HD Hyundai and Kiewit Maritime Co. have announced plans to establish a joint venture to develop a new shipyard in the United States, targeting the start of construction in 2027 and full-scale operations in 2029.The proposed venture, HD Kiewit Shipbuilding LLC, would combine HD Hyundai's shipbuilding technology and shipyard operating expertise with Kiewit's engineering, construction and fabrication capabilities, the companies said.
Saipem and Egypt's Modern Drilling Company (MDC) have signed a memorandum of understanding (MoU) to explore offshore drilling opportunities in Egypt, with the potential to extend their cooperation to other countries.The non-exclusive agreement covers the identification and development of new offshore drilling business opportunities, with the companies considering different forms of cooperation depending on individual projects.Potential arrangements include joint ventures, consortia and project-specific agreements.
Thermal Dynamics, an ESAB brand, unveiled its next generation of manual plasma cutters, Cutmaster 90X and Cutmaster 110X, in booth #S29025 at FABTECH 2026 in Las Vegas. The Cutmaster X series features a consumables design and patented arc starting mechanism that has no moving parts. After establishing airflow, it starts the arc in a few thousandths of a second, improving cutting performance.The Cutmaster X series also features the patented 1Torch X, which has an articulating head that can flex 30 to 90 degrees, then lock in place, to improve joint access for cutting and gouging.
China is combining militia vessels with coast guard ships to expand "battlefield preparation" around Taiwan and into the western Pacific, Taiwan's Coast Guard said, warning the operations were also putting pressure on Japan and the Philippines.Responding to a Reuters exclusive this month on the first known sighting of a Chinese militia boat off Taiwan's Pacific coast in mid-August, the coast guard said it had dispatched a patrol boat to drive away the vessel, which was operating alongside a Chinese coast guard ship and a research vessel.
Oil prices rose on Friday, with Brent crude touching its highest since early May, after Houthi attacks in Saudi Arabia stoked concern over further disruption to energy supplies from the Middle East where UAE authorities also reported an oil spill.Brent crude futures gained $1.71, or 1.5%, to $114.99 a barrel by 1300 GMT, having earlier reached $115.16, the highest level since May 4. US West Texas Intermediate crude gained $1.80, or 1.8%, to $101.27.The Brent benchmark is on track for a 4.4% weekly rise, its third in a row, while WTI is poised to finish 0.4% down on the week.
October has been the worst month for attacks on commercial shipping in the Strait of Hormuz and nearby waterways, according to data compiled by a Washington-based think tank that has tracked maritime security incidents worldwide since 2017."October has seen the highest number of ship attacks on record," said Noam Raydan, a senior fellow at the Washington Institute for Near East Policy.Raydan, who maintains the institute's interactive shipping incident map
DOF Group ASA has agreed to sell the 2018-built subsea construction vessel Skandi Implementer to an undisclosed buyer.The vessel is planned to be delivered to its new owner in Q2 2027. The sale will contribute to a material reduction in the Group’s net debt.“While we have not actively pursued a sale of this high-end subsea vessel, the terms are accretive for the DOF Group and its shareholders, making this the right decision," said Mons S.
Fincantieri hosted Acting U.S. Navy Secretary Hung Cao and senior federal officials at its Marinette and Sturgeon Bay shipyards in Wisconsin, highlighting investments in advanced manufacturing, automation and expanded shipbuilding capacity as the company prepares for construction of the U.S. Navy's Landing Ship Medium (LSM) vessels.The delegation included Office of Management and Budget Director Russell Vought, Maritime Administration Administrator Stephen Carmel, OMB Associate Director for Shipbuilding Jerry Hendrix and Eugenio Santagata
Sanmar Shipyards has delivered SAAM XIMBAL, a new BOGAÇAY Class tug, to SAAM Towage, marking the 18th SANMAR-built tug delivered to the towage operator since 2018.Known as BOGAÇAY XCVI during construction in Türkiye, SAAM XIMBAL will operate from the Port of Lázaro Cárdenas on Mexico's Pacific coast, supporting demanding ship-handling operations at one of the country's major commercial ports.SAAM XIMBAL is based on the RAmparts 2400SX-MK|I design, developed exclusively for SANMAR by Canadian naval architects Robert Allan Ltd.
Mammoet Canada Eastern Ltd., Port of Argentia Inc. and Argentia Capital Inc. (ACI) have signed a Memorandum of Understanding (MOU) to advance plans for a floating dry dock and marine repair facility at the Port of Argentia in Newfoundland and Labrador, Canada.The proposed development would combine Mammoet's heavy lifting, transport and marine engineering capabilities with the port's existing infrastructure, creating additional capacity for vessel maintenance, repair and industrial services.
The National Ocean Industries Association (NOIA) has launched Ocean Minerals Forward, a new industry education and communications initiative examining the potential of deep-sea mineral resources to strengthen U.S. critical mineral supply chains, support domestic manufacturing and reduce reliance on foreign suppliers.The initiative includes a dedicated website, a comprehensive report and educational resources covering seabed mineral development, offshore technologies, environmental considerations and the regulatory challenges facing the emerging industry.
Romanian President Nicusor Dan accused Russia of escalating its attacks on NATO's eastern flank on Friday, after a drone strike sank a cargo ship off the Romanian Black Sea coast, killing at least one sailor with three still missing.Video released by Romanian authorities showed only a small part of the hull of the capsized tanker still visible above the waves as it sank. Emergency vessels were searching the surrounding waters for survivors in choppy seas and high wind.