Altech Introduces New Pluggable Terminal Block Range
Altech Corporation has introduced a line of pluggable terminal blocks that enable simple and fast installations, field wiring and equipment test setups.These compact, pluggable terminal blocks combine accurate, secure wire connections with simplicity and time savings.Pluggable terminal blocks are a truly hybrid technology, combining the security of a spring clamp connection with a plug connection toā¦
Due Diligence Required as More Biofuel Feedstocks Used
NorthStandard has published a new white paper focusing on the accelerating adoption of biofuels in commercial shipping. āBiofuels ā Driving the green transitionā brings together insights from NorthStandard, supplier World Fuel and leading testing agency Veritas Petroleum Services (VPS), in a unique discussion document outlining biofuel uptake, potential issues and loss prevention measures. Many owner-operators who seek a drop-in solution to drive maritime decarbonization choose biofuel blends.
Everllence Develops Hydrogen-Capable 4-Stroke Test Bench
A research-engine test bench at Everllenceās Augsburg site has been upgraded to enable hydrogen combustion.The new development occurred under the umbrella of the HydroPoLEn project, an Everllence partnership with industry leaders and research institutes. The project is supported by funding from the German Federal Ministry for Economic Affairs and Energy within the framework of the Maritime Researchā¦
IMO Secretary-General Visits NYK Training Center
On February 18, as part of the official engagements with maritime stakeholders in the Philippines, Arsenio Antonio Domínguez Velasco, secretary-general of the IMO, visited NYK-Fil Maritime E-Training Inc. (NETI) and NYK-TDG Maritime Academy (NTMA), the NYK Groupās training center and maritime academy in the Philippines.The visit included a tour of NETIās advanced simulator facilities, showcasing cutting-edge maritime education and training technologies that support global shipping operations.
BOEM Advances Leasing Process for Offshore California
The U.S. Bureau of Ocean Energy Management has announced its intent to prepare a programmatic environmental impact statement for proposed oil and gas lease sales in the Northern, Central and Southern California Planning Areas of the Outer Continental Shelf.This marks the initial step under the National Environmental Policy Act which initiates the process to analyze a representative California leaseā¦
Russia Aims to Maintain Urals Oil Exports to China
Russia will aim to keep its Urals crude oil exports steady in March by boosting shipments to China as India, a key buyer, cuts purchases following a trade deal with the U.S.Export options for seaborne Urals cargoes are set to narrow next month, with India expected to sharply reduce intake. Suppliers are turning to China, the world's top crude importer, as Turkey - the third-largest Urals buyer - lacks the capacity to process more Russian barrels.In the current marketā¦
Rates for Mideast-Asia Oil Tanker at Highest Since 2020
The cost of hiring a supertanker from the Middle East to China exceeded $200,000 a day on Thursday for the first time since 2020 as the threat of U.S. attacks on Iran grows and buyers seek to lock in oil cargoes, according to data and market sources.Iran pledged to show flexibility at indirect talks with Washington on their longstanding nuclear dispute on Thursday, with Tehran under pressure to agree to a deal or face U.S. military strikes.
Easing US Sanctions Lightens Venezuelan Debt to Eni
Venezuela can now pay for gas received from Eni with oil thanks to a recent easing of U.S. sanctions, unlocking a situation that had left the Latin American country with a large debt to the Italian firm, Eni's CEO said on Thursday."That's really a big upside. Before we were stuck for almost one year. That created a build up in our outstanding," Chief Executive Claudio Descalzi said during a postāresults call.Descalziā¦
StormGeo Launches Fleet Performance Advisory Center
StormGeo is strengthening its Voyage Intelligence offering with the launch of a new Premium Fleet Performance Center Service that will help shipowners and managers turn vessel data into actionable insights to achieve measurable operational and compliance improvements.The Premium Service was announced at the IME(I) Annual Event in India by StormGeo.Navigating complexityBuilding on established Fleet Performance Center services within StormGeoās Voyage Intelligence frameworkā¦
BIMCO Sees Strong Crude Tanker Market, Flags Recycling Risk
Low ship recycling activity could undermine tanker market strength in the coming years, BIMCO said in its February 2026 Tanker Shipping Market Overview & Outlook, even as crude tanker earnings are expected to remain firm in the near term.āWe expect continued strong market conditions for crude tankers in 2026 and 2027 despite some weakening in 2027. On the other hand, we forecast that the product tanker market will weaken during both years as fleet and supply growth acceleratesā¦
