Offshore News

A new engineering design and commercial advisory company focused on offshore wind, subsea transmission and marine infrastructure projects has launched in Ireland under the name of Insight Marine, targeting growing demand for specialist support across the global maritime sector.Headquartered in County Wicklow, Insight Marine has been established to provide engineering design, technical advisory and commercial services to offshore wind developers, transmission system operators, port owners…

A new engineering design and commercial advisory company focused on offshore wind, subsea transmission and marine infrastructure projects has launched in Ireland under the name of Insight Marine, targeting growing demand for specialist support across the global maritime sector.Headquartered in County Wicklow, Insight Marine has been established to provide engineering design, technical advisory and commercial services to offshore wind developers, transmission system operators, port owners, investors, contractors and supply-chain companies operating in marine environments.The company was founded by Paul Doherty, who has more than two decades of experience in offshore wind…

Oil prices rose on Friday as the prospect of a lasting truce between the U.S. and Iran was clouded after peace talks in Switzerland were called off and as Israel stepped up attacks on Lebanon.By 0645 GMT, Brent crude futures LCOc1 gained 51 cents, or 0.64%, to $80.36 a barrel, and U.S. West Texas Intermediate crude CLc1 rose $1.28, or 1.7%, to $77.88 a barrel, with the front-month July contract expiring on Monday. Both contracts were headed for a weekly loss of about 8%.The more actively traded WTI August contract CLc2 was up 59 cents at $76.44 a barrel.Switzerland said U.S.

CORE POWER has launched a feasibility study to evaluate the use of BWX Technologies' mPower small modular reactor (SMR) technology in floating nuclear power plants designed to be built in shipyards and deployed near energy demand centers.The study will assess technical, regulatory and commercial pathways for integrating BWXT's mPower reactor design into floating nuclear facilities, the company said on Tuesday.The mPower reactor was originally developed as a Generation III+ integral…

U.S. liquefied natural gas producer (LNG) Venture Global and German utility EnBW have signed new binding agreements for the supply of approximately 0.82 million tonnes per annum (mtpa) of LNG over a period of about five years beginning in 2026.The LNG will be supplied from Venture Global's portfolio and adds to the companies' existing long-term sales and purchase agreements covering 2 mtpa over 20 years.The new agreements strengthen Venture Global's position as a supplier of LNG to Germany and Europe…

Oil prices fell by more than $2 per barrel on Thursday after the U.S. and Iran signed an interim agreement that would end the Iran war, reopen the Strait of Hormuz and waive U.S. sanctions on Tehran's oil, boosting the oil supply outlook.Brent crude futures LCOc1 were down $2.14, or 2.69%, at $77.41 a barrel as of 0616 GMT, and U.S. West Texas Intermediate CLc1 fell $2.36, or 3.07%, to $74.43 a barrel.Brent sank to its lowest since March 2, which was the first day of trading after the U.S.

The world oil market will recover gradually from the closure of the Strait of Hormuz before tipping into a significant surplus in 2027, the International Energy Agency said in its monthly oil market report on Wednesday.The U.S. and Iran reached an agreement to end the three-month-old war, which includes Iran reopening the Strait of Hormuz and the U.S. lifting its naval blockade, potentially bringing an end to the largest oil supply disruption in history which shut in over 14 million barrels per day of Middle East oil output…

At least three tankers carrying Iranian oil have sailed through the U.S. naval blockade this week, with a fourth, an empty vessel, heading towards the Gulf of Oman, after the U.S. and Iran agreed a framework deal to reopen the strategic Strait of Hormuz, shipping data showed.The shipments indicate a gradual resumption of Iranian oil exports that are expected to add to global supplies although demand from China, its biggest buyer, has been lacklustre due to poor domestic margins.Very Large Crude Carriers Hero II and Diona…

Oslo-listed consultancy company ABL Group plans to change its name to Aqualis, seeking to eliminate confusion created by the use of ABL as both the name of the listed parent company and one of its operating businesses.The group provides marine, energy, engineering and technical consulting services to the renewables, maritime and oil and gas industries through a portfolio of specialist brands.Under the new structure, Aqualis will serve as the parent company, while the group's four operating brands will continue to operate independently.

Europe will require a dedicated fleet of around 65 CO2 carriers and a network of 33 ports by 2050 to support the large-scale deployment of carbon capture, utilization and storage (CCUS), according to a new study led by energy consultancy Xodus.The CCUS Enabling Infrastructure Study, prepared by Xodus on behalf of the Net Zero Technology Centre (NZTC) and supported by EBN, the Port of Rotterdam, Gasunie and Offshore Energies UK, examined the infrastructure needed to transport captured…

Gulf Marine Services (GMS) has retuned to service all four of its self-propelled, self-elevating support vessels that were temporarily evacuated from one Gulf country due to the prevailing geopolitical situation.The UAE-headquartered offshore support vessel operator said the fourth and final vessel has successfully resumed operations, restoring the affected fleet to full contracted utilization under its existing contracts.GMS maintained its adjusted EBITDA guidance for 2026 in the range of $105 million to $115 million…

Offshore services provider Bourbon has secured a multi-month subsea services contract for operations on the Jubilee field offshore Ghana, deploying the multi-purpose support vessel (MPSV) Bourbon Evolution 802 for a campaign covering inspection, maintenance and repair activities.The contract includes the use of the Bourbon Evolution 802, equipped with two work-class heavy-duty remotely operated vehicles (ROVs), to perform inspection, maintenance and repair (IMR) services on subsea wellheads…

