Vessev Expands Into Australian Market with Hydrofoiling Passenger Vessels
New Zealand marine technology company Vessev has announced its expansion into the Australian market, with the Enautic Group set to introduce Vessev's electric hydrofoiling passenger vessels to Western Australia. There are currently only three commercially-certified electric hydrofoiling vessels in operation anywhere in the world, two of which are Vessev VS-9s, which together have logged close to 10…
Oil Prices Drop 8% Ahead of Possible Middle East Peace Talks
Oil prices dropped about 8% on Monday after U.S. President Donald Trump said he would postpone any military strikes against Iranian power plants for five days and cited constructive talks to resolve hostilities in the Middle East, hours before a deadline that threatened to escalate the four-week-old war.Brent futures fell $8.92, or 8.0%, to $103.27 a barrel at 12:31 p.m. EDT (1631 GMT), while U.S.
US Energy Secretary: Oil Prices Are Not High Enough to Cause Demand Destruction
Global oil prices have not climbed enough to cause demand destruction, U.S. Energy Secretary Chris Wright said on Monday at the CERAWeek energy conference in Houston, Texas, even as markets continued to gyrate and global oil prices remained near $100 a barrel due to the U.S.-Israeli war on Iran.The world is enduring one of the worst energy crises in decades following the closure of a key shipping channel and attacks on energy infrastructure in the Middle East that have caused long-term damage.
Bunkering Hubs Along African Coast See Surge as Vessels Reroute
Ship-refuelling companies along Africa's coast are seeing a surge in business as more vessels divert around the Cape of Good Hope, with war in the Middle East reshaping global shipping routes and boosting the continent's role as a bunkering hub.Carriers have been avoiding the Suez Canal and the Bab el-Mandeb Strait since late 2023, when Houthi attacks on Red Sea shipping began. U.S. and Israeli strikes on Iran and the closure of the Strait of Hormuz have reinforced the shift…
Cellula Robotics USA to Deliver AUV Prototype for CAMP Defense Innovation Unit Project
Cellula Robotics USA Inc. has announced its role in delivering a long-endurance Autonomous Underwater Vehicle (AUV) under a contract awarded by the Defence Innovation Unit (DIU) as part of the Combat Autonomous Maritime Platform (CAMP) initiative. Under the contract led by Metron Inc., Cellula Robotics USA Inc. will be responsible for delivery of a commercial off-the-shelf, fuel cell-powered Guardian AUV.
International Launches Aluminum-Pigmented Primer Intergard 6788
AkzoNobel’s marine coatings brand, International, has launched Intergard 6788, a new aluminum-pigmented universal primer developed to meet the demands of the global newbuilding market. The launch in Asia will take place at the Asia Pacific Maritime conference in Singapore, with availability in China and Vietnam as key markets.Epoxy technology enables a higher solids content for the product, proactively meeting increasingly stringent global Volatile Organic Compound (VOC) regulations.
Two India-Bound Tankers Pass Hormuz as Most Shipping Remains Halted
Two Indian-flagged liquefied petroleum gas (LPG) tankers on Monday sailed through the Strait of Hormuz although overall traffic through the critical waterway remained blocked, according to data and sources.The Pine Gas tanker sailed through the Strait with the Jag Vasant following close by, shiptracking data on the MarineTraffic platform showed.The Pine Gas tanker broadcast a message of "India ship and crew", according to separate LSEG ship tracking data.Hundreds of ships remain stuck inside the
Vessel Struck by Projectile off UAE's Sharjah Coast
An unknown projectile struck a vessel 15 nautical miles north of the United Arab Emirates' Sharjah, the United Kingdom Maritime Trade Operations (UKMTO) said early on Sunday.It said that all crew were reported safe.The UKMTO said in a later statement that the target of the incident could not be conclusively identified and authorities were investigating.(Reuters - Reporting by Menna Alaa El-Din; Editing by Nia Williams)
IEA Weighs Further Oil Stock Releases as War on Iran Continues
The International Energy Agency is consulting with governments in Asia and Europe on the release of more stockpiled oil "if necessary" due to the Iran war, Executive Director Fatih Birol said on Monday."If it is necessary, of course, we will do it. We look at the conditions, we will analyse, assess the markets and discuss with our member countries," Birol told the National Press Club in Canberra, at…
US Oil Shield Starts Showing Cracks as Iran War Drives Prices Higher
U.S. President Donald Trump went into the Iran war convinced that America’s vast oil wealth would insulate the country from the kind of energy shock now battering much of the world. Four weeks into the conflict, that shield is looking fragile.Trump’s wager has only partly paid off. U.S. oil prices have risen less sharply than those elsewhere since U.S.-Israeli air strikes against Iran on February 28 ignited a regional war that rapidly engulfed the Middle East’s energy infrastructure…
