South Korea's HD Hyundai Heavy Industries is in talks with multiple companies about buying a U.S. shipyard, a senior company executive said, seeking to tap into President Donald Trump's push to revive America's ailing shipbuilding industry.The world's largest shipbuilder based on orders is targeting 3 trillion won ($2.2 billion) in annual revenue by 2035 from building warships for the U.S.
While political winds in the U.S. have significantly tampered many ‘green’ projects, Curtin Maritime is domiciled in California, which is globally known for its strict environmental initiatives. To that end, Curtin Maritime inked a contract recently to invest $160m for eight new hybrid-electric tugboats, vessels being built by Snow & Co.
European defense giant Rheinmetall has signalled interest in taking over German shipbuilder Naval Vessels Luerssen, industry sources told Reuters on Wednesday, as the Duesseldorf-based firm looks to expand into the naval business.According to the Bild newspaper, which first reported Rheinmetall's plans, the supervisory board intends to consider the purchase in the coming weeks.
Order intake, exports, and green technology demand fuel confidence for 2025Germany’s maritime equipment and offshore supply industry is posting steady growth in 2024 and setting an optimistic course for 2025, according to new figures released by the VDMA Marine Equipment and Systems Association.With an average turnover increase of 5.
U.S. President Donald Trump wants a pay raise for troops, more high-tech missiles and drones in next year's defense budget, while cutting Navy jobs, and buying fewer ships and fighter jets to save money, according to budget materials posted Wednesday.At $892.6 billion, the defense and national security budget request is flat compared with this year.
Germany’s maritime industry is proving resilient amid global economic uncertainty and shifting geopolitical priorities. At the annual conference of the German Shipowners' Association (VDR), statistics underscore the sector's role in securing trade, employment, and economic stability.
Saildrone Founder and CEO Richard Jenkins shares news on Lockheed Martin's recent investment in Saildrone:Today, I am delighted to announce a $50 million investment from Lockheed Martin in Saildrone, Inc. This commercial relationship marries the world’s most sophisticated and trusted defense technology with the world’s most capable and operationally proven USV technology.
Swedish firm Njord Survey has entered into a frame agreement with Energinet, Denmark’s national transmission system operator (TSO), covering site and route survey services for offshore wind and subsea cable projects.The long-term collaboration reinforces Njord Survey’s position as provider of services to the offshore renewable sector.
Norwegian shipbuilder Vard has marked the start of construction of Island Offshore’s hybrid power ocean energy construction vessel (OECV) at its shipyard in Romania.Vard secured the order for the vessel, named Island Evolution, from Island Offshore back in May 2024, which also included an option for two additional vessels.
After a year of preparing the ship and crew, Schmidt Ocean Institute’s research vessel Falkor (too) has completed its first science expedition to Antarctica. The three-week expedition, which ended in early January, was ambitious in its science scope and required operational refinements to navigate safely in unfamiliar environmental conditions.
Marine geosciences and offshore construction support services firm Next Geosolutions has acquired a multi-purpose survey vessel (MPSV) from Beitveit Holding for $7.1 million.The vessel, Sea Admiral, will be renamed NG EXPLORER, and will be used for geophysical, geotechnical, environmental and UXO surveys.
The Philippines will acquire 40 fast patrol craft for its coast guard to boost its maritime security, the economic planning agency said on Tuesday.The purchase, to be funded by official development assistance from the French government, was approved by the National Economic and Development Authority Board, chaired by President Ferdinand Marcos Jr.