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.
The commissioning of China's latest aircraft carrier this week marks a new chapter in its military modernisation effort but security analysts and regional diplomats say tough challenges lie ahead before it can be made fully operational.President Xi Jinping attended the commissioning and flag-presenting ceremony of the Fujian in Hainan province on Wednesday
St. Catharines, Ontario–based Algoma Central Corporation (TSX: ALC) reported a solid third quarter for 2025, marked by fleet milestones, steady revenue growth across segments, and ongoing investment in next-generation vessels.For the quarter ended September 30, Algoma posted revenue of C$228 million, up from C$205 million a year earlier, and EBITDA of C$89.7 million, a 19% increase year-over-year.
Vessels owned or operated by U.S. firms and individuals - or those built in the United States or that fly the U.S. flag - will be charged additional port fees per voyage starting on October 14, China's transport ministry said.The fees are a counter-measure against upcoming U.S. port fees on Chinese ships, the ministry said on Friday.
The U.S. is one week away from imposing port fees on certain vessels with links to China, a move expected to cost the top 10 carriers $3.2 billion next year as President Donald Trump seeks to address China's growing dominance on the high seas."While some observers believe the October 14 deadline may be extended - or even scrapped - as part of broader negotiations
Green hydrogen developers are cancelling projects and trimming investments around the world, raising the prospect of longer than targeted reliance on fossil fuels.The challenges facing the sector have exposed its initial ambitions as unrealistic.Hard-to-electrify industries that were seen as ideal candidates for green hydrogen, such as steelmaking and long-distance transportation
U.S. President Donald Trump wants a pay raise for troops, more high-tech missiles and drones in next year's defense budget, while cutting Navy jobs, and buying fewer ships and fighter jets to save money, according to budget materials posted Wednesday.At $892.6 billion, the defense and national security budget request is flat compared with this year.
In the early hours of Friday, June 20, Great Lakes Towing tugs conducted an efficient refloating operation of the foreign-flagged freighter SUNNANVIK, which had become lodged in the narrow mouth of the Cuyahoga River near the East Bank of the Flats.At approximately 12:43 a.m., the 9,000-ton SUNNANVIK became wedged in the canal, temporarily disrupting traffic.
Global insurer Allianz Commercial recently issued its 2025 Safety & Shipping Review, examining maritime risk trends and losses. The report revealed that the shipping industry has made significant improvements when it comes to maritime safety in recent years. During the 1990s the global fleet was losing 200+ vessels a year.
Confusion over new fuels will not be helped by the fact that each one has a good and bad version. The science on grey ammonia, grey methanol, and palm oil biofuel show that these are probably worse for the planet, if adopted, than unfettered continuation of fossil fuel consumption.
Asian spot liquefied natural gas prices started the year steady, as muted regional demand and ample supply kept the market flat following a 34% slump in 2025.The average LNG price for February delivery into Northeast Asia LNG-AS was estimated at $9.60 per million British thermal units (mmBtu), unchanged from the previous week, industry sources said.
Seakeeper, Inc., a leader in marine motion control, is offering Seakeeper and Seakeeper Ride sizing and software specific to attending to the hull styles of catamarans. While catamarans offer some advantages, these boats are still susceptible to wave action and their unique hull designs can present several trade-offs such as flatter turns, increased yaw or bow steering