China and Russia on Tuesday vetoed a U.N. resolution encouraging states to coordinate efforts to protect commercial shipping in the Strait of Hormuz, calling the measure biased against Iran, while Washington's ambassador to the world body called on "responsible nations" to join the U.S. in securing the waterway.
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.
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.
U.S. President Donald Trump wants a pay raise for troops, more high-tech missiles and drones in next year's defense budget, while cutting Navy jobs, and buying fewer ships and fighter jets to save money, according to budget materials posted Wednesday.At $892.6 billion, the defense and national security budget request is flat compared with this year.
Zelim announced the appointment of Mike Collier as Sales Director, effective January 2026. He will lead the organization’s focus on key sectors globally including the cruise and defense industries.Mike joins Zelim from MARSS, where he led business development for the cruise and defense sectors.
Oil prices slid about 2% on Thursday after U.S. President Donald Trump softened threats against Greenland and Iran, and as investors assessed the supply-demand outlook.Brent futures fell $1.01, or 1.6%, to $64.23 a barrel at 11:26 a.m. EDT (1626 GMT). U.S. West Texas Intermediate (WTI) crude fell 96 cents, or 1.6%, to $59.66 a barrel, headed for its lowest close since January 15.
German defense technology company Helsing has started a process of acquiring Blue Ocean, an Australian-based ocean technology company that designs, develops, and operates autonomous underwater vehicles (AUVs).The acquisition will integrate Blue Ocean’s hardware and manufacturing capabilities with Helsing’s Artificial Intelligence (AI), integrating Blue Ocean’s team and operations into Helsing
Offshore wind services firm Empire Energy and logistics giant Kuehne+Nagel have entered into a partnership to provide integrated solutions for offshore wind developers and OEMs, combining project delivery with global logistics capabilities.The companies said the collaboration will reduce complexity and risk while increasing efficiency across the offshore wind lifecycle, from turbine assembly
The U.S. Coast Guard exercised a contract option with Bollinger Shipyards of Lockport, Louisiana, to fund initial construction on 10 additional Fast Response Cutters (FRCs), a $507 million option that supports ongoing efforts to modernize the fleet and expand the Coast Guard’s global maritime mission.The action increases the total number of FRCs ordered under the current agreement from 67 to 77.
As the global shipping industry grapples with a plethora of regulatory, technological and sustainability shifts, few sectors embody both the challenges and opportunities as acutely as the ferry industry.Interferry leads the charge to ensure there is balance, rationalizing legislative mandate with market, technical and economic reality.
U.S. Representative Dusty Johnson (R-S.D.) introduced legislation to reauthorize the Federal Maritime Commission (FMC), the independent federal agency responsible for regulating the U.S. international ocean transportation system.“Ocean shipping is a critical aspect of America’s national, food, and economic security.
With the 500th tug designed by Robert Allan and equipped with SCHOTTEL propulsion systems, the Canadian naval architect and German propulsion specialist companies have now reached a very special milestone in their long-standing partnership.Tug number 500 is one of a pair for KOTUG Canada, which are currently being built at Turkish Sanmar shipyards.