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 Trump administration imposed sanctions on Iranian oil trading networks on Thursday, including on a China-based crude oil storage terminal linked via a pipeline to an independent refinery, just days before direct talks between the U.S. and Iran.The sanctions came after Secretary of State Marco Rubio said the U.S. will hold direct talks with Iran on Saturday in Oman.
When President Donald Trump sat down to lunch with his Japanese counterpart this month, talk turned quickly to how Tokyo could help realize a decades-old proposal to unlock gas in Alaska and ship it to U.S. allies in Asia.Trump and his energy tsar Doug Burgum framed the venture as a way for Japan to replace Middle East energy shipments and address its trade imbalance with the U.S.
U.S. energy firms this week added oil and natural gas rigs for a third week in a row for the first time since February, energy services firm Baker Hughes said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future output, rose by three to 542 in the week to September 19, its highest since July.
Baker Hughes has signed a multi-year contract with Petrobras to extend deployment of its Blue Marlin and Blue Orca stimulation vessels, supporting offshore oil and gas production in Brazil’s post and pre-salt fields.The award, which followed an open tender, also covers the supply of associated chemicals and services.
Zelim, an Edinburgh-based maritime safety innovator, has signed an agreement with Ambassador Cruise Lines for the installation of its ZOE man overboard (MOB) detection system on Ambition cruise ship, marking its entry into the global cruise ship sector.Zelim is fitting out the 1,200-passenger capacity cruise ship with a full ZOE installation to deliver instantaneous detection and tracking of
There’s a tendency for owners to stick with the coatings they are familiar with, but environmental concerns, particularly regarding marine biodiversity, are providing fresh opportunities for them to reconsider.Measuring hull coating performance from noon reports yields around 350 data points over a five-year docking cycle after including full loaded sailing days and excluding adverse weather
A nuclear-propelled containership designed by HD Korea Shipbuilding & Offshore Engineering (HD KSOE) received approval in principle from ABS.The design for a 15k TEU vessel uses a propulsion system comprised of a molten salt reactor (MSR) for heat and a supercritical carbon dioxide (SCO2) system for power generation.
Hanwha Power Systems and Hanwha Ocean have signed a joint development and collaboration agreement with Baker Hughes to design and produce low carbon ammonia gas turbines, to contribute towards reaching the goal of completely carbon-free operation of ships.Hanwha Group plans to complete the development of liquefied natural gas carriers and container ships using the ammonia gas turbine propulsion
Australia-based Provaris Energy has signed an agreement with global energy technology company Baker Hughes.The collaboration marks a significant step forward in the development and deployment of compressed hydrogen solutions for marine transportation and storage, leveraging Provaris’ proprietary H2Leo Barge and H2Neo Carrier alongside Baker Hughes’ compression expertise.
HII was recognized a second year in a row as one of top companies in the country for its commitment to advancing employee well-being through comprehensive and innovative benefits and initiatives. HII is among a group of 53 companies recognized by Business Group on Health as a 2025 Best Employers: Excellence in Health & Well-being Award winner.
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row to the lowest since December 2021, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future output, fell by four to 576 in the week to Jan. 24.