Towage Giant Delivers Record Results, Eyes Global Expansion
SAAM closed 2025 with record financial performance, underscoring the continued strength of its harbor towage business across the Americas while positioning the company for further international expansion. For a company that has spent the past several years reshaping its business model and sharpening its strategic focus, the results signal both operational momentum and growing scale in the global tug market.The Chile-based maritime services provider reported net income of $80.4 million for 2025…
ZIM Navigates Cooling Container Markets, Hapag-Lloyd Deal Looms
The container shipping sector continued its gradual normalization in 2025, and ZIM Integrated Shipping Services’ latest financial results offer a clear snapshot of the industry’s transition away from the extraordinary profits generated during the pandemic-era freight surge.For the full year 2025, the Israeli liner carrier reported revenue of $6.9 billion, down from $8.4 billion in 2024 as freight rates softened across major trade lanes.
Shipowners to Lead Maritime Transformation Talks at APM 2026
The transition towards digitalisation and automation is speeding up in the maritime industry, and a comprehensive strategy is emerging to turbo-charge efficiency, safety and sustainability. Yet key questions remain about the adoption of technologies and solutions to enhance operational performance, future-proof fleets while remaining commercially competitive, and ultimately realise the zero-emission goal.
Fairplay Towage Joins Tug Network Team as Alliance Expands into Europe
Tug Network Team (TNT), an alliance of independent towage operators launched in the Americas in 2024, has expanded into Europe with the addition of Fairplay Towage.The move increases the alliance’s presence to 113 ports across 13 countries with a combined fleet of more than 200 tugboats.TNT was initially formed by Group Ocean, Sulnorte and CPT Towage to strengthen regional cooperation among independent…
Semco Maritime, Zamakona Form Las Palmas Shipyard Alliance
Semco Maritime and Zamakona Yards have formed a strategic alliance to establish Las Palmas Shipyard, a new hub for rig upgrades, vessel maintenance and offshore modification projects in the Canary Islands.The partnership combines Semco Maritime’s engineering and project execution expertise with Zamakona’s shipyard infrastructure and marine services capabilities. Operations at the Las Palmas facility have already begun.The shipyard is designed to support rig owners…
MOL Enters European Offshore Wind CSOV Market
Mitsui O.S.K. Lines (MOL) has agreed to jointly own two commissioning service operation vessels (CSOVs) with Cyprus-based shipping company Schoeller Holdings, marking the Japanese company’s first entry into the European offshore wind support vessel market.The vessels are scheduled for delivery in 2027. MOL has also decided to invest in Germany-based offshore vessel developer and operator Deutsche Offshore Schifffahrt (DOS)…
Bahrain’s Bapco Declares Force Majeure After Refinery Attack
Bapco Energies has declared force majeure on its group operations following the impact of the ongoing regional conflict in the Middle East and a recent attack on its refinery complex.The Bahrain-based integrated energy company said the declaration applies to operations affected by the incident.Despite the disruption, the company said local fuel supply remains secure and that domestic demand continues to be met through contingency plans already in place.According to reports…
Governments Move to Shield Economies as Oil Jumps 25%
Governments scrambled to limit the impact on economies and consumers from the widening Iran war, which fuelled a record surge in oil prices on Monday after key producers cut output and Tehran signalled that hardliners would remain in charge.In a sign of mounting governmental concern over supply disruptions, the Group of Seven finance ministers will discuss the possibility of a joint release of emergency oil reserves in a meeting on Monday…
Aramco Launches Rare Oil Tenders as Iran War Disrupts Exports
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.The loading date, subject to confirmation, is from March 10 to March 30, according to a tender document shared by the traders.
Kuwait Declares Force Majeure, Cuts Oil Output Amid Gulf War
Kuwait Petroleum Corporation began cutting oil output on Saturday and declared force majeure, adding to earlier oil and gas reductions from Iraq and Qatar as the U.S.-Iran war blocked shipments from the Middle East for the eighth consecutive day.The war has blocked the world's most important oil artery the Strait of Hormuz which is responsible for 20% of global oil and LNG supply. Analysts predict…
US-Israel War with Iran Sends Oil Above $100
The dollar surged on Monday as soaring oil prices sent investors scrambling for cash on worries that a protracted Middle East war could severely disrupt energy supplies and hurt global growth.Against the surging greenback, the euro EUR= and sterling GBP= were down roughly 1% in Asia, while the Aussie AUD= and even the safe-haven Swiss franc CHF= similarly tumbled, as the dollar proved king."The U.S.
AYK Energy to Supply Polarstern Battery
AYK Energy has secured a contract to supply the largest battery ever installed on an ice class vessel for Germany’s next generation polar research ship Polarstern.The partnership for the new diesel-electric vessel currently under development for the Alfred Wegener Institute has been signed directly with Wärtsilä.The AYK Energy Pisces+ battery system, with a capacity of 16 megawatt-hours (MWh) and weighing 131 tonnes, will be delivered in 2028.
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