AD Ports Group and offshore wind equipment manufacturer Dajin Heavy Industry have signed a memorandum of understanding (MoU) to explore cooperation in offshore wind supply chain development, maritime logistics, port infrastructure and strategic vessel investments.The agreement builds on AD Ports Group's recent expansion in the offshore renewable energy sector, including partnerships with Masdar, Siemens Energy and Green Parrot, as well as its acquisition of Spain's Balenciaga Astilleros shipyard…

Britain imposed fresh sanctions on Russia on Tuesday, targeting Yandex Bank, a network linked to Russian military intelligence and dozens of vessels accused of shipping Russian oil and gas to third countries as part of Moscow’s "shadow fleet."The package, covering 70 new designations, also covered insurer Rosgosstrakh, Evofinance Mosnarbank and Wildberries Bank, and are part of British efforts to step up pressure on the financial and logistics networks it says are helping the Kremlin in its war in Ukraine."These sanctions target the vessels, the money and the actors propping up Russia’s war ec

SeaRenergy Offshore Holding GmbH, a service provider for the offshore wind industry, is restructuring its management team to align its leadership organization with the company’s next phase of growth.After 24 years of service to the Rickmers family and having played a defining role in SeaRenergy since its founding in 2010, Jan Boje Steffens will retire on June 30, 2026. As one of the key architects behind the establishment of SeaRenergy, he has shaped the company from its inception and helped build it into what it is today.Going forward…

NYK, Yanmar Power Solutions and ENEOS have agreed to install a hydrogen fuel cell system on a new dining cruise vessel scheduled to enter service in 2027, as the companies seek to advance the use of hydrogen in the maritime sector.The vessel will replace Lady Crystal, which currently operates in the Tennoz Isle area of Tokyo as part of the NYK Group's passenger cruise business.Under the project, Yanmar Power Solutions will design the hydrogen fuel cell system, while hydrogen storage…

Japanese shippers welcomed on Monday the U.S.-Iran peace agreement which will reopen the Strait of Hormuz but are awaiting more details of the deal and clearance of mines before allowing their ships to pass the chokepoint.According to the association, 38 Japanese-linked vessels remain stranded in the Strait of Hormuz.The U.S.-Israeli war with Iran that began on February 28 has largely stopped shipping through the strait, the transit route for roughly a fifth of the world's oil and liquefied natural gas supply…

Oil prices slipped to a three-month low on Monday after U.S. President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.Brent crude futures LCOc1 fell $3.65, or 4.2%, to $83.68 a barrel by 0630 GMT and U.S. West Texas Intermediate CLc1 was at $80.75, down $4.13, or 4.9%. Both contracts fell to their lowest levels since March 10 on Monday after tumbling more than 3% on Friday.The U.S.

BP has started a process to sell stakes in two of its Gulf of America projects, four people with knowledge of the matter said, in what would be one of new CEO Meg O'Neill's first moves.BP, one of the largest operators in the Gulf of America, has been weighing a sale of minority stakes in the Kaskida and Tiber projects for more than a year, with each estimated to be worth billions of dollars to the company, Reuters has previously reported.The four people did not give the size of…

Oil prices fell more than 2% on Friday, extending losses from the previous session after U.S. President Donald Trump cancelled plans to strike Iran, reducing fears of an escalation of hostilities following tit-for-tat attacks earlier in the week.Brent futures LCOc1were down $2.11 or 2.3% at $88.27 a barrel by 0640 GMT, while U.S. West Texas Intermediate (WTI) CLc1 crude dropped $1.90, or 2.2%, to $85.81.Trump called off planned strikes on Thursday, saying discussions with Iran…

All three missing Indian seafarers have died after a U.S. military strike on a tanker in the Gulf of Oman, Indian Shipping Minister Sarbananda Sonowal said on Thursday.The U.S. said its military carried out a "precision" strike on the vessel that failed to follow its instructions and was carrying oil from Iran.Indian sources told Reuters that New Delhi had summoned the U.S. deputy chief of mission after lodging a "strong protest" on the strike.(Reuters - Reporting by Hritam Mukherjee; Editing by YP Rajesh)

Three more liquefied natural gas tankers have exited the Strait of Hormuz with their transponders off and are bound for destinations in Asia, although the exact timing of their transit is unclear, ship-tracking data from LSEG and Kpler showed.This comes as the United States and Iran traded air attacks for a second straight day on Thursday, with U.S. President Donald Trump vowing further strikes unless Tehran agrees to a peace deal and Washington saying it fired on a vessel carrying…

The United States has become the world's largest oil exporter, upending a decades-old order long dominated by Saudi Arabia and Russia, a shift that tightens American companies' grip on energy markets as Washington's war with Iran reshapes global energy trade.America's ascendancy to the top spot marks a stunning reversal for a country that was dependent on Middle Eastern oil for decades and suffered from an oil embargo imposed by some OPEC members in 1973 to retaliate against U.S. support for Israel.U.S.

