Belgium-based offshore installation services company DEME has completed the acquisition Havfram, an offshore wind installation contractor based in Norway, in a deal valued at approximately $1.02 billion (€900 million).The transaction, first announced in April 2025, has passed all customary closing conditions.
At the 163rd ABS Annual Members Meeting, the classification society says it has never been stronger, with substantial growth and leading safety performance reported. Key numbers in 2004 included the fleet growing to 300 million gross tons, giving it pole position in global class in global new order share with 22 percent.
The Maritime and Port Authority of Singapore (MPA) has reported that a moored Belize-registered dredger, KSE Hitachi, had sunk off Tuas in Singapore.According to MPA, there were no personnel reported to be on board the dredger at the time of the incident, with port operations remaining unaffected.
The United States will "take back" the Panama Canal from Chinese influence, U.S. Defense Secretary Pete Hegseth said on Tuesday during a visit to the Central American nation.After talks with Panama's government, Hegseth vowed to deepen security cooperation with Panamanian security forces and said China would not be allowed to "weaponize" the canal by using Chinese firms' commercial relationships
U.S. President Donald Trump will restore his "maximum pressure" campaign on Iran and drive its oil exports down to zero, a U.S. official said on Tuesday.Iran has repeatedly threatened to close the Strait of Hormuz for traffic as a retaliation for Western pressure. That would shut down the region's trade and lead to a spike in oil prices.
An undersea fibre optic cable between Latvia and Sweden was damaged on Sunday, likely as a result of external influence, Latvia said, triggering an investigation by local and NATO maritime forces in the Baltic Sea."We have determined that there is most likely external damage and that it is significant
A Russian cargo ship called Ursa Major sank in the Mediterranean Sea after an explosion ripped through its engine room and two of its crew are still missing, the Russian Foreign Ministry said on Tuesday.The vessel, built in 2009, was controlled by Oboronlogistika, a company that is part of the Russian Defence Ministry's military construction operations
Satellite images obtained by Reuters on Thursday show a build-up of Chinese civilian vessels near contested Thitu Island, Manila's key outpost in the South China Sea, but a senior Philippine navy officer said they are "not a cause for concern".One of the images taken by Maxar Technologies on Monday and reviewed by Reuters shows about 60 vessels, some within 2 nautical miles of Thitu
The Panama Canal Authority could double in coming years the number of containers that move through the commercial waterway that links the Pacific and the Atlantic oceans, the canal's chief told a maritime conference.The authority, which has an $8 billion investment plan, is putting in place a water conservation strategy following a severe drought that forced ships between late 2023 and early
U.S. Gulf of Mexico energy firms on Friday were lumbering back from hurricane disruptions as offshore oil and gas producers ramped up operations after halving the key energy region's output, ports reopened, and onshore terminals accepted oil and liquefied natural gas (LNG) tankers.Hurricane Francine shut in up to 42% of the region's offshore oil and 53% of its natural gas production.
One person has died and another is missing after a commercial tanker struck a recreation vessel near Port Aransas, Texas.The U.S. Coast Guard said it received a call from a good Samaritan via channel 16 at 5:28 a.m. reporting the collision between. The recreational vessel, reported to be a commercial pleasure boat, became partially submerged, and the four people on board went into the water.
The Panama Canal will increase the total number of vessels authorized to pass through the waterway to 34 per day following rains that have allowed water levels to recover, its authority said late on Monday.The new slots will be effective in July. The maximum draft for ships transiting the canal's largest locks will also be increased to 46 feet starting in mid June