Royal Caribbean cut its annual earnings forecast on Thursday, even after reporting a better-than-expected quarterly profit, as surging fuel costs linked to the Iran war weighed on the cruise operator.Still, its shares jumped 6% as demand for its vacation destinations remained resilient.
Swan Defence and Heavy Industries Limited (SDHI) has announced it will complete five offshore support vessels (OSVs) for Kakinada-based San Maritime India, marking a further step in the revival of the Pipavav shipyard.San Maritime has begun docking the vessels at SDHI’s yard in Pipavav for completion under IR Class, after which the ships are expected to serve offshore industry demand.
The U.S. Supreme Court is set to explore legal questions arising from the fraught history of U.S.-Cuban relations when it considers the scope of a 1996 law that lets U.S. nationals seek compensation for property confiscated by the communist-led Cuban government.The justices hear arguments on Monday in two cases centered on the federal law called the Helms-Burton Act, one involving U.S.
Great Lakes Dredge & Dock Corporation and Saltchuk Resources, Inc. announced a definitive agreement for Saltchuk to acquire Great Lakes at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies
Swan Defence and Heavy Industries Limited (SDHI), India’s largest shipbuilding and heavy fabrication company, won a defense export order from the Government of Sultanate of Oman to supply a state-of-the-art training ship. The vessel that will support the Royal Navy of Oman’s (RNO) advanced naval training and maritime operations, is expected to be delivered within 18 months.Measuring 104.25 x 13.
Norwegian shipbuilder Ulstein Verft has launched first of the two offshore wind commissioning service operation vessels (CSOVs) under construction at its yard for J.P. Morgan.On January 2, Ulstein Verft towed the CSOV yard number 322 from the dock hall to the outer dock, where the yard’s heavy-lift department installed the vessel’s tower using a crawler crane with a lifting capacity of up to 600
Equinor said it is complying with a stop-work order issued by the U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM), which ordered the suspension of offshore construction activities on the Empire Wind project citing national security concerns.Empire Offshore Wind LLC, the project company
A sanctioned liquefied natural gas (LNG) tanker made a ship-to-ship (STS) transfer off the coast of Malaysia after picking up a cargo from a Russian export terminal also under Western restrictions, according to two analytics firms.The operation appears to be the first known STS transfer of sanctioned Russian LNG, despite Western efforts to curb Moscow's energy revenues over its war in Ukraine.
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
The federal district court in Anchorage, Alaska, has entered final judgment against three Kodiak-based commercial fishing companies and their manager for multiple violations of the Clean Water Act.The court entered default judgments against company manager Corey Potter and F/V Knot EZ LLC, Aleutian Tendering LLC, and Alaska Tendering Company LLC, and imposed a civil penalty of $1,182
U.S. Transportation Secretary Sean P. Duffy has announced that the Maritime Administration (MARAD) has awarded $8.75 million in grants to revitalize U.S. shipyards and advance America’s maritime dominance.The funding is part of the Small Shipyard Grant program, which supports advanced training, workforce development and new technologies that strengthen U.S. shipbuilding and repair capabilities.
Fincantieri and TUI Cruises, a joint venture between TUI AG and Royal Caribbean Cruises, have launched Mein Shiff Flow, a dual-fuel cruise ship newbuild.A sister ship to Mein Schiff Relax, delivered in February 2025, the new unit is scheduled to enter service in mid-2026.With approximately 160,000 gross tons