Alfa Laval has entered into a definitive agreement to acquire Norwegian maritime software company NAVTOR for $700 million in cash, expanding its digital fleet solutions business through one of its most significant transactions to date.The acquisition, valued at $700 million (SEK 6.85 billion), is expected to close in the first quarter of 2027, subject to customary regulatory approvals.NAVTOR provides e-navigation, vessel-performance solutions and integrated onboard workflows for shipowners and operators, with customers in more than 90 countries.
MEYER WERFT is establishing the organizational and legal framework for the successful development of its offshore converter business. To this end, all activities in this new business segment of the Group will be consolidated in the coming weeks into a separate company, NEPTUN Offshore GmbH & Co. KG. This company will also hold the 50 percent stake in the Rostock-based joint venture NEPTUN SMULDERS Offshore Renewables (NSORe).
ShipIn Systems, a provider of AI-powered maritime risk intelligence, announced the appointment of Kunal Pathak as Vice President of Strategic Partnerships. In this role, Mr Pathak will lead the company's engagement with marine insurers, P&I clubs, charterers, and other industry stakeholders. A former Master Mariner with more than 12 years at sea, Mr Pathak previously served as Senior Adviser at Gard, a marine insurer. His experience spans shipboard operations, marine insurance, loss prevention and risk management, bringing a unique perspective on the challenges facing shipowners
Atlas Copco Gas and Process has reached two milestones this autumn by expanding its production operations in South Korea and North America. Atlas Copco Gas and Process Korea in Busan, South Korea has opened a new facility that will provide greater production capacity for different compressor technologies. In upstate New York, Atlas Copco Comptec LLC has added a large high bay space to an existing manufacturing facility, thereby increasing its production capabilities for centrifugal compressors.
One seafarer was killed in an explosion believed to have been caused by a missile attack on an oil products tanker in the Gulf on Thursday, the ship's manager said on Friday.The Marshall Islands-flagged tanker MT Velos Sapphire was sailing unladen towards Bahrain when it was hit, Greek management firm Velos Tankers said in a statement."The company is greatly saddened to report the death of one of its seafarers, who was found fatally injured on board after having initially been reported missing in the aftermath of the explosion," it said.
Oil prices were set for a sharp weekly fall after the election losses of US President Donald Trump's Republican Party raised hopes of a de-escalation in the US-Israeli war on Iran and a stock market sell-off, though attacks on vessels in the Middle East continue to provide a floor to crude.In a whiplash see-saw session on Friday, Brent crude futures for January were up 26 cents, or 0.3%, at $98.55 a barrel by 1346 GMT. US West Texas Intermediate futures edged up by 57 cents, or 0.6%, to $91.09.
CM Energy is progressing work on an integrated cable-handling and marine equipment package for a new Asso.subsea vessel, expanding its involvement in the European offshore wind market.The contract covers specialist cable-handling equipment and associated marine systems for the vessel, with engineering and manufacturing activities underway at CM Energy's facilities in China.Elements of the project also involve the European supply chain.Asso.
Subsea7 has agreed to sell its Seaway7 heavy transportation business, comprising six semi-submersible vessels, to HEA Energy in a transaction linked to its proposed merger with Saipem.The sale covers six open-deck semi-submersible heavy transportation vessels, five of which are owned and one chartered from a third party.According to the Seaway7’s fleet information, the six heavy transportation vessels include Seaway Albatross Seaway Eagle, Seaway Falcon, Seaway Hawk, Seaway Osprey, and Seaway Swan.
General Dynamics Mission Systems announced it was awarded a $15 million contract modification to exercise options under a previously awarded contract for the Mining Expendable Delivery Unmanned Submarine Asset (MEDUSA).Building on the prototype, software and engineering work advanced under the July contract modification, this follow-on award continues MEDUSA's maturation and expands the program’s support infrastructure.MEDUSA is a submarine-launched delivery system that uses an expendable unmanned underwater vehicle (UUV) to deploy diverse payloads with precision. Purpose-built to meet the U.
Twin Disc, Inc. subsidiary Katsa announced that it is expanding its capacity with a 54,000-square-foot gearbox assembly facility and warehouse in Pirkkala, Finland, in response to a double-digit percentage year-over-year increase in demand.The new plant, expected to be fully operational by May 2027, brings together gearbox assembly, testing and painting under one roof. The unified design will streamline operations by reducing material handling steps and maximizing production flow.
CM Energy is strengthening its engagement in the European offshore wind market through an ongoing integrated cable-lay installation for ASSO Subsea, an international subsea contractor that specializes in submarine cable installation, protection and repair.The contract comprises an integrated package of cable-handling and associated marine equipment for a new vessel.Engineering and manufacturing activities are progressing within CM Energy's own facilities across China, with elements of the project engaging the European supply chain.
Arc, a marine technology company, has begun engineering the battery-electric conversion of Harbor Sentinel, a 50-foot harbor tug owned and operated by Pacific Maritime Group (PMG). Supported by funding from the Port of Long Beach through its Technology Advancement Program (TAP) and SWIFT Program, along with a Volkswagen Environmental Mitigation Trust grant administered by the Bay Area Air Quality Management District, the project will replace the tug’s twin diesel engines with an Arc electric powertrain.Naval architecture firm Glosten is leading vessel engineering.