As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers.
CK Hutchison's plan to sell most of its $22.8 billion ports business is unlikely to be finalised anytime soon, with political brinkmanship set to continue, and sources saying that a Sunday deadline for exclusive talks was likely to be extended.The Hong Kong conglomerate's plan to sell the business, which would include two ports along the strategically important Panama Canal
The outlook for the offshore support vessel (OSV) business has brightened considerably since the dark days of the previous decade and is possibly in a “Goldilocks moment” — not too weak and not too strong. While strengthening, it has not yet reached the point of significant new vessel ordering. Paradoxically, across maritime markets, observers are often concerned when exuberance gets out of hand.
Finland’s Border Guard is setting up a maritime surveillance centre together with other Baltic Sea states and the European Commission for the protection of critical undersea infrastructure in the Gulf of Finland, it said on Monday."Competent authorities must have the capability and the authority to intervene in situations occurring in the territorial sea and the exclusive economic zone
Title: Famous Irish MarinersAuthor: Emma ByrnePublication date: September 22, 2025ISBN 9781788494922 PRICE €17.99/£15.99 HBFORMAT 196x129 mm EXTENT 176ppAlso available as an eBook.Ireland has a rich history of famous – and infamous – mariners: from our earliest navigators, who may have reached North America – by currach – a thousand years before Columbus
The International Propeller Club announced its newly elected officers for 2025–2027. Members elected Costis J. Frangoulis, President of the Propeller Club of Piraeus, Greece, as International President at the Club’s 98th Annual International Convention in Lyon, France—a milestone that also marks the first non-American to hold the presidency in the organization’s 98-year history.
U.S.-based offshore and marine services company Otto Candies has acquired four multi-purpose support vessels (MPSVs) from Harvey Gulf International Marine.The vessels acquired by Otto Candies are the Harvey Blue-Sea, Harvey Sub-Sea, Harvey Deep-Sea, and Harvey Intervention. The value of the transaction was not disclosed.
A Finnish district court ruled on Friday that it does not have jurisdiction to prosecute the captain and two officers of the Eagle S oil tanker, who are accused of breaking undersea power and internet cables in the Baltic Sea last year.Finland has said the Eagle S is part of a shadow fleet of tankers used by Russia to circumvent sanctions on its oil exports.
DOF announce several project awards in the North America region, using vessels already in the region, securing more than 300 days of firm vessel utilization for a combined contract value of more than $60m, with options available.Skandi Skansen will be used for a mooring project in Guyana with expected commencement in October 2025 and an expected duration of approximately six weeks with further
Tugboat and towboat owners across the nation eye fuel efficiency and emission reduction technologies and techniques in advance of increasingly stringent regulations.he first half of 2025 has seen a great deal of attention on emissions from vessels, with an eye towards their continued reductions in the coming years.
Western sanctions imposed on Russia for invading Ukraine and aimed at cutting its oil revenues have led to the rise of a vast "shadow fleet" of tankers helping Moscow keep its crude exports flowing.Here are some key points about these unregulated vessels.WHY IS THIS FLEET IN THE NEWS?Estonia on Tuesday tried to stop an oil tanker, which the UK sanctioned last week
KERSHIP launched the construction of the first of two OPV 60M offshore patrol vessels for the Montenegrin Navy at its Lorient shipyard on April 24 in the presence of Mr. Dragan Krapovic, Minister of Defense of Montenegro, Ms. Anne-Marie Maskay, Ambassador of France to Montenegro, and numerous French and Montenegrin civilian and military personalities.