The offshore rig market recovery appears to have taken a pause, with demand tapering off and marketed utilization hitting the lowest levels recorded since recovery began in 2021. A variety of factors have contributed to this – including Saudi Aramco’s suspension of over 30 jackup contracts by up to one year, the entry of newbuild rigs into the market without work to go to
Louis Dreyfus Armateurs (LDA) and InfraVia, a private equity company in Europe, have entered into exclusive negotiations for InfraVia to acquire a majority stake in LDA, a group specializing in high value-added industrial marine services.LDA currently specializes in three growing segments, transportation and logistics of industrial equipment, mainly through dedicated Ro-Ro vessels
Spilled oil has washed up along "tens of kilometres" of the Russian Black Sea coast after two tankers were badly damaged in a storm at the weekend, a regional official said on Tuesday, and state media said a third vessel was now in trouble.TASS news agency said the third ship, also a tanker, had issued a distress signal off the port of Kavkaz, but its hull was still intact
One person has died and another is missing after a commercial tanker struck a recreation vessel near Port Aransas, Texas.The U.S. Coast Guard said it received a call from a good Samaritan via channel 16 at 5:28 a.m. reporting the collision between. The recreational vessel, reported to be a commercial pleasure boat, became partially submerged, and the four people on board went into the water.
The Louis-Dreyfus family, shareholder of Louis Dreyfus Armateurs (LDA), and InfraVia Capital Partners, a leading independent private equity company in Europe, have completed the strategic transaction in which InfraVia, through its InfraVia European Fund VI, has acquired an 80% majority stake in LDA.
The Mediterranean Sea officially became an Emission Control Area for Sulphur Oxides and Particulate Matter (Med SOx ECA) under MARPOL Annex VI on May 1, 2025. The sulphur content in fuel oil for ships operating in the area is now limited to 0.1%, reducing air pollution and delivering benefits to both human health and the marine environment.
General Dynamics Electric Boat has been awarded a $1 billion undefinitized contract modification allowing Electric Boat to purchase long lead time materials for Virginia Class Block VI submarines as detailed in a U.S. Department of Defense contract announcement.Virginia-class submarines are designed from the keel up for the full range of 21st-century mission requirements
The U.S. Army Corps of Engineers (USACE) has issued a permit for the rebuilding of the Francis Scott Key Bridge, granting Maryland Transportation Authority permission to construct the bridge, following the collapse of the original structure that claimed the lives of six Baltimoreans.
Corvus Energy has secured Type Approval from Lloyd’s Register (LR) for its Dolphin NxtGen marine battery system. The LR Type Approval confirms that the energy storage system (ESS) complies with the most stringent rules, regulations, and safety requirements in the industry, as defined by one of the leading maritime class societies.
Volunteers helping to clean up a major oil spill along Russia's Black Sea coast appealed in a video released on Monday for President Vladimir Putin to urgently send federal aid, saying that they and local authorities were overwhelmed.The pollution, which has coated sandy beaches at and around Anapa, a popular summer resort
Huntington Ingalls Industries on Thursday cut its 2024 shipbuilding revenue due to uncertainty in navy agreements, supply chain issues and labor shortages, sending its shares down roughly 7% premarket.The company forecasts shipbuilding revenue, which is the focus of two of its three divisions, will likely be near the lower end of its previously projected range of $8.8 billion to $9.1 billion.
The TWIN-PORT VI scheme, a four-year project representing a continuation of the long-term cooperation between ports of Tallinn and Helsinki, has received a funding commitment from the EU in the amount of $16. 8 million (€15.4 million).The TWIN-PORT VI project aims to reduce transport system emissions and to improve conditions for passenger and freight transport operations.