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 LPG-laden tanker MV Falcon was on fire and adrift on Saturday off the coast of Yemen, after it reported an explosion that forced members of its crew to abandon the vessel, the European Union's naval force Aspides said in a statement.The cause of the explosion was unclear but most likely an accident, according to initial indications, Aspides said.
The International Maritime Organization will meet this week to formally decide whether to impose a carbon emissions price on global shipping, a move supported by an EU-led bloc including Britain, China and Japan but strongly opposed by the U.S.The IMO struck a preliminary deal to charge the global shipping industry for emissions in April after the U.S.
Offshore wind developer Orsted won shareholder approval on Friday for a $9.4 billion emergency rights issue to help fund U.S. projects thrown into uncertainty by President Donald Trump's opposition to the renewable energy source.The stakes are high for the Danish state-controlled firm
Rescuers pulled six crew members alive from the Red Sea after Houthi militants attacked and sank a second ship this week, while the fate of another 15 was unknown after the Iran-aligned group said they held some of the seafarers.The Houthis claimed responsibility for the assault that maritime officials say killed four of the 25 people aboard the Eternity C before the rest abandoned the cargo ship.
U.S.-based offshore and marine services company Otto Candies has acquired four multi-purpose support vessels (MPSVs) from Harvey Gulf International Marine.The vessels acquired by Otto Candies are the Harvey Blue-Sea, Harvey Sub-Sea, Harvey Deep-Sea, and Harvey Intervention. The value of the transaction was not disclosed.
HikoTerra, a leader in mobile integrated power solutions, officially ushered in the next generation of marine power with the introduction of the H4 Hybrid Power System. The H4 product line is designed as a battery-first system flexible enough to deliver a home-like user experience.
Elliott Bay Design Group (EBDG) Designs New York’s First Hybrid-Electric FerryWatch the full interview with David Turner, Projects Manager, Elliott Bay Design Group, on the technical highlights of the HARBOR CHARGER on Maritime Reporter TV:On August 12, 2025, The Trust for Governors Island unveiled the HARBOR CHARGER, New York State’s first hybrid-electric passenger vehicle ferry.
Tokyo Kisen Co., Ltd. and Marindows Inc. launched Japan’s first pure battery-powered EV harbor tugboat development project.This EV harbor tugboat will be operated in the ports of Yokohama and Kawasaki.In January 2023, Tokyo Kisen put into service “TAIGA” which was the Japan’s first series-hybrid electric-powered tugboat equipped with a large-capacity 2,486 kWh battery.
The Trust for Governors Island unveiled its new hybrid-electric ferry, the Harbor Charger, the first of its kind in New York State and aa addition to the Trust’s existing ferry fleet. The arrival of the new boat coincides with the 20-year anniversary of Governors Island opening to the public
General Dynamics Bath Iron Works, a business unit of General Dynamics (NYSE:GD), said that the U.S. Navy has exercised an option to add an additional DDG 51 destroyer to the multi-year contract awarded in 2023.Bath Iron Works currently has under construction the Flight IIA Arleigh Burke-class destroyers Harvey C. Barnum Jr.
Ships are designed to operate for decades—often up to 50 years or more. While routine repairs and sometimes major retrofits are expected throughout that lifespan, these vessels must be engineered from the start with longevity in mind. As the maritime industry pushes for greener, low-emission technologies