MODEC has completed the forward hull section of floating production, storage and offloading (FPSO) vessel Gato do Mato, marking a key construction milestone for the Brazil-bound offshore production unit.The forward hull section, built at Sumitomo Heavy Industries Marine & Engineering's Yokosuka shipyard in Japan, has departed for China
Dubai-based GMS has won U.S. government approval to scrap four container ships that were under Iran-related sanctions, potentially paving the way for Washington to reduce the shadow fleet of such vessels, the leading ship recycler's CEO said.Hundreds of ships with no known insurance or compliance with environmental safety standards have not only helped Iran and Russia circumvent sanctions
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.
In December of 2025, the U.S. Coast Guard announced the award of two contracts to build up to six Arctic Security Cutter (ASC) icebreakers. The announcement declaring the vessels would be built between the United States and Finland in a major step forward for America’s national security in the Arctic region. The decision process encompassed more than the security of the Arctic passage.
In a move that further reshapes the global liner landscape, Hapag-Lloyd has agreed to acquire ZIM Integrated Shipping Services Ltd. in an all-cash transaction valued at approximately $4.2 billion, the companies announced today.Under the terms of the merger agreement, Hapag-Lloyd will acquire ZIM for $35.
Often debated and long-awaited, The White House released its long-anticipated America’s Maritime Action Plan (MAP), a 40+ page blueprint aimed at what it calls a new “Maritime Golden Age” for the United States.The document, developed under Executive Order 14269, lays out a four-pillar strategy to rebuild domestic shipbuilding capacity, expand the U.S.
CF Industries, Trafigura and TFG Marine have signed a memorandum of understanding (MoU) to facilitate the adoption of low-carbon ammonia as a marine fuel.Building on the successful collaboration between CF Industries and Trafigura in the shipment of low-carbon ammonia, the agreement establishes a framework for the parties to work together on advancing low-carbon ammonia as a marine fuel
Mavrik Marine, Inc. was selected to build high-speed passenger ferries for the Golden Gate Bridge Highway & Transportation District. Mavrik will construct catamaran passenger ferries as part of the District’s eight vessel Lima Class Ferry Replacement Program to provide transportation services in San Francisco Bay.
The National Transportation Safety Board said on Tuesday that a loose wire led to a power failure on the cargo ship Dali that crashed into Baltimore's Francis Scott Key Bridge in March 2024, killing six people and wrecking the bridge.The NTSB is holding a hearing in Washington to determine the probable cause of the incident that killed six construction workers on the bridge.
Singapore-based engineering group Seatrium has reported strong execution in the third quarter ended September 30, 2025, bolstered by major offshore and wind project deliveries, a high-value order book and strategic asset sales.The group’s net order book stood at about $12.8 billion (S$16.6 billion), covering 24 projects slated for delivery through 2031.
As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers.
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).