Oil Prices Steady with Ukraine Peace Talks, US Interest Rate Decision Looms
Oil prices steadied on Tuesday after falling 2% in the previous session, with investors keeping a close eye on peace talks to end Russia's war in Ukraine, concerns about ample supply and a looming decision on U.S. interest rates.Brent crude futures edged 3 cents higher to $62.52 a barrel at 1317 GMT. U.S. West Texas Intermediate crude gained 4 cents at $58.92 a barrel.Both contracts fell by more than $1 a barrel on Monday after Iraq restored production at Lukoil's West Qurna 2 oilfield…
ABS Chairman and CEO Named International Personality of the Year at the Greek Shipping Awards
ABS Chairman and Chief Executive Christopher J. Wiernicki was named International Personality of the Year at the Lloyds List Greek Shipping Awards, the second time he has received the honor.The accolade followed ABS being named Number One Classification Society by Gross Tonnage in the annual Lloyds List ranking of the Top 10 Class Organizations.“Over the years, I have felt a profound bond with Greece and its maritime community…
HII Deepens Partnership with Babcock International Group in Support of Virginia-Class Submarine Construction
HII and Babcock International Group announced they have signed a contract that expands their strategic partnership to further support Virginia-class submarine construction throughput at HII’s Newport News Shipbuilding (NNS) division. Additionally, the contract will build resiliency within HII’s submarine supply base.This is the first Virginia-class outsourced contract to Babcock in support of NNS-specific submarine work…
UKHO Partners with Shom to Launch International S-100 Sea Trials Program
The UK Hydrographic Office (UKHO) has launched an international sea trials program in partnership with the French Hydrographic and Oceanographic Service (Shom). The joint program represents the most comprehensive test of S-100 data standards to date and will form part of the International Hydrographic Organization’s (IHO) coordinated test bed framework. Throughout the trials, the UKHO and Shom will collect evidence to inform safety and efficiency use cases…
BYD Energy Storage, Corvus Energy Sign MoU to Accelerate Marine Battery Innovation
BYD Energy Storage, a leader in the energy storage sector, and Corvus Energy AS, a leader in marine energy storage systems (ESS), announced the signing of a Memorandum of Understanding (MoU) to establish a strategic collaboration aimed at advancing next-generation battery solutions for the maritime sector.The MoU strengthens the cooperative relationship between the two companies by combining BYD Energy…
bound4blue Lands $44m From Investors Eyeing Wind Power as a Scalable Solution
bound4blue, a leader in wind propulsion systems, has closed a $44 million funding round backed by leading maritime corporates, ship owning families, climate-focused investors and government capital. The round was led by OCTAVE Capital, an investment platform affiliated with major shipowner: IMC, and Katapult Ocean. The round brings together new investors including Motion Ventures, Odfjell family office and ReOcean Fund…
Lloyd’s Register, Latsco Chart New Digital Course for Ship Classification
Lloyd’s Register (LR) and Latsco have successfully completed a proof-of-concept for a new standard in digital class assurance with data-driven surveys. This collaboration aims to demonstrate how verified operational vessel data can fully meet class survey requirements, without compromising safety, integrity, or technical rigor. The proof-of-concept was conducted on the vessel HELLAS MARGARITA during an active voyage to Singapore.
Advanced Polymer Coatings Signs Deal to Coat Two Methanol Tankers with Fratelli Cosulich
Manufacturer Advanced Polymer Coatings (APC) has signed a deal with global maritime transportation group Fratelli Cosulich to support its methanol-ready fleet expansion.APC has signed a contract with the Italian headquartered group to supply its industry-leading MarineLINE cargo tank coating to two new IMO Class II chemical tankers, to prepare them for methanol bunkering in Singapore.The MarineLINE cargo tank coating will ensure superior chemical resistance…
NUWC Division Newport’s AUTEC Range Performs Sensor Accuracy Test of German Ship for NATO FORACS
In October, a German navy ship completed sensor accuracy testing at the Naval Undersea Warfare Center (NUWC) Division Newport’s Atlantic Undersea Test and Evaluation Center (AUTEC) for the first time, marking a milestone for both Germany and NATO’s long-running Fleet Operational Readiness Accuracy Check Sites (FORACS) program.The combat oiler Federal German Ship (FGS) Berlin (A 1411) arrived in the U.S. as part of the U.S.
