German shipbuilder ThyssenKrupp and its Indian partner have cleared field trials for building six advanced conventional submarines for the Indian Navy, according to an exchange filing, emerging as the sole contender for the $5 billion project.Their potential rival, Spanish state-held shipbuilder Navantia, which partnered with India's Larsen & Toubro (L&T), could not meet the navy's requirements in trials held in 2024 for testing key technologies, an Indian defence source said.
Yemen's Iran-aligned Houthis have released the crew of the Galaxy Leader more than a year after they seized their Bahamas-flagged vessel off the Yemeni Red Sea coast, Houthi-owned Al Masirah TV reported on Wednesday.It said the crew were handed to Oman "in coordination" with the three-day-old ceasefire in Gaza's war between Israel and Palestinian militant group Hamas."The release of the Galaxy Leader crew comes within the framework of our solidarity with Gaza and in support of the ceasefire agreement," it quoted the Houthi Supreme Political Council as saying.
U.S. President Donald Trump on Wednesday re-designated Yemen's Houthi movement, known formally as Ansar Allah, as a "foreign terrorist organization", the White House said.The move will impose harsher economic penalties than the Biden administration had applied to the Iran-aligned group in response to its attacks on commercial shipping in the Red Sea and against U.S. warships defending the critical maritime chokepoint.Proponents of the move say it is overdue, though some experts say it could have implications for anyone seen as aiding the Houthis, including some aid organizations.
Ships not linked to Israel could begin returning to the Red Sea in as little as two weeks, DP World's deputy chief executive said, adding that could see freight prices "come crashing down".Sea freight prices could drop "at least 20%, 25%" and that could happen over two to three months, Yuvraj Narayan told Reuters on the sidelines of the World Economic Forum meeting taking place in Davos, Switzerland.It is hard to predict a specific timeline, however, the deputy CEO and CFO of the Dubai-owned ports and logistics firm added.
Fincantieri and Marc-Henry Cruise Holdings LTD, Joint Owner/Operator of Four Seasons Yachts, celebrated the launch of "Four Seasons I" at the Ancona shipyard, the first ultra-luxury ship under construction for Four Seasons Yachts, which will be delivered to end of this year and which will set sail in January 2026. The launching ceremony was attended by Fincantieri's President, Biagio Mazzotta, the CEO and General Manager, Pierroberto Folgiero, the General Manager of the Merchant Ships Division, Luigi Matarazzo, while Nadim Ashi, Owner and Executive Chairman, was present for the shipowner.
The Baltic Exchange's dry bulk sea freight index .BADI, which tracks rates for ships carrying dry bulk commodities, extended losses to a 23-month low on Thursday, dragged by weaker rates across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 69 points to 824 points, hitting its lowest since February 2023.The capesize index slipped 155 points to 1,081 points, dropping to over five-week low.
Freight rates for Russian ESPO Blend oil loading from the Far Eastern port of Kozmino have jumped fivefold amid a lack of vessels after fresh U.S. sanctions cut availability of tankers, three traders said and data showed.Higher freight costs cut Russian oil sellers' revenues that are already under pressure from U.S. sanctions and complicated logistics, while a lack of vessels in the region during the winter season may lead to loading disruptions, traders said.On Jan. 10 the U.S.
Kongsberg Maritime has secured a contract to supply advanced propulsion and maneuvering technology for two new KCR-70 Fast Attack Craft for the Indonesian Navy.The vessels are currently under construction at the Sefine Shipyard in Türkiye.The Kongsberg Maritime equipment package includes propulsion system that combines twin controllable pitch propeller (CPP) Promas systems for high efficiency at patrol speeds with a single Kamewa waterjet to provide boost power for high-speed operation.The configuration is said to optimize propulsion power, speed, and maneuverability.
On March 26, 2024, the M/V Dali, a massive Neopanamax (the terms for the size limits for ships travelling through the Panama Canal, 1201 ft. long and 168 ft. wide) container ship, collided with the Francis Scott Key Bridge,an incident that highlights the growing tension between U.S. maritime infrastructure and modern shipping practices. This accident is poised to create ripple effects across infrastructure, trade regulations, and even maritime law, especially in terms of the Merchant Marine Act of 1920 (the Jones Act).
New U.S. Secretary of State Marco Rubio discussed China's "dangerous and destabilizing actions in the South China Sea" with his Philippine counterpart on Wednesday and underscored the "ironclad" U.S. defense commitment to Manila."Secretary Rubio conveyed that (China's) behavior undermines regional peace and stability and is inconsistent with international law," the U.S. State Department said in a statement on the call with Foreign Minister Enrique Manalo.
AIRCAT Vessels, in collaboration with ESNA, delivered the first three AIRCAT 35 Crewliners. Designed to meet the demanding needs of the oil and gas sector, the 35-m vessels, based on SES (Surface Effect Ship) technology, achieve speeds of more than 50 knots, even in challenging maritime conditions. Each vessel has a capacity of 80 passengers with a cabin designed to business class standards. In addition, two operational modes have been integrated to help ensure comfort:The Ride Control System (RCS), which ensures a smooth ride even in rough seas.
Huisman has signed a contract with Zhenjiang Jiangsu Shipyard for the delivery of a 100 mt Pedestal Mounted Crane to Eastern Navigation, a provider of maritime support fleets in the Asian-Pacific offshore energy industry.This marks the fifth Pedestal Mounted Crane Huisman will supply for Eastern Navigation's fleet.It follows the delivery of 300 mt and 100 mt cranes over several years, as well as the addition of another 100 mt crane currently under construction, scheduled for delivery in mid-2025.