The bp Board has appointed Meg O’Neill as bp’s next CEO effective April 1, 2026.Murray Auchincloss is stepping down from his position as CEO and director of the Board, effective December 18. Carol Howle, current executive vice president, supply, trading & shipping of bp, will serve as interim CEO.
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.
China’s share of the tanker orderbook rose from 32.4% in 2022, to 62.6% in 2023 and then 71.2% in 2024. Its share of the container ship orderbook has shown a similar growth trajectory. The nation has ranked first in the world for new orders since 2012. Labor costs are about half of what they are in Korea and Japan, and China is the world’s cheapest steel manufacturer.
The hull of the first heavy polar icebreaker for the Coast Guard is taking shape after years of delays on the Gulf Coast. The stern sections of the future USCGC Polar Sentinel (WMSP-21) are now standing almost four stories high in the middle of the Bollinger Mississippi shipyard. As of early August, the stern section of the future Polar Security Cutter was positioned to be welded in place.
Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume.The news capped weeks of market volatility and geopolitical upheaval after U.S.
BP has agreed to sell a 65% stake in its Castrol lubricants business to infrastructure investor Stonepeak at an enterprise value of about $10 billion, as the energy major presses ahead with its divestment program and balance sheet repair.The transaction is expected to generate net proceeds of around $6 billion for BP, including accelerated dividend payments
Miros and Marine Technologies (MT) have signed a memorandum of understanding (MoU) to collaborate on integrating advanced marine sensing technologies with MT’s vessel control and smart-ship systems, the companies said on Wednesday.The agreement, which involves no financial commitments, outlines the companies’ intent to combine Miros’ real-time ocean sensing, wave and current monitoring
Arguably there are no two names more closely related to Pilot Boat design and construction in the United States than Gladding-Hearn Shipbuilding and Ray Hunt Designs. Together the dynamic duo has designed and built more than 80 vessels – not to mention a vibrant refurbish and repair operation – design and building for pilot organizations around the country.
U.S. shipbuilders and port operators are getting hit in the fallout from President Donald Trump’s campaign to wipe out the offshore wind industry, suffering hundreds of millions of dollars in lost government support, vanishing vessel orders, and an uncertain future for the billions of dollars' worth of investments.
For Peter Duclos, shipbuilding has always been personal.As President and Director of Business Development at Gladding-Hearn Shipbuilding, Duclos Corporation, Duclos represents the third generation of his family to lead the Somerset, Massachusetts, shipyard. “I’ve been involved with our family’s 70-year-old company my whole life,” he said.
HD Hyundai Robotics USA has secured an order for its robotic welding solution, ArcLift GO, from Chouest Group Shipyards. Under this contract, robotic welding systems will be supplied to three Chouest Group shipyards in North America, including Louisiana, and one shipyard in Brazil.Recently, the shortage of skilled welders in the U.S.
The Chouest Group announced it has completed the acquisition of the Alliance business from Helix Energy Solutions Group. Alliance will be integrated into Champagne Energy Solutions (CES), expanding the Group’s offshore decommissioning and plug & abandonment (P&A) platform.The transaction builds on the recent formation of CES and advances the Chouest Group’s strategy to deliver fully integrated