Oil Rises as Uncertainty Clouds US-Iran Peace Talks
Oil prices rose on Tuesday as a diplomatic resolution to the U.S.-Iran conflict remained uncertain, while disruptions to oil flows through key shipping routes persisted.Front-month Brent futures LCOc1 rose $1.04, or 1.24%, to $84.81 a barrel by 0800 GMT after dropping 7% in the previous session to a three-week low.U.S. West Texas Intermediate (WTI) crude CLc1 was up 30 cents, or 0.37%, at $80.64 a barrel after falling more than 5% in the previous session to its lowest in nearly a week.Prices had dropped after U.S.
Trump Presses ExxonMobil, Chevron to Lower Fuel Prices After Record Profits
U.S. President Donald Trump accused ExxonMobil and Chevron on Monday of making "too much money" off higher fuel prices and said the oil giants should "give some of that back to the public," a notable break from his usual alliance with the industry."I don't like it," Trump told reporters on Monday, three days after the companies reported blowout second-quarter earnings as the ongoing war in Iran keeps oil prices high. “Chevron, too much money. ExxonMobil, too much. Too much money.”Exxon…
Saipem, Subsea7 Clear Key US Regulatory Merger Hurdle
Saipem and Subsea7 have cleared a key U.S. regulatory hurdle for their planned merger after the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 expired, allowing the transaction to close in the United States once all remaining conditions are met.The companies said all applicable waiting periods under the U.S. antitrust law have expired, while noting that the proposed merger remains subject to certain regulatory approvals outside the United States.The merger was agreed under a binding agreement signed in July 2025…
Saipem, Subsea7 Clear Key US Regulatory Merger Hurdle
Saipem and Subsea7 have cleared a key U.S. regulatory hurdle for their planned merger after the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 expired, allowing the transaction to close in the United States once all remaining conditions are met.The companies said all applicable waiting periods under the U.S. antitrust law have expired, while noting that the proposed merger remains subject to certain regulatory approvals outside the United States.The merger was agreed under a binding agreement signed in July 2025, following a memorandum of understanding announced earlier that year. Completion is anticipated in the second half of 2026, subject to the remaining approvals.Once completed, the combined company will operate under the name Saipem7.
Saudi Oil Tankers Cross Red Sea as Hormuz Traffic Slows
Two tankers laden with Saudi oil crossed the Bab el-Mandeb strait over the weekend, while traffic in the Strait of Hormuz slowed following reports of vessel attacks, shipping data showed on Monday.The number of commodity vessels that passed through the Bab el-Mandeb strait fell to 18 on Sunday, from 27 on Saturday and 28 on Friday, the Kpler data showed.The Iran-aligned Houthis declared a maritime embargo against Saudi Arabia on July 20, opening a new front against the U.S. and…
GasLog LNG Tanker Safe Following Strait of Hormuz Incident
A liquefied natural gas vessel controlled by Greek shipping company GasLog was stable after an incident while exiting the Strait of Hormuz, with everyone on board safe and accounted for, the company said.An "incident" had occurred on its Gaslog Shanghai LNG vessel on July 31, said GasLog in a statement. It did not provide details about the incident or whether the ship or its cargo had sustained any damage."GasLog LNG Services immediately activated their emergency plan, notified all relevant authorities…
Petrobras Extends Contracts for DOF-TechnipFMC PLSV Duo
DOF Group has secured long-term contract extensions with Petrobras for the Skandi Buzios and Skandi Recife pipelay support vessels (PLSVs), extending both contracts into January 2028.Following negotiations with Petrobras, Skandi Buzios was awarded a 516-day extension, while Skandi Recife secured a 550-day extension, DOF said.The contracts had previously been due to expire in the third quarter of 2026.Both vessels are owned by a joint venture between DOF and TechnipFMC, with each company holding a 50% interest.
Two Oil Supertankers Exit Hormuz as Traffic Remains Sparse
The two very large crude carriers (VLCC) carrying oil loaded from the Gulf exited the Strait of Hormuz on Friday, with traffic through the waterway remaining thin, according to Kpler ship-tracking data.The Spain B vessel is carrying crude oil loaded from the Saudi Arabian port of Ras Tanura on July 12, and is currently anchored off Fujairah in the United Arab Emirates. Meanwhile Noble, which loaded Iraqi Basrah crude on July 25, is heading to China.Both VLCCs are carrying about 2 million barrels of crude each.
