Mavrik Marine, Inc. was selected to build high-speed passenger ferries for the Golden Gate Bridge Highway & Transportation District. Mavrik will construct catamaran passenger ferries as part of the District’s eight vessel Lima Class Ferry Replacement Program to provide transportation services in San Francisco Bay.
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.
C&C Marine and Repair has delivered the M/V Al Sloss to Canal Barge Company, completing the first vessel in a four-boat newbuild series currently under construction for the New Orleans-based operator.The 2,600-horsepower, 87- x 34-ft. towboat was designed by C&C Marine and Repair’s in-house engineering team and constructed on an accelerated schedule
Golar LNG Limited has announced that it has successfully closed and drawn a new $1.2 billion asset backed debt facility agreement with a consortium of banks including ABN AMRO, Citibank, DNB, Goldman Sachs and Standard Chartered Bank for the refinancing of FLNG Gimi. The new $1.2 billion bank facility replaces an existing bank facility with an outstanding amount of $627 million as at Q3 2025.
On October 7, Damen Shipyards Group delivered its latest Combi Freighter (CF) 3850 to family owned German shipping company Reederei Gerdes. The delivery of the vessel, named Holger G, took place during a ceremony at the Bason Shipyard in Vietnam. The vessel is named Holger G. Damen’s CF 3850 represents the latest generation in the shipbuilder’s cargo vessel portfolio.
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.
U.S. corn futures plunged to contract lows on Tuesday after the Department of Agriculture projected a record-shattering corn harvest this year as farmers planted more acres than expected and the crop faced few weather challenges this summer.Soybeans reversed earlier losses after the USDA, in a monthly crop supply and demand report, forecast a smaller-than-expected U.S.
Southern Energy S.A. (SESA), a company formed to enable LNG exports from Argentina, has reached final investment decision (FID) for the charter of 3.5MTPA MK II floating LNG (FLNG) from Golar LNG.The key commercial terms for the 20-year charter agreement include net charter hire to Golar of $400 million per year, plus a commodity linked tariff component of 25% of FOB prices in excess of $8/mmbtu.
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.
American Fan working with Ingalls Shipbuilding and other shipbuilders to provide ventilation fans for ten Flight III destroyersFairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has been awarded multiple purchase orders for its Ohio-based business unit, American Fan
Golar LNG Limited sold the 2003 built steam turbine LNG carrier, Golar Arctic for $24 million before transaction-related expenses, wit the transaction expected to close, and the vessel is to be handed over to its new owner within Q1 2025. Following the vessel sale, Golar will have fully exited its legacy shipping business.
Green Yard Kleven and the Brazilian shipowner Oceanica have signed a contract to convert the vessel Oceanicasub XVII from an Anchor Handling Tug Supply (AHTS) vessel to a ship capable of performing Remote Operated Vehicle (ROV) operations.Oceanicasub XVII will be equipped with mezzanine decks for ROV equipment, extended crew capacity, and areas for charterers.