South Korea's HD Hyundai Heavy Industries is in talks with multiple companies about buying a U.S. shipyard, a senior company executive said, seeking to tap into President Donald Trump's push to revive America's ailing shipbuilding industry.The world's largest shipbuilder based on orders is targeting 3 trillion won ($2.2 billion) in annual revenue by 2035 from building warships for the U.S.
At the 163rd ABS Annual Members Meeting, the classification society says it has never been stronger, with substantial growth and leading safety performance reported. Key numbers in 2004 included the fleet growing to 300 million gross tons, giving it pole position in global class in global new order share with 22 percent.
Marlink, a leader in managed services for business-critical IT solutions, has created Marlink Cyber, a dedicated cyber security company to address growth of cyber threats and the increasing need for compliance.Marlink Cyber combines expertise within Marlink with the skills, resources and geographic presence gained with the acquisition of Diverto and Port-IT.
The majority of the jet fuel aboard the U.S.-flagged tanker Stena Immaculate remains secure despite a collision with a container ship off the British coast, the tanker's owner, Stena Bulk, reported on Wednesday. Only two of the vessel’s 18 fuel tanks have leaked.The incident occurred on Monday when the Portuguese-flagged container ship Solong struck the Stena Immaculate
The first thirty days of the new Trump Administration have brought sweeping changes throughout the federal government. We take a pause to assess where things stand for maritime stakeholders and what may be coming next in Washington, DC, for our industry.A Maritime DirectiveFor those that work in the U.
[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.
Sourcing and maintaining marine coatings systems are arguably a shipowner’s most critical means to ensure a long and productive lifecycle for ships, boats and offshore rigs. At the same time, coatings have become a central part of the ship efficiency, decarbonization discussion. Christer Øpstad, Global R&D Director Fouling Protection, Jotun
The future of the two insolvent German shipyards, Flensburger Schiffbau-Gesellschaft (FSG) and Nobiskrug, looks brighter as Lürssen Group moves to place a formal bid to take over the facilities of the Nobiskrug shipyard, while Heinrich Rönner Group agrees to buy the FSG.The insolvency administrators, Christoph Morgen of Brinkmann & Partner and Hendrik Gittermann of REIMER
A Scottish court has invalidated Britain's approvals for two major North Sea oil and gas projects, delivering a significant victory to environmental groups and raising uncertainty over future fossil fuel developments in the UK.The Court of Session in Edinburgh found that the government had unlawfully granted approval for Shell's Jackdaw gas field and Equinor's Rosebank oil and gas field by
Unlocking new levels of multibeam performance with Norwegian Subsea MRUMotion Reference Units (MRUs) are crucial in bathymetric survey technology, providing precise motion compensation data to ensure reliable and accurate seafloor mapping. For users like Captain Sid Hynes, a seasoned mariner exploring Newfoundland’s shipwreck-rich waters, the Norwegian Subsea MRU has redefined what is possible
The trade of Russian oil for March-loading in Asia has slowed significantly as a growing gap between buyer and seller expectations in China has emerged. This disconnect comes amid rising costs for chartering non-sanctioned tankers following new U.S. sanctions, according to traders and shipping data.
Advisers to U.S.President-elect Donald Trump are urging him to take a patient approach to restarting approvals for liquefied natural gas export licenses, fearing rapid approvals will only get overturned in court, according to two sources familiar with the discussions.The recommendations offer a preview of the challenges Trump will face as his bold campaign promises to slash regulation and