Fraser Industries LLC Signs Shipyard Modernization Memorandum of Understanding with HD Hyundai to Advance U.S. Shipbuilding Revitalization
Fraser Industries LLC announced that it has signed a memorandum of understanding (MOU) on cooperation for shipyard modernization to revitalize the U.S. shipbuilding industry with HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company of HD Hyundai's shipbuilding division.HD Hyundai will advance Fraser Shipyards as a hub for rebuilding the U.S. shipbuilding industry…
BIO-UV Group Reports $22m Turnover in H1 2026
BIO-UV Group French water treatment and disinfection systems specialist BIO-UV Group has reported strong revenues of USD$22.8 million (€20.1 million) for the H1 2026, with its Services & After-Sales division achieving 10% growth on the same period 2025.The Groups says growth was driven by export activity, stabilization in the maritime retrofit market, and sustained momentum in fisheries and aquaculture.
CMT Launches Engine Pressure Drop Tester for Ship Operators
Germany's CM Technologies (CMT) has launched a compact pressure drop testing instrument designed to help ship operators detect cylinder pressure leaks early, enabling them to address engine wear before it leads to higher fuel consumption, costly repairs and vessel downtime.The Pressure Drop Test Instrument (PDTI) measures pressure loss in diesel engine cylinders during the compression process, helping engineers identify issues such as worn piston rings…
Iran Vows Response to Ukrainian Attack on Commercial Vessel
Iranian Foreign Minister Abbas Araqchi said on Sunday a Ukrainian attack on an Iranian commercial vessel "cannot go unanswered".Iran said the attack in the Caspian Sea resulted in an explosion that killed one sailor and injured another.Araqchi made the comments in calls with EU foreign policy chief Kaja Kallas and Russian Foreign Minister Sergei Lavrov, Araqchi posted on X.Lavrov, in a statement posted on the Russian Foreign Ministry's website, offered condolences in connection with the death of
Rescuers Search for Survivors After Vessel Sinks in South China Sea
Rescuers were searching on Sunday for 17 people still missing after a Vietnamese ship sank in the busy waterway of the South China Sea, while 45 have been pulled from the waters since Saturday night, China's state broadcaster CCTV said.Chinese authorities said the cargo vessel Khoi Nguyen 18, with 62 Vietnamese nationals aboard, ran into distress in waters near Fiery Cross Reef, CCTV added.A distress flare from the vessel was first spotted by a Chinese rescue ship…
Vessel Sinks Week After Being Struck by Russian Fire
An international general cargo vessel sank off the coast of Ukraine's Black Sea port of Odesa on Sunday, a week after Ukrainian officials said it had been struck by Russian forces.Ukraine's ports authority said the Golden Leo, sailing under a Guinea-Bissau flag, had sunk near the port.
Red Sea Shipping Slows After Houthi Attack on Saudi Arabia
Ship traffic through Bab el-Mandeb fell on Sunday after Yemeni Houthis attacked Saudi oil installations along the Red Sea coast, while transit through the Strait of Hormuz stayed low over the weekend, shipping data from Kpler showed on Monday.Eleven commodity vessels passed through the Bab el-Mandeb strait on Sunday, the lowest level in months, the data showed.Red Sea traffic has been disrupted off the coast of Yemen since last week by the Tehran-aligned Houthis…
Japan Finds Rare Earth Mud Near Remote Island
An analysis of rare earth-rich mud retrieved from the deep seabed off a remote Pacific Island earlier this year found medium and heavy rare earth elements accounted for about 54% of the total rare earth content, Japan's government said on Friday.But it did not disclose the size of the content or the deposits, saying the data was insufficient due to the limited duration and geographic scope of sampling.The Japanese scientific drilling vessel…
KSOE and Siemens Partner on AI-Powered Shipyard
HD Korea Shipbuilding & Offshore Engineering has signed an agreement with Siemens Digital Industries Software to develop an AI-powered shipyard.The next-generation marine platform is centered on integrating the entire shipbuilding process—from vessel design and production to supply chain management, quality control and maintenance—into a single 3D-model-based data environment powered by AI and digital technologies…
World’s Fastest Self-Unloader Ready for Simandou Project
SimFer, the Joint Venture between the Government of Guinea, Rio Tinto and the Chinalco-led CIOH Consortium, has named its first transhipment vessel (TSV), Wontanara.The vessel will be deployed to support Simandou, the largest greenfield mining and related infrastructure project in Africa, where it will become the first of five specialized TSV vessels supporting SimFer’s marine logistics operations at the Port of Morebaya in Guinea.Each specially designed TSV will transport more than 40…
USGC Holds Change-of-Command for Sector New York
Capt. Jonathan Andrechik transferred command of Coast Guard Sector New York to Capt. Doreen McCarthy Monday, during a change-of-command ceremony at Sector New York in Staten Island. Rear Adm. Michael Platt, Commander, Coast Guard Northeast District, presided over the ceremony.Capt. McCarthy reported to Sector New York and has served as the deputy commander since May of 2024. Prior to serving as the Sector New York Deputy Commander, Capt.