US Judge Overturns Trump’s Freeze on Wind Energy Permits
A federal judge on Monday struck down an order by U.S. President Donald Trump's administration to halt all federal approvals for new wind energy projects, saying that agencies' efforts to implement his directive were unlawful and arbitrary.Agencies including the U.S. Departments of the Interior and Commerce and the Environmental Protection Agency have been implementing a directive to halt all new approvals…
Dong Fang Offshore Picks Westcon for New CLV Delivery
Dong Fang Offshore (DFO), one of Asia’s largest offshore wind service providers, has signed a major shipbuilding contract with Norwegian yard Westcon for a new subsea and cable lay vessel (CLV), set for delivery in 2027.Westcon will take over and complete construction of a large cable lay vessel already under build.DFO said the order supports its recent growth and replaces installation capacity lost…
Washington State Ferries Advances Ferry Order Contracts
Washington Governor Bob Ferguson selected the $714.5 million bid from Florida-based Eastern Shipbuilding Group to build three new Washington State Ferries (WSF) vessels earlier this year, and the project is advancing with new contract awards.The hybrid/electric vessels have a length overall of 409’-6” with an 83’-2” beam and a hull depth of 24’-6”. They will be certified to transport 160 standard-sized passenger vehicles and 1500 passengers.
Washington State Ferry Suffers Engine Damage
Washington State Ferries (WSF) reports that an initial inspection after the 58-year-old Kaleetan was removed from service on Friday has confirmed significant engine damage to one of the engine cylinders.The vessel will remain unavailable for service during this week and possibly the following two. The damage occurred when one of the cylinder's four valves failed during operation.Operations, Planning…
Brazil Court Recommends Auction of Santos Terminal
Brazil's Federal Audit Court (TCU) on Monday voted six to three to recommend that operators of existing container terminals at the Santos port be barred from participating in the first phase of bidding for a planned mega terminal, citing concerns over market concentration.The decision deals a blow to companies such as Danish shipping group Maersk, MSC and others already operating container terminals in Latin America's largest port, as these companies will only be able to enter a second phase of
HD Hyundai Signs MoU for Indian Shipyard
HD Hyundai has signed a strategic partnership with the Tamil Nadu state government regarding the establishment of a new shipyard in India.The Indian government is strategically pursuing the "Maritime Amrit Kaal Vision 2047" to become one of the world's top five shipbuilding and shipping nations. To achieve this goal, the government is actively reviewing the expansion of existing shipyards and the establishment…
Havila to Appeal Oslo Court Decision
Havila Shipping has not had its case upheld in Oslo District Court and will appeal the judgment.In January and March, the company filed a lawsuit against DnB Bank ASA, Danske Bank AS NUF, and Swedbank AB (publ).The banks have maintained that Havila Shipping breached refinancing terms by converting of debt to equity and conducting a bond issue.In a statement, Havila said: “Havila Shipping does not agree with the judgment, and the district court's ruling is not a final decision in the matter.
Yara Confirms US Ammonia Strategy
Yara and Air Products have advanced negotiations to partner on low-emission ammonia projects.Yara has matured a project portfolio for potential investment in cost competitive US ammonia to diversify its energy position and increase competitiveness of its European nitrate production.Air Products is developing the world’s largest low-carbon energy complex in the state of Louisiana. The complex is designed to produce >750 million standard cubic feet per day of low-carbon hydrogen…
China Trade Surplus Tops $1 Trillion on Non-US Growth
China's trade surplus topped $1 trillion for the first time as manufacturers seeking to avoid President Donald Trump's tariffs shipped more to non-U.S. markets in November, with exports to Europe, Australia and Southeast Asia surging.Shipments to the United States dropped by close to one-third from the same month a year before."The tariff cuts agreed under the U.S.-China trade truce didn't help to lift shipments to the U.S.
Morocco to Open Two Deepwater Ports in 2026, 2028
Morocco will open a new deepwater Mediterranean port next year and another on the Atlantic in 2028, Equipment and Water minister Nizar Baraka said, as the North African country aims to replicate the success of Africa's largest port, Tanger Med.Nador West Med, under construction on the Mediterranean, is scheduled to be operational in the second half of 2026, Baraka told Reuters in an interview.It will offer 800 hectares for industrial activity…
TKMS to Decide on German Naval Yards Kiel Purchase
German warship builder TKMS expects to decide in the next few weeks on whether to buy neighbouring shipyard German Naval Yards Kiel (GNYK), its CEO Oliver Burkhard said on Monday, as the group considers expansion to meet rising demand.TKMS, which was spun off from parent Thyssenkrupp in October, already bought insolvent shipbuilder MV Werften in 2022, and a purchase of GNYK would further increase its capacity at a time when governments boost defence spending.Talks with GNYK…
