Maritime Industry Top News
Lebanon and Cyprus Clear Path for Gas Exploration with Maritime Border Deal
Lebanon and Cyprus signed a long-awaited maritime demarcation deal on Wednesday, paving the way for potential exploration of offshore gas fields and energy cooperation in the Mediterranean.Lebanese President Joseph Aoun and Cypriot President Nikos Christodoulides signed the agreement at Lebanon's presidential palace and told reporters it would signal deeper cooperation between Lebanon, European Union-member Cyprus and the broader EU."This is a historical agreement…
Windcat Orders Next-Gen Multi-Purpose Offshore Support Vessel
Windcat, part of CMB.TECH, has signed a contract with Damen Shipyards to build a new Multi-Purpose Accommodation Support Vessel (MP-ASV), with options for five additional units.To be known as the Innovation Series, the new class of offshore support vessels will combine a large open deck, subsea crane capability and fuel-efficient operations with accommodation for personnel working offshore for extended…
US Navy Cancels Four Constellation Frigates, Keeps First Two Under New Deal
Fincantieri and the U.S. Navy have reached an agreement to redefine the future of the Constellation-class frigate program, ensuring work continues on the first two ships while cancelling four later units as part of a wider fleet review.The shift follows the Navy’s overhaul of its force-structure plans and aligns with new priorities aimed at accelerating next-generation ship designs and revitalizing segments such as icebreakers…
OEUK Warns of Major Job Losses Without Urgent Windfall Tax Reform
Thousands of U.K. jobs and billions in future tax revenue are at risk unless the government reforms the Energy Profits Levy (EPL), industry group Offshore Energies UK (OEUK) said ahead of the Autumn Statement.OEUK said statistical modelling shows that revising the 78% levy in 2026 instead of waiting for its scheduled expiry in 2030 would increase total tax receipts from £32.9 billion ($43.2 billion) to $63.9 billion (£48.6 billion) over the next decade…
Oil Prices Fall as Ukraine Signals Support for Peace Deal
Oil prices fell over 2% on Tuesday after Ukraine hinted that an intense diplomatic push by the U.S. administration to end Russia's war against it could be yielding fruit.An end to the war in Ukraine could pave the way for the unwinding of Western sanctions against Moscow's energy trade, potentially adding more supply at a time when prices have been battered by expectations of a glut next year.Brent crude futures fell $1.45, or 2.3%, to $61.92 a barrel by 11:19 a.m. ET (1619 GMT), while U.S.
EU Soft Wheat Exports for 2025/26 Down 5%
European Union soft wheat exports so far in 2025/26 are down 5% from the same week last year, though this season's volume lacked two days of figures for the latest week, the European Commission said on Tuesday.EU soft wheat exports since the start of the 2025/26 season in July had reached 9.19 million metric tons by November 21, compared with 9.69 million a year ago, the Commission said in a weekly report.However…
Maersk to Resume Red Sea Route
Shipping group Maersk will take steps to resume navigation through the Red Sea via the Suez Canal as soon as conditions allow, CEO Vincent Clerc said on Tuesday.The Suez Canal Authority said in a statement that Maersk container ships will resume transit via the canal on a partial basis from the beginning of December prior to a full return but a Maersk spokesperson said the company had not set a date.The potential return of Maersk to the Suez Canal could ripple through the shipping sector, where
Performance Shipping Reports Strong Fleet Utilization, Fleet Expansion
Performance Shipping reported its third-quarter financial results for 2025, highlighting solid fleet performance amidst softer market conditions.For the three months ending September 30, 2025, the company posted net income of $3.9 million, a decrease from $12.4 million in the same period in 2024. This drop was primarily driven by reduced time-charter equivalent (TCE) rates and a decrease in available fleet days due to the scheduled drydocking of its Aframax tanker, M/T P. Aliki.
OrbitMI Launches Vessel Reporting Analysis to Strengthen Data Quality, Help Shipowners Meet Industry Standards
OrbitMI, a leading provider of maritime SaaS software, announced the launch of its Vessel Reporting Analysis, a structured assessment designed to help shipowners and operators understand how closely their vessel reports align with industry vessel reporting standards. The assessment identifies data gaps that affect compliance, operational efficiency, and the accuracy of performance and emissions reporting.As more maritime workflows depend on reliable data—across compliance…
Golar LNG Announces Successful Completion of $1.2b FLNG Gimi Bank Facility
Golar LNG Limited has announced that it has successfully closed and drawn a new $1.2 billion asset backed debt facility agreement with a consortium of banks including ABN AMRO, Citibank, DNB, Goldman Sachs and Standard Chartered Bank for the refinancing of FLNG Gimi. The new $1.2 billion bank facility replaces an existing bank facility with an outstanding amount of $627 million as at Q3 2025.The new debt facility has a 7-year tenor…
Inchcape Shipping Services Opens New Office in Geoje, Korea
Inchcape Shipping Services, a leader in port agency and maritime services, has announced the opening of its new office in Geoje, Korea. This expansion increases Inchcape’s footprint in South Korea to three offices—Seoul, Busan, and now Geoje, covering 23 ports nationwide.Geoje is a strategic hub for global shipbuilding and offshore projects, playing a critical role in the construction of LNG carriers, container vessels, naval ships, and offshore platforms.
