Saronic accelerates its growth into autonomous shipbuilding with the acquisition of Gulf Craft, a Louisiana-based shipbuilder with a 60-year history of developing manned and unmanned ships for defense and commercial customers.Through this acquisition, Saronic gains a strategically located shipyard on the Gulf Coast that will serve as the prototyping and production hub for its medium unmanned
The United States expanded sanctions against Iran's petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said.The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran's economy with the aim of denying the government funds to support its nuclear and missile programs.
Imports of liquefied natural gas (LNG) from Russia at the Netherlands' main terminal in Rotterdam have risen in recent months, underlining the need for further sanctions, the Dutch government said on Monday.Imports of Russian LNG at the GATE terminal in Europe's largest sea port have increased in the third quarter
Harland & Wolff said on Monday it plans to appoint administrators in the coming days as the company known for building the Titanic struggles with a debt crisis.The Belfast-based shipbuilder, which survived closure once in 2019, said it would cut jobs in its non-core and certain central support areas, without specifying the number of roles affected.
Offshore drilling contractor Seadrill is looking to buy more assets or create a larger player by merging with peers, the company's CEO said on Wednesday.Norwegian-born billionaire John Fredriksen lost the control of the company, once the world's largest driller by market cap, to its creditors over two debt restructurings since 2014.
Turkish holding company Yilport will invest an expected $1.62 billion to expand two ports in El Salvador and operate them jointly with the local port authority, the government of the Central American country said.Salvadoran President Nayib Bukele, in a post on X on Sunday evening, said the investment is part of his broader economic revitalization plan.
A Chevron-chartered oil tanker seized by Iran more than a year ago has dropped anchor near the United Arab Emirates port of Khor Fakkan, ship tracking data showed on Monday.The Marshall Islands-flagged Advantage Sweet was boarded by Iran's military in the Gulf of Oman in April 2023 after an alleged collision with an Iranian boat.
A Chinese radio station on Monday started broadcasts on Arctic sea ice conditions off Russia's coast for vessels sailing the Northeast Passage, as China seeks to further utilise the world's northernmost routes as alternatives to the Suez Canal.Arctic sea routes are increasingly being used as an alternative global trade route connecting the Pacific Ocean and Atlantic Ocean to major economies as
The first liquefied natural gas (LNG) tanker since January is sailing through the Red Sea, just days after Yemen-based Houthi militants sank their second vessel in attacks begun last November.The vessel, Asya Energy, passed Yemen, travelling through the Bab al-Mandab Strait on Tuesday, shiptracking data from LSEG and Kpler showed
OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production.Brent crude oil prices LCOc1 have been trading near $80 per barrel in recent days, below what many OPEC+ members need to balance their budgets.
A global maritime court found on Tuesday that greenhouse gases constitute marine pollution, a major breakthrough for small island states threatened by the rise in sea levels caused by global warming.In its first climate-related judgment, the International Tribunal for the Law of the Sea said emissions from fossil fuels and other planet-warming gases that are absorbed by the oceans count as
Sweden is investigating a possible breach of an undersea cable off the country's southwestern coast in the Baltic Sea, the coastguard said on Friday, in an area where multiple seabed cables have been damaged in recent months.The Baltic Sea region is on alert and the NATO alliance has boosted its presence after a series of power cable