Budgets News

Norwegian Cruise Line Holdings forecast annual profit below Wall Street expectations, as demand for its higher‑priced voyages softened amid economic uncertainty and rising geopolitical tensions.Shares of Norwegian fell about 7% in premarket trading, mirroring a broader market selloff sparked by escalating conflict between the U.S. and Israel, and Iran.

Kongsberg Discovery has launched two new variants of its EM2042 multibeam echosounder, extending high-resolution seabed mapping capabilities to deep-rated subsea vehicles and naval operations.The new EM2042 DR600 and EM2042 BNS build on the existing EM2042 platform and its next-generation acoustic architecture, targeting deepwater unmanned platforms and defense environments, respectively.The EM2042 DR600 is engineered for underwater vehicles including autonomous underwater vehicles (AUVs), remotely operated vehicles (ROVs), remotely operated towed vehicles (ROTVs) and submarines.

Interferry is calling for an immediate halt on the further implementation of the EU ETS for the ferry sector, maintaining the surrendering obligation for maritime emissions frozen at the 70% level scheduled for 2025, and halting the planned increase to 100% in 2026. The demand follows the recent decision to continue exempting road transport from a parallel ETS mechanism and the lack of clear regulations on the distribution of the funds collected.“This action must remain in place until road transport is also in an ETS and funds collected are actually ringfenced for maritime decarbonization.

Waterways Council, Inc. released a study by HDR, Inc. (Recommendations for Improving the Delivery of Inland Waterway Capital Projects and accompanying infographic) that examines why costs for U.S. inland waterways capital projects (locks and dams) escalate, timelines for completion continue to slip, and economic benefits to the Nation from projects’ execution are consistently delayed. The U.S. Army Corps of Engineers’ Civil Works mission is responsible for constructing the Nation’s inland waterways infrastructure.

Maritime 2026 opened with a bang between the announcement of Battleships, Venezuela, shadow fleets and yes, U.S. shipbuilding. The commercial building issue may come down to strategic patience or the adaptability to evolve through new technology while ignoring historic, old tactics. The subject requires another year of debate as the line separating the success or failure of Naval and Commercial shipbuilding in the U.S. is slowly becoming a blur. Look towards Naval growth developing in non-traditional patterns … because it has to.With China leading all of the discussions…

With lower emissions and proven reliability, it’s the ready-now solution for cleaner port operations.As demand for cleaner energy grows, port authorities and terminal operators face the challenge of finding environmentally friendly options without increasing budgets or sacrificing productivity. Propane has met these performance criteria at ports for decades, powering everything from terminal tractors and forklifts to shore power and generators. It reduces emissions while ensuring critical operational uptime…

Italy's government has asked parliament to approve a 2.4-billion-euro ($2.82 billion) investment over 15 years for the maintenance and modernisation of its frigate fleet, a parliamentary document seen by Reuters showed.The plan comes as Italy moves to gradually increase its defence spending to comply with higher NATO targets, after the alliance members agreed to a U.S. demand to boost their annual defence budgets to 5% of gross domestic product.The programme, to 2039, is aimed…

With lower emissions and proven reliability, it’s the ready-now solution for cleaner port operationsAs demand for cleaner energy grows, port authorities and terminal operators face the challenge of finding environmentally friendly options without increasing budgets or sacrificing productivity. Propane has met these performance criteria at ports for decades, powering everything from terminal tractors and forklifts to shore power and generators. It reduces emissions while ensuring critical operational uptime…

Small importers for large U.S. retailers rushed in China-made strollers and wares meant for spring and are storing the goods in their own warehouses to avoid the big tariff bills that had been threatened over the next month.Before Sino-American talks on the sidelines of the ASEAN Summit in Kuala Lumpur eliminated the threat of U.S. President Donald Trump's 100% tariffs on Chinese imports starting November 1, importers were expecting to shoulder the staggering levies.In response…

Warship builder TKMS rode a global defence boom to reach a valuation of 6.3 billion euros ($7.35 billion) in its blockbuster stock market debut on Monday, surpassing that of parent and main shareholder Thyssenkrupp.The listing of TKMS is the German conglomerate's latest move to simplify its structure and take advantage of growing demand for defence assets.Shares in Thyssenkrupp, which will keep a 51% stake in TKMS after the spin-off, were down 19% at 1109 GMT, reflecting the transfer of the stake in the naval vessel business…

Carnival Corp raised its annual profit forecast on Monday, leaning on strong demand and higher ticket prices for its cruise vacations to offset mounting costs.The cruise operator has been investing heavily to offer more unique and private experiences by expanding its portfolio to meet strong demand for exclusive destinations. These included a $600 million investment in Celebration Key, an ambitious private resort destination on Grand Bahama, to help maintain its competitive edge.Bundled packages…

Cat Pushes Forward on Hybrid Electric Solutions, Alternative FuelsAs the maritime industry continues its transformation driven by decarbonization mandates, OEMs like Caterpillar are central to paving the path. Will Watson, Marine Product Manager, Caterpillar, discusses latest efforts by the company to unlock the potential with hybrid electric and alternative fuel solutions.Key Takeaways to Caterpillar Marine’s Hybrid Propulsion•Hybrid Propulsion Systems: Diesel + battery solutions…

The military and Coast Guard budgets are established that will benefit the U.S. ship building and repair sector, but what will stimulate the commercial yards?This author has been scratching his head of late, after a thrilling dive into July’s U.S. Big Beautiful Bill Act, and has asked several colleagues where the funding for support commercial shipbuilding can be found? To answer that, we need to look elsewhere and to future programs.Setting the SceneMany column inches have been dedicated to the decline U.S. shipbuilding, whether signaled by the relatively small presence of a U.S.