Saudi Arabia and neighbouring Gulf producers will cheer the eventual reopening of the Strait of Hormuz, but the ensuing flood of oil risks eroding OPEC’s already fragile grip on the market.The Iran war and the closure of the vital waterway – through which nearly a fifth of the world’s oil and gas flowed before the conflict – have sharply diminished output from the Organization of the Petroleum Exporting Countries and moved the industry’s centre of gravity away from the Middle…

The American Bureau of Shipping (ABS), HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and HD Hyundai Heavy Industries (HD HHI) have completed a joint development project for a high-efficiency 16,000-TEU ultra-large container ship equipped with a battery hybrid system.ABS awarded approval in principle (AiP) to HD KSOE and HD HHI for the vessel's electrical analysis and electrical design following design reviews conducted in accordance with class requirements.The project…

Exmar has taken delivery of MGC ANTWERPEN, deemed by the Belgian shipping company as the world's first oceangoing vessel powered by a dual-fuel ammonia engine.The newbuild mid-size gas carrier is capable of carrying up to 46,000 cubic meters of ammonia or liquefied petroleum gas and can operate with close to zero emissions when fueled by low-carbon ammonia.Exmar said the vessel was developed in collaboration with HD Hyundai Heavy Industries, WinGD, Nord Gas Solutions and Lloyd's Register.According to the company…

Mitsui O.S.K. Lines (MOL) and Japan Airlines (JAL) have entered into an agreement with Lloyd's Register and U.S.-based REGENT Craft to jointly develop certification and operational approval processes for REGENT's fully electric Seaglider vessel, as the companies work toward commercial deployment in Japan.The initiative marks the first collaboration in Japan involving a classification society aimed at supporting the commercialization of Seaglider vessels.Seagliders are fully electric wing-in-ground effect craft that operate a few metres above the water surface using ground effect.

The U.S. military carried out a "precision" strike on a vessel in the Gulf of Oman that failed to follow its instructions and was carrying oil from Iran, it said, while India said three Indian seafarers were missing after the attack on the tanker.The U.S. began a blockade of Iran-related shipping on April 13 after Iran severely curtailed shipping through the Strait of Hormuz, a major global oil and gas route.The U.S. military's Central Command (Centcom) said a U.S. aircraft "fired…

Oil prices were steady on Wednesday, as renewed U.S.-Iran hostilities muddied direction, though a forecast U.S. stock draw offered support.Brent futures LCOc1 were up 25 cents, or 0.27%, to $91.70 a barrel at 0736 GMT, while U.S. West Texas Intermediate crude CLc1 was up 23 cents, or 0.26%, to $88.43 a barrel.Prices traded higher earlier on renewed strikes between the U.S. and Iran, before retreating towards the previous session's close.Global stock draws are underpinning prices…

Norway's parliament on Tuesday ordered the government to review its planned subsidy for the country's first commercial floating offshore wind farm, raising concerns of a full development stop and a wider impact on energy transition projects.A proposal by the opposition Conservative Party seeking financial scrutiny of a 35 billion Norwegian crowns ($3.70 billion) subsidy for floating wind was supported by the Progress Party, the Christian People's Party, and the far-left Red Party.The minority government wants to support the construction of a 500 megawatts (MW) project at Utsira Nord off Norway

Crane specialist Liebherr will supply six RL 2600 offshore cranes for TenneT's 2 GW offshore wind transmission projects in the Netherlands under a contract with Singapore-based engineering, procurement and construction contractor Seatrium.The cranes will be installed on the IJmuiden Ver Beta, IJmuiden Ver Gamma and Nederwiek Beta offshore converter platforms, with two cranes allocated to each platform. Deliveries will be phased to ensure all units are in place ahead of the planned…

Anemoi Marine Technologies and its partners have completed a joint development project aimed at simplifying the integration of Rotor Sail wind propulsion systems on medium-range (MR) tankers, with classification society DNV granting Approval in Principle (AiP) for the design.The project was developed in collaboration with Guangzhou Shipyard International (GSI) and tanker operator Hafnia and focused on integrating two folding, explosion-rated Rotor Sails into an MR tanker design.The…

Hydrogen of Dutch Origin (H2DO) and its partners have launched a feasibility and concept study for a 30-50 MW offshore green hydrogen project in the Dutch North Sea, aimed at demonstrating how offshore hydrogen production could support the expansion of offshore wind capacity while reducing pressure on onshore infrastructure.The study, funded under the Dutch Topsector Energie (TSE) program, will evaluate the development of an offshore hydrogen production facility connected to shore by pipeline.The project seeks to convert electricity generated by offshore wind farms into green hydrogen at sea…

Hydrogen of Dutch Origin (H2DO) and its partners have launched a feasibility and concept study for a 30-50 MW offshore green hydrogen project in the Dutch North Sea, aimed at demonstrating how offshore hydrogen production could support the expansion of offshore wind capacity while reducing pressure on onshore infrastructure.The study, funded under the Dutch Topsector Energie (TSE) program, will evaluate the development of an offshore hydrogen production facility connected to shore by pipeline.The project seeks to convert electricity generated by offshore wind farms into green hydrogen at sea, helping to alleviate grid congestion and reducing the need for additional electricity transmission infrastructure.

