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.
At Gastech 2025, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and HD Hyundai Heavy Industries (HD HHI) received approval in principle (AIP) from ABS for its concept design of a 16,000 TEU container ship with an electric propulsion system.ABS completed design reviews based on class requirements, analyzing the power system including key elements such as power generation
Four seafarers on the Liberian-flagged, Greek-operated bulk carrier Eternity C were killed in a drone and speedboat attack off Yemen, an official with knowledge of the issue said on Tuesday, the second incident in a day after months of calm.The Red Sea, which passes Yemen's coast, has long been a critical waterway for the world's oil and commodities but traffic has dropped since the Iran-aligned
The investigation into why a Mexican Navy training ship struck the Brooklyn Bridge on Saturday, shearing the top of its masts, will look into a possible engine failure and the role of a tug boat that assisted it in backing out of its pier, officials said on Monday.The ship's engine was the key focus for the National Transportation Safety Board, said Brian Young
The bipartisan, bicameral bill will fuel U.S. economy, strengthen national security by responding to China’s threat over the oceans. Currently, the number of U.S.-flagged vessels in international commerce is 80; China has 5,500.Today, Senator Mark Kelly (D-AZ), Senator Todd Young (R-IN), Representative John Garamendi (D-CA-8)
Christopher Ralph Lavers and Edmund G. R. Kraal have released a new edition of their volume 7 book, Advanced Electrotechnology for Marine Engineers - Reed's Marine Engineering and Technology Series. Copies can be purchased here.
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.
ABS has granted Approval in Principle (AIP) to Lemissoler Corporate Management Ltd. for its watertight hatch cover design for bulk carriers.The design improves hatch cover water tightness through an innovative seal arrangement, features an enclosed deck configuration that enhances crew protection from weather, reduces deck maintenance, and increases cargo capacity.
The U.S. Virgin Islands (USVI) is involved in a proposal that aims to create a US international ship registry domiciled in the U.S. territory, the island's governor said.President Donald Trump's administration is considering the proposal as part of efforts to enlarge the tiny commercial shipping fleet flying the American flag, sources familiar with the matter told Reuters last week.
The $5.4 trillion global maritime industry faces a perfect storm of cyber vulnerabilities, and a new government regulation aims to be the lighthouse guiding stakeholders to safer digital harbors.On January 17, 2025, the US Coast Guard (USCG) published a final rule titled “Cybersecurity in the Marine Transportation System
American Bureau of Shipping (ABS) has issued an approval in principle (AiP) for Kongsberg Maritime’s Dynamic Positioning Digital Survey (DPDS) application.The DPDS application from Kongsberg continuously gathers data from a vessel’s dynamic positioning (DP) system, allowing annual DP surveys to move from in-person assessments on the vessel in a fixed timeframe to remote analysis onshore across a
China's presence around the Panama Canal is a national security concern that Panama's government has to deal with, Mauricio Claver-Carone, the U.S. special envoy for Latin America, said on Friday, ahead of U.S. top diplomat Marco Rubio's visit to the country.Rubio will depart on Saturday on his first foreign trip