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Grieg Maritime Group has signed a contract with GT Wings to install at least two of their AirWing20 on their fleet.Energy efficiency will be crucial for both climate action and commercial success going forward. Waiting for new fuels and new ships will not be enough to succeed; measures must also be implemented on the existing fleet.The GT Wings AirWing20 is a Jet Sail that will enable Star Kirkenes to take advantage of the wind, reducing fuel consumption.The AirWing was selected for its high thrust output and compact footprint…

Many claim to have ‘saltwater in their veins,’ but all you have to do is walk into the corner office of John McDonald, the new Chairman and CEO of the American Bureau of Shipping (ABS), to see that him saying “I was born into maritime” is not hyperbole. The first thing that greets you is a Dusan Kadlec nighttime painting of the Brooklyn Bridge, a painting that has special meaning to him as he fondly remembers being on a boat in New York harbor in 1983, his father USCG Captain of the Port of New York at that time, watching the fireworks over the bridge for the celebration.

The Port of Los Angeles said it has secured about $70 million in federal funding for harbor maintenance and infrastructure upgrades, marking its largest allocation to date.The funding, provided by the U.S. Army Corps of Engineers from the Harbor Maintenance Trust Fund, will support projects including dredging, seismic upgrades and navigational safety improvements.The San Pedro Bay port complex, which includes Los Angeles and Long Beach, received a combined $131.8 million allocation.The trust fund is financed through a cargo tax paid by U.S.

Stolt-Nielsen Limited opened 2026 with a solid—if more tempered—financial performance, underscoring both the resilience of its diversified logistics portfolio and the mounting pressures facing global chemical shipping markets.The London-based group reported first-quarter revenue of $716.8 million and net profit of $47.5 million for the period ending February 28, 2026, compared to $675.6 million and $151.4 million, respectively, in the same period a year ago. The sharp year-on-year profit decline was largely attributable to one-off gains booked in 1Q25…

Shippers on Wednesday said they needed more clarity on the terms of the U.S.-Iran ceasefire before resuming transit through the Strait of Hormuz, as Iran said the waterway remained closed to vessels sailing without a permit.The six‑week conflict had brought traffic through the strait - a chokepoint for about 20% of global oil and liquefied natural gas (LNG) shipments - close to a standstill, pushing global energy prices sharply higher.Iran said it would offer safe passage in coordination with its armed forces…

Oil prices rose on Thursday as doubts over a fragile two-week Middle East ceasefire raised concerns that energy flows through the crucial Strait of Hormuz will remain restricted.Brent crude futures LCOc1 were up $2.18, or 2.3%, at $96.93 a barrel at 0645 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 rose $3, or 3.18%, to $97.41 a barrel.Both benchmarks fell below $100 per barrel in the previous trading session, with WTI recording its biggest decline since April 2020…

The Energy Workforce & Technology Council released its March 2026 jobs report, showing a modest rebound in energy services employment following declines earlier in the year.Energy services employment totaled 627,018 jobs in March, an increase of 1,877 positions from February, according to preliminary data from the Bureau of Labor Statistics (BLS) and Energy Workforce analysis.March’s gains reflect a measured increase in activity across the sector, as companies continue to operate with discipline while responding to improving market conditions.At the national level, the U.S.

Shippers said on Wednesday they needed more clarity on the terms of the U.S.-Iran ceasefire before resuming transit through the Strait of Hormuz, as Iran issued fresh warnings about any vessels attempting to sail through the waterway.The six‑week conflict had brought traffic through the strait - a chokepoint for about 20% of global oil and liquefied natural gas (LNG) shipments - close to a standstill, pushing global energy prices sharply higher.Iran said it would offer safe passage in coordination with its armed forces…

Malaysia-based offshore support vessel (OSV) provider Nam Cheong has secured OSV charter contracts worth up to $25 million, as demand for vessels remains firm in Southeast Asia.The contracts cover one anchor handling tug supply (AHTS) vessel and one maintenance work vessel, each with a firm charter period of up to two years starting in 2026, with options to extend for an additional year.The AHTS vessel has been chartered to Offshore Oil Engineering and began operations in the first quarter of 2026…

Subsea Cable Assets (SCA) has secured its first framework contract with 50Hertz to deliver cable storage and handling systems for power grid projects in Germany.The contract, awarded through a European tender process, covers the engineering, manufacturing, delivery, installation and commissioning of four cable carousel systems, including associated loading equipment.SCA said the systems are designed to support both offshore and onshore grid infrastructure, ensuring reliable transmission…

Hapag-Lloyd voiced cautious optimism on Wednesday on the prospect of resuming shipping through the Strait of Hormuz after a two-week ceasefire agreed between the U.S. and Iran, but said that resuming normal traffic throughout its network would take at least 6-8 weeks.Speaking in a call to customers, CEO Rolf Habben Jansen echoed guarded remarks by peer container shipping group Maersk, saying that more security assurances were needed. “Even if a ceasefire has now been agreed overnight…

Maersk said on Wednesday the two-week ceasefire agreed between the U.S.

Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume.The news capped weeks of market volatility and geopolitical upheaval after U.S. and Israeli strikes on Iran at the end of February pushed tensions to the brink, with Tehran effectively choking off the strategic waterway that typically carries about 20% of the world’s oil and gas.U.S.

Hong Kong-based conglomerate CK Hutchison's Panama unit has launched an arbitration against Maersk after the takeover of two strategic ports near the Panama Canal which are at the center of a legal battle that has embroiled Beijing and Washington.In a statement, Panama Ports Company (PPC) said Maersk broke a long-term contract by siding with the Panamanian government to help remove PPC from its operations at the Balboa port and replace it with a Maersk-affiliated operator."Contrary to the contract…

HII and GrayMatter Robotics (GMR) have signed a memorandum of understanding to explore the integration of GMR’s Physical AI into shipbuilding operations that could accelerate throughput.This will include bringing autonomous surface preparation, coating, and inspection technologies into shipbuilding.Eric Chewning, HII’s executive vice president of maritime systems and corporate strategy, said: “We are in the midst of an American shipbuilding renaissance and we are extremely excited…

Mesabi Metallics, backed by Essar Group, has secured $150 million of financing from Macquarie Group, supporting the Q3 2026 startup of its world-scale Direct Reduction (DR) grade iron ore mine and pellet plant in Nashwauk, Minnesota.The financing follows Mesabi's recently announced $520 million senior secured credit facility with Breakwall Capital, further reinforcing the strong momentum behind the project.Mesabi has also recently received support from the U.S. Export-Import Bank (EXIM), reflecting the project's growing strategic importance to U.S.

China and Russia on Tuesday vetoed a U.N. resolution encouraging states to coordinate efforts to protect commercial shipping in the Strait of Hormuz, calling the measure biased against Iran, while Washington's ambassador to the world body called on "responsible nations" to join the U.S. in securing the waterway.The 15-member Security Council voted 11 in favor of the resolution presented by Bahrain, with two against - China and Russia - and two abstentions.U.S. President Donald…

For centuries, shipowners have fought a persistent enemy beneath the waterline: biofouling. Barnacles, algae, slime and other marine organisms attach themselves to hull surfaces, increasing hydrodynamic drag and reducing vessel efficiency. Traditionally, the fight against fouling relied on antifouling coatings, diver cleaning teams, and periodic drydock maintenance. But in the last decade, a new class of underwater robotics has begun to change that equation.Robotic hull-cleaning systems…

Swan Defence and Heavy Industries Limited (SDHI) has secured an order from Energy ONE Limited to build four ammonia dual-fuel bulk carriers, marking the first such vessels to be constructed in India.The contract covers four 92,500-deadweight tonne bulk carriers, which will be among the largest commercial ships built at an Indian yard, the company said.The vessels will measure about 229.5 meters in length with a beam of 37 meters and will be equipped with ammonia-fueled propulsion systems.

The United States Coast Guard (USCG) has rescued a family of three who had been missing for seven days in waters off the Federated States of Micronesia.The crew of the USCGC Midgett located the family on April 6 after authorities reported the vessel overdue following its departure from Fananu Island on March 30.The 23-foot skiff, carrying two men and one woman, had suffered an engine failure during what was intended to be a short journey to Murillo Island, the Coast Guard said.The search area expanded to more than 14…

A group of Democratic U.S. senators on Tuesday pressed Treasury Secretary Scott Bessent on whether enormous tankers that ship liquefied natural gas qualify for a lucrative tax credit meant for smaller boats that burn the fuel.Here are details about the issue.The Alternative Fuel Excise Tax credit, signed by former President George W. Bush in 2005, was meant to decrease oil dependence by subsidizing a transition among smaller motorboats to alternative fuels, such as natural gas…

Rising temperatures and humidity are increasingly compromising cargo integrity during transit, making prevention essential for operational resilience.Climate change is no longer a distant concern for shipping. Across Southeast Asia, rising temperatures and humidity, and more volatile weather patterns are increasingly affecting cargo integrity during transit.The past decade has been the hottest on record, with global temperatures rising by around 1.1ºC since 1880. At sea, this warming is amplified.

Oil prices climbed on Tuesday and U.S. crude was on track for its highest close since 2022 ahead of a deadline set by U.S. President Donald Trump for Iran to open the Strait of Hormuz or face attacks on power plants and other infrastructure.Brent futures rose 63 cents, or 0.6%, to $110.40 a barrel at 10:41 a.m. EDT (1441 GMT), while U.S. West Texas Intermediate (WTI) crude rose $3.95, or 3.5%, to $116.36.Typically WTI trades at a discount to Brent, but this has reversed in a market where barrels for earlier delivery command a higher price.