SBM Offshore, Solstad to Build New Deepwater Installation Vessel
SBM Offshore and Solstad Offshore have formed a joint venture that has entered into a letter of intent with a shipyard for the construction of a multi-purpose deepwater installation and construction vessel, with delivery targeted in the first half of 2029.The vessel will be owned by a joint venture in which Solstad Offshore will hold a 50.1% stake and SBM Offshore 49.9%. Solstad Shipping will act as ship manager, while SBM Offshore will charter the vessel for its own projects.
Cambodia Starts UN Process to Resolve Maritime Dispute with Thailand
Cambodia said on Tuesday it had launched a compulsory conciliation process under international law aimed at resolving a long-running maritime boundary dispute with Thailand and had informed the United Nations and Bangkok.The move follows a Thai government decision last month to unilaterally terminate a 2001 agreement with Cambodia that provided a framework for negotiations over the disputed area in…
Oil Prices Edge Lower Amid Uncertainty Over US-Iran Deal
Oil prices trended lower on Tuesday following the previous session's sharp gains as the market remained cautious about progress in U.S.-Iran peace talks.U.S. President Donald Trump said on Monday talks with Iran were ongoing, while Tasnim news agency reported earlier that Tehran had suspended indirect negotiations with Washington.Brent crude futures LCOc1 lost 53 cents, or 0.56%, to $94.45 a barrel at 0649 GMT, while U.S.
NYK Launches Long-Term Trial of 100% Biofuel
NYK has commenced a one-year long-term trial involving the continuous use of 100% biofuel (B100) on an NYK-operated car carrier.The biofuel primarily comprises Fatty Acid Methyl Ester (FAME) derived from used cooking oil and similar feedstocks.The initiative is designed to evaluate the fuel’s effects on the vessel’s equipment and verify operational safety under real-world conditions.Amid growing global demand for decarbonization…
IMO treaty on Hazardous and Noxious Cargo to Enter into Force in 2027
The International Convention on Liability and Compensation for Damage in Connection with the Carriage of Hazardous and Noxious Substances by Sea (2010 HNS Convention) is set to enter into force on 29 November 2027, marking a milestone for shipping’s global liability and compensation regime as increasing volumes of chemicals and alternative fuels are transported by sea.The conditions for the treaty’s entry into force were met on 29 May 2026…
FMC Welcomes Commissioner Robert J. Harvey
On June 1, Robert J. Harvey of Florida was sworn in as a Commissioner of the Federal Maritime Commission.Harvey was nominated by President Trump on September 3, 2025, to serve on the Commission for a term expiring on June 30, 2029. The United States Senate confirmed his nomination on May 18, 2026, and President Trump appointed him to the Commission on May 28, 2026.Harvey previously served as the President and Executive Director of the Florida Opportunity Fund…
Davie Defense Breaks Ground on Texas Shipyard Modernization
Davie Defense has broken ground on the modernization of the Gulf Copper shipbuilding facilities in Galveston and Port Arthur.This investment in America's maritime industrial base marks the return of complex shipbuilding to Texas for the first time in decades, says Davie Defense.The first phase of the shipyard upgrade, which overall could reach $1 billion, is scheduled for completion in 2028. This coincides…
Chinese Aircraft Carrier Held Drills East of Philippines
The Chinese navy was spotted conducting aircraft carrier drills in the Pacific Ocean east of the Philippines last week, Japan's defence ministry said in a bulletin on Monday.The Japan Maritime Self-Defense Force confirmed that China's aircraft carrier Liaoning and accompanying vessels were cruising the waters east of the Philippines' Luzon Island between May 26 and May 28, said the bulletin, which…
IMO: Still Too Risky to Move Seafarers Out of Gulf
Despite the current ceasefire between the United States and Iran, it remains too risky to move the thousands of sailors stuck in the Gulf, the head of the IMO said."We will not be able to activate anything until the root causes are addressed and there is more of a final agreement, a ceasefire, or complete agreement, between the parties involved in the conflict," Arsenio Dominguez, secretary-general…
Venezuela's Oil Exports Rose in May
Venezuela's oil exports rose slightly to 1.25 million barrels per day in May, its third consecutive month of increase, fueled by more cargoes to the U.S., India and Europe, shipping data showed on Monday.Under the U.S.-supported government of interim President Delcy Rodriguez, Venezuelan crude production and exports have bounced this year as Washington eased sanctions and foreign companies expanded…
Ship Executives Push for Hormuz to Return to Normal