USCG Cutter Healy Returns to Homeport After Engineering Casualty
U.S. Coast Guard Cutter (CGC) Healy experienced an engineering casualty while operating northwest of Port Angeles, Washington. There were no reported injuries. On July 13, tugs safely towed CGC Healy back to homeport for an investigation into the incident and to undergo major repairs.The Coast Guard maintains a strong presence in the Arctic to control, secure, and defend the U.S. northern border and approaches, and uphold U.S.
Cooperative Ventures Invests in OpenTug, Furthering Agricultural Shipping Logistics
Cooperative Ventures has announced an investment in OpenTug, an AI-native logistics technology company specializing in inland and coastal marine transportation. Cooperative Ventures, a joint venture between CHS Inc. and GROWMARK, focuses on investing in agtech startups and developing mutually beneficial commercial relationships between startups and partners. In addition to Cooperative Ventures investment in OpenTug…
US Missiles Strike Across Iran After Houthis Announce Naval Blockade
U.S. missiles struck targets across Iran, reaching as far as its Caspian coast, on Friday after President Donald Trump vowed "major military punishment" for Tehran and its Houthi allies in Yemen for extending the Middle East war to a second major shipping chokepoint, the mouth of the Red Sea.Two weeks after the collapse of an interim truce meant to end the war, the Iranian armed forces responded by firing at U.S.
ABS Deepens South Korea-US Shipbuilding Collaboration
ABS has signed two agreements with South Korean shipbuilding organizations aimed at advancing software-defined vessel technology and strengthening workforce development for the U.S. and Korean shipbuilding industries.The first agreement will see ABS Consulting and affiliate ABS Wavesight support HD Korea Shipbuilding & Offshore Engineering (HD KSOE) in developing its software-defined vessel (SDV) platform by providing software quality assurance advisory…
GTT Marine to Digitize Petronas’ LNG Fleet
GTT Marine has won a contract to deploy its integrated suite of digital vessel performance solutions across Petronas’ chartered LNG carrier fleet, aiming to improve operational efficiency, lower costs and reduce emissions.The agreement covers the deployment of GTT Marine's digital platform for vessel performance monitoring, voyage optimization and cargo management, with the potential to be extended as Petronas expands its chartered LNG carrier fleet.The vessel performance solution will collect…
Allseas Readies Overhauled Solitaire Pipelayer for Gulf Return
Dutch offshore contractor Allseas has completed one of the most extensive renewal and upgrade programs in the history of its pipelay vessel Solitaire, paving the way for the ship's return to commercial operations following 10 months of work in Rotterdam.The program modernized the vessel's propulsion, power generation, automation and hybrid power systems, while upgrading its double joint factory (DJF)…
Oil Eases After Topping $100, Still Set for Weekly Rise
Oil futures prices fell over 3% on Friday but are still set for hefty weekly gains because of concerns about disrupted energy flows in the Red Sea and fears of further escalation in the U.S.-Israeli war with Iran.Brent futures LCOc1 fell nearly $4, or 3.96%, to $96.70 a barrel at 0946 GMT, having settled above $100 in the previous session for the first time since May after Iran-aligned Houthis said…
Chinese Supertankers Exit Red Sea With Saudi Oil
Two Chinese supertankers carrying a combined 4 million barrels of Saudi Arabian oil exited the Red Sea via the Bab el-Mandeb strait on Thursday, shipping data showed, apparently escaping a blockade on shipments of Saudi oil by Yemen's Houthi militias even as other Saudi vessels came under attack.The Red Sea blockade by the Iran-aligned Houthis is worsening global energy supply disruption, coming at…
South Korean, U.S. Shipbuilders Deepen Ties
The quest to rebuild U.S. shipbuilding capability quickly is premised on partnering with existing shipbuilding powers outside of China, with several recent announcements today solidifying the connection between the two allies.Four separate partnerships were recently announced, three today, underscoring a growing bilateral effort to rebuild America's maritime industrial base through investments in shipbuilding capacity…
