Venezuela's state-run oil company PDVSA has begun cutting crude production because it is running out of storage capacity due to an ongoing U.S. oil blockade that has reduced exports to zero, piling more pressure on an interim government trying to hang onto power in the face of U.S. threats of more military action.
Newbuilds expand AET’s dual-fuel fleet to all of its sectors: Aframaxes, Shuttle Tankers, Suezmaxes and Very Large Crude Carriers (VLCCs)AET signed shipbuilding agreements with Samsung Heavy Industries (SHI) for the construction of two LNG dual-fuel Suezmax tankers.The vessels will further expand AET’s growing dual-fuel fleet operating worldwide.
European financial markets are under strain as the U.S.-Israeli war on Iran revives concerns about an energy supply shock exacerbating inflation.ING says the euro zone is the most exposed major economy to the conflict, making the region, which has benefited from investor diversification out of U.S. assets, vulnerable to setbacks.
The Tennessee-Tombigbee Waterway Development Authority has elected Governor Tate Reeves of Mississippi to serve as Chairman for 2026. Governor Reeves will lead the four-state interstate compact as it advances economic development, freight mobility, and recreation along the Tennessee-Tombigbee Waterway and the broader M-65 Marine Highway corridor.
Boksa Marine Design (BMD), a full-service naval architecture and marine engineering firm based in Tampa, announced a strategic leadership transition and the opening of a new Fort Lauderdale, FL, office.After more than 20 years as Founder and President, Nick Boksa will transition into the role of Chief Executive Officer (CEO) and Senior Engineer.
Anemoi Marine Technologies and COSCO Shipping Heavy Industry have renewed a framework agreement to expand collaboration on the installation of rotor sail wind-propulsion systems across COSCO Shipping subsidiary shipyards.The renewed agreement builds on cooperation that began in 2022, during which the companies completed the installation of nine rotor sails at COSCO Shipping Heavy Industry yards
A U.K.-led maritime consortium has set out plans to develop international standards for nuclear-powered commercial ships, as Britain seeks a leading role in efforts to decarbonize global shipping.The Maritime Nuclear Consortium, convened by Lloyd’s Register, brings together companies from the nuclear, maritime, insurance and regulatory sectors to address safety, security
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.
Lloyd’s Register (LR) has published a new guidance document, providing the first roadmap for the safe and responsible use of nuclear technology in commercial shipping and offshore industries.As the maritime sector accelerates its transition towards sustainable energy solutions, nuclear power has re-emerged as a viable solution to achieve net-zero ambitions.
Classification society DNV has awarded an Approval in Principle (AiP) to SeaTech Solutions for the design of a new 10,000cbm ammonia bunkering vessel, being developed in collaboration with Oceania Marine Energy.Measuring 130-metres, the ammonia bunkering vessel is specifically designed to deliver low-carbon ammonia to ammonia dual-fueled bulk carriers at the Port of Dampier
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
C&C Marine and Repair has promoted Nick Bergeron to General Manager.Bergeron brings more than 30 years of marine industry experience to his expanded role. Prior to joining C&C Marine, he spent 25 years with Zito Companies in a variety of leadership and operations positions.“Nick has been a tremendous addition to the C&C family,” said Tony Cibilich, Owner of C&C Marine and Repair.