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
South Korea's Hanwha Group has agreed to acquire U.S. shipbuilder Philly Shipyard in a $100 million cash deal, the companies announced on Thursday.Under the deal, which is expected to close in Q4 2024, Hanwha Systems and Hanwha Ocean will purchase purchase of Philly Shipyard, Inc., the sole operating subsidy of Aker-owned Philly Shipyard ASA, based in Oslo.
The Trump administration lifted an official stop-work order that had been in place for an entire month on Empire Wind. The project is a $5 billion offshore wind farm being built off the coast of New York. The decision was made after weeks of negotiations by federal officials and New York State representatives, which culminated in a wider compromise.
Havila Shipping ASA announces its Q4 2024 financial results, highlighting steady freight revenues, strong fleet utilization, and the successful completion of a major debt restructuring.Key Financial Highlights (Q4 2024):Freight revenues: NOK 148.0 million, consistent with Q4 2023 and up NOK 7.1 million from Q3 2024.
Belships ASA, a leading shipowning company specializing in Ultramax vessels, reported solid financial results for the fourth quarter of 2024, showcasing the growth of its fleet and robust profitability amidst challenging market conditions.:Belships posted an EBITDA of $19.4 million and a net profit of $7.5 million for Q4 2024.
Norwegian vessel owner and services provider Solstad Maritime Holding has outlined plans to apply for a listing of its shares on Euronext Oslo Børs during the second quarter of 2025.The listing is in line with the company’s previously expressed intention to list within 12 months after completion of its $66 million (NOK 750 million) equity raise in June 2024
A new era of offshore operations has begun with the successful delivery of REACH REMOTE 1, a 24-metre unmanned surface vessel (USV) designed by Kongsberg Maritime. This ground-breaking achievement marks a significant milestone through collaboration between Kongsberg Maritime, REACH SUBSEA ASA, Massterly, and Trosvik Maritime.
Norwegian offshore vessel owner Solstad Offshore has secured multiple new contracts and contract extensions, whose combined value is $60 million.Solstad secured one new contract, and one contract extension from Petrobras, for work offshore Brazil.Namely, Petrobras awarded an 18-month firm contract for the construction support vessel (CSV) Normand Valiant.
Norwegian offshore supply vessel company DOF Group has concluded the acquisition of Denmark-based Maersk Supply Service, which will be renamed to DOF Denmark.The combined company is expected to become one of the leading offshore service provider with comprehensive scale and a wide range of services across all continents in the offshore energy industries.
Cyber Security in the maritime and offshore energy space has come front and center, with new Cyber Security rules expected soon from the U.S. Coast Guard.How will these new rules impact your bottom line? If you are in New Orleans on November 13, 2024, sign up now for a free lunch and moderated conference discussion on new United States Coast Guard (USCG) cyber security rules and their impact on
Unifeeder A/S and MPC Container Ships ASA (MPCC) announced a new collaboration to make joint investments into energy efficiency technology (EET), a partnership that will see the parties unite to increase decarbonization and efficiency in maritime transport.Under the agreement, Unifeeder and MPCC will jointly invest in efficiency-enhancing retrofits with advanced EET solutions.
Norwegian short sea shipping company Wilson ASA announced its owner and long-serving chairman of the board, Kristian Eidesvik, has passed away. The 78-year-old died on August 7 after a period of illness, the company said.Eidesvik became an owner in Wilson around 1995. Following the IPO in 2005 he became the majority owner through his investment company Caiano AS