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.
American Bureau of Shipping (ABS), Japan’s ENEOS, Nippon Yusen Kabushiki Kaisha (NYK Line) and SEACOR Holdings have launched a joint study to develop a commercial methanol marine fuel supply network along the U.S. Gulf Coast.The study aims to establish the first large-scale ship-to-ship methanol bunkering operations in the United States
China has indicated it will ban all imports of Japanese seafood, two government officials in Tokyo said on Wednesday, in what appears to be the latest salvo in an escalating diplomatic dispute between Asia's top two economies.Tensions between the two countries ignited after new Japanese Prime Minister Sanae Takaichi said this month that a Chinese attack on Taiwan threatening Japan's survival
Flex LNG Ltd. reported steady third-quarter results for 2025, with a continued focus on maintaining its modern fleet of 13 large LNG carriers at peak operational and financial efficiency.Vessel operating revenues held firm at $85.7 million, with an average Time Charter Equivalent (TCE) rate of $70,921 per day across the fleet. The company reported net income of $16.
U.S. shipbuilders and port operators are getting hit in the fallout from President Donald Trump’s campaign to wipe out the offshore wind industry, suffering hundreds of millions of dollars in lost government support, vanishing vessel orders, and an uncertain future for the billions of dollars' worth of investments.
A joint U.S. and Japanese military exercise will see the temporary deployment of the "Typhon" intermediate-range missile in Japan, Japanese and U.S. officials said on Thursday, a move likely to anger China.The Typhon system is part of a drive by Washington to amass a variety of anti-ship weapons in Asia.
“In a global marketplace, supply and demand in one area of the world can greatly impact the agricultural production in another. American products are shipped worldwide …” is how the U.S. Department of Agriculture (USDA) describes the backdrop for international trade. The inland and coastwise waterway systems serving the United States (where agricultural cargoes are an important component) are
St. Johns Ship Building, a Florida-based Jones Act facility owned by Americraft Marine, has announced the successful delivery of the Atlantic Endurance, the second of two Chartwell Ambitious-Class Crew Transfer Vessels (CTVs) ordered by Atlantic Wind Transfers. The delivery follows the recent handover of the Atlantic Resolute and brings the total number of CTVs delivered by St.
The Chamber of Shipping of America has recognized 57 Crowley-owned or -managed vessels with its Jones F. Devlin Safety Awards, honoring the achievements and hard work of crews that together completed a total of 478 years without a lost time injury.The Jones F. Devlin Safety Award honors the commitment of people and companies responsible for long-term operational safety
In the last decade, changing U.S. Administrations have become increasingly tumultuous, as the swings in priorities and directives have a real, material impact on business. Read on for insights on the current and future of U.S. Offshore Wind.In the weeks preceding his late January inauguration
Consortium partners Semco Maritime and PTSC M&C have completed the load-out and sail-away of the second and last offshore substation for the Hai Long Offshore wind project in Taiwan.The load-out and sail-away of the second substation for Hai Long 3 offshore wind farm, which took place on March 8, 2025, comes almost a year after the first substation for Hai Long 2 was delivered to the project site.
Flex LNG Ltd. released its unaudited financial results for the fourth quarter and full year ended December 31, 2024, reporting a robust performance amid a challenging LNG shipping market.Flex LNG posted vessel operating revenues of $90.9 million for the fourth quarter, a slight increase from $90.5 million in the third quarter. Net income surged to $45.2 million, significantly up from $17.