Oil prices fell on Tuesday, erasing most of the previous session's gains, after Iran and Israel said they had halted attacks on each other following an appeal from U.S. President Donald Trump, though both sides warned they could resume hostilities.Brent crude futures LCOc1 were down $1.33, or 1.4%, at $92.92 a barrel at 0741 GMT, while U.S. West Texas Intermediate CLc1 declined $1.73, or 1.9%, to $89.57 a barrel.The market has been here before, said PVM Oil Associates analyst Tamas Varga…

Danish logistics specialist deugro has appointed Daniel Kjær as Vice President, Global Wind Renewable Energy, effective June 1, 2026.Based in Aarhus, Denmark, Kjær will be responsible for further developing and executing deugro’s global offshore wind strategy.In the newly announced role, Kjær will oversee global offshore wind business development while helping strengthen and expand the company’s wind chartering solutions and broader service offering. The position is intended to…

Hong Kong-listed provider of offshore, marine and clean energy technologies CM Energy has unveiled the design of its Meridian Class commissioning and service operation vessel (CSOV).The Meridian Class has been developed to meet growing demand for offshore support vessels, and is suitable for commissioning, operations, maintenance and major component exchange campaigns in the offshore wind sector.Designed to North Sea standards, the vessel platform aims to provide offshore wind developers…

Norway-based TMC Compressors has secured a contract from Yantai CIMC Raffles Offshore to supply marine compressed air systems for two subsea rock installation vessels being built for Dutch marine contractor Van Oord.Under the contract, TMC will provide a complete marine compressed air system for each vessel, including instrument air compressors and air dryers. Financial details of the contract were not disclosed.The vessels are being built to support subsea rock installation operations…

Sallaum Lines has taken delivery of two new Pure Car and Truck Carriers (PCTCs), the MV Ocean Express and MV Ocean Navigator, in the largest single-day milestone of its Ocean Class fleet expansion program.The vessels were built by China Merchants Jinling Shipyard (Jiangsu) and are registered under the Cyprus flag.Each vessel has a cargo capacity of 7,400 car equivalent units (CEU) across 13 cargo decks and is designed to transport passenger vehicles, commercial trucks, SUVs, rolling…

A bulk carrier managed by Wallem Group has rescued two Filipino fishermen from a sinking fishing boat near the Babuyan Islands off the Philippines while on a voyage from Australia to Vietnam.The vessel was carrying 80,000 tonnes of coal from Abbot Point, Australia, to Cam Pha, Vietnam when the crew spotted a distressed fishing boat at about 08:35 local time in May.According to Wallem, the fishermen were waving for assistance as their vessel encountered difficulties.Under the direction of the ship's master, the bulk carrier stopped and launched its rescue boat.

The OranjeWind offshore wind project, a joint venture between RWE and TotalEnergies, has signed a five-year charter agreement with Purus for the construction and service operation vessel (CSOV) Purus Power.The vessel will support planned and unplanned maintenance activities at the OranjeWind offshore wind farm under a contract that includes an option for extension.Purus Power has been purpose-built for offshore wind operations and is designed for extended stays at sea. The vessel features accommodation…

Oil prices jumped more than $4 on Monday, with investors spooked by fresh Israeli strikes on Iran as well as renewed attacks on Lebanon a day earlier.Brent crude futures LCOc1 rose $4.42 or 4.47% to $97.15 a barrel as of 0609 GMT, while U.S. crude futures were up $4.07 or 4.50% at $94.61 per barrel.Israel said on Monday it hit a petrochemical plant in Iran's southwest, along with strikes elsewhere on military targets. That's despite U.S. President Donald Trump reportedly telling…

DNV has awarded an Approval in Principle (AiP) to HD Hyundai Heavy Industries (HHI) for an independent Type B LPG cargo tank design for very large gas carriers (VLGCs).The approval covers HHI's design for a 90,000-cubic-metre independent Type B containment system for LPG carriers.According to DNV, the use of Type B tanks in VLGCs is intended to improve operational safety and maintenance accessibility throughout a vessel's service life, while providing greater flexibility in the…

Sempra Infrastructure has started liquefied natural gas (LNG) production at the ECA LNG Phase 1 project in Ensenada, Mexico, being developed as a joint venture with TotalEnergies.The production of LNG was achieved as part of the commissioning process ahead of commercial operations.The milestone marks the start of LNG production at the export facility and moves the project closer to full operations, which are expected in the coming months.Located on Mexico's Pacific Coast, the ECA LNG facility is designed to supply U.S.

Oil prices edged down after Oman said operations at Mina al Fahal port were proceeding normally, following a Reuters report that oil loadings had been suspended after an explosion.Brent crude futures LCOc1 fell 24 cents, or 0.25%, to $94.79 a barrel by 0704 GMT after settling down 2.84% in the previous session.U.S. West Texas Intermediate crude CLc1 was at $92.48 a barrel, down 56 cents, or 0.6%, following a 3.1% loss on Thursday.Both contracts are set to post their first weekly gain in three weeks…

The Arab Shipbuilding and Repair Yard Company (ASRY) has completed its 200th offshore rig project following the delivery of the VALARIS 250 (Bob Palmer) offshore rig project.The milestone was marked during a ceremony attended by executives and officials from ASRY and representatives from Valaris.ASRY said the VALARIS 250 belongs to the Gorilla Class category of offshore rigs, which it described as among the largest offshore rig designs currently operating worldwide.The project recorded more than 700…

According to the latest figures from DNV’s Alternative Fuels Insight (AFI) platform, 36 new orders for alternative-fuelled vessels were placed in May 2026.Activity was primarily driven by LPG/ethane carriers, which accounted for 26 of the orders. A further eight LNG-fuelled vessels were ordered, including six container vessels and two car carriers, alongside two ethanol-fuelled bulk carriers.So far in 2026, a total of 119 orders have been placed for alternative-fuelled vessels.