Singapore Issues Eight New LNG Bunkering Licenses
Singapore has issued eight new licenses to supply liquefied natural gas as a marine fuel in Singapore from September 1, 2026, the Maritime and Port Authority of Singapore said on Thursday.The new licences will expand Singapore's LNG bunkering capacity to meet growing demand expectations and support a multi-fuel bunkering hub.The licences were awarded to companies including Aramco Trading Singapore, Equatorial Marine Fuel Management Services, ExxonMobil Asia Pacific, PetroChina International Singapore, Shell Eastern Trading, Sinopec Fuel Oil Singapore, the TotalEnergies Gas & Power Asia-Sembcor
Egypt Confirms Drone Hit Damietta Gas Vessels
A drone caused the fire that engulfed two gas vessels at Egypt's Mediterranean port of Damietta, the Egyptian cabinet said on Thursday, confirming for the first time that the blaze which erupted a day earlier was the result of an attack rather than an accident.No party has claimed responsibility, and authorities were continuing their investigations and taking necessary measures to protect Egypt's national security, the cabinet added.British maritime security firm Ambrey said on Wednesday that a drone had hit a U.S.-owned gas storage tanker at the port…
Oil Climbs as US Resumes Military Strikes on Iran
Oil prices rose for a second day on Thursday as renewed attacks between the United States and Iran disrupted oil flows through key shipping routes.Brent futures LCOc1 rose $1.06, or 1.17%, to $91.80 a barrel as of 0812 GMT after touching a low of $89.02 in the session.U.S. West Texas Intermediate (WTI) crude CLc1 gained 39 cents, or 0.46%, to $84.85 a barrel after hitting a session low of $83.21.Geopolitical tensions continued to simmer after the U.S. military said it had hit dozens of Islamic Revolutionary Guard Corps targets in Iran…
QatarEnergy LNG Tanker Exits Hormuz for First Time in Weeks
A QatarEnergy-controlled liquefied natural gas tanker exited the Strait of Hormuz overnight, the first such vessel recorded by ship-tracking data leaving the waterway since July 11, data from analytics firms showed on Thursday.The Al Areesh, which loaded a cargo at Qatar's Ras Laffan terminal around July 4 to July 6, sailed on July 29 from the strait blockaded in the Iran war, data from Kpler and LSEG showed.LSEG data shows it is currently heading to Port Qasim in Pakistan, estimated to arrive on July 31.
Sallaum Lines Orders LNG Dual-Fuel PCTC From China
Sallaum Lines has ordered an 8,600-car equivalent unit (CEU) pure car and truck carrier (PCTC) from China Merchants Shipyard, with an option for a second vessel, expanding its newbuilding program as it prepares for long-term growth in the global vehicle carrier market.The LNG dual-fuel, ammonia-ready vessel is scheduled for delivery in 2029 and follows a separate order announced earlier this month for two firm 8,600-CEU PCTCs, with options for two more, at Xiamen Shipbuilding Industry.The latest order increases Sallaum Lines' newbuilding program to nine vessels…
Samsung Heavy, Conrad Shipyard Get ABS Nod for LNG Bunkering ATB Design
The American Bureau of Shipping (ABS) has granted Approval in Principle (AiP) to Samsung Heavy Industries (SHI) and Conrad Shipyard for the basic design of a 12,000-cubic-metre LNG bunkering articulated tug-barge (ATB) planned for construction in the United States.The approval follows a memorandum of understanding between SHI and Conrad Shipyard to jointly develop and build LNG bunkering ATBs. ABS said it completed design reviews based on its class rules and applicable statutory requirements.The project is among the first initiatives announced through the Korea-U.S.
Northern Lights CCS Fleet Set for Next Stage with Latest LCO2 Carrier Arrival
Northern Lights joint venture has taken delivery of its fourth dedicated liquefied CO2 (LCO2) carrier, completing the vessel fleet required for the first phase of its carbon capture and storage (CCS) transport and storage operations.The Northern Purpose has arrived in Norway following delivery from Dalian Shipbuilding Offshore Company (DSOC), joining sister vessels Northern Pioneer, Northern Pathfinder and Northern Phoenix to provide CO2 transport capacity for customers across Europe.Northern Lights said the vessel fleet forms the core of its transport solution…
Iran Rejects Omani Plan for Strait of Hormuz Management
Tehran has ruled out Oman's proposal for regional joint management of the Strait of Hormuz, a senior Iranian official told Reuters on Wednesday, scuppering hopes for a resolution to the impasse that has choked off Gulf trade for months.Oman proposed a new regional deal aimed at resolving the conflict over the critical strait, through which about a fifth of global oil and liquefied natural gas flowed before the U.S. and Israel attacked Iran in February.However, Tehran ruled out Oman's proposal for regional joint management of the strait, saying it had no chance of success.The U.S.
