Finland's public transport agency said that an oil tanker suspected of damaging undersea cables in the Baltic Sea was found to have serious deficiencies and will not be allowed to operate until repairs have been made.Baltic Sea nations are on high alert after a string of power cable, telecom link and gas pipeline outages since Russia invaded Ukraine in 2022.
HII announced today that it has entered into a definitive agreement to acquire substantially all of the assets of W International SC, LLC and Vivid Empire SC, LLC (collectively “W International”), a South Carolina-based complex metal fabricator specializing in the manufacture of shipbuilding structures, modules and assemblies.
Offshore drilling contractor Seadrill is looking to buy more assets or create a larger player by merging with peers, the company's CEO said on Wednesday.Norwegian-born billionaire John Fredriksen lost the control of the company, once the world's largest driller by market cap, to its creditors over two debt restructurings since 2014.
A global operational alliance between two of the world’s largest container shipping companies will not go into effect next week as planned following a move by the U.S. Federal Maritime Commission to study the potential competitive impacts of the arrangement.The FMC said on Friday it is seeking more information to determine the potential competitive impacts of the proposed Gemini Cooperation
French energy giant TotalEnergies and OQ Exploration and Production (OQEP), Oman's national oil company, have held the ground breaking ceremony for the Marsa LNG plant, marking the start of construction of the Marsa LNG plant in the port of Sohar, northern Oman.The ground breaking ceremony was held one year after the Final Investment Decision (FID) for the project
In accordance with a halt work order issued by the US government, Empire Offshore Wind LLC (Empire) will safely halt the offshore construction in waters of the outer continental shelf for the Empire Wind project.On 16 April, Empire received notice from the Bureau of Ocean Energy Management (BOEM)
Renewable energy company Source Galileo has signed a non-exclusive memorandum of understanding (MoU) with Portland Port, a commercial port on the South Coast of England, to jointly advance offshore wind development off Dorset coast in English Channel.Portland Port has a history of servicing the offshore wind sector and is in discussions with potential partners to enable and support the future
Zelim, an Edinburgh-based maritime safety innovator, has appointed a former Commander of the United States Coast Guard (USCG) Matthew Mitchell to lead its U.S. office as part of the strategy to open new markets for its man-overboard and security threat detection and recovery technologies.
Pangaea Logistics Solutions Ltd., announced a definitive agreement to purchase the remaining 50% equity ownership of its consolidated subsidiary, Nordic Bulk Partners LLC, from HS Nordic LLC, for $17.2 million in cash.The deal is expected to be completed by November 1, 2024. It will see Pangea own 100% of the equity in Nordic Bulk Partners
The U.S. Department of Transportation’s Maritime Administration (MARAD) on Wednesday announced $8.75 million in grant awards to 15 small shipyards in 12 states through the Small Shipyard Grant Program. The funds will help shipyards modernize, increase productivity, and expand local job opportunities while competing in the global marketplace.
Turkey-based tanker operator Palmali on Friday lost its London lawsuit against the trading arm of Russian oil producer Lukoil over a purported deal to provide oil products.Palmali, controlled by Azerbaijan-born businessman Mubariz Mansimov, first sued Lukoil's Swiss subsidiary Litasco at the High Court in 2017 and was initially seeking nearly $2 billion.
The sale of nuclear-powered submarines to Australia under the AUKUS treaty faces new doubts as U.S. President Donald Trump's tariffs take hold, and amid concern in Washington that providing the subs to Canberra may reduce deterrence to China.Whether the United States can boost submarine production to meet U.S.