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.
Seatrium and BP have signed the Memorandum of Understanding (MOU) in preparation for a second project, the Tiber Floating Production Unit (FPU), in the U.S. Gulf of America.Under the MOU for the Tiber project, Seatrium would provide services to carry out the engineering, procurement, construction
Odyssey Marine Exploration, Inc., a U.S.-based ocean exploration and marine resource development leader, received news that the Bureau of Ocean Energy Management’s (BOEM), a department of the U.S. Department of Interior (DOI), has initiated the formal review process for its unsolicited request for a potential marine mineral lease sale in federal waters offshore Virginia.
To advance President Trump’s national strategy for securing America’s critical mineral supply, the Bureau of Ocean Energy Management has initiated the process for a potential mineral lease sale in federal waters off the coast of Virginia. This action—only the third of its kind in over three decades—marks a step toward unlocking the vast mineral potential of the U.S.
HII executives toured Breaux Brothers Enterprises in Loreauville, Louisiana, and announced that construction of a prototype of ROMULUS, the company’s new unmanned surface vessel (USV) family, has reached 30% completion. The vessel remains on schedule for sea trials in the fourth quarter of 2026.
BP, Chevron and Shell were among the top bidders on Wednesday at the U.S. government's first sale of oil and gas drilling rights in the Gulf of Mexico since 2023.The auction, which ended with $279.4 million in high bids, was the first of 30 mandated by U.S. President Donald Trump's tax cut and spending bill, which he signed into law in July.
Odyssey Marine Exploration said on Friday it has sought U.S. regulators' permission to explore and mine mineral-rich sands off the Mid-Atlantic coast, as the country bolsters domestic supplies of materials vital for various industries.The site is believed to hold heavy mineral sands containing titanium, zirconium, rare earth elements and phosphate - materials vital to defense, electronics
First High-Tech Exploration of Argentina’s Mar del Plata Canyon, Schmidt Ocean Institute’s Remotely Operated Vehicle SuBastian shines light on an offshore canyon in Argentine waters nearly twice as deep as the Grand Canyon — capturing images and video of 40 suspected new species, coral fields, and a seastar that resembled a famous cartoon character.
A study led by the UK’s National Oceanography Centre (NOC) has found that natural hazards account for around a quarter of all recorded instances of subsea cable damage between 1965 and 2019, posing a threat to the growing infrastructure underpinning global connectivity.While human activities like fishing and anchoring remain the primary causes of damage
Odyssey Marine Exploration, Inc. is pleased to see the issuance of a new Executive Order titled Unleashing America’s Offshore Critical Minerals and Resources. In addition, the company confirms that it currently has no specific plans to issue any securities under its universal shelf registration statement on Form S-3
Singaporean shipbuilder Strategic Marine has signed a shipbuilding contract with Odyssey Group for a multi-purpose survey vessel, which will operated offshore Australia.Under the terms of the agreement, Strategic Marine will construct the advanced survey vessel tailored to meet Odyssey Group’s specific operational needs.
Furuno has introduced TZ MAPS on its NavNet TZtouchXL system, delivering what it calls the most advanced and customizable charting platform ever developed for recreational and professional mariners.TZ MAPS unlocks new features on TZtouchXL multi-function displays, including AI Routing, AI Avoidance Route™ and BathyVision™.