Offshore Service Vessels: A Measured Market Recovery
The outlook for the offshore support vessel (OSV) business has brightened considerably since the dark days of the previous decade and is possibly in a “Goldilocks moment” — not too weak and not too strong. While strengthening, it has not yet reached the point of significant new vessel ordering. Paradoxically, across maritime markets, observers are often concerned when exuberance gets out of hand. For now…
The Impact of U.S.-Venezuela Relations on Ocean Shipping
U.S.–Venezuela relations have entered a consequential phase for ocean transportation, energy markets, and trade compliance. Sanctions targeting Venezuela’s oil sector and maritime networks now combine escalated enforcement, including tanker seizures, vessel interdictions, and intensified scrutiny of shipping structures, with narrowly-tailored licenses permitting specific oil exports, diluent shipments, and related maritime services.
Built on the Rivers: Aimee Andres and the Expanding Role of America’s Inland Ports
For Aimee Andres, the nation’s inland rivers are not an abstract transportation network or a policy talking point. They are personal. Growing up, she spent her formative years around ports, terminals and railroads, watching firsthand how freight moved and how quietly essential inland infrastructure is to the country’s economic engine. That upbringing ultimately led her to a role she has now held for more than a decade: Executive Director of Inland Rivers, Ports & Terminals (IRPT).
Louis Dreyfus Company Appoints Landerretche CFO
Louis Dreyfus Company B.V. (LDC) appointed Sébastien Landerretche as the Group’s Chief Financial Officer (CFO), effective March 18 and based in Switzerland.Landerretche joined the Group in 2004, leading global ocean freight research, based in China. He subsequently held several key leadership roles based in Singapore, including Regional Head of Oilseeds and Regional Head of Freight for Asia, until his appointment as Global Head of Freight in 2015, based in Switzerland.
Maersk Offshore Names New WTIV Ahead of US Offshore Wind Deployment
Maersk Offshore Wind has officially christened its new Seatrium-built wind turbine installation vessel (WTIV) Maersk Viridis, marking the entry of the first vessel in the company’s new offshore wind installation fleet.The naming ceremony was held on board the vessel, where its godmother, Charlotte Nørkjær Larsen, formally named the ship by smashing a bottle of champagne against the main crane pedestal.Delivered by Seatrium…
Seadrill Appoints New CEO
Offshore drilling contractor Seadrill has appointed Samir Ali as its new chief executive officer (CEO).Effective immediately, Samir Ali will step up from its Executive Vice President, Chief Commercial Officer (CCO) position to its new role, succeeding Simon Johnson.Ali has served as Executive Vice President, Chief Commercial Officer of the company since August 2022. Prior to joining Seadrill, Ali was with Diamond Offshore…
Iran Allows Turkish-Owned Vessel to Pass Through Strait of Hormuz
A Turkish-owned ship that had been waiting near Iran was allowed to pass through the Strait of Hormuz after authorities received permission from Tehran, Turkish Transport and Infrastructure Minister Abdulkadir Uraloglu said.In comments to Turkish media on Thursday that were released on Friday, Uraloglu said Ankara had declared the highest-level security warning for the strait and continued contacts…
Iran Orders Vessel Coordination with Navy in Hormuz Strait Transit
Ships must coordinate with Iran's navy to pass through the Strait of Hormuz, the country's foreign ministry spokesperson said in comments carried by Mehr news agency on Thursday.Iran will fight on and keep the Strait of Hormuz shut as leverage against the United States and Israel, new Supreme Leader Mojtaba Khamenei said on Thursday in defiant first comments attributed to him since he succeeded his slain father."The security of the Strait of Hormuz is of vital importance to Iran…
Iranian Oil Exports Continue Through Hormuz Strait as Gulf Flows Stall
Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters review of tanker tracking data showed.Iran has exported about 13.7 million barrels of crude oil since Israel and the U.S. launched attacks on the country on February 28, according to analysis from TankerTrackers.com…
Mitsubishi Shipbuilding Delivers Training Ship
Mitsubishi Shipbuilding has delivered the Wakashio Maru, a training ship for National Institute of Technology, Toyama College in Japan.This is the first replacement ship for the school since 1995 and the first ship Mitsubishi Shipbuilding has built for the school. The 56-meter vessel can accommodate 60 people.The ship will be utilized for navigation practice, operations, and ocean-related research…
