Trench Group to Be Acquired by GE Vernova
GE Vernova Inc. announced that it will acquire Trench Group, a provider of high-voltage grid equipment, from investment firm Triton Partners. The deal will create scale across GE Vernova’s Electrification product lines, expanding its capabilities to better serve customers with integrated solutions that meet demand for grid modernization, energy security, and electrification technologies. By vertically integrating an existing supplier with a complementary product portfolio…
Ports of Indiana-Burns Harbos Receives $11.2m to Modernize Cargo Handling
Ports of Indiana-Burns Harbor has been awarded $11.2 million through the U.S. Department of Transportation's Maritime Administration (MARAD) Port Infrastructure Development Program (PIDP) to modernize its cargo handling, including the specialized equipment needed to support future international container service. The grant is part of a $498 million investment to modernize 35 port projects across 19…
AAPA Congratulates Recipients of $498m MARAD Port Development Grants
The American Association of Port Authorities (AAPA) congratulates the 35 award recipients of the Maritime Administration's (MARAD) Port Infrastructure Development Program (PIDP) grants from the Fiscal Year 2026 (FY26) application cycle.This year, the mainstay port industry grant program, administered by MARAD under the U.S. Department of Transportation (DOT), will invest $498 million to upgrade America’s ports in 19 states.
ASRY Celebrates Completion, Delivery of Two Self-Propelled Bunker Vessels
The Arab Shipbuilding and Repair Yard Company (ASRY) held an official ceremony to mark the successful completion, construction and delivery of two self-propelled bunker vessels to Bapco Refining, a subsidiary of Bapco Energies. The ceremony was attended by officials from the Ministry of Transportation and Telecommunications, alongside senior executives and representatives from both companies and other…
Fairbanks Morse Defense Wins $100m Contract to Ensure Attack, Missile Submarine Availability
Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, was awarded a $99.09 million contract to ensure the availability of U.S. attack submarines (SSNs) and ballistic missile submarines (SSBNs) into the 2030s by enacting critical life extension services. Under a Naval Sea Systems Command (NAVSEA) contract, FMD will provide repair, parts and labor through 2030 for Emergency Diesel Generator (EDG) overhauls on six nuclear submarines.
Shipsonic Appoints Anne Marie van Swinderen as New CEO
Shipsonic, a producer of ultrasonic antifouling systems operating from the Province of Zeeland, has appointed Anne Marie van Swinderen as its new CEO. The appointment, effective October 2026, comes at a time when interest in ultrasonic antifouling technology from the maritime sector is growing. Van Swinderen has previously founded five companies, three of which were transferred through a management buy-out, and she still owns one of these companies.
Port of Oakland's Matson Terminal Begins Construction to Electrify Cargo Handling Fleet
The Port of Oakland will soon begin construction on critical infrastructure improvements across the Oakland Seaport, including upgrades that will enable Matson Terminal to transition to a 100% zero-emission cargo-handling equipment fleet. Once complete, Matson Terminal will be the first marine terminal at the Port of Oakland to achieve this milestone, supported by new charging and electrical infrastructure.
ZERO44 Releases Free Biofuel Calculator
ZERO44, a provider of software for maritime emissions compliance, has released a free, interactive fuel cost calculator on its website. The tool shows ship operators how the economics of replacing fossil fuel with biofuel change once carbon regulations are taken into account, and how that picture shifts year by year.Beyond the price per tonneAccording to ZERO44, fuel prices are still frequently compared on a one-to-one basis: what does a tonne of biofuel cost against a tonne of fossil fuel?
