Ocean Network Express (ONE) reported a profitable first quarter for fiscal 2026, overcoming higher fuel costs and geopolitical disruptions through strong cargo demand, disciplined capacity management and rising freight rates, while continuing to invest in fleet modernization under its long-term ONE2030 strategy.
Norwegian maritime technology company Kongsberg Maritime has agreed to acquire Swedish propulsion specialist Berg Propulsion in a move aimed at expanding its marine propulsion portfolio and strengthening its position across a wider range of vessel segments.Financial terms of the transaction were not disclosed
A record wave of global investment in new ships is translating into sustained growth for Germany's marine equipment industry, with suppliers reporting rising revenues, strong order books and growing optimism despite mounting geopolitical and competitive pressures.According to the latest industry survey from VDMA, Germany's maritime supplier sector posted average revenue growth of 5.
DEME, through its Japanese joint venture Japan Offshore Marine (JOM), has secured a contract for the Oga–Katagami–Akita Offshore Wind Project, covering engineering work and vessel charter services for the offshore installation of 21 wind turbines.The contract forms part of an agreement between Oga Katagami Akita Offshore Green Energy and Penta-Ocean Construction.
In the world of large cruise ship construction, few yards operate at the level of Meyer Turku, which recently unveiled its 2025 results which serve as a turning point, not just in financial recovery, but in long-term strategic positioning.The numbers, at first glance, tell a familiar post-pandemic story. Turnover climbed to €2.
Swan Defence and Heavy Industries (SDHI) has signed its first newbuild contract for six IMO Type II chemical tankers, marking a milestone for India’s commercial shipbuilding sector and the country’s first chemical tanker order placed with a domestic shipyard.The contract, valued at $227 million, was awarded by European shipowner Rederiet Stenersen AS and covers six 18
Singapore-based engineering group Seatrium has reported strong execution in the third quarter ended September 30, 2025, bolstered by major offshore and wind project deliveries, a high-value order book and strategic asset sales.The group’s net order book stood at about $12.8 billion (S$16.6 billion), covering 24 projects slated for delivery through 2031.
The Trump administration will hold an auction for drilling oil and gas off the U.S. Gulf next month and has proposed another in a waterway in southern Alaska, it said on Friday.The lease sale in the U.S. Gulf of Mexico, which President Donald Trump refers to as the Gulf of America, will make about 80 million acres available.
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.
Japan's second-largest shipping company Mitsui O.S.K. Lines wants to tie up with Indian companies to build tankers in India, aiding the South Asian nation's effort to boost local manufacturing, its chief executive, Takeshi Hashimoto said.New Delhi is modernizing its maritime laws to allow foreign participation in the sector, including ship-building, ports and shipyards
New Wave Media, a leading B2B media company serving the global maritime, offshore energy, subsea and logistics sectors, acquired the Port of the Future Conference & Exhibition, a premier international symposium known for its focus on advancing port infrastructure, technology, and policy.
Yinson Production, via its joint venture PTSC South East Asia (PTSC SEA), has secured a lease and operate contract for a new floating storage and offloading (FSO) unit for Vietnam’s offshore Block B gas development.The contract was awarded by Phu Quoc Petroleum Operating Company (PQPOC), the operator of Blocks B 48/95 and 52/97, on behalf of state-run Petrovietnam.