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.
Norwegian offshore vessel owner Solstad Maritime has sold its Normand Clipper construction support vessel (CSV) to Global Maritime Group.Global Maritime Group, the current charterer of the vessel, declared the purchase option for the Normand Clipper, with the deliver of set to take lace at the end of the firm contract period on June 1, 2026.
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.
Interferry, the global association representing the ferry industry, announced the appointment of six new members to its Board of Directors. These new director appointments, approved at the Annual General Meeting (AGM) in Sorrento on October 6, reflect the diversity and global reach of the ferry industry.
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.
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
The currents in Singapore can be so strong that divers cleaning fouling from a ship’s hull can feel like they are swimming in a river. There’s times when it’s just not safe for them to be there.The currents can be a problem for robotic cleaners as well, but for ship operators, the bigger problem is having to wait long after cargo operations have concluded while the hull is cleaned by either
Technology group Wärtsilä has made its carbon capture solution (CCS) commercially available to the global maritime industry, aimed at accelerating the decarbonization of shipping.According to Wärtsilä’s tests, the new ‘Wärtsilä Carbon capture solution’ is proven to reduce vessel CO2 emissions by up to 70%
In the last decade, changing U.S. Administrations have become increasingly tumultuous, as the swings in priorities and directives have a real, material impact on business. Read on for insights on the current and future of U.S. Offshore Wind.In the weeks preceding his late January inauguration
Havila Shipping has not had its case upheld in Oslo District Court and will appeal the judgment.In January and March, the company filed a lawsuit against DnB Bank ASA, Danske Bank AS NUF, and Swedbank AB (publ).The banks have maintained that Havila Shipping breached refinancing terms by converting of debt to equity and conducting a bond issue.
Solvang has a Letter of Intent (LOI) with Seatrium for the installation and retrofitting of a full-scale carbon capture and storage (CCS) systems.The retrofit on Solvang's new series of very large gas carriers (VLGCs), configured specifically for CCS, is set to begin in late 2026.In April, steel was cut for the first two of seven Panamax VLGC at HD Hyundai Heavy Industries.
Corvus Energy has been selected as the supplier of Energy Storage Systems (ESS) for Statue City Cruises’ ferries servicing the iconic Statue of Liberty and Ellis Island routes in New York Harbor.Corvus Energy ESS will be integrated aboard Statue City Cruises’ current fleet of nine ferries and will reduce fuel consumption and emissions along the New York/New Jersey waterfront.