Turkey, Ethiopia to Cooperate on Energy Projects
Turkey and Ethiopia signed a memorandum of understanding on energy cooperation during a visit by President Tayyip Erdogan to Addis Ababa on Tuesday, the Turkish Energy Ministry said, adding the accord would lead to joint production and projects.Erdogan held a one-day visit to Addis Ababa on Tuesday upon Prime Minister Abiy Ahmed's invitation, his first to Ethiopia in 11 years.The accord was signed at a ceremony after talks between the two leaders.
Czechia Offers Limited Oil to Slovakia After Ukraine Pipeline Attack
The Czech Republic is offering small volumes of oil to Slovakia through an eastward flow of the Druzhba pipeline after westward flows from Ukraine were stopped after an attack on the pipeline last month, Czech Economy Minister Karel Havlicek said on Tuesday.The Czechs stopped using Russian supplies via Druzhba last year after expanding an alternative route, and have mentioned reversing the flow of the Czech section of the pipeline to Slovakia as a theoretical possibility.Havlicek told Reuters a
Boksa Marine Design Announces Leadership Transition, Florida Expansion
Boksa Marine Design (BMD), a full-service naval architecture and marine engineering firm based in Tampa, announced a strategic leadership transition and the opening of a new Fort Lauderdale, FL, office.After more than 20 years as Founder and President, Nick Boksa will transition into the role of Chief Executive Officer (CEO) and Senior Engineer. In this capacity, Boksa will focus on technical leadershipā¦
Janus, Raven Defense Build High-Tech "Wall of Steel"
Two American defense firms are striking a strategic agreement to build a high-tech "wall of steel" to support the US Navy, commercial shipping and offshore operations in the Caribbean and Gulf of America.The partnership sees South Carolina-headquartered marine autonomy specialist Janus Marine & Defense join forces with New Mexico-based US Department of War RF Systems contractor Raven Defense Corporation.
EU: Hungary, Slovakia to See No Short-Term Oil Supply Risk
The European Commission sees no short-term risk to the security of oil supplies in Hungary or Slovakia following the disruption of Russian oil flows via Ukraine because both EU countries have ample emergency stocks, a Commission spokesperson said on Tuesday.Slovakia's government also said its domestic fuel supply was not under threat, alleviating fears of an immediate fuel crunch after Kyiv's foreignā¦
UK Maritime Agency Report Warning Shots Fired at Yemen Port
A UK maritime agency said that an incident involving a vessel and small boats around 70 nautical miles southwest of Yemen's port of Aden on Tuesday had been downgraded to "suspicious activity" as only warning shots were fired.The United Kingdom Maritime Trade Operations had earlier said it received a report of an exchange of small-arms fire after a vessel was approached and hailed by a white skiff with five people on board.In an updateā¦
Op/Ed: Arctic Ice is a U.S Shipbuilding Thermostat ā Letās Turn Up the Heat
In December of 2025, the U.S. Coast Guard announced the award of two contracts to build up to six Arctic Security Cutter (ASC) icebreakers. The announcement declaring the vessels would be built between the United States and Finland in a major step forward for Americaās national security in the Arctic region. The decision process encompassed more than the security of the Arctic passage. It announces a major shift in the U.S. Shipbuilding process.
Performance Shipping Inc. Announces Sale of M/t P. Sophia for $35.65m
Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that, through a separate wholly-owned subsidiary, it has signed a Memorandum of Agreement to sell its oldest vessel, the 2009-built, 105,071 dwt Aframax tanker vessel, M/T P. Sophia, to an unaffiliated third party for a gross sale price of $35.65 million. The vessel is expected to be delivered to her new owners in mid-2026, subject to customary closing conditions.The M/T P.
Teledyne Valeport Sponsors UK River Conservation Charity
Teledyne Valeport has announced a year-long sponsorship of UK-registered charity Westcountry Rivers Trust (WRT), which protects, conserves, and restores rivers across the South West.The funding, from the manufacturer of oceanographic and hydrographic instruments, will be used to deliver educational workshops, field-based conservation sessions, and career-focused engagement opportunities in the environmental sector.Building on more than five decades in environmental measurementā¦
MacGregor to Supply Cargo Access, Deck Machinery for BC Ferriesā Newbuilds
MacGregor has been selected to supply cargo access solutions and deck machinery for four new major vessels under BC Ferriesā fleet renewal program.The next-generation vessels, to be built at China Merchants Industry (CMI) Weihai Shipyard, are designed as diesel-battery hybrid, all-electric ready ships intended for BC Ferriesā busiest routes between Vancouver Island and the Lower Mainland in Canada.MacGregorā¦
Arctic Shipping Increased to Record High in 2025
The number of ships operating in the Arctic reached a record high in 2025, according to new data from the Arctic Council Working Group on the Protection of the Arctic Marine Environment (PAME). The Working Group has been tracking Arctic shipping traffic trends since 2013 utilizing its Arctic Ship Traffic Data (ASTD) System.In 2025, 1812 unique ships entered the Arctic Polar Code area. This is a 40% increase from 2013 when data collection began.