Bureau Veritas Gives Blessing to Seatrium’s 30MW Floating Data Center
Seatrium has received Approval in Principle (AiP) from Bureau Veritas Marine & Offshore for its 30 MW Floating Data Centre (FDC) concept, marking a milestone in the development of offshore digital infrastructure designed to support growing demand for artificial intelligence and cloud computing.The concept features a jetty-moored, non-propelled barge incorporating six independent 5 MW Data-In-A-Box modules, each integrating IT equipment, cooling systems, power distribution and supporting infrastructure in a modular design.The company said the concept combines modular construction…
Bureau Veritas Gives Blessing to Seatrium’s 30MW Floating Data Center
Seatrium has received Approval in Principle (AiP) from Bureau Veritas Marine & Offshore for its 30 MW Floating Data Centre (FDC) concept, marking a milestone in the development of offshore digital infrastructure designed to support growing demand for artificial intelligence and cloud computing.The concept features a jetty-moored, non-propelled barge incorporating six independent 5 MW Data-In-A-Box modules, each integrating IT equipment, cooling systems, power distribution and supporting infrastructure in a modular design.The company said the concept combines modular construction, natural seawater cooling, embedded power generation and…
Oman Proposes Voluntary Hormuz Transit Fee Plan
Oman has presented Iran with a plan backed by Gulf states to manage the Strait of Hormuz, including collecting voluntary fees for using it, a Gulf source and a Western diplomat told Reuters on Tuesday.The plan could serve as a basis to end the disruption to trade through the strait caused by the U.S.-Israeli war on Iran.President Donald Trump, who abruptly called off a two-week U.S. bombing campaign over the weekend in his latest strategic U-turn, said there were "good talks" under way with Iran but threatened to restart strikes unless negotiations deliver.
ABS: Demand for Floating Offshore Wind Vessels is Rising
Demand for high-capability offshore support vessels for floating offshore wind is expected to strengthen in the late 2020s, with availability constraints emerging in some segments as early as 2029, according to a new report from ABS.Produced by ABS in collaboration with Intelatus Global Partners, Floating Offshore Wind and the Vessels That Support It examines the role large anchor handling tug supply vessels (AHTSs) and multipurpose support vessels (MPSVs) are expected to play in project execution…
Iran Vows Response to Ukrainian Attack on Commercial Vessel
Iranian Foreign Minister Abbas Araqchi said on Sunday a Ukrainian attack on an Iranian commercial vessel "cannot go unanswered".Iran said the attack in the Caspian Sea resulted in an explosion that killed one sailor and injured another.Araqchi made the comments in calls with EU foreign policy chief Kaja Kallas and Russian Foreign Minister Sergei Lavrov, Araqchi posted on X.Lavrov, in a statement posted on the Russian Foreign Ministry's website, offered condolences in connection with the death of a sailor in the attack.Lavrov said Araqchi thanked local authorities in the Russian region of Astra
Japan Finds Rare Earth Mud Near Remote Island
An analysis of rare earth-rich mud retrieved from the deep seabed off a remote Pacific Island earlier this year found medium and heavy rare earth elements accounted for about 54% of the total rare earth content, Japan's government said on Friday.But it did not disclose the size of the content or the deposits, saying the data was insufficient due to the limited duration and geographic scope of sampling.The Japanese scientific drilling vessel, Chikyu, completed a month-long mission in February near Minamitori Island…
GTT Marine to Digitize Petronas’ LNG Fleet
GTT Marine has won a contract to deploy its integrated suite of digital vessel performance solutions across Petronas’ chartered LNG carrier fleet, aiming to improve operational efficiency, lower costs and reduce emissions.The agreement covers the deployment of GTT Marine's digital platform for vessel performance monitoring, voyage optimization and cargo management, with the potential to be extended as Petronas expands its chartered LNG carrier fleet.The vessel performance solution will collect…
Allseas Readies Overhauled Solitaire Pipelayer for Gulf Return
