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.
Israeli forces stopped 14 boats carrying foreign activists and aid bound for Gaza, flotilla organisers said on Thursday, but 23 boats are continuing to sail towards the war-ravaged Palestinian enclave, according to the flotilla's tracking system.A video from the Israeli foreign ministry verified by Reuters showed the most prominent of the flotilla's passengers
Family members of two men killed in a U.S. missile strike against a suspected drug boat near Venezuela filed a wrongful death lawsuit on Tuesday, alleging the pair were murdered in a "manifestly unlawful" military campaign targeting civilian vessels.Civil rights lawyers filed the lawsuit in Boston's federal court, marking the first court challenge to one of the 36 U.S.
Babcock has marked two major milestones at its Rosyth shipyard in Scotland as the keel was laid for HMS Formidable, the third ship in the UK’s Type 31 frigate program, and the company announced an expanded partnership with U.S. defense contractor HII to support construction of Virginia-class submarines.
The U.K. and Indonesia have agreed a $5.23 billion (£4 billion) maritime deal that will secure around 1,000 jobs in Britain and strengthen defense and security cooperation in the Indo-Pacific.The new Maritime Partnership Programme, led by British defense firm Babcock, will see both countries jointly develop maritime capability for Indonesia’s navy and build more than 1
Accelleron has signed an agreement with Hyundai Marine Solution (HMS), the aftermarket and digital division of shipbuilder HD Hyundai Group, to enter a strategic cooperation on digital solutions. Two Accelleron solutions will cover engine and turbocharger monitoring and optimization. Under the partnership, the companies will seek closer integration and further efficiencies across digital tools.
American Bureau of Shipping (ABS) has granted approval in principle (AiP) for VesselWise, a next-generation autonomous technology for optimizing propulsion to improve fuel efficiency and enhance operational stability.The technology was developed by HD Korea Shipbuilding & Offshore Engineering (HD KSOE), HD Hyundai Heavy Industries (HD HHI) and HD Hyundai Marine Solution (HD HMS) for LNG carriers.
China's military on Friday condemned the sailing of a U.S. and British warship through the sensitive Taiwan Strait, saying it ordered naval and air forces to monitor and warn the two ships.The People's Liberation Army's Eastern Theatre Command said the U.S. destroyer USS Higgins and British frigate HMS Richmond were engaged in "trouble-making and provocation".
On August 5, a naming ceremony took place at the Sakaide Works of Kawasaki Heavy Industries Ltd. for a newly built very large gas carrier (VLGC). This vessel marks the sixth dual-fuel LPG (liquefied petroleum gas) carrier ordered by NYK, following the delivery of Liberty Pathfinder in October of the previous year.
IntroductionThe increase in geopolitical tensions in the Middle East recently resulted in Iran threatening to close the strategically vital Strait of Hormuz (the “Strait”) to international shipping. Inevitably, this led to considerable concern over the impact that the closure of the Strait (or attacks on vessels passing through the Strait) would have on the flow of goods and energy products
Equinor, the developer of Empire Wind, has launched the Service Operations Vessel ECO Liberty on June 28 for deployment in its New York offshore wind project. Louisiana First Lady Sharon Landry served as the vessel’s “Godmother” during a christening ceremony on the Mississippi River at the Port of New Orleans.
The Round Table of International Shipping Associations - which consists of BIMCO, the International Chamber of Shipping (ICS), INTERTANKO, and INTERCARGO - has called for the increase in the awareness of seafarer safety, rights, and treatment outside of the shipping industry.The chairpersons of the world’s biggest shipping industry organizations gathered on February 6 in Athens to discuss topics