After developing the technique some five years ago, Aker Arctic has now completed the research required to get its new design methodology for icebreaker hulls accepted into the Finish-Swedish Ice Class Rules. The method has also been adopted to Polar Class rules of several Class Societies (LR, ABS, DNV).
Offshore wind developer Orsted won shareholder approval on Friday for a $9.4 billion emergency rights issue to help fund U.S. projects thrown into uncertainty by President Donald Trump's opposition to the renewable energy source.The stakes are high for the Danish state-controlled firm
Shares in Orsted plunged to a record low on Monday as the wind farm developer asked shareholders for $9.4 billion to help fund a U.S. project, after potential partners were put off by U.S. President Donald Trump's hostility to wind power.The 60 billion crowns ($9.4 billion) rights issue is worth around half of the Danish company's market value as of Friday's close.
Former Iranian Economy Minister Ehsan Khandouzi has said that tankers and LNG cargoes should only transit the Strait of Hormuz with Iranian permission and this policy should be carried out from "tomorrow [Wednesday] for a hundred days."It was not immediately clear whether Khandouzi was echoing a plan under theIranian establishment's consideration or sharing his personal opinion.
By May this year, 158 cases of vessel abandonment had been recorded, up from 119 at the same point in 2024.These cases represent more than 1,501 seafarers who have reached out to the ITF for assistance, many of whom were left unpaid, without food, water or access to ports, often for months at a time.“Abandonment is a growing, systemic problem,” said Stephen Cotton, ITF General Secretary.
Fincantieri and TUI Cruises, a joint venture between TUI AG and Royal Caribbean Cruises, have launched Mein Shiff Flow, a dual-fuel cruise ship newbuild.A sister ship to Mein Schiff Relax, delivered in February 2025, the new unit is scheduled to enter service in mid-2026.With approximately 160,000 gross tons
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.
The global economy is bracing for renewed turbulence following U.S. President Donald Trump’s announcement on Wednesday of sweeping new tariffs, triggering fears of a global trade war and sparking immediate market and political reactions.According to the White House, the new measures include a 10% minimum tariff on most imported goods, with certain products - particularly those from major U.S.
We are at the one-year since the Francis Scott Key (FSK) Bridge collapsed over the Patapsco River’s Fort McHenry Channel in Baltimore, Maryland. Nearly 100 percent of the wreckage and debris removal was conducted by the Jones Act private sector U.S. maritime industry. The FSK collapsed at about 1:28 a.m.
[The following are exerpts and paraphrasing from testimony given by Matthew O. Paxton, President of the Shipbuilders Council of America (SCA), to Congress on the morning of February 26, 2025.]While maritime strength and shipbuilding historically have been a cornerstone of global power, shifting times and geopolitical pressures impact readiness and output.
Cyber, business interruption and natural catastrophes are the risks of most concern for businesses globally according to the Allianz Risk Barometer 2025 - as voted for by a record 3,778 risk management experts from 106 countries and territories.Cyber incidents (38% of responses, a record 7% points ahead) consolidates its position as the most important risk.
This week at MarineLink…The IMO 2020 Sulfur Cap essentially ushered in a new type of fuel - VLSFO. With it came the engine problems caused by off-spec or incompatible fuels as producers grappled with the requirement for providing a sulfur content not exceeding 0.05%. As pointed out in Lloyd’s Register’s 2024 Fuel Quality Report, persistent issues involving cat fines, stability