German Shipowner Buys Two Multi-Purpose Vessels
Germanyās Ernst Russ has acquired two multi-purpose vessels, MV Ronnie and MV Charlie, as part of its long-term fleet strategy to expand exposure to the project cargo segment and strengthen predictable earnings.The Hamburg-based shipowner said both vessels have been fixed on seven-year charters to dship Carriers, a globally operating European company specialized in project cargo, providing long-term employment and improved cash flow visibility.The vesselsā¦
Fincantieri, Navantia to Form JV for European Patrol Corvette Program
Italyās Fincantieri and Spainās Navantia have signed a memorandum of understanding to jointly coordinate and execute the European Patrol Corvette (EPC) program, strengthening industrial cooperation under one of Europeās most ambitious defense initiatives.The two shipbuilders plan to create a joint venture to manage and execute the program. The vehicle will be open to participation from other project partnersā¦
Eidesvik Offshoreās PSV to Stay a Little Longer with Aker BP
Norwegian oil and gas company Aker BP has extended a contract for Eidesvik Offshoreās platform supply vessel (PSV) Viking Prince.The firm period for the PSV has been extended with approximately two months, and will run to end of April 2026. No additional details about the contract were disclosed.Viking Prince is a 2012-built platform supply vessel (PSV), with a deck area of around 1 050 m2.The 89.6 meters-longā¦
DP World Acquires Container Ship to Strengthen Red Sea-India Service
DP World has acquired a 5,000+ TEU container vessel, DP World Chennai, integrating it into its Red Sea GulfāIndia service to strengthen trade links between India and the Middle East.The vessel has been deployed on the route with its maiden call at Jebel Ali, lifting DP Wordl Shipping Solutionsā owned capacity to over 6 million TEU and aimed at enhancing schedule reliability across key regional markets."Theā¦
Boskalis, TKF Ink Baltic Offshore Wind Cable Installation Deal
Dutch offshore services provider Boskalis, in consortium with TKF Subsea Solutions, has signed a contract with OWP Gennaker, as developed by Skyborn Renewables, for the supply and installation of inter-array cables for the Gennaker offshore wind farm in the German Baltic Sea.The contract for around 140 kilometers of 66 kilovolt inter-array cables has been classified by Boskalis as sizable, carrying a value between $58 million and $177 million (ā¬50 million and ā¬150 million).Under the agreementā¦
CMB Tech Profit Boosted by Freight Boom, High Ship Values
CMB Tech reported fourth-quarter core earnings above market expectations on Thursday as robust tanker and dry-bulk markets allowed the Belgian shipping group to lock in charter contracts and sell older ships at high prices.The tanker group said market conditions remain supportive into early 2026, though a potential crude supply surplus later in the year could pressure oil prices and curb transport demand if producers cut output.Earnings before interestā¦
Everllence and Vale Sign Ethanol Cooperation Agreement
Everllence and Vale ā one of the worldās leading producers of iron ore, copper and nickel, and one of the largest logistics operators in Brazil ā have signed a cooperation agreement regarding the development of ethanol as a marine fuel.Under the terms of the agreement, the companies will develop an advanced ethanol-powered engine ā based on the Everllence B&W ME-LGI (-Liquid Gas Injection) platformā¦
Petrobras Awards Acteon Mooring Services Contract
Intermoor, Acteonās Moorings and Anchors business been awarded a new contract by Petrobras for the provision of stack-up mooring system services in Brazil.This work will support light-workover interventions and abandonment operations on installed subsea Christmas trees across both anchored and dynamically positioned mobile offshore drilling unitsāÆ(MODUs) and well intervention vessels (WIVs). The assetsā¦
Watch: Salvors Refloat Grounded Barge in San Juan Harbor
The barge Defiant was refloated from the Castillo San Felipe del Morro shoreline in San Juan Harbor, Wednesday at approximately 2:22 a.m., just before high tide.Salvage crews and tugboat operators prepositioned three tugboats and completed all the preparations, including the pressurization of all cargo tanks, voids and compartments in the barge. The tugboat, Lobo Grande, successfully pulled the bargeā¦
Hong Kong Shipowners Welcome Budget Provisions
The Hong Kong Shipowners Association (HKSOA) has welcomed the many new initiatives in the 2026-27 budget promulgated by the Financial Secretary.Many of the associationās recommendations have been accepted by the government:ā¢ provision of tax concession for eligible commodity traders;ā¢ introduction of a new incentive scheme for green fuel-powered vessels registered in Hong Kong;ā¢ enhancement of the ship registration regime with a dual registration systemā¦
