European defense giant Rheinmetall has signalled interest in taking over German shipbuilder Naval Vessels Luerssen, industry sources told Reuters on Wednesday, as the Duesseldorf-based firm looks to expand into the naval business.According to the Bild newspaper, which first reported Rheinmetall's plans, the supervisory board intends to consider the purchase in the coming weeks.
Oil prices were steady in choppy trade on Tuesday as investors weighed dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the Middle East around Yemen.Brent crude futures for February delivery, which expire on Tuesday, were up 3 cents, or 0.05%, at $61.97 a barrel at 1:18 p.m. EDT. The more active March contract was down 12 cents or 0.2% at $61.37.U.S.
Oil prices fell by more than $1 a barrel on Friday as investors weighed a looming global supply glut, while also keeping an eye on a potential Ukraine peace deal ahead of talks this weekend between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump.Brent crude futures fell $1.13 or 1.82% to $61.11 per barrel by 1:14 p.m. EDT. U.S. West Texas Intermediate (WTI) crude fell $1.
Four major defense companies have proposed the establishment of an AUKUS Combat Systems Collaborative Team in contemplation of a potential role for Australia’s SSN-AUKUS conventionally armed nuclear-powered submarines, under a Memorandum of Understanding (MoU) signed Wednesday, November 5.
On October 7, Damen Shipyards Group delivered its latest Combi Freighter (CF) 3850 to family owned German shipping company Reederei Gerdes. The delivery of the vessel, named Holger G, took place during a ceremony at the Bason Shipyard in Vietnam. The vessel is named Holger G. Damen’s CF 3850 represents the latest generation in the shipbuilder’s cargo vessel portfolio.
Sofar Ocean has launched Wayfinder Voyage Simulator, a voyage planning tool that lets operators, commercial teams and chartering desks generate and compare unlimited voyage scenarios in seconds, aiming to improve fleet efficiency and profitability.Part of Sofar’s Wayfinder platform, the simulator incorporates the company’s marine weather forecasts
The Korea Institute of Machinery and Materials (KIMM) hosted the 12th Global Forum on Mechanical Engineering today at the National Assembly Library, spotlighting the fast-growing role of humanoid artificial intelligence and robotics in industry and society.Organized under the theme “The Future of Humanoid AI and Robotics
Watson Farley & Williams (WFW) advised a consortium of lenders on an ECA-backed JOLCO financing for Ocean Network Express Pte. Ltd. (ONE) to finance four newbuild container vessels. The consortium comprised BNP PARIBAS (acting through its Tokyo Branch and as ECA Coordinator), The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch and Citibank, N.A.
The Rotra Futura Roll-on/Roll-off (RoRo) vessel has entered operations, with the transportation of wind turbine blades from Denmark to the United States.The project supply vessel, specifically designed to handle larger and heavier offshore wind turbine components, collected the 108-meter-long blades at the Port of Aalborg, Denmark, under the supervision of deugro Denmark’s wind experts.
Inmarsat Maritime, a Viasat company, has signed an agreement with Sallaum Lines, a Roll-on/Roll-off (RoRo) cargo shipping company, to upgrade to Inmarsat Maritime’s NexusWave fully managed bonded connectivity service.As Sallaum Lines expands its global presence, NexusWave will provide secure, ultra-fast connectivity with unlimited data
HII was awarded a contract to deliver the new Australian Submarine Supplier Qualification (AUSSQ) pilot program over the next two years to accelerate the identification and qualification of Australian suppliers and products into the US submarine industrial base.The contract’s initial value is $6m with the option to extend based on achievement.
Contract talks covering 45,000 dockworkers on the U.S. East and Gulf Coasts are set to restart on Tuesday in a labor dispute that will help set the pace of automation at ports stretching from Maine to Texas.The International Longshoremen's Association wants to eliminate past labor contract concessions on automation - notably the use of semi-automated cranes that stack containers on docks -