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.
TKMS, the defence business that German conglomerate Thyssenkrupp aims to spin off this autumn, plans to raise its profit margin to more than 7% to close a gap with rivals, banking on soaring military demand amid fears of Russian aggression.TKMS, which makes submarines, frigates as well as sensor and mine-hunting technology, has more than tripled its order backlog in five years.
U.S. President Donald Trump's administration is on a mission to weaken China's global network of ports and bring more strategic terminals under Western control, according to three sources familiar with the plan.The drive is part of the most ambitious effort to expand U.S. maritime influence since the 1970s and is designed to address growing fears in Washington that it would be at a disadvantage
The US Coast Guard Investigative Service (CGIS) has arrested the captain of the 8,814-TEU container ship MSC Jubilee IX for suspicion of operating the vessel while intoxicated following a boarding at Terminal 5 in Seattle, August 20.Watchstanders at Coast Guard Sector Puget Sound were notified by a Puget Sound Pilot aboard the MSC Jubilee IX
The U.S. on Tuesday rejected the "Net-Zero Framework" proposal by the IMO, which is aimed at reducing global greenhouse gas emissions from the international shipping sector, and threatened measures against countries that support it.The announcement, made in a joint statement by Secretary of State Marco Rubio, Commerce Secretary Howard Lutnick
President Donald Trump's 'Big Beautiful Bill' earmarks more than $8.6 billion to increase the U.S. Coast Guard icebreaker fleet in the Arctic, where Washington hopes to counter rising Russian and Chinese dominance.The funding includes $4.3 billion for up to three new heavy Coast Guard Polar Security Cutters, $3.
The United States will "take back" the Panama Canal from Chinese influence, U.S. Defense Secretary Pete Hegseth said on Tuesday during a visit to the Central American nation.After talks with Panama's government, Hegseth vowed to deepen security cooperation with Panamanian security forces and said China would not be allowed to "weaponize" the canal by using Chinese firms' commercial relationships
The United States is preparing to impose docking fees at its ports on any ship belonging to a fleet that includes Chinese-built or Chinese-flagged vessels, according to a draft executive order, a move aimed to both revitalize U.S. shipbuilding while countering China’s dominance in global shipping and shipbuilding.
The first thirty days of the new Trump Administration have brought sweeping changes throughout the federal government. We take a pause to assess where things stand for maritime stakeholders and what may be coming next in Washington, DC, for our industry.A Maritime DirectiveFor those that work in the U.
U.S. Secretary of State Marco Rubio on Sunday warned Panama's President Jose Raul Mulino that Washington will "take measures necessary" if Panama does not immediately take steps to end what President Donald Trump sees as China's influence and control over the Panama Canal.Mulino, after the talks with the top U.S.
In the ever-evolving world of maritime trade, ship ownership is a key indicator of economic influence and global commerce. As we enter 2025, Veson Nautical offers its Top 10 Ship Owning Nations, offering a detailed analysis of fleet values and industry shifts. This year, China has surged to the top, overtaking Japan in total fleet value
The maritime industry’s elusive quest to achieve so-called ‘zero’ emissions continues. Where it ends is not a one-size-fits-all discussion.The year-end maritime industry discussions tend to move away from global influence and back drift to national and domestic debates. As this happens