A container ship will depart from South Korea bound for Europe via the Arctic on Saturday, testing whether a route opened by melting sea ice can be commercially viable, but risking friction with Western allies, as the voyage requires Russian cooperation.If successful, the trip would be South Korea's first such commercial voyage to Europe via the Arctic
VARD, the Norwegian shipbuilding subsidiary of Italy's Fincantieri Group, won a contract valued at more than €220 million to design and build two next-generation buoy and lighthouse maintenance vessels for Trinity House, the General Lighthouse Authority for England, Wales, the Channel Islands and Gibraltar.
When Saudi Aramco told its oil buyers in a letter this week that it had no clear idea which port it would use for April exports, it laid bare a new reality: Iran, not the United States, holds the key to reopening the global energy market.The letter, sent to Saudi oil buyers around the world, said they might receive oil from the Red Sea, but they might still get it from the Gulf.
All-Cash Deal, Expanding Brazil FootprintTidewater Inc. (NYSE: TDW) has signed a definitive agreement to acquire Wilson Sons Ultratug Participações S.A. and its affiliate Atlantic Offshore Services S.A. (collectively, WSUT) in an all-cash transaction valued at approximately $500 million, including the assumption of existing debt.
Great Lakes Dredge & Dock Corporation and Saltchuk Resources, Inc. announced a definitive agreement for Saltchuk to acquire Great Lakes at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies
Seatrium delivered FREDERICK PAUP to Manson Construction Co. Built at Seatrium’s Brownsville Texas yard, the Jones Act-compliant vessel is the largest self-propelled hopper dredger in US history.Key highlights:Largest in the U.S. – 420’ length x 81’ beam, with a 15,000+ cubic yard hopper capacityPowerful and Agile – Self-propelled with 25,000 horsepower, triple azimuthing stern drives
Vessels owned or operated by U.S. firms and individuals - or those built in the United States or that fly the U.S. flag - will be charged additional port fees per voyage starting on October 14, China's transport ministry said.The fees are a counter-measure against upcoming U.S. port fees on Chinese ships, the ministry said on Friday.
The next generation offshore patrol vessel (OPV), featuring hybrid propulsion and wind sails, has started taking shape as the first steel is cut for the Directorate General for Maritime Affairs, Fisheries and Aquaculture (DGAMPA) vessel, designed by the SOCARENAM-MAURIC consortium.
Saudi Aramco has offered more than 4 million barrels of Saudi crude in rare tenders as the U.S.-Iran conflict disrupted exports from the Middle East, several traders said.In a tender that will close at 5 p.m. Beijing time (0900 GMT) on Monday, Aramco offered 2 million barrels of Arab Heavy crude to load at the Ain Sokhna port of Egypt.
Thailand's Gulf Energy has issued a tender seeking four to six cargoes a year of liquefied natural gas (LNG) over a 10-year period, said two industry sources on Tuesday.It is seeking the cargoes for delivery from 2028, in a tender that closes on January 19.(Reuters - Reporting by Emily Chow; Editing by Christopher
Offshore wind developers and equipment suppliers are bracing for a slowdown in business in France where a political crisis has stalled changes to the country's energy framework and government tenders.The threat of a further hit to France's economy comes after data released on Friday shows business activity declined faster than expected in October.
Norwegian offshore supply vessel owner DOF Group has secured long-term contracts for two of its vessels with Petrobras for work offshore Brazil.The contracts, with a combined value of approximately $200 million, are for Skandi Chieftain high-spec subsea vessel and Skandi Olympia DP2 construction support vessel.The vessels have been awarded four-year charters with Petrobras.