Shippers on Wednesday said they needed more clarity on the terms of the U.S.-Iran ceasefire before resuming transit through the Strait of Hormuz, as Iran said the waterway remained closed to vessels sailing without a permit.The six‑week conflict had brought traffic through the strait - a chokepoint for about 20% of global oil and liquefied natural gas (LNG) shipments - close to a standstill
Dorian LPG took delivery of its 93,000 cubic meter (cbm) dual-fuel newbuilding named Areion an LPG and ammonia very large gas carrier (VLGC/AC) from Hanwha Ocean Heavy Industries Co., Ltd. at the Okpo Shipyard in South Korea. Areion will commence employment on charter under the Helios LPG Pool, an entity jointly controlled by Dorian LPG Ltd and MOL Energia Pte Ltd.
Major US maritime organizations have issued statements voicing their concern over the Trump Administration’s decision to issue a sweeping 60-day waiver of the Jones Act.Under the Jones Act, goods shipped between U.S. ports must be carried on vessels that are U.S.-built, U.S.-flagged and mostly U.S.-owned. A coalition of U.S.
The Trump administration is considering waiving the century-old Jones Act for a limited period to ensure energy and agricultural shipments can move freely between U.S. ports, press secretary Karoline Leavitt said on Thursday, in a bid to combat Iran-related supply disruptions."In the interest of national defense
Fincantieri has launched Italian Navy’s newly built hydro-oceanographic ship (N.I.O.M.) Quirinale at its integrated shipyard in Riva Trigoso, marking a milestone in Italy’s maritime research and monitoring capabilities.The vessel, designated N.I.O.M. Quirinale, has been designed to support scientific mapping and monitoring activities and will operate in support of the Italian Navy Hydrographic
As global demand for data storage and processing accelerates — driven by cloud computing, streaming media, and the explosive growth of artificial intelligence — the physical footprint of data centers has become a growing challenge. Land-based facilities face mounting constraints: limited space, water scarcity, grid congestion, long permitting timelines and rising community opposition.
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
European defense giant Rheinmetall has signalled interest in taking over German shipbuilder Naval Vessels Luerssen, industry sources told Reuters on Wednesday, as the Duesseldorf-based firm looks to expand into the naval business.According to the Bild newspaper, which first reported Rheinmetall's plans, the supervisory board intends to consider the purchase in the coming weeks.
Chevron will proceed with its $53 billion acquisition of Hess, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.Shares of Chevron were up 3.6% in premarket trading, with Hess gaining nearly 7.4%. Exxon shares were up 0.3%.CNBC first reported the arbitration outcome.
Australia’s BHP Group has signed contracts with COSCO Shipping Bulk, a subsidiary of COSCO Shipping, for the charter of two ammonia dual-fueled Newcastlemax bulk carriers.The new vessels to be built under the arrangement will be two of only a handful of vessels in the world capable of using ammonia as a marine fuel.
When tensions rise in the Middle East, it can be helpful to look at what is not happening as much as what is.In the crude oil market, this means focusing on the fact that so far not a single barrel of crude oil supply has been lost. It is in the interests of all involved parties that this remains the case.
Amplus Energy Services has selected Astican Shipyard in Las Palmas de Gran Canaria to undertake a major multi-million-dollar work scope to prepare its newly-acquired Petrojarl I floating production, storage and offloading (FPSO) unit for redeployment.The Petrojarl I - most recently in operation offshore Brazil - will undergo a critical reactivation and readiness program at the Spanish facility