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.
The bipartisan, bicameral bill will fuel U.S. economy, strengthen national security by responding to China’s threat over the oceans. Currently, the number of U.S.-flagged vessels in international commerce is 80; China has 5,500.Today, Senator Mark Kelly (D-AZ), Senator Todd Young (R-IN), Representative John Garamendi (D-CA-8)
Danos acquired substantially all assets of Panel Specialists Inc, expanding its technical services in automation and panel fabrication. The move also strengthens Danos’ pressure valve repair services by adding VR and T/O certifications from the National Board of Boiler and Pressure Vessel Inspectors.
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.
On July 31, 2025, President Trump signed an Executive Order (“E.O.”) modifying reciprocal tariffs that became effective on August 7, 2025. Some aspects of the impact are well understood such as increased tariff burden on importers ranging from 10% to over 40%. Still, other aspects of the practical effect and its knock-on effects for shipping are relatively novel.
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.
Danos Operations Services has been awarded a contract to provide production services for Beacon Offshore Energy’s new deepwater facility, the Shenandoah floating production system (FPS). The project will employ production operators, instrumentation and electrical technicians, mechanics, and offshore installation managers. Several employees began work on the platform in 2024.
Domestic U.S. shipping interests are closely monitoring a United States Trade Representative (“USTR”) proposal for import and export trades involving Chinese vessels. There is an ongoing Section 301 investigation prompted by domestic industry concerns about China’s industrial ambitions in sectors that are critical to U.S. economic and national security.
President Donald Trump's administration is considering a proposal to create an international shipping registry in the U.S. Virgin Islands as part of efforts to enlarge the tiny commercial shipping fleet flying the American flag, according to four sources familiar with the matter.Increasing the number of U.S.
Reproduced Courtesy NH JournalThere has been a lot of discussion in New Hampshire lately about the effectiveness of a pro-American law that has been providing national and economic security for the United States for many years. I want to provide some stakeholder’s perspective and perhaps add some context as to how this issue relates to New Hampshire.
Dinnteco America, aleader in lightning protection technology, announced today its latest solution for the marine, military, energy and transportation industries – the Electromagnetic Charge Compensation Device (DDCE).The DDCE is designed to prevent direct lightning strikes by gathering positive charges from its immediate environment, while also gathering negative charges from the clouds and air.