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Nam Cheong Sells Two Offshore Support Vessels for $37M
Malaysia-based offshore support vessel (OSV) provider Nam Cheong has sold two vessels for $36.7 million, including its first newbuild sale in more than a decade.The transactions include a newly built multi-purpose support vessel (MPSV) and a 120-tonne anchor handling tug supply (AHTS) vessel, which was 16 years old and divested following the completion of its charter contract in the first quarter of…
Bureau Veritas Expands Offshore Services with New Asia Hub
Bureau Veritas Marine & Offshore has launched an Offshore Center of Excellence in Asia Pacific to support offshore energy projects.The center will combine regional teams in Singapore, Shanghai and Kuala Lumpur with the company’s global technical network to support oil and gas and offshore renewable energy developments.The initiative comes as offshore projects increase in scale and complexity, requiring…
RightShip Welcomes David Finch as Chief Commercial Officer
RightShip, a maritime digital platform for safety, sustainability, and supply chain risk management and assurance, continues to strengthen its leadership team as part of its ongoing evolution and growth strategy.Over recent years, RightShip has expanded beyond its traditional strengths in vetting and inspections to deliver more connected, insight-led, and customer-centric solutions to the maritime supply chain.
Orca AI, Samsung Heavy Industries Join Forces to Advance Autonomous Vessel Technology
Maritime AI company Orca AI has signed a Memorandum of Understanding (MoU) with Samsung Heavy Industries (SHI), a leading shipbuilder, to jointly accelerate the development, deployment and scaling of next-generation autonomous vessel technologies in real-world operations.The phased collaboration will combine SHI’s autonomous solutions with Orca AI’s AI-powered maritime operations platform, enabling the scaled deployment of AI-assisted navigation…
Hanwha Ocean and Leidos Partner on Naval Shipbuilding
Hanwha Ocean and Leidos are collaborating to advance next-generation naval ship design, strengthen U.S. shipbuilding capacity, and pursue opportunities across global defense markets.Hanwha Ocean’s shipbuilding, combined with Leidos’ naval design and engineering expertise, is intended to deliver scalable, production-ready solutions aligned with evolving U.S. Navy and allied needs. The companies plan to focus on:• Adapting Hanwha ship designs for full alignment with U.S.
Nikkiso Partners Exion Asia to Launch Southeast Asia Marine Hub
Nikkiso Clean Energy & Industrial Gases Group (Nikkiso CE&IG) has entered into a strategic service partnership with Exion Asia to establish its first marine hub in Southeast Asia, aimed at supporting growing demand for cryogenic equipment services.Under the agreement, Singapore will serve as Nikkiso’s Southeast Asia Marine Hub, providing regional support for cryogenic pumps and related equipment used…
Panama Canal Downplays Report of “Line Jumping”
The Panama Canal Authority on Thursday downplayed a report that an LPG vessel paid $4 million to jump the transit queue, saying the result reflected temporary market conditions rather than a fee set by the waterway, as the Iran war drives more traffic to the canal."The recent outcome of an auction awarded to an LPG vessel reflects temporary market shifts and is not the result of a rate set by the Panama Canal…
China Calls for De-Escalation as US Threatens Hormuz Blockade
China urged calm and restraint by all sides on Monday, following U.S. President Donald Trump's threat to blockade the Strait of Hormuz after the failure of weekend talks in Islamabad aimed at ending the Iran war.Before the war, most Iranian oil exports were shipped to China, the top global importer of crude.Keeping the key Strait of Hormuz waterway safe, stable and unimpeded served the interest of the international community…
New Alliance Targets Sexual Misconduct at Sea
The All Aboard Alliance has launched Unspoken, a project to develop a global framework for companies to better identify, prevent, and respond to unwanted sexual behaviour aboard vessels.There is strong evidence that sexual misconduct at sea is both widespread and significantly underreported, said the Alliance. A 2025 report found that 80% of seafarers surveyed had experienced or witnessed a sexual…
Oil Shoots Over $110 as Trump's Iran Deadline Looms
Global stocks wavered on Tuesday, while oil prices were perched above $110 per barrel as the prospect of escalation in the war in the Middle East and the looming deadline for a deal to be reached kept nervy investors on the sidelines.Markets have been rattled since the U.S.-Israel war on Iran broke out at the end of February, with Tehran effectively closing the Strait of Hormuz, a key global oil transit…
Hormuz Shipping Traffic Remains Below Normal Volumes Despite Ceasefire
Ship traffic through the Strait of Hormuz stood at well below 10% of normal volumes on Thursday despite a U.S.-Iran ceasefire as Tehran asserted its control by warning ships to keep to its territorial waters while doing so.Hundreds of tankers and other ships have been stuck inside the Gulf since the Iran war began on Feb 28, cutting global oil supply by 20% in the world's biggest-ever supply disruption.
