Latter News

Venezuela's President Nicolas Maduro has extended an olive branch to U.S. President Donald Trump, proposing serious talks on combating drug trafficking and offering U.S. companies ready access to Venezuelan oil.Maduro said Venezuela was a "brother country" to the United States and a friendly government. He noted that when he and Trump last spoke in November, the U.S. president had acknowledged his authority by addressing him as "Mr. President."The longtime Venezuelan strongman…

Norwegian offshore vessel owner DOF Group has secured a new four-year contract with Petrobras for the remotely operated support vessel (RSV) Skandi Commander.The contract was awarded following the same competitive tender process that led to six previous four-year RSV contracts announced earlier.The Skandi Commander will be equipped with both a Remote Operated Vehicle (ROV) and an Autonomous Underwater Vehicle (AUV), the latter being a unique feature of this agreement.The contract…

Throughout 2025 we have seen the subsea vessel market transitioning from a period of record highs towards a more cautious, but still fundamentally strong, outlook. While short-term activity and rates have softened in the latter part of the year, long-term demand - driven by deepwater projects and global energy infrastructure- remains robust. The market is watching closely how the influx of newbuilds and ongoing corporate consolidation will shape competition and vessel availability…

In 2010, the Monterey Bay Aquarium Research Institute (MBARI) began the process of replacing its research vessel, R/V Western Flyer. With Glosten at their side as vessel designer, MBARI considered three types of ships for their new project. The Western Flyer was a small waterplane area twin hull (SWATH), but the parties agreed on a monohull design for the new vessel. In 2021, Freire Shipyard won the bid to build the vessel, and R/V David Packard came to life.There is no “I” in TeamWill Moon…

Major carrier CMA CGM has announced its INDAMEX service will transit Suez Canal on fronthaul and backhaul voyages between India/Pakistan and US East Coast in a notable step towards a largescale return of container ships to the Red Sea region.The first vessel to complete a full service loop via Suez Canal will be CMA CGM Verdi, sailing from Karachi to New York on 15 January. eeSea by Xeneta data shows voyages via Suez Canal rather than Cape of Good Hope reduces full loop transit time on this service by two weeks…

Ship recycling market economies face an increasingly precariously future, reports cash buyer GMS.“While the Baltic Exchange Dry Index reported gains once again this week on the back of virtually all inclusive sub-sectors reporting improvements of their own through the week, oil futures on the other hand seem to be taking a beating after levels clocked the week out at USD 59.50/barrel after Ukraine successfully carried out a massive drone attack against Russia’s largest oil refinery located at Novorossiysk. The U.S.

Sanmar Shipyards, a leader in the construction of specialized tugboats, has announced the successful delivery of one of its Boğaçay Class tugboats to long-termreturning Italian customer, Rimorchitori Napoletani.The vessel, originally named BOĞAÇAY LXXX, was renamed GARGANO by its new owners. It is a diesel-powered multi-purpose tug designed for demanding operations, including ship-handling, coastal towing, escort, and general duties.Built at Sanmar’s shipyard in Türkiye, the tug is based on the RAmparts 2400SXMKII design…

Terminal operators in a major oil port in east China's Shandong province are set to introduce measures to ban shadow fleet vessels and curb visits by other old tankers, according to an official notice seen by Reuters and a tanker tracker.The measures, to take effect from November 1, would ban vessels using fake IMO numbers and ships of 31 years or older, which traders said would target what is known as the shadow fleet that transports oil under Western sanctions.Four terminal operators at Huangdao Port last week issued the notice…

Terminal operators in a major oil port in east China's Shandong province are set to introduce measures to ban shadow fleet vessels and curb visits by other old tankers, according to an official notice seen by Reuters and a tanker tracker.The measures, to take effect from November 1, would ban vessels using fake International Maritime Organization numbers and ships of 31 years or older, which traders said would target what is known as the shadow fleet that transports oil under Western sanctions.Four terminal operators at Huangdao Port last week issued the notice…

Japan aims to start planning a national floating wind test centre next year, a senior industry official said, vowing to pursue a path of wind power growth despite a recent setback when Mitsubishi quit three projects.Mitsubishi-led consortia 8058.Tdropped plans last month to build 1.8 gigawatt (GW) in three offshore windmills won in Japan's first major state auction in 2021, dealing a blow to the sector seen as key to cutting dependence on imported fuels."We must conduct verification tests in Japanese waters as Japan's ocean and weather conditions differ from those in Europe…

ElbFeeder, a joint venture of the Icelandic transportation company Eimskip and German listed ship-owner Ernst Russ, signed contracts for a pair of 2,280-TEU container vessels with the shipyard China Merchants Jin Ling Shipyard (Nanjing) Co. Ltd. The newbuildings will be an addition to the ElbFeeder joint venture and expand it to a total of nine vessels. Options for two additional vessels were negotiated.The newbuildings will be employed in the Eimskip Blue Line between Reykjavik…

Singapore's Keppel has initiated arbitration proceedings against local shipbuilder Seatrium for a S$68.4 million ($53.33 million) claim related to a corruption crackdown in Brazil, the companies said on Tuesday.In 2023, Seatrium had made provisions worth S$82.4 million to pay Keppel against claims related to the crackdown, named Operation Car Wash.Seatrium noted the obligation to pay Keppel expired in February of this year and there were no binding and legally enforceable agreements signed with the Brazilian authorities before that.Earlier this year…

Dating back to the year 1786, Thomas Jefferson wrote to a member of the Continental Congress on the importance of free press keeping government in check. He was quoted as saying if he had a choice between “a government without newspapers or newspapers without a government, I should not hesitate a moment to choose the latter.”The basis of the statement being that the government is the opinion of the people. It is not in the current U.S. shipping reporting.The first “newspaper” shipbuilding announcements consisted of new legislation capable of delivering us back to our former maritime dominance.

