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.
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.
The final inter-array cable has been installed at Îles d’Yeu and Noirmoutier (EMYN) offshore wind farm in France, being developed by Les Éoliennes en Mer Services.The 61st and final inter-array cable was installed on June 22 at the EMYN offshore wind farm, Louis Dreyfus TravOcean said on social media.The accomplishment paves the way for a transmission capacity of 512 MW.
The Maritime and Port Authority of Singapore (MPA) has been notified by the Indian authorities that 18 crew were safely transferred from lifeboats to an Indian Navy ship, which is en route to New Mangalore Port.Four crew—two from Taiwan, one from Myanmar, and one from Indonesia—remain missing. Search and rescue (SAR) operations are ongoing.
Seatrium delivered the Floating Production Storage and Offloading vessel (FPSO), BW Opal, to BW Offshore."We would like to express our appreciation to BW Offshore for entrusting Seatrium with their projects over the years," said Marlin Khiew, EVP, Energy (Americas), Seatrium. "The successful completion and delivery of BW Opal marks our 18th FPSO for BW Offshore.
Louis Dreyfus Armateurs, a 170-year-old French family-owned company operating across a broad swath of maritime and offshore energy, recently announced a shipbuilding order and fleet expansion with the order for a series of three next generation SOVs, a series that will lean on five years of experience operating some of the first Hybrid-Electric SOVs.
The seventh generation Atlantic Zonda drillship, managed by Ventura Offshore Midco, has started operations for Petrobras under a three-year drilling contract.The Atlantic Zonda is managed by Ventura Offshore through marketing and operating agreements with the rig owner, Eldorado Drilling, and the company will earn its management fees and reimbursable revenues from these agreements.
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.
Louis Dreyfus Armateurs (LDA) and InfraVia, a private equity company in Europe, have entered into exclusive negotiations for InfraVia to acquire a majority stake in LDA, a group specializing in high value-added industrial marine services.LDA currently specializes in three growing segments, transportation and logistics of industrial equipment, mainly through dedicated Ro-Ro vessels
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.
French ship owner Louis Dreyfus Armateurs (LDA) has selected SALT as the naval architect and Shanghai Zhenhua Heavy Industries Company (ZPMC) as the shipyard for the construction of three new service operation vessels (SOVs) ordered by Vattenfall.SALT, an offshore vessel designer and long-time partner of LDA, has been entrusted with the development of the new SOVs.