Trump Discusses Prolonged Blockade, Urges Iran to Sign Deal
Donald Trump discussed how to mitigate the impact of a possible months-long U.S. blockade of Iran's ports with U.S. oil companies, a White House official said on Wednesday, as the U.S. president urged Tehran to 'get smart soon' and sign a deal.The talks with oil executives on Tuesday followed days of deadlock in efforts to resolve the conflict, which has led the U.S. to try to squeeze Iran's oil exports with a naval blockade to try to force it to reopen the Strait of Hormuz to shipping.Trump…
Germany Looks to Help Secure Hormuz After Hostilities Subside
Germany is in principle ready to help secure transit routes through the Strait of Hormuz after hostilities end, provided there is a mandate, preferably from the United Nations, and German parliamentary approval, Chancellor Friedrich Merz said."We are still a long way from all of that," Merz told reporters a day before talks in Paris that, he said, would also cover whether U.S. armed forces could participate…
First LNG Export Cargo Departs Sabine Pass Terminal
Golden Pass LNG, a joint venture between QatarEnergy and U.S. oil major Exxon Mobil, said on Wednesday that the first cargo of liquefied natural gas has departed from its new Sabine Pass terminal in Texas.Shipping data showed that the vessel, Al Qa'iyyahal, had departed but it was not immediately apparent where the first shipment was headed. Reuters previously reported it was expected to go to Italy…
Fincantieri, Princess Ink Deal for Three LNG-Fueled Ships
Fincantieri and Princess Cruises signed an agreement for the construction of three new LNG-powered cruise ships. The vessel, part of a new “Voyager” class, will be built at Fincantieri’s Monfalcone yard, with deliveries scheduled for 2035, 2038 and 2039. While financial details were not disclosed, the contract has been described as significant and remains subject to financing and standard conditions.Each ship will be approximately 183…
Icebreakers: Seaspan Shipyards Sits as the Hub of the USCG Icebreaker Fleet Rebuild
The quest to rebuild the U.S. icebreaker fleet is an international affair, and part of the project centers on Jim Carr, SVP Engineering, Seaspan Shipyards, and his team that is serving as a design and expertise hinge for construction of the USCG Arctic Security Cutter (ASC) program to be built at Rauma Marine Constructions and Bollinger Shipyards. Carr has had a long and distinguished career across major U.S.
Novatek Establishes Company to Build Vessels, Floating Facilities Amid Global Tanker Shortage
Russia's largest producer of liquefied natural gas Novatek has set up a company to build its own vessels and floating facilities, according to the state's registry of authorised companies, amid a shortage of gas tankers due to sanctions.Ilya Lushchikov, who is also head of Novatek's Murmansk LNG project, is in charge of the new company, called Severny Inzhiniring, or Northern Engineering, which was set up on March 25, according to the registry.Novatek did not reply to a request for comment.Weste
Golden Pass LNG Ships First Export Cargo from Texas Terminal
Golden Pass LNG, a joint venture between QatarEnergy and ExxonMobil, has loaded and shipped its first liquefied natural gas (LNG) cargo from its export terminal in Sabine Pass in Texas, marking a step toward full commercial operations.Golden Pass LNG expects to export about 18 million tonnes of LNG per year once the terminal is fully operational.Construction and commissioning of additional liquefaction trains are ongoing…
Cyclus Marine Vessel Lifecycle Specialist Joins Wilhelmsen Ship Management
Cyclus Marine, the newest company under Wilhelmsen Ship Management, brings together specialist technical capabilities across the full lifecycle of oceangoing vessels. The company combines well-known services with an experienced and dedicated staff spanning a global reach. Cyclus Marine supports vessels across all major stages under one brand:NewbuildingDry-dockingRiding crewsRetrofitsConversionsRecyclingCyclus Marine is built on three principles: trust, precision, and specialization.
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