Alfa Laval to Collaborate with Hanwha Ocean Ecotech on Ammonia Fuel System
Alfa Laval Korea Ltd. has signed a Memorandum of Understanding (MOU) with Hanwha Ocean Ecotech, marking a step toward strengthening cooperation in developing safe and reliable ammonia fuel system solutions for dual-fuel vessels.The MOU will leverage Alfa Laval’s technical expertise in ammonia fuel systems with Hanwha Ocean Ecotech’s capabilities in marine technology. The joint approach aims to secure…
Dan-Bunkering US Appoints Christian Vandvig Finnerup as Managing Director
Dan-Bunkering has announced the appointment of Christian Vandvig Finnerup as Managing Director for Dan-Bunkering USA, effective November 1, 2025.Christian Vandvig Finnerup transitions to the U.S. from Singapore, where he served as Commercial Director at Dan-Bunkering APAC, leading regional growth and strengthening Dan-Bunkering’s offshore and commercial portfolios. Prior to his time in Asia, Christian Vandvig Finnerup headed Offshore Wind…
Coal Shipments Plummet to 23 Year Low
“We estimate that coal shipments to advanced economies will fall 2% y/y in 2025, reaching a 23-year low. This will be the third consecutive annual drop although the pace of decline has slowed compared to previous years. The contraction is primarily driven by weaker coking coal demand due to reduced steel production,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Between January and October, global steel production fell 2.1% y/y according to the World Steel Association.
Østensjø Rederi Orders its Most Powerful Offshore Tugboat
GONDAN signed a contract with Norwegian shipowner Østensjø Rederi to build a state-of-the-art offshore tugboat, which will be the most powerful in its tugboat fleet. Delivery of the vessel, whose operation will be guaranteed by PYMAR, is scheduled for the first quarter of 2028.Measuring 50 x 17 m with a bollard pull of 150 tons, the new tugboat is designed to handle the most demanding offshore operations…
STAPEM Ops for Sonardyne’s Precise Positioning System
France-based STAPEM Group has chosen Sonardyne’s Ranger 2 Ultra-Short BaseLine (USBL) technology as the permanent solution for one of its flagship offshore support vessels, the STAPEM Boreale.Operating in one of STAPEM Group’s key regions, Angola, the vessel is now equipped with a Ranger 2 GyroUSBL 7000 system, an all-in-one, high-performance USBL system for precise positioning performance, previously used on a hire basis.Ranger 2 GyroUSBL 7000 is optimized for ultra-deepwater operations and…
MacGregor to Equip Atlantic Navigation’s CSV with AHC Crane
MacGregor has secured a contract to deliver a newly developed high-performance lightweight 165-tonne active heave compensated (AHC) crane to Hong Hua Yard in China for the vessel owner Atlantic Navigation.Equipment delivery is scheduled for completion by the second quarter of 2027, with an option included for one additional crane.The scope of supply includes the complete delivery of a modern 165-tonne…
LNG Bunkering Vessel Newbuild to Sport Wärtsilä Equipment
Wärtsilä Gas Solutions, part of technology group Wärtsilä, will supply a range of solutions for a new LNG Bunkering Vessel built at the Jiangnan Shipyard in China for Shanghai International Port Group (SIPG) Energy Shanghai Co.The scope includes the cargo handling system, the fuel gas supply system, and a boil-off gas reliquefication system (Compact Reliq - CRS). The systems are fully integrated to…
Fugro Wraps Up Survey at Dogger Bank South Offshore Wind Farm
Fugro has completed the geotechnical site investigations at the eastern array of Dogger Bank South Wind Farm, off UK.Fugro’s five-vessel campaign gathered core samples and cone penetration tests (CPT) data up to 50 meters below the seabed.According to RWE, which is developing the project together with partner Masdar, the results of the campaign will provide vital insights for designing turbine and…
Glamox to Deliver Exterior LED Lighting for Seatankers’ OCV Fleet
Lighting specialist Glamox has secured a contract to supply exterior marine LED lighting for four Offshore Construction Vessels (OCVs) commissioned by shipping company Seatankers.These highly versatile vessels can support all manner of offshore construction projects, from the construction and maintenance of offshore wind farms to the installation of subsea infrastructure and much more.Glamox is delivering a comprehensive package of exterior marine-certified LED lights for all four vessels.
