The headline grabbing global attention is simple enough: a shipowner reportedly paid more than $5 million for a single Panama Canal transit slot. But that may only mark the start of an historic surge in shipping costs.The vessel was a liquefied petroleum gas (LPG) carrier operated for South Korea's SK Gas.
Anemoi Marine Technologies’ Rotor Sail wind-assisted propulsion system has completed more than eight years of continuous commercial operation after M/V Afros successfully passed its second intermediate dry dock survey.The survey, conducted by Lloyd’s Register in China in April, confirmed the structural integrity and operational condition of the vessel’s four Rotor Sails, Anemoi said.
President Donald Trump's administration said on Monday that it had reached a deal to end two more U.S. offshore wind leases in exchange for $885 million in pledged investments in domestic fossil fuels.The projects, one in the Atlantic and one in the Pacific, are managed by Ocean Winds, a joint venture between France's ENGIE and Portugal's EDP Renewables.
The barge Defiant was refloated from the Castillo San Felipe del Morro shoreline in San Juan Harbor, Wednesday at approximately 2:22 a.m., just before high tide.Salvage crews and tugboat operators prepositioned three tugboats and completed all the preparations, including the pressurization of all cargo tanks, voids and compartments in the barge.
Cuban forces killed four people and wounded six others aboard a Florida-based speedboat that entered Cuban waters on Wednesday and opened fire on a Cuban patrol, the Cuban government said at a time of heightened tensions with the United States.The wounded were evacuated and receiving medical attention, while the Cuban patrol commander was also wounded, Cuba's Interior Ministry said in a statement
The U.S. Supreme Court is set to explore legal questions arising from the fraught history of U.S.-Cuban relations when it considers the scope of a 1996 law that lets U.S. nationals seek compensation for property confiscated by the communist-led Cuban government.The justices hear arguments on Monday in two cases centered on the federal law called the Helms-Burton Act, one involving U.S.
The Bureau of Ocean Energy Management announced a Proposed Notice of Sale for the third offshore oil and gas lease sale under the One Big Beautiful Bill Act. The proposed lease sale, known as Lease Sale Big Beautiful Gulf 3, or BBG3, is scheduled to take place on Aug. 12, 2026.This sale is the third of 30 Gulf of America oil and gas lease sales required by the One Big Beautiful Bill Act (Public
The U.S. Coast Guard coordinated the rescue of 27 mariners on Saturday after their Venezuelan-flagged fishing vessel caught fire approximately 500 miles north-northwest of the Galapagos Islands, Ecuador.At 3:51 p.m. PST, Saturday, Rescue Coordination Center Alameda received a notification from the Garmin Search and Rescue Command Center of an SOS distress alert from the 240-foot fishing vessel
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.
The future of maritime safety will not be determined by a choice between people and technology but will instead depend on how effectively the industry combines them. Capt. Naoki Saito, General Manager and Head of the Cyber Security Ship Management Systems Department, ClassNK fully acknowledges the critical place mandatory procedures occupy in upholding consistent maritime safety
Capt. Jonathan Andrechik transferred command of Coast Guard Sector New York to Capt. Doreen McCarthy Monday, during a change-of-command ceremony at Sector New York in Staten Island. Rear Adm. Michael Platt, Commander, Coast Guard Northeast District, presided over the ceremony.Capt. McCarthy reported to Sector New York and has served as the deputy commander since May of 2024.
American Cruise Lines christened American Maverick in Newport, Rhode Island last week during the ship’s inaugural 9-Day New England Islands cruise, sailing roundtrip from Providence, Rhode Island. The celebration took place on board with guests, crew, community partners, and many employees from the Line’s headquarters in Connecticut.