Dutch offshore contractor Allseas has completed one of the most extensive renewal and upgrade programs in the history of its pipelay vessel Solitaire, paving the way for the ship's return to commercial operations following 10 months of work in Rotterdam.The program modernized the vessel's propulsion, power generation, automation and hybrid power systems, while upgrading its double joint factory (DJF), a key component of Solitaire's pipelay operations for more than 25 years.The company said the upgraded DJF is designed to support a more automated and data-driven pipelay process…
Oil Eases After Topping $100, Still Set for Weekly Rise
Oil futures prices fell over 3% on Friday but are still set for hefty weekly gains because of concerns about disrupted energy flows in the Red Sea and fears of further escalation in the U.S.-Israeli war with Iran.Brent futures LCOc1 fell nearly $4, or 3.96%, to $96.70 a barrel at 0946 GMT, having settled above $100 in the previous session for the first time since May after Iran-aligned Houthis said they struck two Saudi oil tankers in the Red Sea.The contract remained on course for a 9.7% advance this week.West Texas Intermediate (WTI) futures CLc1 were down $3.15 or 3.42% at $89.04 a barrel…
Chinese Supertankers Exit Red Sea With Saudi Oil
Two Chinese supertankers carrying a combined 4 million barrels of Saudi Arabian oil exited the Red Sea via the Bab el-Mandeb strait on Thursday, shipping data showed, apparently escaping a blockade on shipments of Saudi oil by Yemen's Houthi militias even as other Saudi vessels came under attack.The Red Sea blockade by the Iran-aligned Houthis is worsening global energy supply disruption, coming at the same time the key Strait of Hormuz has practically shut due to the resumption of fighting between the U.S.
Saipem Marks Neptun Deep Offshore Installation Milestone in Black Sea
Saipem has confirmed the completion of a key offshore installation campaign for the Neptun Deep natural gas project in Romania, marking another milestone in the development of what is expected to become the European Union's largest offshore gas project.The campaign, carried out by the Saipem 7000 heavy-lift vessel, included the installation of the production platform's 7,500-tonne jacket and 9,000-tonne topside, as well as associated offshore works forming part of the company's engineering…
DOF Reshapes Fleet With Six-Vessel Transactions
DOF Group has agreed to sell four platform supply vessels (PSVs), acquire two construction support vessels (CSVs) under construction and declare a constructive total loss on the anchor handling tug supply (AHTS) vessel Skandi Amazonas, as the company continues to optimize and modernize its fleet.The company said it will sell the Skandi Mongstad, Skandi Flora, Skandi Feistein and Skandi Kvitsøy, with deliveries expected during the third quarter of 2026.The vessels will remain on their current contracts…
Hormuz Disruption Shifts LNG Bargaining Power to Buyers
Asian and European buyers of liquefied natural gas (LNG) plan to ask for lower prices and additional supply guarantees from Qatar and the United Arab Emirates as the U.S.-Iran war raises insurance costs on those deliveries, buyers, traders and industry executives told Reuters.The war is reshaping the global energy industry, stripping Gulf producers of their reputation as the world's most reliable suppliers, which in the past gave them significant negotiating power. Their ability…
Chinese Supertankers Exiting Red Sea Amid Houthi Threats
Two Chinese supertankers carrying a combined 4 million barrels of Saudi Arabian oil are exiting the Red Sea via the Bab el-Mandeb strait on Thursday, shipping data showed, even as a Saudi vessel came under attack in the region.The ships' attempt to transit the strait will clearly test how tightly the Houthis will impose the naval blockade on Saudi Arabia they announced on Monday. The group said they attacked two Saudi tankers with drones and missiles earlier on Thursday.The Red…
Houthis Claim Attack on Saudi Tankers in Red Sea
The Iranian-aligned Houthis said on Thursday they struck two Saudi oil tankers as part of a naval blockade on Saudi Arabia, threatening to create a second chokepoint on global oil supplies alongside Iran's near-closure of the Strait of Hormuz.Meanwhile the U.S. military completed a new round of strikes on Iran at President Donald Trump's direction, marking a 12th successive night of American attacks and prompting further Iranian retaliation.Iran said it attacked U.S. missile systems, weapons and fuel storages in Jordan, as well as U.S.
