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.
By Captain Bobbie Scolley, U.S. Navy (ret.) and Rear Admiral Tim Gallaudet, U.S. Navy (ret.)For more than six decades, spanning from 1905 to the late 1970s, the U.S. Navy’s diving apparatus for deep ocean operations and salvage remained fundamentally unchanged. During this period, the demographic of navy divers also saw little alteration.
Colonna’s Shipyard is a fifth-generation, family-owned medium-sized shipbuilder, led by Randall Crutchfield, Chairman & CEO, today. Founded in 1875 by 26-year-old ship carpenter Charles J. Colonna with a $2,000 loan from his brother, he founded a company that has not only withstood the test of time
Rescuers pulled six crew members alive from the Red Sea after Houthi militants attacked and sank a second ship this week, while the fate of another 15 was unknown after the Iran-aligned group said they held some of the seafarers.The Houthis claimed responsibility for the assault that maritime officials say killed four of the 25 people aboard the Eternity C before the rest abandoned the cargo ship.
Rescuers pulled six crew members alive from the Red Sea on Wednesday and 15 were still missing from the second of two ships sunk in recent days in attacks claimed by Yemen's Iran-aligned Houthi militia after months of calm.Four of the 25 people aboard the Eternity C cargo ship were killed before the rest of the crew abandoned the vessel
Four seafarers on the Liberian-flagged, Greek-operated bulk carrier Eternity C were killed in a drone and speedboat attack off Yemen, an official with knowledge of the issue said on Tuesday, the second incident in a day after months of calm.The Red Sea, which passes Yemen's coast, has long been a critical waterway for the world's oil and commodities but traffic has dropped since the Iran-aligned
A Greek-operated bulk carrier, Magic Seas, sustained severe damage in a multi-pronged attack off the coast of Yemen on Sunday, believed to have been carried out by Houthi militants. All 19 crew members aboard were safely rescued and are expected to arrive in Djibouti later Monday, according to the ship’s operator, Stem Shipping.
The prospect of a large scale return of container ships to the Red Sea following the announcement of a ceasefire between the US and Houthi militia in Yemen would flood the market with shipping capacity and cause a global collapse in freight rates, but the situation remains far from certain.
On World Donkey Day (May 8), international animal welfare charity, The Donkey Sanctuary, acknowledges Swire Shipping as the first global shipping line to commit publicly to a ‘No Donkey Skins Carriage policy’.In February last year, African Heads of State and Governments endorsed a continent-wide moratorium on the slaughter of donkeys for their skins at the 37th African Union Summit.
The White House is weighing an executive order that would fast-track permitting for deep-sea mining in international waters and let mining companies bypass a United Nations-backed review process, according to two sources with direct knowledge of the deliberations.If signed, the order would mark U.S.
The crew of the Hong Kong-flagged ASL Bauhinia have abandoned the container ship in the Red Sea after it caught fire on Tuesday, two maritime sources said, adding the cause of the incident was not immediately clear.The crew were rescued by another vessel and are safe, the sources said, adding that the incident took place in the open sea off Yemen.
Two of the world's top shipping companies, Maersk and Hapag-Lloyd, said on Thursday they did not see an immediate return to Red Sea after the ceasefire between Hamas and Israel was announced.Both companies said they would be closely monitoring the situation in the Middle East and would return to the Red Sea once it was safe to do so."The agreement has only just been reached.