A container ship will depart from South Korea bound for Europe via the Arctic on Saturday, testing whether a route opened by melting sea ice can be commercially viable, but risking friction with Western allies, as the voyage requires Russian cooperation.If successful, the trip would be South Korea's first such commercial voyage to Europe via the Arctic
The U.S. military said on Monday it destroyed six Iranian small boats and intercepted Iranian cruise missiles and drones as Tehran sought to thwart a new U.S. naval effort to open shipping through the Strait of Hormuz.U.S. President Donald Trump launched the operation, called Project Freedom, on Monday as he sought to wrest control of the critical waterway from Iran
Iran attacked a fully-loaded crude oil tanker at Dubai Port's anchorage on Monday, setting it ablaze and damaging its hull, Kuwait's state news agency reported, citing Kuwait Petroleum Corp, which warned of a possible oil spill.The apparent strike is just the latest in a string of assaults on merchant vessels by missiles or explosive air and sea drones in the Gulf and Strait of Hormuz since the U.
The South Korean-owned Philly Shipyard in the United States does not currently have the capability to build a nuclear-powered submarine, Prime Minister Kim Min-seok said on Thursday during a parliamentary hearing.His remarks come after U.S. President Donald Trump wrote on social media last week that he had given approval for South Korea to build a nuclear-powered submarine and that it would be
Ship-to-ship transfers in the Gulf of Oman for Middle Eastern oil from inside the Strait of Hormuz have reached their limits after Saudi Arabia diverted exports from the Red Sea, adding to shipments from other producers, trade sources and analysts said.The increasing amount of Saudi exports this month requires more supertankers to shuttle crude through Hormuz to conduct cargo transfers, they said.
The small Pacific Island state of Vanuatu is trying to bring a decades-old dispute with France over two uninhabited islands before the International Court of Justice, the United Nations' top court said on Tuesday.The ICJ, also known as the World Court, will not immediately accept the case because France has not agreed to so-called compulsory jurisdiction of the ICJ over its disputes with other
The offshore energy industry is in the midst of a new investment cycle, driven by major developments in South America, renewed demand for energy security and an increasing reliance on digital technologies to improve asset performance. For Matt Tremblay, Senior Vice President, Global Offshore at the American Bureau of Shipping (ABS), the opportunities are significant — but so are the challenges.
Massachusetts Maritime Academy, a public university with undergraduate degree programs focusing on science, engineering, technology, math, and business that blend academics and experiential learning is proud to announce that International Maritime Business Professors Bhani Ghosh and Paul Szwed recently presented at the International Accreditation Council for Business Education (IACBE) conference
Global stocks wavered on Tuesday, while oil prices were perched above $110 per barrel as the prospect of escalation in the war in the Middle East and the looming deadline for a deal to be reached kept nervy investors on the sidelines.Markets have been rattled since the U.S.-Israel war on Iran broke out at the end of February, with Tehran effectively closing the Strait of Hormuz
ABS, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and HD Hyundai Samho Heavy Industries (HD HSHI) signed a joint development project (JDP) for the “Conceptual Design of a Nuclear-Powered Electric Propulsion System.”Under the agreement, HD KSOE and HD HSHI will develop the basic design
About 2 million barrels of Venezuelan heavy crude are being sent to refineries owned by oil producer Repsol in Spain, following purchases the company negotiated with trading house Trafigura, according to shipping schedules seen by Reuters.Trafigura and Vitol were granted U.S. licenses last month to export millions of barrels of Venezuelan oil to the U.S. and other destinations, following the U.S.
Seventeen students from seven U.S. and El Salvador maritime academies and universities have been selected as the 2025 recipients of the Thomas B. Crowley Sr. Memorial Scholarship. The scholarship recognizes students who demonstrate exceptional academic achievement and dedication to their studies related to the maritime industry. The scholarship honors the legacy of Thomas B. Crowley Sr.