French high-tech industrial group Exail Technologies on Wednesday reported a 52% rise in second-quarter sales, as geopolitical tensions fuel military spending in Europe.The underwater drone maker reported quarterly revenue of 126 million euros ($148 million), boosted by programmes to counter mines and solid navigation system deliveries."The defense sector is making a significant contribution to commercial expansion, with the signing of numerous sovereign programs during the quarter, particularly in Europe and Asia," the group said in a statement.Exail's shares have leapt almost 500% so far thi

Norwegian engineering group Kongsberg is building up production capacity to meet growing orders for its defence products, especially missiles, as European nations bulk up their military spending.Kongsberg, which has customers in defence, aerospace, maritime, energy and fishing industries, booked orders worth 18.18 billion Norwegian crowns ($1.80 billion) in the second quarter, 5% more than last year, it said on Wednesday.The Defence & Aerospace business made up 54% of those, as…

Siemens Energy has had its hands on a number of groundbreaking ship design and construction projects globally, projects that highlight the possibilities and the challenges inherent in being a technology pioneer. Ed Schwarz, Head of Marine Solutions Sales for Siemens Energy in the US and Canada, give an insider’s view of some practical steps to take if electrification is on an organization’s fleet expansion agenda.Energy transition is everywhere you turn in maritime today, and electric solutions are an important and growing part of the mix…

NR Marine Services has commissioned Chartwell Marine to design a new crew transfer vessel (CTV) in response to client requests for a new class of vessel capable of supporting older generation assets, now referred to as legacy turbines.Chartwell Marine has developed the Defiant Class vessel, a 20-meter CTV designed to Workboat Code Edition 3 with IMO Tier 3 compliance featuring a step free flush forward deck, superstructure and modern furnishings and materials used in larger CTVs.The…

Finland's Wartsila said U.S. tariffs were impacting its battery storage business while rising trade tensions could push back clients' investment decisions, after its quarterly operating earnings missed market expectations on Friday.Shares of Wartsila, which builds ship engines and power plants, fell up to 4.5% in volatile early trading, but flattened by 0940 GMT.Wartsila's CEO Hakan Agnevall told Reuters that he saw no major direct impact from U.S. tariffs on the marine business…

French high-tech industrial group Exail Technologies on Wednesday reported a 519% rise in its order intake in the first quarter of the year, driven by higher defence spending by European governments.The maker of underwater drones and navigation equipment said its order intake for the first quarter totalled 487 million euros ($554.30 million), boosted by a new contract for drone systems worth several hundred million euros.The company did not give further details on the deal, announced in February, when it said it was placed by a "leading Navy".Exail is the latest small defence tech supplier propelled by prospects of a military ramp-up in Europe as the region increases its defence budgets…

US defense company Eureka Naval Craft and Australian marine autonomy specialist Greenroom Robotics are set to unveil what they describe as "the most advanced autonomous naval attack vessel ever designed" at the forthcoming Sea Air and Space Exhibition in Maryland, USA, April 6-9, 2025.The AIRCAT Bengal MC (“Module Carrier”) is a 36m multi-mission Surface Effect Ship (SES) and is being developed by Eureka and ESNA Naval Architects with autonomy and AI software supplied by Greenroom.Eureka Naval Craft CEO…

[The following are exerpts and paraphrasing from testimony given by Matthew O. Paxton, President of the Shipbuilders Council of America (SCA), to Congress on the morning of February 26, 2025.]While maritime strength and shipbuilding historically have been a cornerstone of global power, shifting times and geopolitical pressures impact readiness and output. Today, as the world’s geopolitical landscape shifts, so too does the reality of the U.S. shipbuilding and ship repair industry. In testimony before the U.S. House Armed Services Committee, Matthew O.

Sourcing and maintaining marine coatings systems are arguably a shipowner’s most critical means to ensure a long and productive lifecycle for ships, boats and offshore rigs. At the same time, coatings have become a central part of the ship efficiency, decarbonization discussion. Christer Øpstad, Global R&D Director Fouling Protection, Jotun, discusses how these macro trends are driving R&D within his laboratories today.To start us off, can you provide a ‘by the numbers’ look at Jotun today?Jotun is headquartered in Sandefjord, Norway, still a family-owned company founded almost 100 years ago.

President Donald Trump once again withdrew the United States from the Paris climate deal on Monday, removing the world's biggest historic emitter from global efforts to fight climate change for the second time in a decade.The move places the United States alongside Iran, Libya and Yemen as the only countries in the world outside the 2015 pact, in which governments agreed to limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) above pre-industrial levels to avoid the worst impacts of climate change.It reflects Trump's skepticism about global warming…