NYK Group Acquires Saga Welco
NYK Group has reached an agreement with the Norwegian shipping company Westfal- Larsen Group to fully acquire Saga Welco.Saga Welco, a Norwegian shipping operator specializing in transporting cargo via open-hatch vessels, is currently jointly owned by NHE and the Westfal-Larsen Group, with each party holding a 50% stake. The transaction is expected to be finalized within 2026, subject to regulatory…
US Allows Countries to Buy Russian Oil Stranded at Sea
The United States issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets roiled by the Iran war.The announcement comes a day after the U.S. Energy Department said that the U.S. would be releasing 172 million barrels of oil from the strategic petroleum reserve…
Swedish Coast Guard Boards Second Stateless Ship in a Week
The Swedish coast guard said on Thursday it boarded and took control of a suspected stateless vessel in Swedish waters of the Baltic Sea, in the second such incident in less than a week.The 228-meter-long (250 yards) tanker Sea Owl I was flying the Comorian flag, and the coast guard said it suspected the ship was sailing under a false flag.The ship is also on the sanctions list of several countries…
Bio-Methanol Gaining Traction as Alternative Fuel
This week, CMA CGM and SIPG Energy successfully completed the bunkering of 3,643 tons of bio-methanol for the CMA CGM Osmium at Yangshan Port in Shanghai. This operation marks CMA CGM’s first bio-methanol bunkering worldwide and sets a new national record for the largest single bio-methanol bunkering operation carried out at a Chinese port.As part of its commitment to achieving Net Zero Carbon by 2050…
FN and Damen to Develop Defense Solutions
Damen Shipyards Group has signed a memorandum of understanding (MoU) with FN Herstal, laying the foundation for a strategic industrial participation in maritime defense.The two parties aim to collaborate closely on the integration of FN solutions with Damen vessels, and the development of the regional, European and NATO defense eco-systems.The agreement provides for close collaboration in innovation and engineering…
GTT Receives Tank Order from HD KSOE
GTT has received an order from HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for the tank design of a new liquefied natural gas carrier.The vessel will be built by the shipyard HD Hyundai Samho on behalf of the shipowner Sonangol. The vessel’s cryogenic tanks, with a total capacity of 174,000 m³, will be fitted with GTT’s Mark III Flex membrane containment system.Delivery of the vessel is scheduled for the second quarter of 2028.
IMO Schedules Extraordinary Council Meeting to Discuss Middle East
The IMO has called an Extraordinary Council meeting to discuss situation in Middle East. The meeting will focus on the impact on shipping and seafarers in the Arabian Sea, the Sea of Oman and the Gulf region, particularly in and around the Strait of Hormuz.The session will be held on March 18 to 19 at the IMO headquarters in London, United Kingdom, to be chaired by Victor Jiménez of Spain.The Extraordinary…
New First Aid Kits Help Seafarers Prepare for Attacks
Seafarers calling at Ukrainian ports will receive specialist safety kits designed to mitigate the risks posed by missile and drone attacks under a new initiative from maritime charity Stella Maris.The crew safety kits are designed to help seafarers prepare for and respond to emergencies while operating in conflict affected regions.The initiative comes at a time of heightened geopolitical tensions affecting major shipping routes around the world…
Union Members Ratify Pay Rise at HII’s Ingalls Shipbuilding
HII has announced that all five collective bargaining units at its Ingalls Shipbuilding division have ratified new collective bargaining agreements, securing an immediate 18 percent or higher base wage increase for union-represented shipbuilders.This is the largest single wage increase in Ingalls Shipbuilding history and will extend the contract through March 8, 2031.The Ingalls Shipbuilding Collective Bargaining Agreement…
Grimaldi Takes Delivery of Grande Seoul
The Grimaldi Group has taken delivery of the new PCTC Grande Seoul.Built by Shanghai Waigaoqiao Shipbuilding Company Limited (SWS) and China Shipbuilding Trading Company (CSTC) – both part of China State Shipbuilding Corporation (CSSC) – the vessel is the Italian group’s ninth ammonia-ready unit.With a length of 200 meters, a beam of 38 meters, and a gross tonnage of approximately 77,500 tonnes, the Grande Seoul has been designed for the efficient transport of vehicles (cars…
