Hanwha Philly Shipyard (HPSI) and TOTE Services were selected to deliver the Missile Defense Agency’s (MDA) Missile Range Instrumentation Vessels (MRIV). TOTE Services will serve as vessel construction manager (VCM), and HPSI will build the ships at its Philadelphia shipyard.The MRIV will replace the Pacific Tracker and Pacific Collector
Introduction. Looking back at history one could argue that it was French author Jules Verne in his book “20,000 Leagues Under the Sea”, published in 1869, who was speculating about a new power source much in the same out of the box thinking that H.G. Wells employed when he wrote about inter-planetary flight in “War of the World’s.
The United States and French energy major TotalEnergies said on Monday they would redirect nearly $1 billion from offshore wind leases to U.S. oil and natural gas production.The agreement marks a new strategy in the Trump administration's wide-ranging effort to stymie development of U.S. offshore wind projects, which President Donald Trump has said he finds ugly, costly and inefficient.
HII’s Newport News Shipbuilding division is marking 140 years of service to the US today, January 28, 2026.On Jan. 28, 1886, Collis P. Huntington, a businessman whose investments enabled completion of the U.S. transcontinental railroad, turned his focus to shipbuilding, establishing what was first chartered as Chesapeake Dry Dock and Construction Co.
U.S. Transportation Secretary Sean P. Duffy announced a $665 million investment to modernize ferry infrastructure for the communities who rely on these transit systems to work and move goods.From inland waterway dock expansions to brand-new passenger ferries, the Department selected 23 projects in 14 states and the United States Virgin Islands, including: $153,406
U.S. Secretary of Transportation Sean P. Duffy was joined by Maritime Administrator (MARAD) Stephen M. Carmel, U.S. Representative Michael Cloud (TX-27) and leaders from Texas’ Port of Corpus Christi to kick off a new partnership focused on small modular reactor (SMR) technology for maritime applications. By testing the latest innovations in SMRs, the Department can help revitalize U.S.
U.S. Transportation Secretary Sean P. Duffy today announced that the Maritime Administration (MARAD) is delivering $35.1 million to invest in critical infrastructure and workforce development at 45 shipyards across 24 states and the U.S. Virgin Islands. The program received a 300% increase in funding in 2026.
Nearly 500 maritime and transportation industry leaders gathered on the evening of Wednesday, May 20, at The Lighthouse at Chelsea Piers for the sold-out 32nd International Maritime Hall of Fame Awards dinner hosted by the Maritime Association of the Port of New York and New Jersey (MAPONY/NJ).
Oil prices jumped more than 6% in early Monday trading on fears that the ceasefire between the United States and Iran could collapse after the U.S. seized an Iranian cargo ship and traffic through the Strait of Hormuz remained largely halted.Brent crude futures LCOc1 advanced $5.51, or 6.1%, to $95.89 a barrel by 0752 GMT and U.S. West Texas Intermediate CLc1 was up $5.46, or 6.5%, at $89.31.
Kuwait Petroleum Corporation began cutting oil output on Saturday and declared force majeure, adding to earlier oil and gas reductions from Iraq and Qatar as the U.S.-Iran war blocked shipments from the Middle East for the eighth consecutive day.The war has blocked the world's most important oil artery the Strait of Hormuz which is responsible for 20% of global oil and LNG supply.
Performance Shipping reported its third-quarter financial results for 2025, highlighting solid fleet performance amidst softer market conditions.For the three months ending September 30, 2025, the company posted net income of $3.9 million, a decrease from $12.4 million in the same period in 2024.
Wallem Group, a leading global maritime partner, is celebrating the centenary of moving its headquarters to Hong Kong.The celebrations will be marked by a special event on November 12, 2025 in the presence of Guest of Honour Hong Kong Finance Secretary, commemorating 100 years since the relocation—22 years after Norwegian shipbroker and agent Haakon Wallem formed Wallem & Co. in 1903.