Italian shipowner Fratelli Cosulich has taken delivery of Carlotta Cosulich, the third of four methanol-ready bunker tankers being built under its fleet expansion program.The 8,585 deadweight tonne (DWT) vessel was officially delivered at Taizhou Maple Leaf Shipyard in China on October 28, following the earlier deliveries of sister vessels Anna Cosulich and Lucia Cosulich.The new IMO II bunker tanker is designed to support a range of bunkering operations, with features including MarineLINE cargo tank coating, Single Point Mooring (SPM) capability and a 5-tonne crane.
Eastern Shipbuilding Group, Inc. (ESG) has been selected by HII’s Ingalls Shipbuilding division to construct key structural modular units for the U.S. Navy’s future USS Philadelphia (LPD 32), a San Antonio-class Amphibious Transport Dock.Under the contract, ESG will leverage its Gulf Coast facilities to manufacture six structural units. Production is currently underway, with final deliveries to Ingalls’ Pascagoula, Mississippi shipyard scheduled for the third and fourth quarters of 2027.The agreement supports Ingalls’ expanded distributed shipbuilding strategy.
On October 29, 2026, a Somali Pirate Action Group of 12 armed pirates hijacked the Iranian fishing dhow AZINI approximately 185 nautical miles east of Bandarbeyla, Puntland. The vessel’s crew reportedly included 21 Iranian fishermen and two Somali security guards.On November 2, the Indian Navy freed the vessel following a 48-hour operation in the Arabian Sea, and all crew are reportedly safe.The hijacking of AZINI is the first confirmed hijacking of the fourth quarter and the fourth confirmed hijacking of a dhow or fishing vessel off Somalia this year.
Oil prices fell 9% on Wednesday in volatile trading as investors awaited Washington's next move in the US-Israeli war with Iran after President Donald Trump's Republican Party lost control of Congress in midterm elections.Brent futures dropped $9.27, or 8.9%, to $94.29 a barrel, touching the lowest level since September 4, at 11:58 a.m. ET (1658 GMT). US West Texas Intermediate crude futures were down $7.44, or 7.8%, to $88.54.Brent settled in the previous session at its lowest level in nearly four weeks as traders weighed talks to end wars in Ukraine and Iran.
U.S.-based Naval Systems, Inc. (in partnership with Dragonfish Technical Solutions, LLC) (NSI/DF) and U.K.-based SubSea Craft successfully demonstrated an integrated suite of advanced unmanned maritime systems during a multinational maritime exercise conducted October 5–8 off the coast of California. At the request of the Office of the Under Secretary of War for Research & Engineering (OUSW(R&E)) exercise personnel, SubSea Craft and NSI/DF combined their autonomous systems to deliver an integrated demonstration capability
Shipments of iron ore on the Great Lakes increased 11.4 percent from last year to a total of 4.9 million tons. Shipments were 1.5 percent above the month’s 5-year average.Year-to-date, the iron ore trade stands at 37.1 million tons, an increase of 3.5 percent compared to October 2025.Through October, iron ore loadings are 5.2 percent below their 5-year average. Great Lakes Iron Ore Shipments: October 2021-2026 and 5-Year AverageIncludes Transshipments to Quebec City for Shipment Overseas(net tons) AveragePort2021202220232024202520262021-2025Duluth, MN1,060,797914,217822,376746,629640,772764
U.S. shipments of limestone on the Great Lakes decreased 7.8 percent from 2025 to 2.95 million tons. Limestone cargos were below the month’s 5-year average by 17.3 percent. Year-to-date, the limestone trade stands at 18.8 million tons, a decrease of 17.7 percent compared to last year and 22.4 percent below the month’s 5-year average. GREAT LAKES LIMESTONE TRADE: OCTOBER 2021-2026 AND LONG-TERM AVERAGE (NET TONS) 202120222023202420252026Average2021-2025U.S.
Switch Maritime and Incat Crowther have secured a Design Basis Agreement (DBA) with the United States Coast Guard (USCG) for their SWITCH-150 hydrogen fuel cell-electric fast ferry, marking a regulatory milestone in the development of the 150-passenger vessel.The agreement establishes a regulatory framework to guide the vessel's construction, commissioning and eventual operation, with the design intended to deliver performance comparable to diesel-powered ferries while producing only water vapour as vessel emissions.
BOURBON has taken delivery of the first of two new 34-meter crew boats from Grandweld Shipyards in Dubai, expanding its fleet of offshore personnel transport vessels.The first vessel was officially delivered on November 3 following successful sea trials.Designed to transport offshore personnel, the new vessels have capacity for 60 passengers, with business-class-style seating, a cruising speed of up to 38 knots and improved fuel efficiency compared with the previous generation of 32-meter crew boats.
Veth Propulsion by Twin Disc has introduced a new contra-rotating azimuth thruster designed for cruise vessels and ferries, with the company claiming fuel consumption reductions of up to 7% in real-world use.The new Streamline-CRP system is designed to improve hydrodynamic efficiency, reduce emissions and minimize noise and vibration, including during operations in shallow-water conditions.The thruster incorporates a redesigned gearbox using combined push-pull technology to optimize water flow and reduce resistance, alongside a long, slender tail section intended to minimize drag.
"Between January and October, coal shipments to India dropped 7% y/y due to the increased cost of imports. Thermal coal demand has remained strong, particularly from the power sector, but domestic mining has not kept pace, forcing power plants to draw down inventories. In contrast, coking coal demand growth has eased following a decline in steel production amid low margins,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.The cost of imported coal has increased due to a weaker rupee and higher coal prices.
After disembarking more than 200 passengers who had paid tens of thousands of dollars to live on board for years, the Villa Vie Odyssey cruise ship departed Cambodia early on Wednesday.Last week, the vessel's owner, Florida-based Villa Vie Residences, suspended operations and forced passengers off the ship at the port town of Sihanoukville, saying fuel price increases from the Iran war had made operations prohibitively expensive.The ship left with no passengers and around 50 crew, according to Taing Sochitkrishna, head of the Sihanoukville tourism department.