Long Term News

Union Maritime has taken delivery of what it said is the world’s first long-range 2 (LR2) tanker powered by liquefied natural gas (LNG) and wind-assisted propulsion.The vessel, MT SPA, was delivered on January 6 in Jingjiang, China, and was built by Yangzijiang Shipbuilding. It is a high-specification LNG dual-fuel LR2 tanker fitted with WindWings technology, combining alternative fuel capability with wind-assisted propulsion.Union Maritime said the vessel was designed to reduce emissions while maintaining operational efficiency and commercial performance.

The Pasha Group, a leader in integrated global logistics and maritime services, announced that Cary Davis has joined the company as Vice President of Government Affairs to lead advocacy and corporate communications. In this role, Davis will oversee federal, state, and local government relations; industry and stakeholder engagement; media relations; and strategic communications in support of Pasha’s long-term growth and service to customers and communities.A business leader and trade attorney, Davis brings deep experience in maritime policy, infrastructure finance, and public affairs.

SSA Marine, an independent marine terminal operator, announced that Meghan Weinman has been promoted to president of SSA Marine’s conventional division and that Abigail Struxness has been promoted to vice president of sustainability.As president of the conventional division, Weinman will lead SSA Marine’s North American conventional cargo operations, which include a wide variety of breakbulk, bulk, perishables, and vehicle cargo across 55 locations on U.S. and Canadian coasts and waterways.

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…

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), announced that Welin Lambie has been awarded an Indefinite Delivery Contract (IDC) to provide aftermarket support for Welin Lambie davits installed across the U.S. Coast Guard (USCG) fleet. This contract ensures access to OEM-quality parts and support services to ensure fleet readiness and the long-term reliability of critical launch-and-recovery systems. The framework contract was signed in July 2025 and includes a base year with four one-year options, extending potential support through 2030.

Chinese multinational oilfield equipment and services provider Jereh Group has delivered slop treatment units and oil purifiers to CIMC Raffles for Petrobras’ P84 and P85 floating production storage and offloading (FPSO) units, bound for deployment at the Atapu and Sépia fields, off Brazil.The equipment will support slop water and oil separation during deepwater production. The systems are designed to handle complex wastewater streams including deck drainage, machinery space oily water…

The Dutra Group, a California-based heavy civil marine contractor, has made a series of senior executive promotions across its core operations and newly acquired subsidiary, as it strengthens management capacity to support long-term growth.Bryan O’Sullivan has been appointed chief operating officer of the Dutra Group. An 18-year company veteran, O’Sullivan previously served as vice president of marine construction and will now oversee multiple divisions including dredging, marine construction and environmental restoration, reporting to President and Chief Executive Officer Harry K.

Oil prices dipped on their first trading day of 2026 after registering their biggest annual loss since 2020 as investors weighed oversupply concerns against geopolitical risks, including the war in Ukraine and Venezuela exports.Brent crude futures lost 55 cents to $60.29 a barrel by 11:16 a.m. ET (1616 GMT) on Friday while U.S. West Texas Intermediate crude was down 53 cents at $56.89.Russia and Ukraine traded allegations of attacks on civilians on New Year's Day despite talks overseen by U.S.

As offshore wind rises to meet ambitious climate goals, balancing the need for infrastructure with maintaining biodiversity has become a pressing challenge. One innovative, recent example is the installation of the UK’s first nearshore artificial nesting structures, designed to safeguard seabirds while enabling the development of the world’s single largest offshore wind farm.Hornsea 3, developed by Ørsted, plays a critical role in the UK’s clean energy transition. Yet the project faced a significant environmental challenge by needing to protect the black-legged kittiwake…

Fincantieri, via its subsidiary WASS Submarine Systems, has secured a contract from the Indian Navy to supply Black Shark Advanced (BSA) heavyweight torpedoes for six Scorpène-class submarines in service with the fleet.The contract, valued at more than $235 million, is the largest ever awarded in WASS’s history and coincides with the company’s 150th anniversary. Deliveries are scheduled between 2028 and 2030, with production to be carried out at WASS’s facility in Livorno, Italy’s…

Saipem has been awarded two offshore contracts in Saudi Arabia, known as Contract Release Purchase Orders (CRPO), under its existing Long-Term Agreement with Aramco.The first contract (CRPO 162), with a duration of 32 months, encompasses the Engineering, Procurement, Construction, and Installation (EPCI) of approximately 34 km of pipeline, with diameters of 20” and 30", and related works on topside structures at the Berri and Abu Safah oil fields.The second contract (CRPO 165)…

Fincantieri’s underwater systems subsidiary WASS has secured its largest contract to date, winning an order from the Indian Navy to supply Black Shark Advanced (BSA) heavyweight torpedoes for the service’s Scorpène-class submarine fleet.“This agreement represents a strategically important step for Fincantieri in India,” said Pierroberto Folgiero, CEO and General Manager of Fincantieri, noting the country’s growing role as a global naval hub and a key player in maritime security.The contract…

Energy markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices.This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald Trump's trade wars, the intensified targeting of energy infrastructure in Russiain its war against Ukraine, OPEC’s often perplexing production decisions and the recently threatened U.S. blockade of Venezuela.So what’s in store for next year?

