professors Bhani Ghosh and Paul Szwed recently presented at the International Accreditation Council for Business Education (IACBE) conference in Salt Lake City, Utah.
Oil Prices Unstable Ahead of Uncertain US-Iran Peace Talks
Oil prices zig-zagged between negative and positive territory on Friday as traders weighed supply disruptions against the potential restart of peace talks between the U.S. and Iran that could help limit those disruptions.Prices rose 2% earlier in the day on fears of renewed military escalation in the region after Iran released footage on Thursday of commandos boarding a cargo ship in the Strait of Hormuzā¦
EU Continues to Push for Shipping Carbon Levy
European Union countries agreed on Friday to keep pushing for a global price on shipping's CO2 emissions in U.N. talks next week, setting up another potential clash with the United States over the proposal.Governments at the International Maritime Organization decided last year to postpone the climate plan by a year, after the Trump administration strongly opposed the measure and threatened to imposeā¦
China Conducts Live-Fire Drills Near Luzon Island as US, Philippines Hold Annual Military Exercises
China conducted military drills recently including live-fire exercises in waters east of the Philippines' Luzon Island, it said on Friday, as Manila and Washington host annual drills that extend towards disputed areas of the South China Sea.Over 17,000 troops from the U.S., the Philippines and allies began their annual Balikatan military exercises this week, with combat troops from Japan joining forā¦
Coast Guard Offloads $19.3m of Illicit Drugs Seized in the Caribbean Sea
U.S. Coast Guard Cutter Resoluteās crew offloaded approximately 2,570 pounds of cocaine worth more than $19.3 million and transferred six suspected drug smugglers to federal authorities, Thursday, at Base Miami Beach.The seized contraband was the result of three interdictions in the Caribbean Sea by the crew of the Coast Guard Cutter Tahoma and the crew of the USS Billings with an embarked Coast Guardā¦
Njord Survey Inks Equinor Pipeline Inspection Deal in Europe
Njord Survey has secured a three-year framework agreement with Equinor for pipeline inspection and integrity work across European waters.The contract includes an option to extend for one additional year and covers geophysical surveys and offshore operations.Njord Survey said the agreement builds on previous collaborations and will support offshore operations through high-resolution surveys and vesselā¦
ABS, PIL to Collaborate on Emissions Verification for Marine Fuels
The American Bureau of Shipping (ABS) and Pacific International Lines (PIL) have signed a memorandum of understanding to collaborate on emissions verification linked to alternative marine fuels.The agreement supports PILās participation in book and claim registries, aimed at enabling independently verified claims of emissions reductions.Under the arrangement, ABS will act as an independent third-party verifier of PILās fuel consumptionā¦
ABS Signs Pact with Fleet Robotics on Maritime Robotics
The American Bureau of Shipping (ABS) and Fleet Robotics have signed a memorandum of understanding to collaborate on autonomous robotic systems for hull cleaning and inspection.The agreement, announced at Singapore Maritime Week, aims to support the deployment of robotic systems for vessel maintenance.āIt is an honor to work alongside Fleet Robotics to advance autonomous robotic systems for the industry.
Helix, Hornbeck Merger to Form āPremierā Offshore Services Company
Helix Energy Solutions and Hornbeck Offshore Services have agreed to combine in an all-stock transaction to create an integrated offshore services company.Under the agreement, Hornbeck shareholders will own about 55% of the combined company, while Helix shareholders will hold around 45%.The combined company will operate under the Hornbeck Offshore Services name and trade on the New York Stock Exchangeā¦