Yanmar Prepares for Hydrogen Engine Production
Yanmar Power Solutions has acquired a site in Amagasaki City, Japan, to conduct test runs of marine hydrogen engines.The company says it will develop and build powertrains that can be used with next-generation fuels such as hydrogen, methanol, and ammonia, at the new facility.The complex will enable the company to reorganize its production system, including existing factories, and strengthen its capabilities. It is scheduled to begin operations around March 2029.
Ship Recycling Market Quiet Ahead of Chinese New Year
The second week of February brought on a really confusing spin to the markets, with fundamentals across the board performing bizarrely (compared to last weekās performance), reports cash buyer GMS.āAfter a volatile beginning to the month, the Baltic Exchange Dry Index and even oil futures found steady ground this week, while even the U.S. Dollar firmed against all ship recycling nation currencies except India (aināt that a switch)ā¦
ICS Responds to US Maritime Action Plan
The International Chamber of Shipping issued the following statement in response to the recent publication of the US Maritime Action Plan:āThe International Chamber of Shipping (ICS) acknowledges the U.S. Governmentās Maritime Action Plan and its stated position to revitalize and expand domestic shipbuilding and maritime capacity in the United States.āICS supports the objective of increasing U.S. shipbuildingā¦
Foreign Fishers Caught off Australia Thanks to Tip-Off
The Australian Border Force (ABF) has seen early results under Operation BROADSTAFF, intercepting two foreign fishing vessels in northern Queensland and the Torres Strait over the weekend before illegal fishing activity could occur.Launched last week, Operation BROADSTAFF is designed to deter, detect and disrupt illegal foreign fishing in Australian waters.On 14 and 15 February 2026, during intelligence led patrolsā¦
ClassNK, Prevention at Sea to Deliver Dry Bulk Management Standard Training
ClassNK and Prevention at Sea have announced a strategic collaboration aimed at delivering Dry Bulk Management Standard (DryBMS) training to shipping companies worldwide.Both parties have agreed to explore future synergies and expanded cooperation in related areas, including gap analysis and benchmarking of Safety Management Systems (SMS) against DryBMS requirements and other key maritime standards such as RightShip RISQā¦
GTT Receives Tank Design Order from Jiangnan Shipyard
GTT has received an order from the Jiangnan shipyard for the tank design of four new LNG carriers on behalf of Shandong Marine Energy, the ship-owner.GTT will design the cryogenic tanks which will each offer a total capacity of 175,000m³. The tanks will be fitted with the Mark III Flex membrane containment system developed by GTT.Delivery of the vessels is expected between the third quarter of 2028 and the fourth quarter of 2029.
Hungary, Slovakia Turn to Croatia to Secure Russian Oil
Hungary and Slovakia have asked Croatia to help them secure Russian oil and Hungarian company MOL initiated the release of strategic crude reserves after disruption to flows via Ukraine that the two countries have blamed on Kyiv.Kyiv's foreign ministry last week said a Russian attack on a Ukrainian pipeline was responsible for the halt in flows to Eastern Europe since January 27.Ukrainian Foreign Ministerā¦
Trump Calls Out California, UK Energy Deal
President Donald Trump denounced a clean energy agreement between the United Kingdom and California Governor Gavin Newsom hours after it was signed on Monday, Politico reported.In an interview with the outlet, Trump said it was "inappropriate" for Britain to be dealing with the Democratic governor. Trump, a Republican, also branded Newsom "a loser," saying "his state has gone to hell, and his environmentalā¦
Oil Prices Increase 1% Ahead of US-Iran Talks
Oil prices edged up on Monday as investors weighed the market implications of upcoming U.S.-Iran talks aimed at de-escalating tensions against a backdrop of expected OPEC+ supply increases.Brent crude futures settled 90 cents, or 1.33%, higher at $68.65 a barrel. U.S. West Texas Intermediate crude was at $63.75 a barrel, up 86 cents, or 1.37% at 2:14 p.m. EST (GMT 1914). The contract did not have settlement on Monday because of the U.S.
