U.S. Shipbuilding Plots the Path Ahead
The military and Coast Guard budgets are established that will benefit the U.S. ship building and repair sector, but what will stimulate the commercial yards?This author has been scratching his head of late, after a thrilling dive into July’s U.S. Big Beautiful Bill Act, and has asked several colleagues where the funding for support commercial shipbuilding can be found? To answer that, we need to look…
Two CK Hutchison-Operated Ports Near Panama Could See State Partnerships Take Over
Public-private partnerships could take over two key ports near the Panama Canal if courts invalidate a contract with Hong Kong-based CK Hutchison's to operate them, Panama's President Jose Raul Mulino said on Thursday.CK Hutchison holds a 90% stake in the local Panama Ports Company, which had a 25-year concession to operate the Balboa and Cristobal ports, located at both ends of the canal, renewed in 2021.The contract has been at the center of a dispute since U.S.
Norwegian Cruise Maintains Profit Forecast, Bookings Rebound
Norwegian Cruise Line Holdings signaled a demand rebound for its cruise vacations and maintained its annual profit target, sending its shares up 12% on Thursday.The company had earlier warned that geopolitical tensions and economic uncertainty around tariffs had weakened consumer spending on its premium vacations, particularly for its longer itineraries in Europe.The 12-month forward booked position was ahead of historical levels in recent months after having softened in early April, while on-bo
Fincantieri Launches “Viking Mira” Cruise Ship
The “Viking Mira," a new cruise ship under construction for Viking, was launched at the Ancona shipyard. The ship is scheduled to debut in spring 2026, offering itineraries in the Mediterranean and Northern Europe.The ceremony, which marks the ship’s transition to the final outfitting phase, was attended by Gilberto Tobaldi, Director of the Ancona Shipyard, and Gastone Lazzari, New Building Site Team Manager for Viking.With a gross tonnage of approximately 54…
Shipbuilding Played An Important Role in 15% Tariff onSouth Korea
South Korea's shipbuilding industry played "the most important role" in securing an agreement with the U.S. on tariffs, an analyst said on Thursday (July 31).President Donald Trump said on Wednesday (July 30) the U.S. will charge a 15% tariff on imports from South Korea, down from a threatened 25%, as part of a deal that eases tensions with a top-10 trading partner and key Asian ally.“The shipbuilding sector is exactly the area where South Korea and the U.S.
HII Reports Q2 2025 Results
Huntington Ingalls Industries, America’s largest military shipbuilder and a global defense technology provider, announced its second-quarter 2025 financial results, highlighting robust cash generation, strategic progress in AI-driven shipbuilding, and a record backlog of $56.9 billion.Q2 2025 Highlights:Revenue: $3.1 billion, up 3.5% YoYNet Earnings: $152 million, or $3.86 diluted EPSFree Cash Flow: $730 million, vs.
d’Amico International Shipping Shares 1H, 2Q Results
d’Amico International Shipping S.A., an international operator in the product tanker sector, announced its financial results for Q2 and H1 2025. Despite market normalization following last year’s record highs, DIS achieved solid profitability and maintained its strong financial position.Financial Highlights (H1 2025 vs H1 2024):Net Profit: US$ 38.5 million (vs USD$122.9 million)Time Charter Equivalent…
Nexans, Crowley Wind Services to Build Cable Lay Barge for US Ops
French subsea power cable maker and services provider Nexans has formed partnership with Crowley Wind Services to develop and operate a Jones Act compliant cable lay barge. The cable lay barge will be dedicated to supporting the installation of subsea transmission lines necessary for offshore wind energy, telecommunications and other major industrial applications.The 300-foot, U.S.-flagged vessel, built in Louisiana and tested in the U.S.
As China's Economy Slows, So Too Does Dry Bulk Shipping
“We estimate the dry bulk supply/demand balance to weaken in both 2025 and 2026, compared to 2024. Demand growth is expected to slow, impacted by a weaker economic outlook for China and the world and a shift in US trade policy,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.The rise in tariffs and the start of trade negotiations by the US have introduced additional uncertainty and are directly impacting 4% of global dry bulk tonne mile demand.
