Odfjell SE and Japan’s Nissen Kaiun Co., Ltd. have formed a new Bergen-based joint venture, Odfjell Hakata Maritime AS, marking a significant expansion of their long-standing partnership and adding substantial capacity to the global chemical tanker market.The JV will launch with a fleet of 10 stainless-steel chemical tankers, equally contributed by the two companies.
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.
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 backers of a proposed 800-mile (1,287 km) gas pipeline in Alaska championed by U.S. President Donald Trump expect to complete a key engineering and cost study by the end of this year, Interior Secretary Doug Burgum said on Monday.The ambitious proposal to transport gas from Alaska's far north to the Gulf of Alaska has been talked about for decades but has received new impetus under Trump
Colonna’s Shipyard, Inc. (CSI) will invest $70m to acquire its fourth drydock, expected to have a lifting capacity of 25,000 tons and slated for delivery in the first half of 2028.“This new drydock acquisition is a testament to our continued dedication to innovation, quality service, and our steadfast investment in the future,” said Randall Crutchfield, Chairman & CEO, at Colonna’s Shipyard, Inc.
Davie Defense Inc. gives a first glimpse today of the “American Icebreaker Factory” – a planned $1 billion transformation of the historic Gulf Copper shipyard in Galveston, Texas.The American Icebreaker Factory concept was created in collaboration with Florida-based Pearlson, which has led major projects for leading American shipbuilders, including BAE Systems
ElbFeeder, a joint venture of the Icelandic transportation company Eimskip and German listed ship-owner Ernst Russ, signed contracts for a pair of 2,280-TEU container vessels with the shipyard China Merchants Jin Ling Shipyard (Nanjing) Co. Ltd. The newbuildings will be an addition to the ElbFeeder joint venture and expand it to a total of nine vessels.
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
Inmarsat Maritime, a Viasat company, has announced Caribe Tankers USA, Inc (CTU) will trial Inmarsat’s fully managed bonded connectivity service, NexusWave, on board the chemical tankers Caribe Maria and Caribe Luna as the company seeks a reliable solution to best serve operational and crew connectivity.
Europe soaked up most U.S. liquefied natural gas (LNG) exports for the second straight month in February, as cold weather and strong prices pushed up demand for the superchilled gas across the Atlantic, according to preliminary data from financial firm LSEG.The U.S. is the world's largest exporter of LNG and continues to play a major role in supplying Europe since Russia's invasion of Ukraine
Kraken Robotics Inc. announced the passing of founder and former CEO, Karl Kenny on February 11, 2025, at the age of 64. Karl founded Kraken in 2012 and was instrumental in building the company into a leading player in subsea robotics over his 10-year tenure, before retiring in December 2022.