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 offshore rig market recovery appears to have taken a pause, with demand tapering off and marketed utilization hitting the lowest levels recorded since recovery began in 2021. A variety of factors have contributed to this – including Saudi Aramco’s suspension of over 30 jackup contracts by up to one year, the entry of newbuild rigs into the market without work to go to
Expansion into Harbor Tug sector helps Master Boat Builders nearly double in size, from 200 to 400 employees building eight to nine vessels per year, and the prospect of a new drydock plus additional partnerships and government construction contracts promises to power the company forward further, faster.
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.
“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
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
American Commercial Barge Line (ACBL) named Peter Coxon as Chief Executive Officer, effective immediately. Coxon brings more than 40 years of maritime industry experience to ACBL as both an operator and customer. Most recently, he served as CEO of Rand Logistics, leading a successful turnaround, driving improved performance and synergies following Rand’s acquisition of American Steamship Company.
Vantage Drilling International completed the sale of the Tungsten Explorer to TEVA Ship Charter LLC, the joint venture entity owned 25% by the Ccompany and 75% by TotalEnergies. In line with previous announcements Vantage will continue to manage the Tungsten Explorer for a ten year term with the option to extend for an additional five years.
The Philippines is exploring the possibility of converting two islands that were once part of a U.S. navy base into a military reservation, its defence department said on Thursday, a move to bolster its presence in waters facing the South China Sea.Grande and Chiquita islands are located in Subic Bay, which was once a sprawling U.S. base until the Philippines rejected a lease extension in 1991.
Superior Industries, Inc., a US-based manufacturer and global supplier of bulk material processing and handling systems, announces the release of Vantage Automation version 7.2, the latest evolution of its cone crusher control platform.Designed to improve the user experience and enhance data gathering for diagnostics, v7.