DNV and Kongsberg Maritime have entered into an agreement to enable the secure and standardized exchange of operational vessel data between Kongsberg Maritime’s digital fleet management solution and DNV’s Veracity platform.The agreement establishes a digital integration based on DNV’s Operational Vessel Data interface standard and API technology, allowing customers to share vessel operational data between the two platforms in a controlled and scalable manner.The integration is designed to support digital assurance services…

ABB has secured a contract from Cochin Shipyard to supply power and propulsion systems for two electric tugs being built under India’s Green Tug Transition Program (GTTP).The vessels, due for delivery to Polestar Maritime in 2027, will operate out of the Jawaharlal Nehru Port Authority (JNPA), India’s largest container port.The tugs form part of the first phase of the GTTP, which aims to transition India’s harbor tug fleet from conventional diesel-powered vessels to greener alternatives in five phases between 2024 and 2040.ABB’s scope of supply includes electrical…

A combination of contract terminations, spiraling insurance costs and the threat to EPC projects are creating a complex combination of risk for offshore operators in the Middle East Gulf.In its latest HORIZON Monthly Offshore report, MSI notes that, whilst contract terminations for rigs have been few, a return to pre-conflict levels could take months as fields are brought back onstream and construction projects get back up and running.Despite the relatively short-lived nature of many drilling suspensions…

VIKING Life-Saving Equipment has secured its first orders for the VIKING Pentagon Star, a new mass rescue device designed to enable the rapid recovery of large numbers of people from the water during maritime and aviation emergencies.Originally developed in response to a tender from a major coast guard, the device is now being introduced to the market after securing additional orders from airports in Scandinavia.The Pentagon Star is aimed at government and professional users in the defense, search and rescue, and civil aviation sectors.

Risk Intelligence has signed an agreement with an unnamed European maritime authority for the provision of its Risk Intelligence System and intelligence reports.The client is a national maritime authority responsible for supervising vessel and seafarer safety and security within its flag state registry, as well as overseeing foreign-flagged vessels calling at the country's ports.Under the agreement, the authority will gain access to the Risk Intelligence System and intelligence reports to support monitoring of security risks affecting vessels registered under its flag.

StormGeo and OceanScore have expanded their cooperation through a collaboration agreement aimed at supporting shipping companies in managing emissions compliance requirements.The cooperation combines StormGeo's operational vessel and emissions data capabilities with OceanScore's expertise in emissions compliance workflows covering the European Union Emissions Trading System (EU ETS), FuelEU Maritime and the upcoming UK ETS.The companies said the agreement is intended to help shipping companies manage emissions reporting…

Northern Lights JV has awarded a consortium comprising Kawasaki Kisen Kaisha (“K" LINE) and Malaysia's MISC Berhad a time charter contract for a newly built 12,000 cubic meter liquefied CO2 (LCO2) carrier, supporting the expansion of Europe's carbon capture and storage (CCS) infrastructure.The award follows Northern Lights' January 2026 announcement of four additional CO2 carriers to support planned capacity expansion. The latest contract marks the second vessel awarded to the “K” LINE-MISC consortium.The vessel will be constructed by Dalian Shipbuilding Offshore.

Two tankers carrying oil products exited the Strait of Hormuz over the past week, while a liquefied natural gas carrier loaded cargo in the United Arab Emirates, shipping data showed - rare movements as traffic through the chokepoint remains limited.Several tankers have managed to leave the Gulf in the past month, but oil and LNG flows are still severely constrained by the U.S.-Israeli war on Iran, which began on February 28. About a fifth of global oil and LNG supply normally passes through the Strait of Hormuz.Aframax tanker Cy Victorious…

Loading of a Taiwan-bound LNG tanker at the Inpex-operated 1605.T Ichthys plant in Australia has been delayed after a limited strike by workers disrupted operations at the terminal, according to the union and shipping data.The delay highlights supply risks from the facility that accounts for about 10% of LNG output in Australia, currently the world's second-largest producer of the super-chilled fuel after the U.S.-Israeli war with Iran damaged facilities in Qatar and drove up…

GustoMSC, NOV’s offshore design and engineering business, has developed a new asymmetrical rack-and-pinion technology designed to increase the jacking capacity of offshore wind installation vessels without increasing vessel size, weight or system complexity.The patent-pending asymmetrical rack-and-pinion (ASYM R&P) technology builds on the company’s existing rack-and-pinion jacking systems and is designed to improve load distribution within the existing system architecture, allowing…

MSC Mediterranean Shipping Company (MSC) has confirmed that its container vessel MSC Sariska V was struck by two projectiles while departing the port of Umm Qasr in Iraq on June 1, though no crew members were injured.According to the company, the first projectile hit the vessel while a pilot was onboard during departure from the port, while a second struck the crew accommodation area shortly afterwards.MSC said all crew members were safe and unharmed and that the vessel and its…

HD Hyundai Heavy Industries (HHI) and BAR Technologies have signed a memorandum of understanding (MoU) to establish a strategic partnership focused on technical collaboration and commercial opportunities for the integration of WindWings wind-assisted propulsion systems.The agreement establishes a joint engineering approach at the vessel design stage, with the companies collaborating on integrating the WindWings control system with HHI’s vessel control systems and developing performance…

