St. Catharines, Ontario–based Algoma Central Corporation (TSX: ALC) reported a solid third quarter for 2025, marked by fleet milestones, steady revenue growth across segments, and ongoing investment in next-generation vessels.For the quarter ended September 30, Algoma posted revenue of C$228 million, up from C$205 million a year earlier, and EBITDA of C$89.7 million, a 19% increase year-over-year.
Stena Line strengthened its position in the Baltic Sea by acquiring NLC Ferry Ab Oy/Wasaline and taking over operations of the ferry route between Umeå in Sweden and Vaasa in Finland.“It is with great joy and enthusiasm that we at Stena Line take on the responsibility for Wasaline and the route between two important regions and cities, Umeå and Vaasa,” says Niclas Mårtensson, CEO of Stena Line.
ABS and Persona AI inked an MOU to develop inspection technologies for Persona AI’s humanoid robot platform deployment in shipyards. Humanoid robots are suited to operate in shipyards designed for human workers, offering flexibility and mobility in complex, confined, or ergonomically challenging spaces.
U.S. Transportation Secretary Sean P. Duffy has announced that the Maritime Administration (MARAD) has awarded $8.75 million in grants to revitalize U.S. shipyards and advance America’s maritime dominance.The funding is part of the Small Shipyard Grant program, which supports advanced training, workforce development and new technologies that strengthen U.S. shipbuilding and repair capabilities.
At the 163rd ABS Annual Members Meeting, the classification society says it has never been stronger, with substantial growth and leading safety performance reported. Key numbers in 2004 included the fleet growing to 300 million gross tons, giving it pole position in global class in global new order share with 22 percent.
Eastern Shipbuilding Group (ESG) has officially begun construction on the U.S. Army Corps of Engineers' (USACE) new medium class hopper dredger with a ceremonial steel-cutting event.The vessel is being built at ESG's Allanton and Port St. Joe facilities and is scheduled for delivery in 2027.ESG is collaborating with Royal IHC on the design.
The Dutra Group, a California-based heavy civil marine contractor, has issued a notice to proceed to Eastern Shipbuilding Group (ESG) for the construction of a 10,464 cubic yard trailing suction hopper dredge, named Adele.The ship will be constructed at ESG's Allanton and Port St. Joe facilities. Delivery is scheduled for late 2028.
[The following are exerpts and paraphrasing from testimony given by Matthew O. Paxton, President of the Shipbuilders Council of America (SCA), to Congress on the morning of February 26, 2025.]While maritime strength and shipbuilding historically have been a cornerstone of global power, shifting times and geopolitical pressures impact readiness and output.
Energy services firms Saipem and Subsea7 have reached an agreement on the key terms for possible merger of the two companies under one unit to be named Saipem7, whose combined backlog would be over $45 billion.Saipem and Subsea7 shareholders will own 50% each of the share capital of the combined company, whose revenue is expected to be around $20.
The domestic passenger vessel answers the call for cleaner and more efficient platforms. It is truly an electric time to be a part of this niche industry.In the shadow of a rapidly changing political landscape, the domestic passenger ferry sector is nevertheless seeing an increasing number of newbuild vessel orders.
A Russian cargo ship that ran into trouble on Monday in the Mediterranean Sea and later sank was rocked by a series of three explosions in "an act of terrorism," state news agency RIA cited the vessel's owner as saying on Wednesday.Russia's Foreign Ministry said on Tuesday that the "Ursa Major," built in 2009
A Russian cargo ship called Ursa Major sank in the Mediterranean Sea after an explosion ripped through its engine room and two of its crew are still missing, the Russian Foreign Ministry said on Tuesday.The vessel, built in 2009, was controlled by Oboronlogistika, a company that is part of the Russian Defence Ministry's military construction operations