BSM Launches Methanol Bunkering Simulator
As the global shipping industry accelerates toward decarbonization, Bernhard Schulte Shipmanagement (BSM) has unveiled its first methanol bunkering simulator at its Maritime Training Center in Kochi, India. Developed in partnership with Wärtsilä, the new platform is designed to give seafarers hands-on training for safely handling methanol, one of the leading alternative fuels driving maritime’s low…
Fincantieri Delivers Multi-Purpose Frigate to Italian Navy
Fincanteri has delivered the multi-purpose frigate Emilio Bianchi to the Italian Navy, the tenth FREMM-class vessel to be completed under the European Multi-Mission Frigate program.The frigate was commissioned from Orizzonte Sistemi Navali under the Italian-French international cooperation agreement, the contract for which was stipulated with OCCAR (Organisation Conjointe de Coopération en matière…
DHT Secures Post-Delivery Finance for VLCCs
Tanker company DHT Holdings, Inc. has entered into a $308.4 million senior secured credit facility for the post-delivery financing of the company’s four newbuildings.The vessels are currently under construction at Hyundai Samho Heavy Industries and Hanwha Ocean, in South Korea and are scheduled for delivery during the first half of 2026.The facility is co-arranged by ING Bank and Nordea Bank Abp, with ING Bank as Coordinator, Facility Agent, Security Agent and ECA Agent.
Hydrofoiling Ferry Could Prevent Seasonal Travel Disruption at Isles of Scilly
Artemis Technologies is leading a feasibility study on the establishment of a new ferry service between Newlyn in Cornwall and St Mary’s in the Isles of Scilly, around 30 miles off the southwestern tip of Cornwall, England, in the Atlantic Ocean.The study will assess the technical and commercial viability of deploying the Artemis EF-24 Passenger, a 100% electric, high-speed hydrofoil ferry, to provide a reliable…
US Cancels Designated Wind Energy Areas
The US Bureau of Ocean Energy Management (BOEM) has rescinded all designated Wind Energy Areas (WEAs) on the U.S. Outer Continental Shelf (OCS).BOEM says the action is being taken in accordance with Secretary’s Order 3437 - Ending Preferential Treatment for Unreliable, Foreign Controlled Energy Sources in Department Decision-Making – and the Presidential Memorandum of January 20, 2025 – Temporary Withdrawal…
US Hits Iranian Shipping Network with New Sanctions
The U.S. Treasury Department announced fresh sanctions on Wednesday on over 115 Iran-linked individuals, entities and vessels, in a sign the Trump administration is doubling down on its "maximum pressure" campaign after bombing Tehran's key nuclear sites in June.The sanctions broadly target the shipping interests of Mohammad Hossein Shamkhani, the son of Ali Shamkhani, who is himself an adviser to Supreme Leader Ayatollah Ali Khamenei. The U.S.
Panama Auditor Files Suit to Scrap CK Hutchison-Controlled Port Contract
Panama's comptroller general, Anel Flores, said on Wednesday he had filed suit to the nation's Supreme Court against a contract to operate ports near the Panama Canal, held by a local firm controlled by Hong Kong-based CK Hutchison.Flores said the two suits were to declare the unconstitutionality and to nullify the contract to operate the Balboa and Cristobal ports. The Supreme Court would still need…
KIMM, Natural Resources Canada Sign MoU on Clean Technology Cooperation
The Korea Institute of Machinery and Materials (KIMM), under the National Research Council of Science & Technology (NST), signed a Memorandum of Understanding (MoU) with Natural Resources Canada (NRC) to establish a new platform for international collaboration in sustainable resource technologies and support the strategic expansion of KIMM’s global R&D network.The MoU outlines collaboration in the following areas:Joint research on ammonia recovery and removal technologies…
St. Johns Ship Building Delivers Second Crew Transfer Vessel For Offshore Wind Projects
St. Johns Ship Building, a Florida-based Jones Act facility owned by Americraft Marine, has announced the successful delivery of the Atlantic Endurance, the second of two Chartwell Ambitious-Class Crew Transfer Vessels (CTVs) ordered by Atlantic Wind Transfers. The delivery follows the recent handover of the Atlantic Resolute and brings the total number of CTVs delivered by St. Johns Ship Building within an eighteen-month period to five.
London P&I Club Warns of Incorrect Loading of Flexible Intermediate Bulk Containers
The London P&I Club has renewed calls on ship owners, operators and charterers to address potential risks when loading Flexible Intermediate Bulk Containers (FIBCs) containing dry chemicals. The warning follows a number of incidents reported across the industry including hold fires and cargo damage in bulk carriers and general cargo ships. The issue is particularly common with vessels loading in Chinese ports.Claims resulting from the incorrect storage and handling of FIBCs…
Fincantieri Reports Record €57.7B Shipbuilding Backlog
Fincantieri reported a sharp rise in first-half 2025 results, with growth across all segments and a record order backlog that solidifies its position as one of the world’s leading shipbuilders.Revenues reached €4.58 billion, up 24% from the same period in 2024, while EBITDA surged 45% to €311 million, lifting the margin to 6.8%. The company swung to a net profit of €35 million, compared to a loss of €27 million in the first half of 2024.New orders totaled €14.7 billion…
