Newbuilds expand AET’s dual-fuel fleet to all of its sectors: Aframaxes, Shuttle Tankers, Suezmaxes and Very Large Crude Carriers (VLCCs)AET signed shipbuilding agreements with Samsung Heavy Industries (SHI) for the construction of two LNG dual-fuel Suezmax tankers.The vessels will further expand AET’s growing dual-fuel fleet operating worldwide.
St. Catharines, Ontario–based Algoma Central Corporation (TSX: ALC) reported a solid third quarter for 2025, marked by fleet milestones, steady revenue growth across segments, and ongoing investment in next-generation vessels.For the quarter ended September 30, Algoma posted revenue of C$228 million, up from C$205 million a year earlier, and EBITDA of C$89.7 million, a 19% increase year-over-year.
Britain targeted Russia's two largest oil companies, Lukoil and Rosneft, and 44 shadow fleet tankers on Wednesday in what it described as a new bid to tighten energy sanctions and choke off Kremlin revenues.Lukoil and Rosneft were designated under Britain's Russia sanctions laws for what London described as their role in supporting the Russian government.
The Australian Government is accelerating the delivery of a larger and more lethal surface combatant fleet with the selection of the upgraded Japanese Mogami-class frigate as the preferred platform for the Royal Australian Navy’s future fleet of general purpose frigates.Mitsubishi Heavy Industries’ Mogami-class frigate was assessed as best able to quickly meet the capability requirements and
A tow pilot’s distraction caused by personal cellphone use resulted in a collision last year with moored barges on the lower Mississippi River, according to the National Transportation Safety Board.The towing vessel William B Klunk was pushing 22 loaded hopper barges on April 17, 2024, when the tow collided with moored barges at a fleeting area near Baton Rouge.
President Donald Trump's 'Big Beautiful Bill' earmarks more than $8.6 billion to increase the U.S. Coast Guard icebreaker fleet in the Arctic, where Washington hopes to counter rising Russian and Chinese dominance.The funding includes $4.3 billion for up to three new heavy Coast Guard Polar Security Cutters, $3.
Global insurer Allianz Commercial recently issued its 2025 Safety & Shipping Review, examining maritime risk trends and losses. The report revealed that the shipping industry has made significant improvements when it comes to maritime safety in recent years. During the 1990s the global fleet was losing 200+ vessels a year.
Japan is world’s third largest shipping nation as owners control 12% of the fleet“Combined, Japanese shipowners currently own 12% of the global fleet’s deadweight tonnes capacity (DWT). This makes Japan the third largest shipowning country in the world and one of only three countries where shipowners control more than 10% of the global fleet’s DWT capacity,” says Niels Rasmussen
In the ever-evolving world of maritime trade, ship ownership is a key indicator of economic influence and global commerce. As we enter 2025, Veson Nautical offers its Top 10 Ship Owning Nations, offering a detailed analysis of fleet values and industry shifts. This year, China has surged to the top, overtaking Japan in total fleet value
Seanergy Maritime Holdings Corp. has entered into two definitive agreements with unaffiliated third parties in Japan for the purchase of a Japanese-built Newcastlemax vessel and a bareboat charter with a purchase obligation for one Japanese-built Capesize vessel, for approximately $69 million.
James Fisher and Sons has ordered four new LNG dual-fuel tankers from China Merchants Jinling Shipyard (Yangzhou) Dingheng as part of its ‘fleet of the future’ business strategy.The new tankers, which will carry oil products and IMO Class II chemicals, will have LNG dual-fuel propulsion capability
“At the end of 2024, the container ship order book was 8.3m TEU, a new record compared with the previous high of 7.8m TEU in early 2023,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.As 4.4m TEU were contracted during 2024, the second highest ever, the order book grew despite deliveries hitting a new record high of 2.9m TEU.