ABL Gets Papua New Guinea FSO Job
ABL has been awarded a contract by Oil Search (PNG), a subsidiary of Santos, to provide marine warranty survey (MWS) services for Papua New Guinea's first offshore floating storage and offloading (FSO) facility.The work will support the supply, transportation, installation, pre-commissioning and commissioning of the FSO, which will be deployed at the Kumul Marine Terminal as part of the Kutubu Pipeline System.The FSO will provide storage and offloading for crude oil and condensate produced from multiple fields…
Sea1 Offshore’s First Offshore Energy Support Vessel Hits Water in China
Sea1 Offshore has launched the Sea1 Diamond, the first vessel in a series of four offshore energy support vessels under construction at COSCO Shipping.The float-out marks a key milestone in Sea1 Offshore's newbuild program, with the company describing the vessel as the start of a new chapter for its fleet.Sea1 Diamond is the first of four offshore energy support vessels ordered from the Chinese shipyard. The initial two vessels were contracted in November 2024, followed by two additional units in March 2025 as Sea1 expanded the program.Based on the ST-245 design…
Oil Rises on Dual Shipping Threat in Hormuz and Red Sea
Oil prices rose to near six-week highs on Wednesday on mounting concerns about disruptions to key Middle Eastern supply routes because of escalating hostilities between the U.S. and Iran and threats to shipping by the Iran-backed Houthi militia in Yemen.Brent crude futures LCOc1 rose $2.84, or 3.12%, to $93.85 a barrel at 0833 GMT. U.S. West Texas Intermediate crude CLc1 climbed $2.93, or 3.47%, to $87.27. Both benchmarks touched their highest levels since June 11.The U.S. military said late on Tuesday, early Wednesday in Iran, that it carried out an 11th consecutive night of attacks. The U.S.
Anemoi Gets Wind in its Sails with Latest Bureau Veritas Certification
Anemoi Marine Technologies has secured design assessment certificates from Bureau Veritas covering several versions of its Rotor Sail wind-assisted propulsion technology, expanding third-party certification of its product range.The approvals cover the company's fixed and rail-deployed 3.5-metre by 24.5-metre Rotor Sails, including explosion-rated (EX-rated) versions and shorter variants designed for vessels operating under air draft restrictions. Applications are also being progressed…
Tanker Crew Abandons Ship After Reported Strike in Hormuz
A tanker in the Strait of Hormuz reported being struck by an unknown projectile, forcing its crew to abandon the vessel and board a lifeboat, the United Kingdom Maritime Trade Operations agency (UKMTO) said on Tuesday.UKMTO said it had received multiple reports on Tuesday that a tanker had broadcast over VHF Channel 16 that it had been hit by an unknown projectile. The incident was reported eight nautical miles east of Oman's Limah and authorities were investigating.UKMTO said…
DEME to Install Foundations at Zeevonk Offshore Wind Farm
Belgium marine contractor DEME has secured a contract to transport and install foundations for the first phase of the Zeevonk offshore wind farm in the Netherlands.The project, jointly owned by Vattenfall and Copenhagen Infrastructure Partners through its Energy Transition Fund I, will have a total installed capacity of about 1 GW.Under the contract, valued between $170 million and $340 million (€150 million and €300 million), DEME will provide intermediate transport of monopiles…
Iran Claims Two Oil Tankers Exploded in Strait of Hormuz
The Islamic Revolutionary Guard Corps said on Monday that two oil tankers had exploded and been immobilised after attempting to transit what it described as an unsafe southern route through the Strait of Hormuz, alleging they had been encouraged by the U.S. military to use the passage.Reuters could not immediately verify the incident. The statement gave no details on the vessels' names, flags, crews or any casualties.The Guards said the waterway would remain unsafe as long as what it called U.S.
Guyana Ferry Disaster Leaves Dozens Feared Dead
Dozens of people were feared dead after a ferry carrying 133 people capsized off the coast of Guyana late on Saturday, with authorities suggesting an inaccurate passenger list and drug use by the crew might have contributed to the situation.No survivors have been found since Sunday afternoon, when Guyanese authorities announced they had rescued 67 people, including 15 children.The captain and other crew members are now in police custody, Public Works Minister Juan Edghill said at a press conference late on Sunday."Search and rescue is still in progress," Edghill said.
