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.
The first commercial application of Volvo Penta’s IPS Professional Platform will power Northern Offshore Services’ next-gen crew transfer vessel. Longtime collaborators Volvo Penta and N-O-S aim to more than satisfy the unique requirements of a possible 25x increase in offshore wind production.
Yara Clean Ammonia (YCA), the world’s largest ammonia distributor, has signed a long-term shipping contract with Navigator Amon Shipping, securing access to two vessels that will strengthen YCA’s position as a global leader in the low-emission ammonia market.The two modern medium gas carriers (MGCs), each with 51,000 cbm capacity, are equipped with dual-fuel engines and ice-class notation.
Amon Maritime has entered into a joint venture with Navigator Holdings Ltd., the owner and operator of the world’s largest fleet of handysize liquefied gas carriers.Pursuant to the Joint Venture, Navigator will acquire approximately 80% of the joint venture company, Navigator Amon Shipping AS, of Norway, with Amon Maritime holding approximately 20%, subject to the investment terms and conditions.
Norwegian offshore vessel operator Solstad Offshore has confirmed contracts for two of its construction support vessels (CSVs), which will be put to work in South America.The first contract is with Petrobras for the Normand Flower CSV, owned by Solstad Maritime.The contract, valued at $115 million excluding ROV services, was first announced in April 2025
Resorts World Cruises announced the return of two iconic Asian cruise brands – StarCruises and Dream Cruises. The Resorts World Cruises brand was used temporarily to restart cruising in Asia post-Covid and will be reverting to its roots over the last 30 years. The brand transition period will take approximately three months with the renewed ambition to reinforce StarCruises and Dream Cruises as
Norwegian crane specialist Motus Technology has secured a contract to provide its cranes and handling equipment for National Oceanographic and Atmospheric Administration (NOAA)’s Class B research vessels.Working in collaboration with Kongsberg Maritime, Motus’ new contract follows the equipment supply deal for NOAA’s Class A vessels in 2021.