After developing the technique some five years ago, Aker Arctic has now completed the research required to get its new design methodology for icebreaker hulls accepted into the Finish-Swedish Ice Class Rules. The method has also been adopted to Polar Class rules of several Class Societies (LR, ABS, DNV).
The Trump administration on Friday ordered Denmark's Orsted to stop far-advanced construction on an offshore wind project near Rhode Island, in a move that threatens to exacerbate the company's financial troubles.With construction now frozen at 80% completion, Orsted has no immediate path to revenue generation, heightening pressure on the company as it seeks to shore up finances through a $9.
Jan De Nul has kicked off the installation campaign of the monopile foundations for RWE’s Thor offshore wind farm, completing the installation of the first of 72 monopiles with its heavy-lift vessel Les Alizés.When finished, Denmark’s largest wind farm to date will provide enough renewable energy to power more than a million Danish households.
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 global economy is bracing for renewed turbulence following U.S. President Donald Trump’s announcement on Wednesday of sweeping new tariffs, triggering fears of a global trade war and sparking immediate market and political reactions.According to the White House, the new measures include a 10% minimum tariff on most imported goods, with certain products - particularly those from major U.S.
Hong Kong's CK Hutchison will not sign a deal next week to sell its two port operations near the Panama Canal to a BlackRock-led group, two people with direct knowledge of the matter said, amid growing pressure from Beijing.China's market regulator said it will carry out an antitrust review on the Panama port deal in accordance with law to protect fair competition and safeguard public interests
A Trump administration proposal aimed at reviving the U.S. shipbuilding industry may backfire by imposing steep fees on China-linked vessels—penalties that industry leaders say would hurt American ship operators and ports rather than help them, industry executives said at U.S. Trade Representative hearings on Monday.
Cyber, business interruption and natural catastrophes are the risks of most concern for businesses globally according to the Allianz Risk Barometer 2025 - as voted for by a record 3,778 risk management experts from 106 countries and territories.Cyber incidents (38% of responses, a record 7% points ahead) consolidates its position as the most important risk.
Private equity firm Carlyle has dropped out of a bidding process for the warship division of stricken conglomerate Thyssenkrupp, the German company said on Tuesday.Carlyle's withdrawal as a suitor for Thyssenkrupp Marine Systems (TKMS) is a major blow to Thyssenkrupp's restructuring, which also includes plans for a 50:50 steel joint venture with Czech billionaire Daniel Kretinsky.
Faced with an aging fleet, the Woods Hole, Martha’s Vineyard and Nantucket Steamship Authority has turned to converted offshore support vessels (OSV) to breathe new life into its ferry operations.The operator announced its purchase of the OSVs HOS Shooting Star and HOS Lode Star from Hornbeck Offshore Services in 2022, to replace its open-deck freight vessels Gay Head and Katama
Three shipyards have expressed interest in building a long-awaited series of new hybrid-electric car and passenger vessels for Washington State Ferries (WSF).Nichols Brothers Boat Builders in Freeland, Wash.; Eastern Shipbuilding Group in Panama City, Fla. and Philly Shipyard in Philadelphia have sent pre-qualification packages after WSF earlier this year invited shipbuilders to bid
At least two people died and four were declared missing following the sinking of an oil barge operated by a contractor of Venezuelan state-run energy company PDVSA at Lake Maracaibo, PDVSA said on Thursday.Sources and an internal report from the company had indicated four fatalities from the accident earlier on Thursday. But PDVSA said rescue work to find the four missing people has not finished.