Surging Tanker Rates Buoy Bahri Profit
Saudi Arabian shipping company Bahri reported a sharp increase in third-quarter and nine-month earnings for 2026, benefiting from higher very large crude carrier (VLCC) freight rates, increased chartering activity and shifting trade patterns amid continued disruption in the Arabian Gulf and Red Sea.Net profit for the first nine months reached SAR 9.98 billion ($2.66 billion), up 587% year-on-year, on revenue of SAR 26.10 billion ($6.96 billion)…
The Business of Offshore CO₂ Storage: A New Market for Maritime Infrastructure
Carbon capture and storage (CCS) is moving from a collection of demonstration projects toward a new infrastructure business. As of July 2025, 734 commercial CCS facilities were in operation or development, up from 628 a year earlier, while total capture capacity in the pipeline increased from 416 million tons per annum (Mtpa) to 513 Mtpa (64 Mtpa operational) (Figure 1). Figure 1. Cumulative operating CCS facilities by region…
India Approves $1.05B Plan to Boost Shipping Container Production
India has approved a $1.05 billion (100 billion rupee) scheme aimed at increasing domestic shipping container manufacturing capacity around tenfold to 750,000 TEUs annually, as the country seeks to reduce import dependence and strengthen its maritime supply chains.The Container Manufacturing Promotion Scheme (CMPS), approved by the Union Cabinet chaired by Prime Minister Narendra Modi on October 28…
Damaged Tanker Leaks Oil Across UAE Waters as Spill Widens
An oil spill from a damaged tanker off the coast of the United Arab Emirates has widened, satellite images showed, triggering more beach closures and raising environmental concerns.Images from the European Union's Copernicus satellite observation network dated October 24 show the oil spill has widened over the last few days and is reaching close to the shores of the northern Umm Al Quwain emirate,…
CACI Hooks $145M US Navy Deal for Advanced Maritime Systems
National security technology company CACI International has secured a four-year task order worth up to $145 million to develop and integrate advanced maritime technologies for the U.S. Navy, including autonomous systems, maritime sensors and next-generation naval platforms.The contract, awarded to support the Naval Surface Warfare Center Carderock Division (NSWCCD), will focus on developing technologies aimed at improving fleet readiness and operational flexibility.Under the agreement…
ESAB Launches Rogue ET 230iP AC/DC Welder
ESAB has introduced the Rogue ET 230iP AC/DC TIG/Stick welder. The Rogue combines AC/DC TIG welding capabilities with controls that make it easier for welders of all skill levels to optimize arc performance and weld quality. Featuring ESAB’s 5-in. color TFT graphical interface, the Rogue gives operators precise control over heat input, penetration, puddle characteristics and bead appearance without the complexity typically associated with advanced TIG welding systems.
Houthi Missile Strikes Saudi Oil Refinery
Yemen's Iran-aligned Houthis said on Tuesday they had hit Saudi Arabia's Ras Tanura oil refinery, the biggest in the kingdom, with a ballistic missile.The Houthis also said they had attacked Saudi military aircraft and repelled an advance by Saudi-backed forces near the Bab el-Mandeb Strait, an important Red Sea shipping route.Intensifying hostilities between Yemen and Saudi Arabia have further disrupted oil supplies and heightened the risk of a wider regional conflict…
Türkiye Pushes For Further Hydrocarbon Exploration by Year’s End
Turkey may reach agreements to make acquisitions or further explore for hydrocarbons by the end of the year as part of its target to produce 1 million barrels of oil and natural gas a day, Energy Minister Alparslan Bayraktar said on Tuesday.Speaking at the Turkey Energy Summit in Istanbul, Bayraktar said Turkey had a production capacity of 300,000 barrels of oil equivalent, adding that the current planning had this reaching 550…
Oil Prices Fall Amidst Middle East Peace Talks
Oil futures fell on Tuesday as attention turned to Middle East peace talks, though prices remain near multi-month highs as the Houthi-Saudi Arabia conflict rages and the potential for fresh US-Israeli attacks hangs over the market.Brent crude futures were down $1.00, or 0.86%, at $114.81 a barrel by 1311 GMT. US West Texas Intermediate crude was down 78 cents, or 0.77%, at $100.98.Iranian Security…
Gulf Markets Rise in Wake of Saudi Defense Pact
Most Gulf bourses ended higher on Tuesday as diplomatic efforts to de-escalate the Middle East conflict gathered pace, a day after Saudi, Turkish and Pakistani officials held talks in Tehran. It was the first high-level contact between Iran and the three allies, who signed a mutual defence pact in August, since the US-Israeli strikes on Iran triggered a war that spread to Saudi Arabia and Yemen. Saudi Arabia's benchmark index advanced 2.3%…
Hanwha General Insurance, CYTUR to Explore Maritime Cyber Insurance Initiatives
Hanwha General Insurance Co., Ltd. signed a memorandum of understanding (MOU) with CYTUR Inc., a company specializing in maritime and vessel cybersecurity, on October 23 to jointly pursue maritime cyber insurance business initiatives. The agreement aims to provide an integrated service combining maritime cyber insurance capabilities with vessel cybersecurity technologies and to actively develop South Korea's maritime cyber insurance market.As cyber threats targeting maritime supply chains…
Seatrium, Karpowership Link Up on Floating Power and Digital Infrastructure
Seatrium announced that it has entered into a Memorandum of Understanding (MoU) with global floating power solutions specialist Karpowership to pursue a joint venture to develop floating power and infrastructure solutions in Singapore, with the potential to extend cooperation to the wider Southeast Asia market.The two companies will create an integrated platform combining infrastructure development, financing, engineering, construction and operations.
