The Trump administration suspended leases on Monday for five large offshore wind projects that are under construction off the U.S. East Coast over what it called national security concerns, sending shares of offshore wind companies plunging.The suspension was the latest blow for offshore wind developers that have faced repeated disruptions to their multi-billion-dollar projects under U.S.
The Trump administration on Friday ordered Denmark's Orsted to stop far-advanced construction on an offshore wind project near Rhode Island, in a move that threatens to exacerbate the company's financial troubles.With construction now frozen at 80% completion, Orsted has no immediate path to revenue generation, heightening pressure on the company as it seeks to shore up finances through a $9.
The military and Coast Guard budgets are established that will benefit the U.S. ship building and repair sector, but what will stimulate the commercial yards?This author has been scratching his head of late, after a thrilling dive into July’s U.S. Big Beautiful Bill Act, and has asked several colleagues where the funding for support commercial shipbuilding can be found? To answer that
The United States' maritime coastal security poses a significant challenge due to the vastness of its coastline and the complexity of its maritime borders. According to the National Oceanic and Atmospheric Administration National Geodetic Survey there are approximately 95,000 miles of coastline.
The Connecticut Maritime Association (CMA) announced that its most prestigious honor, The Commodore Award, has been renamed The Jim Lawrence Commodore Award, effective immediately. This change commemorates the extraordinary life and lasting legacy of Jim Lawrence, who passed away on June 1, 2025, after a distinguished career spanning more than four decades in the maritime industry.
Danish offshore wind developer Orsted can restart work on the nearly finished Revolution Wind project off the coast of Rhode Island, a federal judge ruled on Monday, after President Donald Trump's administration halted the project last month.The ruling is a legal setback for Trump, who has sought to block expansion of offshore wind in U.S. waters.
Danish wind farm developer Orsted's Revolution Wind joint venture has filed a lawsuit against the administration of President Donald Trump over the U.S. government's decision to block construction of the project off Rhode Island, a court filing showed on Thursday.The U.S. Bureau of Ocean Energy Management (BOEM) gave Revolution Wind a stop-work order last month
The Trump administration's order to halt work on a nearly completed wind farm off the coast of Rhode Island threatens grid reliability and jobs and defies explanation, business and government leaders from New England said on Monday.State leaders in Connecticut and Rhode Island demanded details from the administration about why it issued a stop-work order to the Revolution Wind project late on
Electric Boat, a business unit of General Dynamics, announced that it was awarded a $1.85 billion contract modification to a previously awarded contract supporting submarine production. This modification is for long lead time material and preliminary construction efforts for submarine production, as detailed in the June 26 U.S. Department of Defense contract award announcement.
General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), was awarded a $987 million contract modification to a previously awarded contract supporting submarine production. This modification is for additional Component Development, Class Lead Yard Support (CLYS), and Submarine Industrial Base (SIB) supplier development enhancements, as detailed in the U.S.
“Shipping is a people business”, so the saying goes. Jim Lawrence, who passed away at the beginning of June, truly embodied that. Certainly, he was a great participant at maritime events. When not up on the podium serving as the moderator, he would be walking around, shaking hands, talking about a particular transaction or development (and, sometimes, the intrigue behind it)
Greensea IQ, a pioneer in proactive in-water hull cleaning technology, announced that its EverClean service has been officially approved as a certified hull grooming provider for vessels coated with GIT Coatings’ foul release systems.The approval, granted by Lloyd’s Register, confirms that EverClean meets the requirements to groom hulls protected by GIT Coatings’ sustainable and biocide-free