Seatrium has put in motion a series of non-core asset divestments set to complete by early 2026, targeting over $40 million (S$50 million) in annualized operational cost savings.The Singapore-based offshore and marine group said the savings will follow recent divestments of the AmFELS yard in Texas and the GNL Platform Supply Vessels disclosed in 2025, alongside additional transactions earlier.
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.
ClassNK has certified Salam’s International, a ship recycling facility in Pakistan, as the first facility in the country to be certified by ClassNK for compliance with the Hong Kong International Convention for ship recycling. Based on this certification, the competent authority in Pakistan is expected to issue the Document of Authorization to conduct Ship Recycling (DASR) as required by the
The International Labor Organization (ILO) launched a pilot Employment Injury Scheme (EIS) in collaboration with BIMCO to strengthen the protection and rights of workers at ship recycling yards in Bangladesh, the world’s biggest ship recycling nation.The scheme works as a social insurance where the risk is pooled and shared by the industry.
Low ship recycling activity could undermine tanker market strength in the coming years, BIMCO said in its February 2026 Tanker Shipping Market Overview & Outlook, even as crude tanker earnings are expected to remain firm in the near term.“We expect continued strong market conditions for crude tankers in 2026 and 2027 despite some weakening in 2027.
“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.