U.S. officials responding to economic uncertainty over high oil prices predicted on Sunday that the U.S.-Israeli war on Iran would end within weeks and that a drop in energy costs would follow, despite Iran's assertion that it remains "stable and strong" and ready to defend itself.U.S.
Supertanker costs in the Middle East have hit all-time highs, according to shipping data and industry sources on Tuesday, as the U.S.-Iran conflict intensifies with Tehran attacking ships passing through the Strait of Hormuz.Shipping through the Strait between Iran and Oman, which carries around one-fifth of oil consumed globally as well as large quantities of liquefied natural gas
China's trade surplus topped $1 trillion for the first time as manufacturers seeking to avoid President Donald Trump's tariffs shipped more to non-U.S. markets in November, with exports to Europe, Australia and Southeast Asia surging.Shipments to the United States dropped by close to one-third from the same month a year before."The tariff cuts agreed under the U.S.
By Captain Bobbie Scolley, U.S. Navy (ret.) and Rear Admiral Tim Gallaudet, U.S. Navy (ret.)For more than six decades, spanning from 1905 to the late 1970s, the U.S. Navy’s diving apparatus for deep ocean operations and salvage remained fundamentally unchanged. During this period, the demographic of navy divers also saw little alteration.
Green hydrogen developers are cancelling projects and trimming investments around the world, raising the prospect of longer than targeted reliance on fossil fuels.The challenges facing the sector have exposed its initial ambitions as unrealistic.Hard-to-electrify industries that were seen as ideal candidates for green hydrogen, such as steelmaking and long-distance transportation
Coal-fired power generation decreased 1.9% in 2025; non-fossil generation outpaces demand growthChina's coal-fired power generation decreased 1.9% in 2025, marking a historic shift driven by new non-fossil generation that has finally outpaced demand growth, according to a recent report from Wood Mackenzie.
Rigs drilling beneath the deep waters of the Gulf of Mexico will drive U.S. oil industry growth this year and next as onshore production slows due to lower prices and maturing shale fields, and analysts and consultants expect the trend to continue as new technology and friendly regulations attract investment offshore.
Nippon Yusen Kabushiki Kaisha (NYK) has completed a joint demonstration with Singapore-based Global Centre for Maritime Decarbonisation (GCMD) that verified the long-term use and storage of biofuel onboard ships, confirming its technical safety and sustainable usability.The six-month trial, as part of Project LOTUS, involved continuous use of B24 biofuel on a pure car and truck carrier.
Hanwha Ocean, one of the leading shipbuilders in South Korea, has awarded ABB the contract to supply a complete electric power and propulsion system for Singapore’s first floating liquefied natural gas (LNG) terminal.ABB ’s integrated electrical system on board the Floating Storage and Regasification Unit (FSRU) will comprise a medium voltage generator, 6.
MARL International, part of Glamox, a global leader in lighting, announced today that it is partnering with Canadian firm Apex Industries, which will manufacture its marine lighting systems under license in Canada for three destroyers for the Royal Canadian Navy (RCN). Apex Industries was awarded the lighting systems contract by Irving Shipbuilding
A new report from Wood Mackenzie, "Trading cases: Tariff scenarios for taxing times", presents three futures for the global energy landscape, highlighting the far-reaching implications of ongoing trade tensions for the energy and natural resources sectors.The report presents three possible outlooks for the global energy and natural resources industries - Trade Truce (the most optimistic)
A prominent energy research firm slashed its five-year outlook for new U.S. wind energy projects by 40% on Tuesday, citing Trump administration policies and concerns about the economy.Wood Mackenzie expects the United States to install 45.1GW of wind, both onshore and offshore, through 2029. It had originally forecast installations of 75.8GW over that period, the firm said in a statement.U.S.