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.
Title: Famous Irish MarinersAuthor: Emma ByrnePublication date: September 22, 2025ISBN 9781788494922 PRICE €17.99/£15.99 HBFORMAT 196x129 mm EXTENT 176ppAlso available as an eBook.Ireland has a rich history of famous – and infamous – mariners: from our earliest navigators, who may have reached North America – by currach – a thousand years before Columbus
Iranian authorities detained 18 crew members of a foreign tanker seized in the Gulf of Oman on Friday that they said was carrying 6 million litres of smuggled fuel, Iranian media reported on Saturday.Iran, which has some of the world's lowest fuel prices due to heavy subsidies and the plunge in the value of its national currency
Vantage Drilling International Ltd. reported a net income attributable to shareholders of approximately $67.2 million or $4.97 per diluted share for the three months ended September 30, 2025, based on the weighted average shares outstanding, as compared to a net loss attributable to shareholders of approximately $10.6 million or $0.
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.
The latest U.S. sanctions on a major Chinese crude oil terminal have forced refining group Sinopec to divert a supertanker and ask some plants to cut crude processing rates, according to ship tracking data and Chinese consultancies.A supertanker carrying oil to the Chinese port of Rizhao in Shandong province changed its destination over the weekend after the U.S.
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.
Konecranes has completed an order for BAE System’s new Govan shipbuilding hall that includes two 20t x 56m electric overhead travelling (EOT) cranes and two 100t x 70m Goliath cranes. The hall will be able to build two Type 26 naval frigates at the same time, accelerating efficiency and removing any impact of the Scottish weather on production. The order was completed in June 2025.