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.
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.
Davie, a leader in icebreaker and specialized vessel construction, announced plans to acquire shipbuilding assets in Galveston and Port Arthur from Gulf Copper & Manufacturing Corporation — marking a major step toward revitalizing large-scale shipbuilding of icebreakers in the United States. The move underscores growing momentum behind domestic production of ice-capable vessels and aligns with U.
How can the global energy grid keep pace with fast-growing demand from new data centers supporting artificial intelligence (AI) and cloud computing? Nuclear energy and coastal waters offer a potential answer.The potential for floating nuclear-powered data centers is explored in depth in the latest research from ABS and Herbert Engineering.
The threat that AI and quantum computing pose to cyber security is already here, even before these technologies are mature enough to crack today’s encryption methods. Bad actors are taking a “harvest now decrypt later” approach to cyberattacks.Classical encryption methods like Rivest–Shamir–Adleman (RSA) and Elliptic Curve Cryptography (ECC) rely on the difficulty of factoring large numbers or
Fast-growing energy demand is driving the need for technical support and guidance in new locations, writes Terrance Roberts, Manager, Global Business Development, ABS.Surging appetite for natural gas is accelerating the development of global and regional supply chains, with established producers seeking new markets and emerging suppliers looking to meet demand from local consumers.
Benny Cenac Jr.’s Houma based Main Iron Works Company has completed the 10th boat newbuild for Ingram Marine Group. This partnership with Main Iron Works and Ingram began in 2021 and included the construction of 10 new towboats to be completed by the end of 2024. The first towboat, the Adrienne M.
The White House is weighing an executive order that would fast-track permitting for deep-sea mining in international waters and let mining companies bypass a United Nations-backed review process, according to two sources with direct knowledge of the deliberations.If signed, the order would mark U.S.