Britain targeted Russia's two largest oil companies, Lukoil and Rosneft, and 44 shadow fleet tankers on Wednesday in what it described as a new bid to tighten energy sanctions and choke off Kremlin revenues.Lukoil and Rosneft were designated under Britain's Russia sanctions laws for what London described as their role in supporting the Russian government.
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
The U.S. Coast Guard’s Facilities Design and Construction Center completed a contract modification with The Whiting-Turner Contracting Company Aug. 25 to remove up to 100 submerged concrete piles under the old Pier November at Base Charleston in North Charleston, South Carolina. The modification, with a potential value of approximately $14.
South Korea's HD Hyundai Heavy Industries, the world's biggest shipbuilder, said on Wednesday that it plans to merge with its affiliate HD Hyundai Mipo as it targets a bigger slice of the U.S. shipbuilding market.With the merger, the company said it aims to lead U.S.-Korea shipbuilding cooperation projects touted during a recent summit between the leaders of the countries that Seoul has dubbed
U.S. President Donald Trump's administration on Tuesday unveiled a comprehensive schedule to hold more than 30 offshore oil and gas lease sales in the Gulf of Mexico and Alaska's Cook Inlet over the next 15 years.The plan fulfills a directive in Trump's One Big Beautiful Bill Act, which passed last month
The military and Coast Guard budgets are established that will benefit the U.S. ship building and repair sector, but what will stimulate the commercial yards?This author has been scratching his head of late, after a thrilling dive into July’s U.S. Big Beautiful Bill Act, and has asked several colleagues where the funding for support commercial shipbuilding can be found? To answer that
Vard, the Norwegian subsidiary of the Group and one of the world's leading builders of specialized vessels, has signed a new contract with the US research organization Inkfish for the design and construction of an advanced research vessel. The deal is valued at over USD$233 million (€200 million).
[The following are exerpts and paraphrasing from testimony given by Matthew O. Paxton, President of the Shipbuilders Council of America (SCA), to Congress on the morning of February 26, 2025.]While maritime strength and shipbuilding historically have been a cornerstone of global power, shifting times and geopolitical pressures impact readiness and output.
Cyber, business interruption and natural catastrophes are the risks of most concern for businesses globally according to the Allianz Risk Barometer 2025 - as voted for by a record 3,778 risk management experts from 106 countries and territories.Cyber incidents (38% of responses, a record 7% points ahead) consolidates its position as the most important risk.
You would be hard pressed to find a corporate leader more passionate about the company they lead; more dedicated to the customer they serve. In this case it’s George Whittier, CEO, Fairbanks Morse Defense and the U.S. Navy. Upon his return less than five years ago, Whittier has driven FMD towards the top of the U.S. Navy supply heap, with a string of strategic acquisitions.
President-elect Donald Trump's support for the fossil fuel sector and climate scepticism have sparked dismay throughout the global climate tracking community, and fears that his policies may reverse global energy transition momentum.His campaign speeches included pledges to boost domestic oil and natural gas output and to remove mandates on electric vehicle production
At one of the world's biggest bulk export ports in Western Australia, shippers safely completed the first transfer of ammonia from one vessel to another last month, a key test for its adoption as a marine fuel in the push for cleaner energy.The first cargo ships powered by ammonia are set to enter service in 2026