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.
While global energy markets are not yet pricing in worst-case scenarios for the Israel-Iran war, oil tanker rates are providing a good real-time gauge of the escalating risks.Geopolitical risk has spiked following Israel's surprise bombardment of the Islamic Republic last Friday and Iran's retaliatory ballistic missile strikes, leading to a rally in global energy prices
China has flexed its muscles this month by sending an unusually large number of naval and coast guard vessels through a swathe of East Asian waters, according to security documents and officials, in moves that have unnerved regional capitals.Since early May, China deployed fleets larger than usual, including navy, coast guard and other ships near Taiwan
Chinese cruise operators are scrambling to avoid Japanese ports as Beijing and Tokyo engage in a diplomatic dispute, which is expected to spur demand for tourism in South Korea, according to sources and cruise schedules reviewed by Reuters.Tour and port agents said tensions, sparked by recent remarks from Japan's new prime minister
There hasn’t been an invasives species introduced to the Great Lakes from ballast water since 2006. So, what’s the problem now?As far as Transport Canada is concerned: “Scientific sampling to date consistently shows that ballast water management systems (BWMS) used in the Great Lakes reduce organism densities in ballast water discharges by over 99%, consistent with global evidence.
A joint team from HII, Woods Hole Oceanographic Institution (WHOI), and the U.S. Navy’s Naval Undersea Warfare Center Division Newport (NUWC Division Newport) has successfully completed the first recovery of a second-generation REMUS 620 into a Virginia-class submarine torpedo tube and shutterway test fixture at Seneca Lake, New York.
In the shadow of the Taiwan Strait, a new chapter in asymmetric naval warfare is unfolding. Drawing lessons from Ukraine’s strategic use of maritime drones in the Black Sea, Taiwan is adapting similar technologies as a low-cost, high-impact defense against an increasingly assertive Chinese Navy.
South Korea has deployed a large stationary floating platform in a disputed section of the Yellow Sea, escalating tensions with China over a contested maritime zone where both countries' exclusive economic zones (EEZs) overlap. The move, described by Seoul as a "reciprocal measure," comes in response to a growing Chinese presence in the area
China is deploying a large number of naval and coast guard vessels across East Asian waters, at one point more than 100, in the largest maritime show of force to date, according to four sources and intelligence reports reviewed by Reuters.China is in the middle of what is traditionally a busy season for military exercises
China's Foreign Ministry said on Thursday (April 24) that its structure in disputed waters is a legitimate fishery breeding facility and compliant with both domestic and international law.The South Korean government had earlier expressed "deep concern" over China erecting a sea structure off the west coast of the Korean Peninsula, Seoul's foreign ministry said on Thursday.
South Korea will raise China's construction of sea structures off the west coast of the Korean Peninsula in a dialogue with Beijing on Wednesday, Seoul's Foreign Minister said.China has built structures in a disputed area of the Yellow Sea, known in Seoul as the West Sea, causing South Korea to set up a "reciprocal" platform, Seoul has previously said.
Nearly 20,000 live animals, all endangered or protected species, have been seized in a global operation against wildlife and forestry trafficking networks, jointly coordinated by INTERPOL and the World Customs Organization (WCO).Operation Thunder 2024 (November 11 – December 6) brought together police, customs, border control, forestry and wildlife officials from 138 countries and regions