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.
Dozens of rescuers were scrambling in Vietnam on Sunday to trace four missing people after retrieving the bodies of dozens killed when a thunderstorm capsized a boat in the top tourist destination of Halong Bay, authorities said.Despite a calm sea, rescuers, from police and border guards to divers and navy personnel
Australia conditionally approved on Wednesday a request by Woodside Energy to extend until 2070 the life of its North West Shelf gas plant, following a six-year review dogged by delays, appeals and backlash from green groups.The facility on the Burrup peninsula in Western Australia is the country's oldest and largest liquefied natural gas plant and a key supplier to Asian markets
The United States will "take back" the Panama Canal from Chinese influence, U.S. Defense Secretary Pete Hegseth said on Tuesday during a visit to the Central American nation.After talks with Panama's government, Hegseth vowed to deepen security cooperation with Panamanian security forces and said China would not be allowed to "weaponize" the canal by using Chinese firms' commercial relationships
Oil prices rose 3% on Wednesday as the U.S.-Israeli war on Iran disrupted Middle East supplies, but the pace of gains slowed from past sessions after President Donald Trump suggested the U.S. Navy could escort vessels through the Strait of Hormuz.Brent LCOc1 rose $2.67, or 3.3%, to $84.07 a barrel by 0659 GMT, after closing on Tuesday at its highest since January 2025.U.S.
China is the world's largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran.But the opposite is most likely the case, with China's vast stockpile of crude a cushion against price spikes, meaning that any energy-led inflation in the rest of the world will not hit China.
China's defence ministry accused Philippine Coast Guard vessels on Friday of "dangerous manoeuvres" in response to reports of a collision earlier this week between two Chinese vessels near Scarborough Shoal in the disputed South China Sea.The Philippine vessels' actions "seriously endangered the safety of Chinese vessels and personnel," ministry spokesperson Jiang Bin.
The Coast Guard (including its heritage services) have employed boats since the beginning. Boats are just as important, if not more so, than ever.America’s first “boat force” came about in 1878, with the creation of the United States Life Saving Service (USLSS), whose boat crews rescued mariners in distress along the nation’s coast line.
The New Zealand Navy will return to service in the third quarter of 2026 one of two offshore patrol vessels idle since 2021, the chief of the defence force said on Tuesday, at a cost running into millions of dollars.Tony Davies told a select committee of parliament the decision to bring HMNZS Otago out of care and custody arrangements followed the sinking of a specialist dive and hydrographic
China's coast guard held a National Day flag-raising ceremony on a ship in the waters off the disputed Scarborough Shoal, vowing to "stand guard" over the atoll, a major flashpoint for diplomatic flare-ups and maritime clashes with the Philippines.Both countries claim the triangular feature in the busy waterway of the South China Sea, but it is effectively under Beijing's control.
An LNG tanker targeted by U.S. sanctions berthed at Russia's Arctic LNG 2 on Thursday, shiptracking data from LSEG and Kpler showed, the fifth such tanker to stop at the project this year.Loadings resumed late in June at the Arctic LNG 2 project, which has been sanctioned over Moscow's war in Ukraine
Taiwan's defence spending next year will exceed 3% of gross domestic product to demonstrate to the world the government's determination to fulfil its shared responsibility for security, Premier Cho Jung-tai said on Thursday.The move comes as China, which views democratically governed Taiwan as its own territory