Indian ship recyclers are increasingly prepared to bid at levels that could result in substantial losses based on current prices as competition for a limited number of end-of-life vessels intensifies, according to Wirana Shipping, one of the world’s oldest and largest cash buyers of vessels for recycling.Indian ship recycling offers have climbed by as much as USD 30/LT LDT in three weeks as competition for limited vessel supply intensifies, Wirana Shipping has reported in its latest weekly market report.
South Korea is reviewing options, including military measures, to support freedom of navigation in the Strait of Hormuz, the presidential office said on Friday, while denying media reports that the government had already decided on a deployment.Several South Korean media outlets, including JTBC and MBC, reported late on Thursday that Seoul was preparing to deploy military assets before the end of the year and could seek parliamentary approval this month.
Argentine President Javier Milei said on Thursday he would tighten sanctions on companies involved in oil projects around the Falkland Islands, boost defense resources in the country's south and send Congress a bill aimed at strengthening Argentina's response to what he called violations of its sovereignty.In a televised address, Milei said he would sign a decree to speed sanctions under Argentine law against companies participating in oil and gas extraction in territory Argentina considers its own but that remains under British control.
Autonomy is often described as removing people from operations. That’s not quite right.It’s not a case of people ‘simply’ being replaced by machines. It’s about the move from vessel-centered operations to shore-enabled operations. People still matter, but their roles, locations and relationships with the operation change fundamentally. Uncrewed doesn’t mean unattended.Control is redistributed, not removedIn our coastal surveillance work in the Middle East, multiple vessels can operate simultaneously under the oversight of an onshore control center.
Everllence has signed Long-Term Service Agreements (LTSAs) with German ferry operator, TT-Line, at the 2026 SMM maritime trade fair in Hamburg. The agreements cover two newbuilding RoPax vessels currently under construction at China Merchants Jinling Shipyard (Jiangsu) plus two other vessels from TT-Lines’ existing fleet: the Nils Holgersson and the Peter Pan – both also constructed by China Merchants.The Nils Holgersson and Peter Pan are each equipped with 2 × 6L51/60 DF + 2 × 8L51/60 DF engines with Everllence propulsion systems.
China's Ministry of Natural Resources conducted a survey of waters east of Taiwan last month that it said would help it create "one map" for territorial planning and resource management, state broadcaster CCTV said on Thursday.China has been stepping up its activities to the east of Taiwan in the Pacific Ocean to assert its claims of sovereignty and jurisdiction over the island and its waters, to the anger of the government in Taipei.
Turkish authorities continued searching on Thursday for 10 crew members missing after a cargo ship sank off the coast of Istanbul following a collision with another vessel, state-owned Anadolu Agency reported.Two Turkish-flagged commercial vessels collided in the Sea of Marmara off Istanbul on Wednesday. Authorities said one of the ships, carrying 10 crew members, is believed to have sunk within about 11 minutes of the crash.Search operations involving the coast guard, navy, disaster management agency and other emergency services were continuing on Thursday.
A U.S. campaign to throttle Iran's economy by blockading its oil exports and stopping sanctions evasion is growing increasingly difficult to withstand, three senior Iranian sources said.Washington has in recent weeks sought to ratchet up the economic pressure on Tehran, in an effort to extract concessions in any future negotiation that six months of conflict have so far failed to secure.Although Iran's clerical rulers managed to bypass sanctions for decades, the latest U.S.
Lloyd's Register (LR) and the Marine Design and Research Institute of China (MARIC) have secured Approval in Principle (AiP) for a new 114,000 DWT product and crude oil tanker designed to accommodate future conversion to LNG, methanol or ammonia.Announced at SMM 2026, the concept addresses the need to develop vessels and capabilities that can support a range of alternative fuel options and pathways as technologies, infrastructure and regulations evolve.
OceanWings has received an Approval in Principle (AiP) from ClassNK covering its Rigid Fixed (RF) and Rigid Tiltable (RT) wingsails. The approval was presented during an official ceremony at SMM in Hamburg on September 2, 2026.Building on the initial AiP granted by ClassNK in 2025, which was limited to the 363m2 wingsail with a 38-meter span, this extension confirms that the core design principles of both configurations can be applied to a broad range of wingsail's sizes.
DNV, the independent assurance and risk management provider, has appointed Rob van der Spek as Artificial Intelligence (AI) and Innovation Manager for its Industrial Services business unit, a newly created role focused on accelerating the practical use of AI, digital tools and innovation across inspection and assurance services.The appointment reflects growing customer demand for faster, smarter and more efficient inspection and assurance.The shift is already visible in the market.
Kongsberg Maritime has secured a contract from COSCO Shipping (Qidong) Offshore Co., Ltd. to supply an integrated technology package for two new Wind Turbine Installation Vessels (WTIVs) being built for offshore wind installation company Cadeler.The agreement follows a series of previous vessel projects delivered to Cadeler through COSCO Shipping Offshore and further extends the collaboration between the companies. The two new T-class vessels were announced by Cadeler in August 2026 and are scheduled for delivery in 2030 and 2031.