Apollo has received an Approval in Principle (Level 2) from Bureau Veritas for its PALM Quick Connection System (QCS), a technology designed to simplify the connection and disconnection of dynamic cables from floating offshore wind turbines.The approval follows a 12-month full-scale front-end engineering and design (FEED) study funded by the Offshore Wind Growth Partnership and Wave Energy Scotland.Apollo said the certification confirms that the PALM QCS has been independently…

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 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 the Gulf of Thailand where the two countries' maritime claims overlap."We have taken this step to protect Cambodia's sovereignty and maritime rights in accordance with international law…

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. West Texas Intermediate CLc1 fell 56 cents, or 0.61%, to $91.60 a barrel.Both benchmarks rose more than 5% in the previous session…

The U.S. Department of the Navy has selected seven companies to advance to the at-sea testing phase of its Medium Unmanned Surface Vessel (MUSV) marketplace initiative.The companies selected for the MUSV Family of Systems development program are Sea Machines, Leidos, Saronic Technologies, Galliano Marine Services, PacMar Technologies, Birdon, and Huntington Ingalls Industries (HII).The Navy said companies whose vessels successfully complete at-sea testing will receive $15 million…

Berg Propulsion has signed a formal partnership agreement with Scotland-based Stone Marine Services (SMS) to expand service and support capabilities across the UK and Ireland.The non-exclusive agreement formalizes a long-standing relationship between the two companies and is aimed at strengthening support for Berg's existing customer base while supporting growth in the region.Under the agreement, Stone Marine will provide service and support for Berg’s propulsion systems in the UK and Ireland.

France's navy has intercepted a sanctioned tanker linked to the Russian oil trade in the Atlantic Ocean and ordered the vessel to head for the French mainland, in a move Russia said was illegal and bordered on "international piracy".French President Emmanuel Macron on Monday posted a video on X showing commandos rappelling from helicopters onto the Tagor, during an operation that occurred the previous day in international waters 400 miles (740 km) west of Brittany.The tanker, which had sailed from Russia's Arctic port of Murmansk…

Oil prices rose more than 3% on Monday after Iran and the U.S. traded strikes and Israel ordered troops to move further into Lebanon in its battle with Tehran-backed Hezbollah.U.S. crude futures CLc1 rose $2.88 or 3.3% to $90.24 a barrel as of 0701 GMT. Brent LCOc1 futures rose $2.78 or 3.05% to $93.9 a barrel.The fighting, after Washington hosted Israel-Lebanon peace talks on Friday, dimmed hopes that the U.S. and Iran could soon announce an extension to their ceasefire, which had driven Brent and WTI to settle down 1.8% and 1.7%, respectively, on Friday.The U.S.

SAAM has completed the acquisition of the remaining 30% stake in Intertug's operations in Colombia and Mexico, giving the company full ownership of the subsidiaries.The transaction, valued at $30.5 million, was completed after the required regulatory approvals were obtained and other closing conditions were satisfied.The acquisition follows SAAM's initial purchase of a 70% stake in Intertug in 2021, which marked the company's entry into the Colombian market and complemented its operations in Mexico.“This is a key step in our growth strategy for 2030.

Ofiniti has acquired maritime intelligence company Teqplay, expanding its maritime fuel operations platform with vessel tracking, port-call analytics and operational intelligence capabilities.The acquisition broadens Ofiniti's offering beyond scheduling, operational coordination and digital documentation into real-time operational intelligence, providing customers with a combined view of vessel movements and fuel delivery operations.Ofiniti said its platform processed more than 25,000 bunker operations in 2025, including 500,000 metric tonnes of alternative fuels.

Dutch maritime design firm Vuyk Engineering has been selected by heavy-lift shipping and offshore transportation contractor Jumbo Maritime to design its newly ordered L-Class heavy-lift transport vessels.The two vessels are designed to support offshore transport and lifting operations, combining cargo transportation capabilities with lifting capacities of up to 2,400 tonnes.The L-Class vessels are intended to transport a range of heavy cargoes, including wind turbine components, modules and carousels.

DEME, through its Japanese joint venture Japan Offshore Marine (JOM), has secured a contract for the Oga–Katagami–Akita Offshore Wind Project, covering engineering work and vessel charter services for the offshore installation of 21 wind turbines.The contract forms part of an agreement between Oga Katagami Akita Offshore Green Energy and Penta-Ocean Construction.JOM will install 21 Vestas V236-15 MW turbines, marking the first deployment of 15 MW-class wind turbines in Japan and the first application of turbines of this size outside Europe…

Cheniere Energy Partners has signed a lump-sum turnkey engineering, procurement and construction (EPC) contract with Bechtel Energy for the first phase of the Sabine Pass LNG Expansion Project in Louisiana and issued a limited notice to proceed allowing early engineering and procurement work to begin.The agreement covers Phase 1 of the expansion project, including Train 7, a boil-off gas re-liquefaction unit and supporting infrastructure connected to the existing Sabine Pass LNG terminal.Phase 1 is expected to have LNG production capacity of more than 6 million tonnes per annum (mtpa)…

Japanese trading house Mitsui is looking to invest in LNG projects across the Middle East, the U.S.