Shipping executives meeting in Athens on Monday said that any peace deal worked out between the United States and Iran would need to offer clear rules allowing vessels to resume normal business via the Strait of Hormuz.Shipowners and maritime industry officials met at a Capital Link conference and other events to begin Posidonia, a week-long biennial shipping exhibition.Below are selected quotes (in alphabetical order):ARSENIO DOMINGUEZ…
New Gulf Coast Shipyard Sports 660-ton Marine Travelift
Taylor Marine Construction, Inc. announced the startup of Taylor Marine Shipyard, a new Gulf Coast commercial vessel repair and haul-out facility positioned on Dickinson Bayou, immediately adjacent to the Houston Ship Channel near Lights 45 and 46. The shipyard is scheduled to place its 660-ton Marine Travelift into full commercial service in August 2026. The Travelift dramatically expands heavy marine…
Freire Shipyard Lays Keel for Aquaculture Harvest Vessel
Freire Shipyard has celebrated the keel laying of the Tauriko, the new harvest vessel being built for the Norwegian group Napier. The vessel will become the largest in the Nordic company's fleet and the world's largest harvest vessel of its kind within the aquaculture sector. Delivery is scheduled for 2027.Designed in collaboration with Salt Ship Design, the Tauriko represents the next generation of Napier vessels for the Norwegian aquaculture industry…
Schottel Opens Indian Subsidiary
Schottel is expanding its international network with the establishment of a new subsidiary in India. With Schottel India Sales and Service Private Limited, the German propulsion company is further strengthening its presence in a rapidly developing maritime market and creating the basis to deepen collaboration with local customers and partners. Based in Pune, the new subsidiary will focus on newbuild and retrofit sales as well as after-sales service…
MARTAC, Mystic Powerboats to Expand ASV Production Capacity
Maritime Tactical Systems, Inc. (MARTAC), a provider of autonomous unmanned surface vehicles (USVs), and Mystic Power boats, a leader in high-performance composite vessel construction, announced a co-production partnership to increase MARTAC’s domestic production capacity to meet growing requirements from U.S. and allied customers.MARTAC’s partnership with Mystic is the first of several pending domestic…
ABS: Rising Complexities Demand New Approach to Tech Adoption
“Access to innovation is no longer enough. Competitive advantage will be defined by how effectively we turn technology into safe, reliable performance at sea," said John McDonald, ABS Chairman and CEO at Capital Link at the start of Posidonia, as he set out the urgent need to close the gap between rapid technological advancement and real-world performance.He highlighted the increasingly complex operating environment facing shipping…
Sullivan Street Partners, Ancora Group Acquire Red7Marine
Sullivan Street Partners, a UK-based private equity firm specializing in mid-market buy-outs, announced that its portfolio company Ancora Group, an integrated group of marine contractors delivering infrastructure and coastal defense solutions across the UK, has completed the acquisition of Red7Marine, a UK marine infrastructure and engineering work specialist.This is Ancora Group’s first acquisition since it was acquired by Sullivan Street in March 2025…
Inchcape Shipping Launches NVOCC Service in the United States
Inchcape Shipping Services announced the launch of its new Non-Vessel Operating Common Carrier (NVOCC) service in the United States. The launch follows the company's receipt of an Ocean Transportation Intermediary (OTI) license from the Federal Maritime Commission (FMC), authorizing Inchcape Shipping Services to operate as a licensed NVOCC for cargo moving to and from the US. The new service marks an expansion of Inchcape Shipping Services' capabilities…
Wind-Powered Cargo Ships Pass the 100-Vessel Milestone
The latest installations of wind propulsion technology on large commercial vessels have pushed the global fleet of cargo ships capable of harnessing wind energy beyond the 100-vessel milestone, representing over five million tons of deadweight (DWT) cargo carrying capacity.The passing of this milestone marks a turning point in the uptake of wind propulsion in the commercial fleet. What was once widely…
Sanmar Shipyards Wins Orders for 10-Tugboats
Sanmar Shipyards won new build contracts for up to 10 tugboats, a milestone agreement that coincide with the shipbuilder's 50th anniversary.The contracts include fleet expansions for long-standing partners SAAM Towage and HAISEA Marine, as well as a landmark inaugural agreement with FAIRPLAY TOWAGE GROUP.On Wednesday, May 20, Sanmar formalized a new agreement with long-term partner SAAM Towage for five new vessels: four RAmparts 2400SX-MKIl tugboats and one RAstar 2900SX tugboat.
