China's state-owned shipping giant COSCO uses concealed equipment on board its ships to spy on military communications near the coastlines of target nations including the U.S., two senior Trump administration officials said.The officials, who spoke on condition of anonymity to discuss the U.S.
A tanker was struck by an unknown projectile 63 nautical miles west of Saudi Arabia's port city of Yanbu, leading to a fire on the vessel's main deck, the United Kingdom Maritime Trade Operations said on Monday.The UKMTO said all crew were safe and accounted for with no reported environmental impact.
A container ship will depart from South Korea bound for Europe via the Arctic on Saturday, testing whether a route opened by melting sea ice can be commercially viable, but risking friction with Western allies, as the voyage requires Russian cooperation.If successful, the trip would be South Korea's first such commercial voyage to Europe via the Arctic
One Indian crew member was killed and eight others were wounded when two Emirati oil tankers were struck by Iranian cruise missiles in the Strait of Hormuz, the United Arab Emirates Ministry of Defence said on Tuesday, in the latest escalation in the strategic waterway.Abu Dhabi National Oil Company's shipping arm ADNOC L&S later confirmed the very large crude carriers (VLCCs) Mombasa B and Al
CMA CGM delivered a resilient first quarter, but the numbers underscore the increasingly complex environment facing the global container shipping and logistics giant.The Marseille-based group reported first-quarter revenue of $13.23 billion, essentially flat year-over-year, while EBITDA fell 31.6% to $2.11 billion and net income dropped sharply to $250 million, down from $1.
Shipping giants CMA CGM and Hapag-Lloyd said on Sunday they had suspended all bookings to and from Cuba until further notice, with both citing a U.S. executive order issued on May 1, in the latest blow to the crisis-wracked island's economy.The temporary suspension of new orders by two of the world’s largest shipping companies could jeopardize as much as 60% of Cuba's shipping traffic by volume
President Donald Trump's administration said on Monday that it had reached a deal to end two more U.S. offshore wind leases in exchange for $885 million in pledged investments in domestic fossil fuels.The projects, one in the Atlantic and one in the Pacific, are managed by Ocean Winds, a joint venture between France's ENGIE and Portugal's EDP Renewables.
At first glance, the Iran war appears to be hitting oil and gas with equal force, as missiles, drone strikes and shipping disruptions choke flows through the Strait of Hormuz.But beneath that surface symmetry lies a critical imbalance. The global gas supply chain has fewer rerouting options and less storage capacity than the oil market - making the fallout for gas consumers considerably more
The U.S. Navy has refused near-daily requests from the shipping industry for military escorts through the Strait of Hormuz since the start of the war on Iran, saying the risk of attacks is too high for now, according to sources familiar with the matter.The Navy's assessments spell continued disruption to Middle East oil exports and reflect a divergence from President Donald Trump’s statements
In a shipbuilding industry defined by tradition, one new entrant is seeking to rewrite the rules of how naval vessels are designed, built and delivered. Saronic Technologies, founded just three years ago, is racing to create what CEO Dino Mavrookas calls “a next-generation shipbuilding ecosystem” — one capable of delivering unmanned surface vessels (USVs) at the speed and scale the U.S.
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.
Petrodec’s newly constructed heavy lift jack-up vessel, named Obana, has started decommissioning work in the Southern North Sea for Perenco.Obana is working on the decommissioning of the Galahad platform, after which it will move to the Amethyst field for the removal of the C1D, A2D and B1D jackets, expected to be completed and offloaded in the Netherlands later in 2025.