Oil futures fell more than 1% on Friday and were on track for their steepest weekly decline since early April, following reports that the U.S. and Iran had reached a potential deal to extend a ceasefire.Brent crude futures for July LCOc1 fell 1.32% or $1.24 to $92.47 a barrel at 0656 GMT. U.S. oil futures CLc1 fell $1.38, or 1.55%, to $87.52 a barrel.Brent has plunged 10.5% this week - the steepest fall since the week that ended on April 6, while WTI has dropped 9.2% - the biggest weekly loss since the week that ended on April 13.Ceasefire AgreementThe U.S.

Seatrium has received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its NEXTGEN Energy Hub offshore concept.The NEXTGEN Energy Hub is designed to integrate ammonia storage and bunkering, power generation and marine electric vessel charging within a single offshore platform.Seatrium said the concept is intended to support the maritime energy transition by combining infrastructure for cleaner marine fuels, offshore power generation and charging capabilities for electric vessels.The concept is based on Seatrium’s proprietary GraviBED platform…

Oil prices jumped more than 2% on Thursday after Iran's Revolutionary Guards said they targeted a U.S. airbase in response to a U.S. attack in the port city of Bandar Abbas.Brent crude futures LCOc1 rose $2.34, or 2.48%, to $96.63 a barrel by 0701 GMT, while the more active August contract LCOc2 gained $2.24 or 2.43%, to $94.49. The July contract is set to expire on Friday.U.S. West Texas Intermediate futures CLc1 were up $2.26, or 2.55%, at $90.94.Both benchmarks slipped more…

Two supertankers and one liquefied natural gas (LNG) tanker exited the Strait of Hormuz earlier this week with their transponders switched off, and are heading for India and China, shipping data from LSEG and Kpler showed.The vessels joined a number of tankers leaving the Gulf this month, although oil and LNG traffic overall has still been limited.The Very Large Crude Carrier (VLCC) Eagle Veracruz, carrying 2 million barrels of crude loaded from Saudi Arabia in late February, is heading to Quanzhou port in the southeastern Chinese province of Fujian.

The MISC Group revenue of RM2,891.4 million ($729 million) was 2.7% higher than the revenue for the period ended March 31, 2025.The increase was mainly due to higher revenue from the company’s Petroleum and Product Shipping segment, primarily driven by higher freight rates and earning days, and higher revenue from Marine and Heavy Engineering segment, primarily from the ongoing projects advancing into higher construction phases partially offset by lower revenue from post sail-away projects.The increase in Group’s revenue was…

Strategic Marine and Mainprize Offshore have signed a Protocol of Delivery and Acceptance (PODA) for the MO15 and MO16 crew transfer vessels (CTVs), extending a multi-vessel offshore renewables vessel program announced in 2024.The agreement follows the earlier delivery of the MO10, MO11, MO12 and MO14 Supa Swath vessels.The new vessels are intended to support offshore wind operations and maintenance activities in Europe as Mainprize Offshore continues expanding its fleet.The vessels…

ABL has been hired to support Esso Australia Resources as preparations advance for what the company described as Australia’s largest offshore decommissioning campaign in the Bass Strait.The Gippsland Decommissioning Campaign #1 Project is expected to involve removal of up to 13 offshore platforms beginning in 2027 using Allseas’ Pioneering Spirit vessel.Esso, a subsidiary of ExxonMobil, operates the Bass Strait assets as part of the Gippsland Basin Joint Venture. The infrastructure includes around 400 wells…

Dajin Heavy Industry, via its subsidiary Tangshan Dajin Offshore Engineering, has signed a contract with a Dutch shipowner Jumbo Maritime to build two next-generation multi-purpose heavy-lift vessels.The contract is valued at approximately $156 million and covers the design, construction and delivery of two 25,000-deadweight-tonne vessels scheduled for phased delivery in 2028 and 2029.Each vessel will measure about 163 meters in length with a beam of around 30 meters and depth of approximately 16 meters.The ships will be equipped with two heavy-lift cranes rated at 1…

Australia's Santos will prioritise LNG and oil growth in three core regions, including Alaska and Papua New Guinea, under a new strategy that also includes reducing net debt by $2.5 billion by 2030."We are now laser-focused on investment in major oil and LNG production across three regions," CEO Kevin Gallagher said while speaking at the company's 2026 Investor Briefing Day on Tuesday.The country's No.2 oil and gas producer will leverage existing infrastructure on Tier-1 basins in the three regions…

Brent crude futures rose more than 2% on Tuesday after the U.S. military carried out strikes in Iran, keeping markets on edge as a deal to end the war and open up the Strait of Hormuz remained elusive.Brent futures LCOc1 were up $2.36, or 2.5%, to $98.50 a barrel as of 0630 GMT, after settling 7% lower in the previous session.U.S. West Texas Intermediate crude CLc1 was at $91.95 a barrel, up slightly from Monday's last traded price but down $4.65, or 4.8%, from Friday's close. There was no settlement on Monday due to the U.S.

French engineering firm GTT has an order from the shipyard Hanwha Ocean for the tank design of a new liquefied natural gas (LNG) carrier, on behalf of a European ship-owner.GTT will design the cryogenic tanks of the vessel, offering a total capacity of 174,000 m3.The tanks will be fitted with the NO96 Super+ membrane containment system, a technology developed by GTT.Delivery of the vessel is scheduled for the second quarter 2029.

