President Donald Trump's administration said on Monday that it had reached a deal to end two more U.S. offshore wind leases in exchange for $885 million in pledged investments in domestic fossil fuels.The projects, one in the Atlantic and one in the Pacific, are managed by Ocean Winds, a joint venture between France's ENGIE and Portugal's EDP Renewables.
When we interviewed Saronic Co-Founder and CEO Dino Mavrookas late last year, he insisted that Saronic's mission was to deliver commercially viable autonomous vessels first, and in turn parlay that into a ready package for defense. That vision comes to fruition as Saronic announced a partnership with Hornbeck Offshore Services, Inc.
As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers.
On April 30, Senator Mark Kelly (D-AZ), together with several original co-sponsors, reintroduced the SHIPS for America Act in the U.S. Senate, first introduced in December 2024, divided into two bills. Companion legislation was also introduced in the U.S. House of Representatives by Rep. Trent Kelly (R-MS) and Rep. John Garamendi (D-CA). This is a major, historic effort to revitalize the U.S.
“Never before have we witnessed such comprehensive alignment between Republicans and Democrats, industry, and organized labor for rebuilding our great nation’s maritime industry.”Arizona Senator and U.S. Merchant Marine Academy alum Mark Kelly (D-AZ) and Representative John Garamendi (D-CA-08) published an op-ed in Fox News highlighting the momentum to rebuild the U.S.
Helix Energy Solutions and Hornbeck Offshore Services have agreed to combine in an all-stock transaction to create an integrated offshore services company.Under the agreement, Hornbeck shareholders will own about 55% of the combined company, while Helix shareholders will hold around 45%.
On Wednesday, April 22, 2026, the Great Lakes Maritime Task Force (GLMTF) recognized Indiana Senator Todd Young for his commitment to the Great Lakes Navigation System and the nation’s maritime revitalization.“Senator Young understands the importance of U.S. shipping on the Great Lakes with interconnected harbors that depend on each other and a healthy maritime highway.
Marine Group Boat Works (Marine Group), a full-service shipyard based in San Diego, won a Navy Grant to establish a maritime welding program designed to expand the skilled labor workforce supporting the U.S. Navy’s growing shipbuilding and repair demands. Marine Group was awarded this grant because it addresses workforce constraints by increasing the number of highly skilled welders certified to
MISC and China Offshore Engineering & Technology Company have received the Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for their design of an ammonia floating production storage and offloading (FPSO) vessel.This innovative floater solution adapts proven onshore production technology for offshore operations
Five U.S. unions are calling on lawmakers to pass legislation that would help secure long-term funding to revive domestic shipbuilding, an effort championed by President Donald Trump and boosted by new port fees on Chinese ships.The United States on October 14 is slated to begin collecting fees on China-linked vessels that visit the nation's seaports. While final rules from the U.S.
Mitsui O.S.K. Lines (MOL), HD Korea Shipbuilding & Offshore Engineering (HD KSOE), and HD Hyundai Heavy Industries (HHI) have secured an Approval in Principle (AiP) from Lloyd's Register for Floating Ammonia Cracker Unit (FACU), jointly developed by the group for onshore hydrogen supply.
Hanwha Group has announced a $5 billion infrastructure plan for Hanwha Philly Shipyard as part of South Korea’s commitment to supporting growth of the U.S. shipbuilding industry through a $150 billion investment fund.The $5 billion program will be dedicated to the installation of two additional docks, and three quays to increase capacity.