TKMS, the defence business that German conglomerate Thyssenkrupp aims to spin off this autumn, plans to raise its profit margin to more than 7% to close a gap with rivals, banking on soaring military demand amid fears of Russian aggression.TKMS, which makes submarines, frigates as well as sensor and mine-hunting technology, has more than tripled its order backlog in five years.
The Panama Maritime Authority has initiated the expedited cancellation of six Panamanian vessels included in the UK Sanctions List – Consolidated List of Financial Sanctions Targets in the UK.The six ships were added to the UK list on November 25.“The State has the responsibility to guarantee the well-being of the Panamanian Registry
Sanmar Shipyards celebrated the delivery of the RAmparts 2400SX-MKII design tug UT PATZCUARO to Americas operator Ultratug at a ceremony held at its Altinova Shipyard on October 6, 2025, following the completion of closing in Tuzla earlier the same day. The delivery marks the first tugboat built by Sanmar for Ultratug.
President José Raúl Mulino met with more than 40 representatives of shipping companies from Japan’s Kanto region, where he presented Panama’s new ship registry strategy aimed at safeguarding its global leadership through enhanced safety standards and fully digitalized processes.Mulino emphasized that Panama’s registry is positioning itself as the flag of the future
Panama has achieved a 96.5% compliance rate with international maritime safety and environmental protection standards. The Panamanian fleet undergoes regular evaluations based on criteria established by key international frameworks, including various Memoranda of Understanding (MoUs) such as Paris, Tokyo, the Mediterranean, the Indian Ocean, the Black Sea, the U.S.
Russia said on Monday it had downed nine Ukrainian drones that tried to attack part of the infrastructure of the TurkStream gas pipeline, through which Russian gas flows to Turkey and Europe.The Russian defence ministry said the attack was aimed against a compressor station in the Krasnodar region of southern Russia, but the facility was working normally and there were no casualties.
Warship builder TKMS rode a global defence boom to reach a valuation of 6.3 billion euros ($7.35 billion) in its blockbuster stock market debut on Monday, surpassing that of parent and main shareholder Thyssenkrupp.The listing of TKMS is the German conglomerate's latest move to simplify its structure and take advantage of growing demand for defence assets.
The Ice Memory Foundation is preparing for the upcoming transport of ice cores from mountain glaciers to the Ice Memory Sanctuary in Antarctica.The announcement was made as part of the launch of the UN Decade of Action for Cryospheric Sciences (2025-2034) during the third UN Ocean Conference in Nice on June 8.
New Zealand said on Monday it would boost defense spending by NZ$9 billion ($5 billion) over the next four years, and aim to nearly double spending to 2% as a share of GDP in the next eight years, at a time of rapidly growing tension worldwide.The details came in remarks by Prime Minister Christopher Luxon, who called for more spending on defense to ensure prosperity.
Louisiana-based Conrad Industries announced a net income of $7.5 million for the quarter ending September 30, 2024.This compared to a $3.2 million loss during the third quarter of 2023. The company had net income of $11.2 million for the nine months ended September 30, 2024 compared to net loss of $14.1 million for the nine months ended September 30, 2023.