The U.S.-Israeli war on Iran has disrupted oil and natural gas exports from the Middle East and forced production stoppages from Qatar to Iraq, with Kuwait announcing cuts over the weekend.Analysts predict that the United Arab Emirates and Saudi Arabia will also have to cut output soon as they run out of oil storage.
Seatrium has put in motion a series of non-core asset divestments set to complete by early 2026, targeting over $40 million (S$50 million) in annualized operational cost savings.The Singapore-based offshore and marine group said the savings will follow recent divestments of the AmFELS yard in Texas and the GNL Platform Supply Vessels disclosed in 2025, alongside additional transactions earlier.
All-Cash Deal, Expanding Brazil FootprintTidewater Inc. (NYSE: TDW) has signed a definitive agreement to acquire Wilson Sons Ultratug Participações S.A. and its affiliate Atlantic Offshore Services S.A. (collectively, WSUT) in an all-cash transaction valued at approximately $500 million, including the assumption of existing debt.
The Bureau of Ocean Energy Management announced a Proposed Notice of Sale for the third offshore oil and gas lease sale under the One Big Beautiful Bill Act. The proposed lease sale, known as Lease Sale Big Beautiful Gulf 3, or BBG3, is scheduled to take place on Aug. 12, 2026.This sale is the third of 30 Gulf of America oil and gas lease sales required by the One Big Beautiful Bill Act (Public
Equinor said it is complying with a stop-work order issued by the U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM), which ordered the suspension of offshore construction activities on the Empire Wind project citing national security concerns.Empire Offshore Wind LLC, the project company
The U.S. inland waterways don’t just move cargo — they move people into long-term, well-paid careers. At a time when trucking and rail struggle with shortages, turnover, and burnout, inland waterways operators quietly offer something different: a job you can start without experience, a career you can grow into, and a paycheck that gets better every step of the way.
More than 200 guests attended the official naming ceremony of Stena Line’s newest vessel, Stena Futura, at Belfast Harbour. The 147-mhybrid freight ferry Stena Futura is the first of two next-generation “NewMax” freight vessels purpose-built for the busy Belfast–Heysham route. The ship is methanol-ready and equipped with hybrid propulsion systems
HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has secured a contract to build two liquefied natural gas (LNG) carriers for a North American shipowner.The order is valued at 741.2 billion won (about $507 million), HD KSOE said.The vessels will be constructed by HD Hyundai Samho and are scheduled for delivery in 2028.
The Philippines and Canada signed a pact on Sunday for their armed forces to train on each other's soil, boosting defense cooperation to tackle common security concerns in the Indo-Pacific region.Canada's first such deal in the region, the Status of Visiting Forces Agreement (SOVFA) takes to five the number of accords on troops Manila has concluded with allies
The impact of software on the performance of vessels and fleets was described by ABS Chairman and Chief Executive Christopher J. Wiernicki at a launch event in Greece for ABS Wavesight Advantage, a new intelligent platform.“In an industry where every ton and every ton-mile counts, ABS Wavesight Advantage puts the Power of One in your corner.
U.S. President Donald Trump's administration on Tuesday unveiled a comprehensive schedule to hold more than 30 offshore oil and gas lease sales in the Gulf of Mexico and Alaska's Cook Inlet over the next 15 years.The plan fulfills a directive in Trump's One Big Beautiful Bill Act, which passed last month
Green hydrogen developers are cancelling projects and trimming investments around the world, raising the prospect of longer than targeted reliance on fossil fuels.The challenges facing the sector have exposed its initial ambitions as unrealistic.Hard-to-electrify industries that were seen as ideal candidates for green hydrogen, such as steelmaking and long-distance transportation