U.S. President Donald Trump wants a pay raise for troops, more high-tech missiles and drones in next year's defense budget, while cutting Navy jobs, and buying fewer ships and fighter jets to save money, according to budget materials posted Wednesday.At $892.6 billion, the defense and national security budget request is flat compared with this year.
On April 30, Senator Mark Kelly (D-AZ), together with several original co-sponsors, reintroduced the SHIPS for America Act in the U.S. Senate, first introduced in December 2024, divided into two bills. Companion legislation was also introduced in the U.S. House of Representatives by Rep. Trent Kelly (R-MS) and Rep. John Garamendi (D-CA). This is a major, historic effort to revitalize the U.S.
U.S. Trade Representative Jamieson Greer told lawmakers on Tuesday that not all of the agency's proposed multimillion-dollar fees for Chinese-built ships to dock at U.S. ports will be implemented, and they may not be cumulative.Greer told a Senate Finance Committee hearing that the proposals were made to address a lack of shipbuilding in the United States.
Shares in South Korean shipbuilders HD Hyundai Heavy Industries and Hanwha Ocean rose more than 15% and 16%, respectively, today, after two U.S. senators debuted a bill to allow the U.S. Navy to build naval vessels in a shipyard located in a U.S. allied country.Senators Mike Lee (R-UT) and John Curtis (R-UT) have introduced two new bills aimed at enhancing the readiness and capabilities of the
President Donald Trump said that Elon Musk will lead an audit of the Pentagon, aiming to uncover what he claims could be "hundreds of billions of dollars" in fraud and abuse.During a Super Bowl interview with Fox News' Bret Baier, Trump revealed his plans to instruct Musk to broaden his oversight beyond the Department of Education to include the Department of Defense.
Brazilian President Luiz Inacio Lula da Silva has signed into law a bill authorizing the development of offshore wind farms, a statement said late on Friday, a bid to strengthen the country's energy security and spark a wave of investment.The new law foresees incentives for the development of offshore energy projects in Brazilian territorial waters, the statement said.
The bipartisan, bicameral bill will fuel U.S. economy, strengthen national security by responding to China’s threat over the oceans. Currently, the number of U.S.-flagged vessels in international commerce is 80; China has 5,500.Today, Senator Mark Kelly (D-AZ), Senator Todd Young (R-IN), Representative John Garamendi (D-CA-8)
The union representing 45,000 East Coast and Gulf Coast dockworkers and a group representing employers will resume negotiations next month toward reaching a new six-year contract ahead of a Jan. 15 deadline, they said on Friday.The International Longshoremen's Association union agreed to end a three-day strike on Oct.
U.S. East Coast and Gulf Coast ports began reopening late on Thursday after dockworkers and port operators reached a wage deal to settle the industry's biggest work stoppage in nearly half a century, but clearing the cargo backlog will take time.The strike ended sooner than investors had expected, weakening shipping stocks across Asia on Friday as freight rates were no longer expected to surge.
A Greek appeals court on Friday reduced the prison sentences of 11 men involved in trafficking 1.2 metric tons of cocaine from the Caribbean into Europe and Africa, in one of the biggest drug busts in Greece's history.Greek police said in 2020 it had dismantled the criminal group after a months-long investigation with assistance from the United States' Drug Enforcement Administration (DEA) and
A power outage in the Rotterdam port area in the Netherlands briefly interrupted operations at one of Europe's biggest oil refineries on Tuesday, the plant's operator BP said.Electricity grid operator TenneT said the problem was solved shortly after 1000 GMT. It said that BP's 400,000 barrels per day oil refinery, Europe's second largest, was among the plants affected
Divers scoured the wreck of a luxury yacht off Sicily's coast on Tuesday to find six missing people, including British tech entrepreneur Mike Lynch and a Morgan Stanley executive, following an intense storm that sank the vessel on Monday.The British-flagged Bayesian, a 56-metre-long (184-ft) superyacht, was carrying 22 people and anchored off the port of Porticello when it was hit by the fierce