Great Lakes Dredge & Dock Corporation and Saltchuk Resources, Inc. announced a definitive agreement for Saltchuk to acquire Great Lakes at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies
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.
The investigation into why a Mexican Navy training ship struck the Brooklyn Bridge on Saturday, shearing the top of its masts, will look into a possible engine failure and the role of a tug boat that assisted it in backing out of its pier, officials said on Monday.The ship's engine was the key focus for the National Transportation Safety Board, said Brian Young
The Trump administration imposed sanctions on Iranian oil trading networks on Thursday, including on a China-based crude oil storage terminal linked via a pipeline to an independent refinery, just days before direct talks between the U.S. and Iran.The sanctions came after Secretary of State Marco Rubio said the U.S. will hold direct talks with Iran on Saturday in Oman.
Baker Hughes has secured a contract to supply gas compression and power generation technology for ST LNG’s proposed 8.4 million tonnes per annum liquefied natural gas export terminal offshore Matagorda in Texas.Under the agreement, Baker Hughes will provide two LM6000PF gas turbine-driven centrifugal compressor trains and three NovaLT16 gas turbine generator packages for the first phase of the
The Pentagon is sending an aircraft carrier from the Caribbean to the Middle East, two U.S. officials told Reuters on Friday, a move that would put two carriers in the region as tensions soar between the United States and Iran.The Gerald R. Ford carrier, the United States' newest and the world's largest carrier
IBIA – International Bunker Industry Association Board announced the outcome of their elections at the IBIA Annual General Meeting (AGM), ahead of the IBIA Annual Dinner at the Grosvenor House Hotel in London’s Park Lane.A total of eleven candidates stood for election for the four available Board positions.
HII announced that its Newport News Shipbuilding (NNS) division has successfully completed builder’s sea trials of John F. Kennedy (CVN 79), the second Gerald R. Ford-class nuclear-powered aircraft carrier.Kennedy returned to NNS after testing important ship systems and components at sea for the first time.The sea trials brought together NNS shipbuilders, John F.
Christopher Ralph Lavers and Edmund G. R. Kraal have released a new edition of their volume 7 book, Advanced Electrotechnology for Marine Engineers - Reed's Marine Engineering and Technology Series. Copies can be purchased here.
U.S. energy firms this week added oil and natural gas rigs for a third week in a row for the first time since February, energy services firm Baker Hughes said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future output, rose by three to 542 in the week to September 19, its highest since July.
Baker Hughes has signed a multi-year contract with Petrobras to extend deployment of its Blue Marlin and Blue Orca stimulation vessels, supporting offshore oil and gas production in Brazil’s post and pre-salt fields.The award, which followed an open tender, also covers the supply of associated chemicals and services.
Three cabinet-level South Korean officials met U.S. Commerce Secretary Howard Lutnick in Washington for trade talks, Seoul said on Wednesday, as top business leaders were also reported to be flying in to help lobby for a deal on U.S. tariffs.South Korean Finance Minister Koo Yun-cheol joined Industry Minister Kim Jung-kwan and Minister for Trade Yeo Han-koo