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…

Product tankers shipowner d’Amico International Shipping S.A. said its operating subsidiary d’Amico Tankers D.A.C. (Ireland) signed a shipbuilding contract with Guangzhou Shipyard International Company Limited (China) for two new Medium Range 1 (MR1 – 40,000 DWT) product tanker vessels at a contract price of $43.2 million each. The ships are expected to be delivered to d'Amico Tankers in April and July 2029, respectively. In addition, d’Amico Tankers has an option, exercisable within three months of signing the shipbuilding contract…

WAPS: Making the Wind Blow for Shipping’s DecarbonizationIn the evolving landscape of maritime decarbonization, few subjects are as timely or arguably as misunderstood as wind-assisted propulsion. Yet the shipping industry finds itself at a decisive moment, driven by regulatory tightening, customer expectations for greener supply chains, and an urgent need to manage escalating fuel costs. Wind-assisted propulsion systems (WAPS), and wingsails in particular, are no longer speculative technologies. They are proven, available, and scalable solutions ready to meet the moment, writes Dr.

On Yonges Island, South Carolina, just up the Wadmalaw River from Charleston, the fourth-generation maritime company Stevens Towing Company continues to rewrite its own history. Long known for its towing and barge work, its ship repair business is growing at light speed, transforming what began decades ago as an internal maintenance yard into a dynamic commercial shipyard serving tugs, barges, OSVs, and dredge vessels from Florida to Virginia. At the center of this evolution is Kurt Olsen…

If 2025 proved anything for Germany’s shipbuilding and marine equipment sector, it is that the industry retains both resilience and relevance, even amid geopolitical turbulence. According to The Association for Shipbuilding and Marine Technology (VSM), the year closed with strong order activity, renewed investor confidence and a clear signal that German yards and suppliers remain essential to Europe’s maritime industrial base.One of the year’s most tangible confidence boosters came early.

Australia’s Woodside Energy has finalized a long-term liquefied natural gas supply agreement with Türkiye’s state pipeline operator BOTAŞ, marking Woodside’s first long-term LNG contract with the Turkish market.Under the sale and purchase agreement, Woodside will supply BOTAŞ with about 5.8 billion cubic meters of natural gas equivalent, or around 0.5 million tons per annum of LNG, for up to nine years starting in 2030.The deal converts a non-binding heads of agreement signed in September into a binding commitment.

On January 8, 2026, NYK will launch an expert committee dedicated to the long-term preservation of Hikawa Maru, a national Important Cultural Property moored in front of Yokohama’s Yamashita Park.Since 2024, NYK has been conducting surveys on the hull of Hikawa Maru to assess its safety and structural integrity in preparation for large-scale repairs. This long-term preservation project aims not only to ensure the ship’s structural soundness but also to enhance public engagement with the ship’s rich historical legacy.Based on our findings…

Fincantieri delivered the PPA (Multipurpose Combat Ship) KRI Prabu Siliwangi-321 to the Indonesian Navy, marking the completion of a two-ship program that significantly upgrades Indonesia’s surface combatant fleet.The delivery ceremony took place at Fincantieri’s Muggiano shipyard in La Spezia and follows the handover of sister ship KRI Brawijaya-320 in July. With the delivery of the second vessel, the two PPAs will form the largest and most technologically advanced frontline…

Chris-Marine announced the launch of the PSL Portable Surface Lathe, a high-precision solution designed for sealing surface machining both in-situ and in workshops ashore.Developed for small and medium bore diesel and gas engines, the PSL offers fast set-up, easy mounting and precise alignment, all operated by a single technician. Its compact, robust design and electrically driven system enable reliable in-situ machining while reducing downtime and operational costs.The PSL restores sealing surfaces with a concentric sealing pattern…

Eastern Shipbuilding Group (ESG) launched the first of the four Saltchuk escort tugs.“We are proud to advance this important project for Saltchuk Marine and look forward to continued progress as we move toward delivering these high-quality escort tugs,” said Joey D’Isernia, CEO of Eastern Shipbuilding Group, Inc. “These four vessels set a new maritime standard that will positively impact the industry by meeting new rigorous environmental requirements.” said Jason Childs, Saltchuk…