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.
South Korean defense, shipbuilding and energy solutions provider Hanwha Group has appointed Alex Wong as Global Chief Strategy Officer (CSO) to lead the company's strategic initiatives in international markets.In this newly created role based in Washington, D.C., Wong will spearhead Hanwha's efforts to deepen partnerships, build defense capabilities
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.
Deep-sea mining firm The Metals Co asked the Trump administration on Tuesday to approve its plans to mine the international seabed, making it the first such company to seek the government's permission to operate outside U.S. territorial waters.Last week President Donald Trump signed an order aiming to jumpstart mining in both domestic and international waters in an attempt to boost U.S.
Odfjell’s chemical tanker Bow Olympus is currently crossing the Atlantic powered by a combination of wind-assisted propulsion and a certified sustainable 100% biofuel, marking the company’s first near carbon-neutral transatlantic voyage.Real-time data from the voyage confirms that the dual propulsion approach is both technically feasible and impactful
President Donald Trump signed an executive order aimed at boosting the deep-sea mining industry, marking his latest attempt to boost U.S. access to nickel, copper and other critical minerals used widely across the economy.The order, which Trump signed in private, seeks to jumpstart the mining of both U.S.
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.
Kraken Robotics Inc. announced the passing of founder and former CEO, Karl Kenny on February 11, 2025, at the age of 64. Karl founded Kraken in 2012 and was instrumental in building the company into a leading player in subsea robotics over his 10-year tenure, before retiring in December 2022.
The Scythian philosopher Anacharsis (6th century B.C.) said: “There are three sorts of people: those who are alive, those who are dead and those who are at sea.”Many of those onboard the Nella Dan when she grounded in December 1987 never went to sea again. Such was their passion for the ship.