Projectile Strike Sets Dynacom Tanker Ablaze Near Oman
Greek shipping company Dynacom Tankers said two of its managed vessels were hit by projectiles of unknown origin on Monday while sailing off the coast of Oman.The re-escalation in fighting between the U.S. and Iran is again threatening commercial shipping through the Strait of Hormuz as Iranian forces target vessels and the U.S. moves to enforce its blockade of the country's ports.Dynacom said Kavomaleas — a Malta-flagged Panamax-sized tanker — was struck by two projectiles, causing a fire in its engine room and forcing its evacuation."After deploying the shipboard fire suppression system…
Saronic Picks Texas for New $3B Shipyard
Saronic has selected Brownsville, Texas, as the site for Port Alpha, a next-generation shipyard the company plans to build to expand U.S. shipbuilding capacity.The company said it plans to invest more than $3 billion in the facility, with construction expected to begin in 2026 and operations scheduled to start in 2028.Initially spanning 835 acres at the Port of Brownsville, the site could eventually expand to nearly 4,400 acres. The shipyard will be capable of building vessels up to 850 feet long…
Cadeler Welcomes Wind Ace WTIV to its Fleet
Cadeler has taken delivery of Wind Ace, its 11th offshore wind turbine installation vessel (WTIV) and the second of three A-class newbuilds.Built over the past two years at the COSCO Shipping Offshore shipyard in Qidong, China, the vessel was delivered on schedule and within budget, according to Cadeler.Following mobilization, Wind Ace will prepare for deployment on ScottishPower Renewables' 960 MW East Anglia TWO offshore wind farm in the UK, where Cadeler will transport and…
Taihan Takes Delivery of Second Cable Laying Vessel
Taihan Cable & Solution has taken delivery of its second cable laying vessel (CLV) Skandi Connector, strengthening its offshore wind and subsea power cable installation capabilities.Skandi Connector CLV, delivered by DOF Group, joins Taihan’s existing offshore wind-dedicated cable-laying vessel PALOS, creating what the company described as a dual-track installation system for offshore wind, HVDC transmission and long-distance power interconnection projects.The 10,000-ton-class CLV can load up to 7…
US-Iran Attacks Escalation Chokes Hormuz Shipping
Just three commodity vessels crossed the Strait of Hormuz on Thursday, the fewest daily transits since May, shipping data showed, with most ships halting or making U-turns after recent Iranian attacks on vessels and the resumption of a U.S. blockade on Iran-related shipping.The re-escalation in fighting between the U.S. and Iran has once again largely stopped traffic through Hormuz, the world's most important shipping route for oil and gas, driving up global energy prices.Miraan…
ABB to Buy Rotork in $5.5B Automation Deal
ABB has agreed to acquire UK-based intelligent flow control solutions provider Rotork in a recommended all-cash deal valuing the company at about $5.5 billion, expanding its automation portfolio and strengthening its position in industrial automation.ABB said Rotork's flow control and instrumentation portfolio complements its existing automation business and will strengthen its position at the field-device layer by adding intelligent field devices and software used to monitor…
Hormuz Crossings Decline as US Renews Iran Blockade
Fewer vessels travelled through the Strait of Hormuz on Wednesday, the first day after the U.S. reimposed its naval blockade on Iranian ports with both countries escalating strikes across the Gulf, shipping data showed.Nine vessels crossed the strait on Wednesday, mostly on the Iranian route, down from 13 the previous day, Kpler data showed.There were no Very Large Crude Carrier or liquefied natural gas tankers visibly passing through the strait on Wednesday.U.S. Central Command…
Wärtsilä Secures FSRU Service Agreement with Pardus Energy
Wärtsilä has signed a five-year lifecycle agreement with Ireland-based Pardus Energy to support the operation of the floating storage and regasification unit (FSRU) TURQUOISE P.The agreement includes contract management, maintenance planning and spare parts support for the vessel. Wärtsilä said the order was booked in the second quarter of 2026.The TURQUOISE P, commissioned in 2019, operates as a stationary FSRU at the ETKI LNG terminal in Aliaga, Türkiye, and is equipped with Wärtsilä systems.Under the agreement…
SMD, Prysmian Advance Power Cable Installation with New Plough
SMD has delivered the first of two heavy-duty power cable ploughs to Prysmian for deployment on the company's new-generation cable laying vessels (CLVs).The second system is scheduled for delivery later this year. The ploughs will be mobilized on Prysmian Alessandro Volta and Prysmian Mona Lisa CLVs.The systems are designed to bury conventional multi-core power cables, bundled two-pole power cables and quad bundles at depths of up to five metres below the mean seabed level.SMD…
Windcat, Ørsted Extend CTV Partnership
Windcat has secured long-term contracts with Ørsted to provide crew transfer vessel (CTV) services supporting the offshore wind developer's operations from Grimsby in northeast England.The agreements, which began in June, have a firm term of five years with options for extension.Under the contracts, Windcat will continue supplying seven crew transfer vessels that support Ørsted's Generation UK Hub, which operates and maintains six offshore wind farms from Grimsby's Royal Docks.The vessels were already operating on Ørsted's UK offshore wind projects under previous agreements.