It was at an 18th century Georgian manor house outside London that Japanese lawmaker Rui Matsukawa began to have serious doubts about America’s commitment to defending her country.Matsukawa, a former deputy defense minister, traveled in March to historic Fordham Abbey for a top-level bilateral conference. At the estate, now home to a Japanese-owned sake brewery, she said she learned from British lawmakers, diplomats and business leaders that a tectonic shift in their thinking was underway.U.S. President Donald Trump was openly berating America’s European allies and tilting toward Russia.

On India's southern coast, V. Srinivas thrived for two decades by farming shrimp, as the country became the top supplier of the delicacy to the United States. Now, Donald Trump's 50% tariff threat is forcing many to consider other ways of making money.Andhra Pradesh state sends the most shrimp from India to the U.S. and farmers there have spent millions of rupees (hundreds of thousands of U.S. dollars) over the years to cultivate high-quality shrimp in saline ponds.Now they are being hit hard as Indian exporters have slashed rates they offer farmers by almost 20% after the tariff shock…

The Philippines expressed serious concern on Tuesday over what it described as "dangerous manoeuvres and unlawful interference" by Chinese vessels during a coast guard supply mission for Filipino fishermen in the Scarborough Shoal on Monday."Their actions not only posed a grave danger to Philippine personnel and vessels, but also resulted in the unfortunate collision between the two Chinese vessels," the Philippine foreign ministry said in a statement.A Chinese navy ship collided…

Golden Ocean Group Limited (NASDAQ: GOGL; Euronext Oslo Børs: GOGL) has issued an update on its planned stock-for-stock merger with CMB.TECH NV (NYSE: CMBT; Euronext Brussels: CMBT), confirming the transaction could close as early as August 20, 2025.Under the agreement, Golden Ocean will merge with CMB.TECH Bermuda Ltd., a wholly owned subsidiary of CMB.TECH, with the latter as the surviving entity. Golden Ocean shareholders will receive 0.95 newly issued ordinary shares of CMB.TECH for each Golden Ocean common share, subject to customary adjustments.

Green hydrogen developers are cancelling projects and trimming investments around the world, raising the prospect of longer than targeted reliance on fossil fuels.The challenges facing the sector have exposed its initial ambitions as unrealistic.Hard-to-electrify industries that were seen as ideal candidates for green hydrogen, such as steelmaking and long-distance transportation, have found that transition to the low-carbon fuel looks prohibitively expensive.The gap between ambition and reality in Europe shows the extent of the reset happening within the industry…

Saipem achieved a semester of further growth, confirming the constant progression in operating and financial performance over the last three years which enabled, in the month of May, the distribution of the largest dividend in the company's history.Revenue stood at USD$8.47 billion (€7.2 billion), and EBITDA reached USD$898 million (€764 million), the latter growing by 35% compared to the first six months of last year.

Bernhard Schulte Offshore announced the delivery of its latest Commissioning Service Operation Vessel (CSOV) from Ulstein Verft in Norway. The newbuilding, which was christened ‘Windea Curie’ on June 26, is now being deployed for the charterer TenneT, an offshore transmission system operator in the European Union, to support its offshore grid connection facilities in the North Sea.‘Windea Curie’, which utilizes Ulstein’s TWIN X-STERN design, features two sterns and azimuth propellers located at both fore and aft…

Former Iranian Economy Minister Ehsan Khandouzi has said that tankers and LNG cargoes should only transit the Strait of Hormuz with Iranian permission and this policy should be carried out from "tomorrow [Wednesday] for a hundred days."It was not immediately clear whether Khandouzi was echoing a plan under theIranian establishment's consideration or sharing his personal opinion.Tehran has long used the threat of blocking the narrow waterway as a means to ward off Western pressure, without acting on its threats.

Denmark-based chemical and product tanker operator Uni-Tankers reported solid financial performance for the 2024/25 fiscal year, posting a net profit of $39.5 million and a 24.4% increase in revenue, bolstered by fleet expansion, strong contract performance, and continued investment in digitalization and decarbonization.CEO Per Ekmann called the results a confirmation that the company’s long-term strategy is delivering consistent value. “It has been four years since we completed our turnaround, and for the past three years we’ve reported steady profits.

Davie, a leader in icebreaker and specialized vessel construction, announced plans to acquire shipbuilding assets in Galveston and Port Arthur from Gulf Copper & Manufacturing Corporation — marking a major step toward revitalizing large-scale shipbuilding of icebreakers in the United States. The move underscores growing momentum behind domestic production of ice-capable vessels and aligns with U.S. maritime security and industrial revitalization goals.The deal, expected to close in summer 2025…