On the release of a new ABS report “Decision Point: Practical Pathways to 2035” John McDonald, ABS Chairman and CEO, explains: “The industry has entered a new phase. For many years, the discussion centered on identifying a future fuel winner. Today, the challenge is broader. Shipping companies are making investment decisions for assets that will operate into the 2040s, while managing regulatory uncertainty, changing market expectations and evolving technology pathways. Success will depend on making practical decisions that create value under a range of future scenarios.
Following receipt of the relevant regulatory clearances, NYK has completed the acquisition of a 50% stake in Avenir LNG Limited. The stake was acquired from Stolt-Nielsen Gas Ltd., a wholly owned subsidiary of Stolt-Nielsen Limited (SNI), which previously held 100% ownership of Avenir LNG.With the completion of the transaction, NYK and SNI have established a joint ownership and operating structure for Avenir LNG, a leading operator in the LNG bunkering sector with one of the world's largest fleets of LNG bunker vessels.
From Canada to Argentina, oil producers across the Americas have enjoyed a windfall during the Iran war by capturing market share lost by Middle Eastern exporters. The renewed focus on energy security globally could transform this emergency response into a lasting structural change.Oil production in the Americas has become a viable alternative to the Middle East's vast hydrocarbon resources since the outbreak of the Iran war and the closure of the Strait of Hormuz six months ago, which disrupted roughly a fifth of global oil supplies.
An unprecedented deal for the U.S. to gain access to a fifth of Venezuela's oil reserves - and the central role a Venezuelan businessman will play - is prompting questions and hesitation from some oil companies evaluating potential investments in the country, sources familiar with the situation told Reuters.A White House fact sheet released late on Monday outlined an arrangement under which private oil firm North American Blue Energy Partners (NABEP) would receive a 100-year lease for 17 oilfields in Venezuela holding some 65 billion barrels of oil reserves. The U.S.
A tanker has reported being struck by three projectiles while sailing out of the Strait of Hormuz, 17 nautical miles east of Oman's Khasab, the United Kingdom Maritime Trade Operations agency (UKMTO) said on Tuesday.No casualties or environmental impact have been reported, UKMTO said.TRANSITSThe number of vessels sailing through the Strait of Hormuz was little changed on Monday compared with the weekend, hovering around five, preliminary ship-tracking data showed on Tuesday, below the 10-day average of around 14.Four of the vessels entered the strait and one exited, data from Kpler showed.
Furetank's intermediate tanker Fure Vasa was given her name in Uddevalla, Sweden, on August 28, in front of more than 300 invited guests. Along with news of new investments and a 40th-anniversary celebration, the day brought several encouraging signs for the state of Swedish tanker shipping."Today, transport is not only a matter of competitiveness. It is also increasingly a matter of resilience, security and preparedness, given the political tensions in the world.
Cheniere Energy, Inc. has announced the achievement of two significant milestones: the substantial completion of the Corpus Christi Liquefaction Stage 3 Project (CCL Stage 3) in Texas, and the production and export of its 5,000th cargo of LNG from its U.S. Gulf Coast operations. Cheniere has reached the 5,000th cargo milestone faster than any other LNG producer worldwide.CCL Stage 3 achieved substantial completion on August 28, when Bechtel Energy, Cheniere’s engineering, procurement and construction contractor, turned over care
Robert Allan Ltd. has been awarded a contract to design a new RAmparts 4300 ASD tug for Guangzhou Port. The vessel will mark the first Robert Allan Ltd.-designed tug to join Guangzhou Port’s fleet and will be constructed by Lianyungang Hongyun Industrial Co., Ltd. with delivery anticipated in May 2028.Designed to meet the demanding operational requirements of one of China’s busiest ports, the new RAmparts 4300 ASD tug will deliver exceptional performance and versatility, says Robert Allan Ltd.
Tidewater Inc. has announced the completion of its acquisition of Wilson, Sons Ultratug Participações S.A. and its affiliate Atlantic Offshore Services S.A. (collectively: WSUT), effective August 31, 2026.Quintin Kneen, Tidewater’s President and Chief Executive Officer, commented, “We are pleased to announce the closing of the WSUT acquisition, and we are excited to welcome our new employees to Tidewater. The WSUT fleet of 22 PSVs is an excellent complement to the Tidewater fleet and further expands our leading global market position in OSVs.
On August 28, the American Waterways Operators (AWO) organized the second annual Falls Overboard Safety Standdown Day. Falls overboard are the leading cause of mariner fatalities in the tugboat, towboat, and barge industry.Participating companies and stakeholders were encouraged to pause briefly on August 28 to review falls overboard prevention procedures with crew; reinforce safe deck behavior, buddy systems, fall restraint use and proper PPE.
U.S. President Donald Trump said Monday that ExxonMobil, the largest U.S. oil major, was among a group of companies planning to do business in Venezuela.Exxon declined to comment. Any entrance into the South American country would mark a stunning reversal nearly two decades after the company exited following the nationalization of its assets. The oil producer operates the prolific Stabroek Block in next-door Guyana, which currently produces more than 900,000 barrels of oil a day.
C-Innovation (C-I), a provider of subsea services and an affiliate of Edison Chouest Offshore, announced the promotion of Lucas Cribley to Chief Executive Officer.In his new role, Cribley will lead C-I’s overall strategy and operations as the company expands its capabilities and strengthens its position in the global subsea services market.Cribley brings over 25 years of experience in offshore operations, project execution, and business development. “I am honored to have the opportunity to lead C-Innovation as CEO,” said Cribley.