The construction of Captain Arctic, a 69-meter near-zero-emission exploration vessel designed for sustainable cruising in polar waters, has reached a major milestone as its hull was completed by Goltens Dubai, marking the start of final outfitting and integration work.The vessel, owned by French company SELAR and built in collaboration with Chantier Naval de l’Océan Indien (CNOI) and Goltens
Petrodec’s newly constructed heavy lift jack-up vessel, named Obana, has started decommissioning work in the Southern North Sea for Perenco.Obana is working on the decommissioning of the Galahad platform, after which it will move to the Amethyst field for the removal of the C1D, A2D and B1D jackets, expected to be completed and offloaded in the Netherlands later in 2025.
Despite significantly weaker freight rates, the average price for five-year-old container ships has increased 17% year-on-year and 6% since the beginning of 2025,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.The average per TEU price of a basket of seven five-year-old container ships was $9,761/TEU in late August 2024.
“We forecast that bulker deliveries will gradually increase this year and in 2026, reaching 41.2m Deadweight Tonnes (DWT) and a six-year high. Bulker newbuilding contracting was strong in 2023 and 2024, and several of the ships ordered during this period are expected to be delivered during this and next year,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Of the 59.
On July 10, 2025, the electric solar passenger ship "Insel Mainau," designed and built by Ampereship GmbH, completed a range test on Lake Constance. During a 19-hour continuous journey, the all-electric catamaran covered exactly 211.3 kilometers on the lake, with a remaining battery capacity of 20 percent. The ship was back in regular operation the very next day.
“As the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (Hong Kong Convention) enters into force we have updated our estimate for the ship recycling potential over the next 10 years. We now estimate the potential to be 16,000 ships, or 700m deadweight tonnes (DWT), from previously 15,000.
We are at the one-year since the Francis Scott Key (FSK) Bridge collapsed over the Patapsco River’s Fort McHenry Channel in Baltimore, Maryland. Nearly 100 percent of the wreckage and debris removal was conducted by the Jones Act private sector U.S. maritime industry. The FSK collapsed at about 1:28 a.m.
"Assuming a significant increase in recycling of older ships and a reduction in average sailing speeds, we forecast that average market conditions in 2026 will be like those in 2025 but 2027 could see slightly weaker market conditions. We forecast ship demand growth of 2.5%-3.5% in both 2026 and 2027 while supply is estimated to grow 3% in 2026 and 3.
“Due to low contracting volumes in 2022, the crude tanker order book/fleet ratio bottomed out at 2.8% in March 2023. It has climbed steadily since and has now hit a nine-year high of 14.1%. The order book may kickstart the renewal of a fleet that has grown older on average since 2018,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.
As top EU leaders also plan to meet with US president Trump on Monday and seek a path to end the Ukraine war, oil fell nearly 2% last week, reports cash buyer GMS.It closing it out at $62.80/barrel even though the easing of sanctions could see oil trade ease in the coming weeks and traders remained bearish about the future.
EnQuest completed the removal of the Heather Alpha topsides on August 11.The Allseas-owned Pioneering Spirit heavy lift vessel removed the 15,300 tonne topsides in a single lift, the largest single lift planned in the North Sea this year.EnQuest Decommissioning Director, John Allan, said: “The Pioneering Spirit completed the lift in around 14 seconds
“Between January and April 2025, dry bulk ship recycling has fallen 24% y/y, reaching a 17-year low despite a 35% y/y drop in the Baltic Dry Index (BDI). While weaker freight rates typically encourage the recycling of older and less profitable ships, high uncertainty over the demand outlook could be delaying recycling decisions,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.