Seatrium Limited signed a Letter of Intent (LOI) with Karpowership, a global energy company and the owner, operator, and builder of the world’s largest Powership (floating power plant) fleet.Under the LOI, Seatrium will carry out the integration of four New Generation Powerships, with an option for two additional units.
Order intake, exports, and green technology demand fuel confidence for 2025Germany’s maritime equipment and offshore supply industry is posting steady growth in 2024 and setting an optimistic course for 2025, according to new figures released by the VDMA Marine Equipment and Systems Association.With an average turnover increase of 5.
▶ Medium-sized containerships to be built by 2028, supported by design, procurement, equipment, and strategic technology investmentHD Hyundai launched a strategic shipbuilding collaboration in the United States, signing with U.S.-based Edison Chouest Offshore (ECO) to establish a strategic and comprehensive partnership for the construction of U.S. commercial vessels.
ABB has secured a large order by Seatrium, a global provider of marine engineering solutions based in Singapore, for the supply of electrical equipment and automation solutions on a new generation of floating production storage and offloading (FPSO) vessels for operator Petrobras.The two vessels, P-84 and P-85, will be deployed in the Atapu and Sépia fields
Bardex, a global leader in products and engineering services that tackle marine-based challenges, is honored to be a Ventus Award finalist. The awards, in eleven categories, recognize and celebrate people and products that advance the feasibility and adoption of offshore wind and other ocean renewables.
Canada’s Marine Communications and Traffic Services received a MAYDAY on Saturday from the MSC Baltic III as it ran aground located approximately 12 nautical miles outside the entrance to Bay of Islands, Newfoundland and Labrador, Canada.The vessel reported a loss of power, and unable to secure an anchor in the adverse conditions, grounded in Wild Cove west of Lark Harbour.
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.
At a recent seminar in London organized by the International Underwriting Association of London (IUA) and the Association of Average Adjusters (AAA), participants heard how ignoring or not fully understanding the concept of General Average (GA) when concluding charter-party contracts for offshore services could cause problems in the event of an incident or accident.
Italian Navy divers have recovered video surveillance equipment from the superyacht that sank off Sicily last month, killing British tech tycoon Mike Lynch and six other people, a source close to the matter said on Friday.The recovery of the equipment could help explain why the British-flagged Bayesian went down during a severe and sudden storm off the port of Porticello, near Palermo, on Aug.
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.
The $5.4 trillion global maritime industry faces a perfect storm of cyber vulnerabilities, and a new government regulation aims to be the lighthouse guiding stakeholders to safer digital harbors.On January 17, 2025, the US Coast Guard (USCG) published a final rule titled “Cybersecurity in the Marine Transportation System
Starting March 1, 2025, ocean common carriers of containerized cargo are expected to file documented export strategies with the US Federal Maritime Commission (FMC) on an annual basis.The increased obligation is one of several notable developments on the horizon for the ocean shipping industry in 2025, says the Venable LLP international trade team.