Ukrainian Drones Hit 20 Russian Vessels in Black Sea
Ukrainian drones struck 20 Russian vessels in the Black Sea overnight, including 17 oil tankers, the commander of Kyiv's drone forces said on Wednesday.On Telegram, Robert Brovdi said the targets included two gas tankers and a tugboat.(Reuters - Reporting by Anna Pruchnicka; Editing by Thomas Derpinghaus)
Oil Rises 2% as Middle East Hostilities Escalate
Oil extended gains by around 2% on Wednesday as President Donald Trump reimposed a naval blockade on all Iranian ports and Iran's Islamic Revolutionary Guard Corps threatened to close "all other export corridors that benefit the U.S. and its allies".Brent futures LCOc1 climbed $1.71, or 2%, to $86.44 a barrel at 0806 GMT. West Texas Intermediate futures CLc1 gained $1.43, or 1.8%, to $80.77 a barrel.Oil prices settled up 2% at a one-month high on Tuesday as attacks exacerbated a supply disruption in the Strait of Hormuz…
Iran Warns More Seaways Could Close as US Reimposes Naval Blockade
Iran's Islamic Revolutionary Guard Corps has threatened to close "all other export corridors that benefit the U.S. and its allies", Iranian media reported, after Iran shut the Strait of Hormuz and the U.S. reimposed a naval blockade of Iranian ports."Regional energy exports are either shared by all, or denied to all," the IRGC said in a statement carried by Iran's IRNA state news agency on Wednesday.Analysts have said Iran has been signalling it may use its Houthi allies in Yemen to shut the Bab el-Mandeb gateway to the Red Sea…
KR, HD Hyundai Complete Korea's First Ammonia Vessel Trial
Korean Register (KR) and HD Hyundai Heavy Industries (HHI) have completed a sea trial of South Korea's first ammonia dual-fuel propulsion vessel as part of a government-backed initiative to support the development of ammonia-fueled shipping.The trial was conducted under the Ministry of Oceans and Fisheries' Green Shipping Corridor Construction Support Project, which aims to establish a domestic operating environment for ammonia-powered vessels.According to KR, the sea trial generated…
DOF Lands Four-Year AHTS Vessel Deal
Norwegian offshore services provider DOF has received a letter of award for a four-year offshore contract valued between $100 million and $200 million, adding another long-term assignment to its vessel fleet.The company will deploy the anchor handling tug supply (AHTS) vessel Skandi Hera on the contract, with operations expected to begin between late 2026 and early 2027.In addition to vessel services, DOF will provide remotely operated vehicle (ROV) services under the agreement.The award remains subject to partner approval…
Gulf of America Logistics Names New CEO
Louisiana-based logistics company Gulf of America Logistics (GoAL) has appointed Mike Camara as chief executive officer (CEO), effective immediately, while he continues to serve as the company's president.Camara assumed the role of President in February 2026 and has since overseen GoAL's operations across the energy, power, industrial and data center sectors.The leadership change comes as Louisiana continues to attract major industrial investment.According to Louisiana Economic Development…
Iranian Missiles Hit Two UAE Oil Tankers, One Person Dead
One Indian crew member was killed and eight others were wounded when two Emirati oil tankers were struck by Iranian cruise missiles in the Strait of Hormuz, the United Arab Emirates Ministry of Defence said on Tuesday, in the latest escalation in the strategic waterway.Abu Dhabi National Oil Company's shipping arm ADNOC L&S later confirmed the very large crude carriers (VLCCs) Mombasa B and Al Bahiyah were struck while transiting Hormuz and had sustained "significant damage".UAE state oil giant ADNOC has been among the most active participants in a U.S.
