Great Lakes Dredge & Dock Corporation and Saltchuk Resources, Inc. announced a definitive agreement for Saltchuk to acquire Great Lakes at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies
Venezuela's state-run oil company PDVSA has begun cutting crude production because it is running out of storage capacity due to an ongoing U.S. oil blockade that has reduced exports to zero, piling more pressure on an interim government trying to hang onto power in the face of U.S. threats of more military action.
The FPSO P-78 can produce up to 180,000 barrels per day and will increase the gas supply.Petrobras began oil production from the P-78 floating production, storage and offloading (FPSO) vessel in the Búzios field, in the pre-salt layer of the Santos Basin, this Wednesday, December 31, 2025. Búzios 6 (P-78) has the capacity to produce 180,000 barrels of oil and 7.2 million m³ of gas per day.
Confusion over new fuels will not be helped by the fact that each one has a good and bad version. The science on grey ammonia, grey methanol, and palm oil biofuel show that these are probably worse for the planet, if adopted, than unfettered continuation of fossil fuel consumption.
Norwegian shipowners agree: the obsession with new fuels is eliding a valuable discussion of the potential of fuel efficiency. The Aurora-class has enabled Höegh Autoliners to reduce emissions by around 58% per car carried, “before we even use low carbon fuels,” CEO Andreas Enger said.
U.S. energy groups are asking President Donald Trump's administration to exempt liquefied natural gas tankers from a new rule that will require producers to move an increasing percentage of their exports on U.S.-built vessels as part of a broader push to revive domestic shipbuilding.The U.S. is the world's No.
On April 30, Senator Mark Kelly (D-AZ), together with several original co-sponsors, reintroduced the SHIPS for America Act in the U.S. Senate, first introduced in December 2024, divided into two bills. Companion legislation was also introduced in the U.S. House of Representatives by Rep. Trent Kelly (R-MS) and Rep. John Garamendi (D-CA). This is a major, historic effort to revitalize the U.S.
Germany’s Ernst Russ has acquired two multi-purpose vessels, MV Ronnie and MV Charlie, as part of its long-term fleet strategy to expand exposure to the project cargo segment and strengthen predictable earnings.The Hamburg-based shipowner said both vessels have been fixed on seven-year charters to dship Carriers, a globally operating European company specialized in project cargo
A survey on Thursday showed that oil firms in Norway are planning to drill 18% less exploration wells next, as they focus on existing fields. This could undermine the government's aim of maintaining production from Europe's biggest petroleum producer.Offshore Norway's survey of its members shows that drilling and investment will decline next year.
In Memoriam: Captain Charles Robert MacVean, USN, (Ret.), PhDMarch 22, 1937 – September 10, 2025The book, Blind Man’s Bluff, describes the secret USN submarine operations known as “The Projects.” It begins with the opening line, “There was something about Commander Charles R. MacVean that had a way of inspiring legend.
Portland Port in Dorset, UK celebrated the twin christening of two new vessels. Dignitaries and guests watched the christening of the Wyke Castle tug and the Silverwell pilot boat on the Dorset port’s Dock Jetty before an demonstration of the vessels’ capabilities.The multi-million-pound investment in the new boats for Portland Harbor Authority comes as the port continues to grow.
Texas-based subsea oil and gas equipment supplier Trendsetter Engineering has marked the first deployment of its Trident 20,000 psi (20K) intervention system at Beacon Offshore’s Shenandoah project in the Gulf of America.The Trident 20K intervention system was deployed from Transocean’s Deepwater Atlas drillship for a two-well flowback operation at the deepwater Shenandoah project.