Singapore-based Asia Break Bulk (ABB), part of Hamburg-based COLI Group, has signed long-term agreements with Schoeller Holdings for four new multipurpose heavy-lift vessels, with the first scheduled for delivery in October 2028.The four 12,600-DWT Octopus-type vessels, designed by CSSC-SDARI, will each feature two 250-tonne cranes capable of tandem lifts of up to 500 tonnes, expanding ABB's project cargo transportation capabilities.
Borr Drilling has confirmed the recovery of a fourth body following the sinking of its Prospector 5 jack-up rig offshore Gabon, with search operations continuing for one person still missing.The company said on November 2 that the body of a fourth individual had been located during ongoing search and rescue operations, bringing the number of confirmed fatalities to four.All four bodies have been recovered and are being transported to Port Gentil, Gabon.The Prospector 5 sank offshore Gabon on October 24 while preparing for a drilling campaign on BW Energy's Dussafu Marine licence.
The Federal Maritime Commission (FMC) will host a research symposium on March 31, 2027, at its headquarters in Washington, D.C. This event will bring together scholars conducting research on demurrage and detention (DnD) practices and policies, as well as industry experts who will share insights regarding the use of DnD to incentivize cargo fluidity and velocity. The symposium will foster research and discussion that can advance the understanding of DnD practices and their broader economic and operational implications for freight fluidity.
Six months after leaving OPEC, the United Arab Emirates on Monday began hosting ADIPEC, one of the world's largest energy conferences, where it told an audience of industry executives it had increased oil exports in spite of the Iran war.The UAE was for 59 years a pivotal member of the Organization of the Petroleum Exporting Countries. It said in April it would leave the group, weeks into the US-Israeli war with Iran. The war, which began at the end of February, has led to severe disruption of energy supplies and has driven oil prices higher.
Oil prices fell more than 7% on Monday as talks between Iranian and Qatari officials lifted hopes for an end to the US-Israeli war with Iran and stabilization of Middle East crude supply.Iran's president said the supreme leader had granted the government "certain authorities" regarding peace talks. The country's negotiators held days of talks with Qatari mediators aimed at ending the war. A draft proposal is being circulated with a follow-up meeting possible, an official briefed on the talks said.Brent crude futures fell $8.47, or 7.47%, to $104.96 a barrel by 12:24 p.m. EST (1724 GMT).
On October 31, the World Maritime University (WMU) celebrated the graduation of the Class of 2026. Representing a global community of maritime and oceans professionals, the graduates are equipped to apply their knowledge and expertise to the challenges facing the sector and contribute to a safer, more sustainable maritime and oceans future. This year’s ceremony brings WMU’s global alumni network to nearly 7,000 professionals across 173 countries and territories.Welcome remarks were delivered by WMU President, Professor Maximo Q. Mejia, Jr.
German propulsion specialist SCHOTTEL has introduced a new submersible auxiliary thruster designed to improve maneuverability and positioning accuracy for crewed and uncrewed underwater vehicles, including submarines.The SCHOTTEL PumpJet Submersible SPJ-S provides continuously adjustable thrust through 360 degrees and is designed for civil and military underwater operations, including deepwater missions and maneuvering in confined spaces.
Qatar Gas Transport Company (Nakilat) has named nine new gas carriers at three South Korean shipyards, marking progress in its fleet expansion programs aimed at increasing LNG transportation capacity and diversifying into LPG/ammonia shipping.The naming ceremonies, announced on November 2, took place at HD Hyundai Heavy Industries, Hanwha Ocean and HD Hyundai Samho, covering seven LNG carriers and two LPG/ammonia carriers.Five of the LNG carriers form part of Nakilat's 25-vessel conventional-size LNG carrier newbuild program at HD Hyundai Heavy Industries and Hanwha Ocean.
Dutch maritime technology company PortXchange is expanding its EmissionInsider platform with emissions forecasting, scenario modelling and AI-assisted decarbonization planning tools to help ports assess the environmental impact of their operations and future investments.The planned upgrade will also introduce multimodal emissions monitoring, bringing together emissions data from vessels, trucks, rail movements and cargo-handling equipment, the company said.
October maintained the strong pace of contracting for alternative-fueled vessels observed since the summer, with 53 new orders recorded during the month, according to DNV’s Alternative Fuels Insight (AFI) platform.LNG accounted for 30 of October’s orders. Container ships remained at the forefront of these, with 18 vessels ordered, while car carriers contributed a further 12.The month also saw 19 orders for LPG carriers, adding to continued activity across the alternative-fuelled fleet.
Fairbanks Morse Defense (FMD) has unveiled AutoHook, an autonomous vessel recovery interface developed by its Norway-based business Vestdavit, designed to recover uncrewed surface vessels (USVs) and other craft without manual connections.Introduced at EURONAVAL 2026 in Paris on November 2, the system is designed to automate the active recovery phase of launch and recovery operations, with FMD reporting that it has achieved operational acceptance at Sea State 4.
MacGregor reported record profitability in the third quarter of 2026 as new orders more than doubled to $340 million (€305.4 million), driven by strong demand across all its divisions.Orders increased 126% from $150 million (€135 million) in the same quarter last year, lifting the company's order book to $1.49 billion (€1.34 billion) at the end of September, compared with $1.11 billion (€998.6 million) a year earlier.Quarterly revenue rose 1% to $218.7 million (€196.5 million), with sales in the Offshore division increasing, while Services revenue grew 5%.