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.
Israeli forces stopped 14 boats carrying foreign activists and aid bound for Gaza, flotilla organisers said on Thursday, but 23 boats are continuing to sail towards the war-ravaged Palestinian enclave, according to the flotilla's tracking system.A video from the Israeli foreign ministry verified by Reuters showed the most prominent of the flotilla's passengers
Maybe it is a human trait, or maybe a Washington, D.C. trait, but when confronted with a difficult problem with unpalatable solutions, there is usually an impulse to delay the moment of difficult decision by ordering a study. The U.S. merchant marine industry is the poster child for this behavior.
Family members of two men killed in a U.S. missile strike against a suspected drug boat near Venezuela filed a wrongful death lawsuit on Tuesday, alleging the pair were murdered in a "manifestly unlawful" military campaign targeting civilian vessels.Civil rights lawyers filed the lawsuit in Boston's federal court, marking the first court challenge to one of the 36 U.S.
On August 5, a naming ceremony took place at the Sakaide Works of Kawasaki Heavy Industries Ltd. for a newly built very large gas carrier (VLGC). This vessel marks the sixth dual-fuel LPG (liquefied petroleum gas) carrier ordered by NYK, following the delivery of Liberty Pathfinder in October of the previous year.
IntroductionThe increase in geopolitical tensions in the Middle East recently resulted in Iran threatening to close the strategically vital Strait of Hormuz (the “Strait”) to international shipping. Inevitably, this led to considerable concern over the impact that the closure of the Strait (or attacks on vessels passing through the Strait) would have on the flow of goods and energy products
Equinor, the developer of Empire Wind, has launched the Service Operations Vessel ECO Liberty on June 28 for deployment in its New York offshore wind project. Louisiana First Lady Sharon Landry served as the vessel’s “Godmother” during a christening ceremony on the Mississippi River at the Port of New Orleans.
In the last decade, changing U.S. Administrations have become increasingly tumultuous, as the swings in priorities and directives have a real, material impact on business. Read on for insights on the current and future of U.S. Offshore Wind.In the weeks preceding his late January inauguration
The Round Table of International Shipping Associations - which consists of BIMCO, the International Chamber of Shipping (ICS), INTERTANKO, and INTERCARGO - has called for the increase in the awareness of seafarer safety, rights, and treatment outside of the shipping industry.The chairpersons of the world’s biggest shipping industry organizations gathered on February 6 in Athens to discuss topics
Operators of hulking car carriers are seeking relief from the U.S. Trade Representative's surprise plan to levy port fees on all foreign-built ships in that segment, including 20 vessels that guarantee transport for the U.S. military during a war or national emergency, three sources told Reuters.
U.S. President Donald Trump's trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against their U.S. rivals, analysts and market participants told Reuters.Trump on Saturday ordered 25% tariffs on Canadian and Mexican imports and 10% on goods from China starting on Tuesday to address a national emergency over fentanyl and illegal
Royal Caribbean said on Tuesday that 2025 was shaping up "to be another great year", with a near 23% jump expected in adjusted earnings, as it benefits from record prices and new river cruise itineraries.Its shares jumped 12% in early trading after the company also forecast full-year adjusted earnings of $14.35 to $14.65 per share, largely above analysts' estimates of $14.