"Between January and October 2026, dry bulk ship recycling fell 36% y/y to 3m DWT, its lowest level in 18 years. Only 70 ships were recycled, primarily smaller ships in the handysize and supramax segments, as strong freight rates have extended the operational lives of older ships,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Dry bulk ship recycling has been at a low level since 2021 due to strong freight rates. Several disruptions have tightened the supply/demand balance.
Technology previously demonstrated aboard the U.S. Navy's Stiletto test platform will advance to operational evaluation aboard a Legend-class National Security Cutter.Israel-based maritime technology company Sealartec has secured a U.S. Coast Guard contract under the Foreign Comparative Testing (FCT) Program to supply its ALR-S autonomous launch and recovery system for installation, testing and operational assessment aboard a Legend-class National Security Cutter (NSC).The award advances the technology from an experimental U.S.
A new liquefied biogas (LBG) facility under construction at the Port of Gothenburg is scheduled to begin operations in the second quarter of 2027, providing a new source of renewable marine fuel for vessels calling at Scandinavia's largest port.The project, developed and owned by Swedish energy infrastructure company Nordion Energi, recently reached a construction milestone with the installation of its 500-cubic-meter LBG storage tank. The tank, which arrived at the port by ship, weighs approximately 140 tonnes and will have the capacity to store up to 200 tonnes of liquefied biogas.
SeaBird Exploration, a wholly owned subsidiary of SED Energy Holdings, has secured a contract for ocean bottom node (OBN) source work in West Africa, extending employment for its Fulmar Explorer vessel into 2027.The campaign will use the 2009-built vessel and is expected to last approximately six months, including mobilization and demobilization, Energy Holdings announced on November 12.Mobilization is scheduled to begin in December 2026. The company did not disclose the contract value, client or specific offshore location in West Africa.
Two oil supertankers were disabled by massive explosions after they ignored warnings against using an "unauthorised route" in the Strait of Hormuz on Wednesday night, Iran's Revolutionary Guards Navy said on Thursday.The two tankers "exploded after hitting naval mines", Iranian state media said later, showing what it said was video footage of the incidents.In the earlier months of the US-Israeli war with Iran, which began in February, the IRGC Navy had announced it had struck tankers directly.
OPEC+ crude oil production jumped in October, led by a sharp increase in output from Saudi Arabia despite continued disruption to shipments through the Strait of Hormuz caused by the Iran war.The OPEC+ group, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, pumped 41.23 million barrels per day in October, OPEC said in a monthly report on Wednesday, up about 2.04 million bpd from September.
Shanghai-based COSCO SHIPPING Development said on Wednesday it had ordered 16 very large crude carriers (VLCCs) worth 13.43 billion yuan ($2.01 billion) from China State Shipbuilding Group.A VLCC is a class of massive oil tanker with a deadweight tonnage (DWT) typically ranging from 200,000 metric tons to 320,000 metric tons.Here are more details:COSCO said its unit Oriental Fleet International entered into contracts with affiliates of China State Shipbuilding Group for 16 307
Oil prices rose about 1% on Wednesday after dropping to two-month lows in the previous session, after Iran's security chief said Tehran would not allow any enriched nuclear material to leave the country.Washington has said nuclear matters must be part of any initial negotiations with Tehran aimed at ending the US-Israeli war on Iran.Brent futures were up $1.22, or 1.3%, at $92.71 a barrel by 1412 GMT. US West Texas Intermediate crude gained $1.09, or 1.3%, to $87.13.
In the Strait of Hormuz, tankers are still ablaze, oil spills are washing ashore and drones and missiles strike infrastructure across the region, despite expectations of a de-escalation reflected in falling oil prices.The United Kingdom Maritime Trade Operations agency reported on Wednesday another incident involving a tanker in the Strait of Hormuz, while Iran said an oil tanker caught fire after hitting a naval mine.Reuters was unable to independently verify the reports.
The new tug Ximbal is currently en route to Mexico. This vessel will join the SAAM Towage fleet to support port operations in Lázaro Cárdenas, one of the main commercial ports in the Pacific.Built by Sanmar Shipyards, the vessel aims to strengthen response capacity, safety and energy efficiency in maritime maneuvers at the Mexican port.Its name, is the Mayan word for traveling and moving forward.Technical SpecificationsA RAmparts 2400SX-MKII class tug designed by the Canadian firm Robert Allan Ltd.
The fully autonomous oPod mini created by Blue Carbon launched yesterday in Brisbane.Experts from aquaculture and wild-caught fishing industries, along with ports and water authorities and investment groups, attended the dockside launch at Manly.The compact solar-powered module is tough-case-enclosed to handle all sea conditions. It is fully internet-linked and requires no shore power or mobile coverage. Weighing 32 kg, the oPod mini can be deployed by two people from a small boat/pontoon with no crane or specialist vessel needed.
Volare Shipping Ltd. acquired a modern, high-specification newbuild tanker, entering an agreement to acquire a scrubber-fitted eco VLCC from an affiliate of Trafigura Maritime Logistics (“TML”), the Company’s indirect majority shareholder, for a purchase price of US$210 million. The vessel, M.T. VENI VIDI VICI, is currently undergoing sea trials at Hengli shipyard in China and is scheduled for delivery on 20 November 2026. Prompt delivery of the vessel will generate a positive, immediate contribution to Volare’s earnings growth in a strong market environment.