As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers.
Seatrium has announced the impending delivery of Petrobras 78 (P-78), the first of a series of turnkey floating production, storage and offloading (FPSO) units to Petrobras.The sailaway ceremony took place two weeks ago at Seatrium’s Singapore yard. Upon delivery, the P-78 will be deployed in Brazil’s prolific Buzios field, the largest deepwater oil field globally
ABS awarded approval in principle (AiP) to Overseas Shipholding Group, Inc. (OSG), the parent company of Aptamus Carbon Solutions, for its preliminary design of a liquefied carbon dioxide (LCO2) barge.The development of the barge design is a core component of the Tampa Regional Intermodal Carbon Hub (T-RICH) project to receive
A Mexican Navy sailing ship festooned with lights and a giant flag crashed into the landmark Brooklyn Bridge on Saturday night, shearing the top of its masts, killing two people and injuring several others, New York City Mayor Eric Adams said.Videos online showed the training vessel Cuauhtémoc as it approached the bridge over the East River, close to the Brooklyn side of the span
The US Coast Guard is coordinating with local, state and federal agencies in response to the helicopter crash in the Hudson River that occurred Thursday afternoon in New York City near the Holland Tunnel.The tourist helicopter crashed into New York City's Hudson River, killing all six aboard, including three children, Mayor Eric Adams said.
Europe soaked up most U.S. liquefied natural gas (LNG) exports for the second straight month in February, as cold weather and strong prices pushed up demand for the superchilled gas across the Atlantic, according to preliminary data from financial firm LSEG.The U.S. is the world's largest exporter of LNG and continues to play a major role in supplying Europe since Russia's invasion of Ukraine
Abu Dhabi's Al Seer Marine, a subsidiary of International Holding Company (IHC), has taken delivery of two new Medium Range (MR) tankers, M.T. Saiph and her sister ship from K Shipbuilding Korea.Each vessel is equipped with an Exhaust Gas Cleaning System (EGCS) and engineered to accommodate alternative fuels such as Liquefied Natural Gas (LNG), ammonia, and methanol.
Miros and Marine Technologies (MT) have signed a memorandum of understanding (MoU) to collaborate on integrating advanced marine sensing technologies with MT’s vessel control and smart-ship systems, the companies said on Wednesday.The agreement, which involves no financial commitments, outlines the companies’ intent to combine Miros’ real-time ocean sensing, wave and current monitoring
Brad Adams, co-founder of Subsea Estate in Western Australia, has just retrieved vats of his latest wine from the seabed just off the coast of Augusta.Partnered with wife and co-founder Jodee Adams and chief wine maker Emmanuel Poirmeur, he is creating a product unique in the southern hemisphere.
Global project heavy lift specialist AAL Shipping (AAL) is preparing to take delivery of its sixth 32,000-deadweight (DWT), 700 metric ton (MT) heavy lift Super B-Class vessel, the AAL Dammam. Unveiled at a naming ceremony at the CSSC Huangpu Wenchong Shipyard in Guangzhou, China, she is part of an eight-vessel newbuild fleet totaling 256
Norwegian offshore supply vessel owner DOF Group has secured four long-term charter and service contracts with Petrobras for its anchor handling tug supply (AHTS) vessels, worth approximately $480 million.As part of the new contracts, Skandi Iguaçu, one of the biggest AHTS vessels ever built in Brazil with over 350 mt bollard pull (BP) and large winch storage capacity has been contracted for
Huisman has signed a contract with Zhenjiang Jiangsu Shipyard for the delivery of a 100 mt Pedestal Mounted Crane to Eastern Navigation, a provider of maritime support fleets in the Asian-Pacific offshore energy industry.This marks the fifth Pedestal Mounted Crane Huisman will supply for Eastern Navigation's fleet.