If 2025 proved anything for Germany’s shipbuilding and marine equipment sector, it is that the industry retains both resilience and relevance, even amid geopolitical turbulence. According to The Association for Shipbuilding and Marine Technology (VSM), the year closed with strong order activity
Finnish engineering group Wärtsilä has agreed to divest its Gas Solutions business to German private equity investor Mutares SE & Co. KGaA, continuing its efforts to streamline operations and unlock value from its portfolio.Gas Solutions, which operates globally across the gas value chain, provides systems and lifecycle services for maritime gas handling, inert gas systems, gas-to-power solutions
The United States on Friday threatened to use visa restrictions and sanctions to retaliate against nations that vote in favor of a plan put forward by a United Nations agency to reduce planet-warming greenhouse gas emissions from ocean shipping.U.N. member nations are scheduled to vote next week on the International Maritime Organization's Net-Zero Framework proposal to reduce global carbon
TKMS, the defence business that German conglomerate Thyssenkrupp aims to spin off this autumn, plans to raise its profit margin to more than 7% to close a gap with rivals, banking on soaring military demand amid fears of Russian aggression.TKMS, which makes submarines, frigates as well as sensor and mine-hunting technology, has more than tripled its order backlog in five years.
U.S. President Donald Trump's administration is on a mission to weaken China's global network of ports and bring more strategic terminals under Western control, according to three sources familiar with the plan.The drive is part of the most ambitious effort to expand U.S. maritime influence since the 1970s and is designed to address growing fears in Washington that it would be at a disadvantage
While global energy markets are not yet pricing in worst-case scenarios for the Israel-Iran war, oil tanker rates are providing a good real-time gauge of the escalating risks.Geopolitical risk has spiked following Israel's surprise bombardment of the Islamic Republic last Friday and Iran's retaliatory ballistic missile strikes, leading to a rally in global energy prices
An LPS 550 fitted with an electric drive from Liebherr’s Baltic-side production facility has been delivered to Middlesbrough to increase PD Ports’ productivity. The new machine will focus on bulk work at Teesport, complementing two sister cranes commissioned in 2023, strengthening hatch coverage and maintaining consistent cycle times.
J.F. Lehman & Company, an alternative asset manager focused on the aerospace, defense, government, maritime, environmental and infrastructure sectors, has announced that investment affiliates, including JFL Equity Investors VI, L.P., have acquired Forged Solutions Group, Inc. (FSG).
French offshore marine services company Bourbon has completed a financial and capital restructuring, with Davidson Kempner Capital Management LP and Fortress Investment Group becoming its majority shareholders.The restructuring marks the start of a new strategic phase aimed at improving profitability, enhancing organizational efficiency, and expanding market presence.
The Shipbuilders Council of America (SCA), the national association representing the U.S. shipbuilding, maintenance, and repair industry, announced its annual member safety awards for the 2024 calendar year. This year, 14 shipyards are receiving awards for their achievements in safety. The shipbuilding industry continues to improve on safety metrics year after year.
Florida-headquartered Seascour has struck a second deal to supply its organic marine descaler product on one of the Great Lakes most famous vessels, The Wilfred Sykes.The iconic steam powered bulk freighter built in 1949 operated by Indiana based Central Marine Logistics, has just received its second application of Seascour.
ABS Wavesight, the ABS-affiliated software-as-a-service (SaaS) company, has been chosen by Navios Maritime Partners L.P. to provide a single integrated platform to support compliance with the FuelEU Maritime Regulation and EU Emissions Trading Scheme (ETS) requirements.As of January 1, 2025