QatarEnergy has signed a memorandum of understanding (MoU) with the Egyptian government and ExxonMobil to study the potential development and commercialization of gas discoveries in Cyprus through Egypt’s existing gas and LNG export infrastructure.The agreement will allow the parties to study future growth opportunities and commercial frameworks linked to Egypt’s gas infrastructure and its role as a regional energy hub in the Eastern Mediterranean.The companies said the cooperation…

Energy services firm EnerMech has signed a multi-year global collaboration agreement with Norway-based technology company Optilift to expand technology-enabled crane and lifting operations across the offshore energy sector.The agreement combines Optilift’s digital lifting technologies and smart sensor systems with EnerMech’s global lifting services and offshore support network spanning 26 locations worldwide.The partnership will allow EnerMech to offer technology-enhanced crane and cargo handling services across offshore and onshore energy projects…

Mitsui O.S.K. Lines (MOL) has signed its first annual contract for liquefied natural gas (LNG) bunkering for car carriers at the Port of Vancouver, expanding LNG fuel supply arrangements for its growing fleet of LNG-fueled vessels operating on North American trade routes.The agreement with Canada-based Seaspan Energy follows MOL’s first LNG bunkering operation on the west coast of North America in March 2025, which the company said marked the first such operation by a Japanese…

French engineering firm GTT has been selected by HD Korea Shipbuilding & Offshore Engineering (HD KSOE), on behalf of the ship-owner BW LNG, for the tank design of the world’s first large-scale LNG carriers featuring a three-cargo-tank configuration.This new design will equip four new buildings - two vessels already ordered in November 2025 and two additional vessels ordered in May 2026.The four LNG carriers will be fitted with the GTT Mark III Flex membrane containment system…

Oil prices edged higher on Thursday, as investors monitored peace talks between the United States and Iran, while supply tightness and U.S. inventory drawdowns provided some support.Brent crude futures LCOc1 rose 40 cents, or 0.4%, to $105.42 a barrel by 0809 GMT, and U.S. West Texas Intermediate futures CLc1 were up 50 cents, or 0.5%, at $98.76.Both benchmarks dropped around 5.6% on Wednesday to their lowest in more than a week after President Donald Trump said talks with Iran…

Equinor has exercised remaining options to extend the contract for the platform supply vessel (PSV) Viking Avant from Norwegian vessel owner Eidesvik Offshore.The extension runs in direct continuation of the current contract and extends the firm charter period through the end of 2026.Viking Avant PSV was built in 2004, and has a deadweight capacity of 5,784 tonnes and a deck area of 1,010 square meters.The vessel is 92.17 meters long with a beam of 20.4 meters.

INTERCARGO has published the first dedicated ship-to-ship (STS) transfer guidelines for dry bulk carriers, as such operations expand into new trading regions and offshore locations with limited port infrastructure.The ‘Ship to Ship Transfer Guidelines for Bulk Carriers’ establishes a framework for dry bulk STS operations, covering planning, risk assessment, maneuvering, fendering, cargo handling and emergency response procedures.STS transfers are increasingly used in dry bulk shipping where ports cannot accommodate vessel size…

Bernhard Schulte has christened its first liquefied CO2 (LCO2) carrier, marking the company’s entry into the carbon capture and storage (CCS)-related shipping segment.The vessel, named Northern Purpose, was christened on May 19 at Dalian Shipbuilding Offshore (DSOC) in China and will support the Northern Lights CCS project, a cross-border CO2 transport and storage development in Norway.Following delivery, the vessel will enter a long-term time charter transporting captured CO2…

PALFINGER has secured a contract to supply davit cranes for five offshore converter platforms in the North Sea, expanding its presence in the offshore wind market as Europe accelerates grid infrastructure development tied to renewable energy projects.The Austrian company said it would deliver seven PF200-7m davit cranes to Spanish engineering contractor Dragados Offshore for high-voltage direct current (HVDC) converter platforms linked to projects for German transmission system operators Amprion and TenneT Germany.Under the agreement…

Cadeler has reported higher first-quarter revenue and earnings, supported by expanded offshore wind installation activity following growth in its operating fleet.The Danish offshore wind vessel operator posted revenue $145.2 million (€125 million) for the first quarter of 2026, up from $75.5 million (€65 million) in the same period last year, while EBITDA rose to $54 million (€47 million) from $27.9 million (€24 million).Fleet utilization across Cadeler’s 10 operating vessels was 47.6% during the quarter…

Britain will allow imports of diesel and jet fuel refined abroad from Russian crude under a sanctions carve-out, watering down restrictions to help ensure supply at home as prices soar due to the conflict in the Middle East.While Britain's support for Ukraine remains steadfast, junior treasury minister Dan Tomlinson said, he added that the national interest had to come first and therefore a loosening of certain sanctions on some Russian products for now made sense."We have to make sure that we protect the security of supply for really important foundational goods in our economy…

Seatrium Limited announced a new contribution of about USD$1.33 million (S$1.7 million) to enhance the Seatrium Professorship at the National University of Singapore College of Design and Engineering (“NUS CDE”). This reinforces a partnership with NUS CDE to advance innovation and collaboration in energy transition and sustainable offshore technologies, including ocean renewable energy.With current and past contributions in addition to government matching grants, the total contribution will exceed USD$3.9 million (S$5 million).