Ship Recycling Pauses for Eid
Eid al-Fitr has arrived to greet the world's ship recycling markets this week, and as is tradition, it came bearing the gift of silence, reports cash buyer GMS. “From Chattogram to Gadani, Alang to Aliağa, the holy festival has pressed pause on an industry that was already beginning to feel the compounding weight of war, currency volatility, and a stubborn absence of fresh tonnage offerings.”The ongoing conflict in the Middle East…
Port of Oakland: Exports Continue to Outperform Imports
The Port of Oakland processed 163,254 TEUs in February 2026, a 16.7% decline from January and a 14.5% decrease year over year, as vessel activity slowed due in part to observation of the Lunar New Year.Vessel calls declined from 86 in January to 72 in February, due partially to planned blank sailings tied to factory closures during Lunar New Year. Blank sailings are pre-scheduled vessel cancellations used by carriers to align capacity with demand.Despite fewer ship arrivals…
Fred. Olsen 1848 Completes Pilot Installation of Tension Buoy
Fred. Olsen 1848 has completed a pilot installation of four automatic Tension Buoy units at the EDP Floating PV Lab, Europe’s first open-access laboratory dedicated to testing technologies for floating and hydro solar power generation.With water levels that rise and fall by as much as 50 meters, this Portuguese dam lake is a great testing ground for the adaptive mooring system, says the company.Tension…
Aker Solutions Wins FEED Contract for Lithuania COâ‚‚ Terminal
Aker Solutions has been awarded a front-end engineering and design (FEED) contract by KN Energies to support the development of the company’s CO₂ transshipment terminal infrastructure project in Klaipėda, Lithuania.The project forms part of the CCS Baltic Consortium, which aims to develop the first cross-border carbon capture, transport, and storage (CCS) network in the Baltic region. The Klaipėda…
Iran Trades Threats with Trump
Iran said on Sunday it would strike the energy and water systems of its Gulf neighbours in retaliation if U.S. President Donald Trump follows through with a threat to hit Iran's electricity grid in 48 hours, escalating the three-week-old war.The prospect of tit-for-tat strikes on civilian infrastructure could deepen the regional crisis and further rattle global markets when they reopen on Monday morning.Air raid sirens sounded across Israel from the early hours of Sunday…
DCA’s Doyle Delivers Vigorous Jones Act Defense at Dredger Christening
In a maritime market increasingly defined by volatility, from war in the Middle East and the resulting whiplash freight and energy rates, William Doyle chose a moment of celebration in New Orleans to deliver a message grounded in something far less fashionable: stability.Speaking at the March 21 christening of Frederick Paup, a 15,000-cubic-meter trailing suction hopper dredge built for Manson Construction…
US to Deploy Amphibious Assault Ship, Marines to Middle East
The U.S. military is deploying a large amphibious assault ship with thousands of additional Marines and sailors to the Middle East, three U.S. officials told Reuters on Friday, as Iran's new supreme leader hailed Iran's "unity" and "resistance".Reuters had reported that Washington, desperate to reopen the Gulf oil bottleneck of the Strait of Hormuz, shut by Iran since the U.S. and Israel attacked almost three weeks ago…
Indian Gas Tankers Prepare to Sail Through Strait of Hormuz
Two Indian-flagged liquefied petroleum gas tankers are preparing to sail through the Strait of Hormuz in coming days after a pause in voyages, with no crude oil tankers having transited the waterway in the past 24 hours, according to shipping data and sources.Hundreds of vessels have dropped anchor since Tehran threatened to attack ships attempting to leave the Gulf via the Strait of Hormuz, through…
Damaged Russian Tanker Drifts Towards Libyan Shores, Only Days Away
A damaged Russian LNG tanker that has been drifting unmanned in the Mediterranean for more than two weeks, risking a major ecological disaster, is four to six days from Libya’s shores, an Italian official said on Friday.The Arctic Metagaz, carrying LNG from the Arctic port of Murmansk, has been unmanned since early March, when it was hit by Ukrainian naval drones, according to Russia's Transport Ministry.Kyiv has not claimed responsibility for any such attack.The tanker is currently in internati
Tanker Bound for Cuba with Fuel Cargo Diverts to Trinidad
A tanker carrying fuel originally bound for Cuba on Friday changed its destination to Trinidad and Tobago, according to LSEG ship-tracking data, a blow for the island amid a severe fuel scarcity that has triggered power blackouts.The Hong Kong-flagged vessel Sea Horse loaded a diesel cargo earlier this year through a ship-to-ship transfer in the Mediterranean before setting sail to the Caribbean.The Russian-origin cargo was bound for Cuba…