Voyage Optimization Pilot Cuts Sleipnir Vessel’s Atlantic Transit by 2.5 Days
Heerema Marine Contractors has reduced the North Atlantic transit time of its semi-submersible crane vessel (SSCV) Sleipnir by 2.5 days following a voyage optimization pilot with French ocean intelligence company Amphitrite.The data-driven pilot reduced the vessel's sailing distance by 240 nautical miles and lowered carbon dioxide (CO2) emissions by up to 18%, while maintaining higher average sailing speeds without increasing fuel consumption.The optimization program combined Heerema's offshore operational expertise with Amphitrite's vessel-specific voyage optimization platform…
James Fisher, Aquaterra Launch Global Decommissioning Partnership
James Fisher and Sons and Aquaterra Energy have formed a strategic global partnership to provide integrated offshore decommissioning services, combining front-end engineering, well access, subsea operations and offshore execution under a single delivery model.The collaboration is designed to streamline well abandonment and offshore infrastructure removal projects by reducing contractor interfaces and improving coordination from project planning through execution.Under the partnership…
Oil Jumps 3% on Renewed US-Iran Conflict
Oil prices surged more than 3% on Monday after renewed military strikes between the United States and Iran reignited concerns over energy shipments through the Strait of Hormuz.Brent crude futures LCOc1 were up $2.67, or 3.51%, to $78.68 at 0743 GMT, while U.S. West Texas Intermediate crude CLc1 was up $2.48, or 3.47%, to $73.89 a barrel."Shipping operators are adopting a cautious approach and inbound movements have slowed under heightening security concerns," ANZ analysts said.Fresh U.S. and Iranian strikes over the weekend fuelled fears of a renewed escalation. Tehran targeted U.S.
Hormuz Traffic Falls to Five-Week Low as Tensions Escalate
The number of vessels transiting the Strait of Hormuz fell to multi-week lows on Sunday, shipping data showed, as renewed strikes between the U.S. and Iran and attacks on ships in the Middle East heightened safety concerns.Six vessels transited the strait on Sunday, ship-tracking data from Kpler showed, the lowest number in five weeks.Tankers that exited the strait included the Very Large Crude Carrier Humanity, laden with 2 million barrels of Iranian oil and another tanker, Capetan Andreas…
Saipem, Subsea 7 Undergo EU Antitrust Investigation
Italian energy contractor Saipem's merger with Norwegian peer Subsea 7 is set to face a full-scale EU antitrust investigation because of competition concerns about the deal, people with direct knowledge of the matter said.The companies announced the deal in February last year to create a leading global player in offshore energy services, from drilling and engineering to laying subsea infrastructure for offshore oil and gas projects. Both operate a fleet of vessels for these services.The…
ADNOC L&S Orders Four LNG Carriers, Takes Delivery of VLAC Newbuild
ADNOC Logistics and Services (ADNOC L&S) has ordered four new liquefied natural gas (LNG) carriers from China’s Jiangnan Shipyard for about $900 million, expanding its LNG newbuild program to 18 vessels, while also taking delivery of the first of four very large ammonia carrier (VLAC) newbuilds.The four ships will each have a capacity of 175,000 cubic meters and are scheduled for delivery in 2029. They will be built at Jiangnan Shipyard in Shanghai.The agreement was signed during a visit to the shipyard by ADNOC Managing Director and Group CEO Sultan Ahmed Al Jaber.
Fincantieri Partners with Croatian Shipyards for MRC Corvettes Program
Italian shipbuilder Fincantieri has signed two memoranda of understanding with Croatian shipbuilding companies Brodotrogir Cruise and Iskra Shipyard in support of its participation in Croatia’s naval acquisition program for two Multi Role Corvettes.The agreements provide a framework for exploring cooperation in the design, engineering and construction of naval vessels in support of Fincantieri’s proposal for the MRC corvette program promoted by Croatia’s Ministry of Defense.The…
Kongsberg Maritime, KOTUG Pen Extended Tug Thruster Deal
Kongsberg Maritime has signed an extended thruster coverage agreement with KOTUG International to provide long-term propulsion service support for five newbuild azimuth stern drive tugs being deployed for offshore terminal operations in West Africa.The five vessels share a common configuration and will be treated as a single fleet under the agreement. Each tug is equipped with two Kongsberg Maritime US255 fixed pitch thrusters.The agreement will establish a structured lifecycle support framework based on an original equipment manufacturer-defined preventive maintenance plan…
Marco Polo, Siemens Gamesa Ink Two-CSOV Framework Agreement
Singapore-listed marine logistics company Marco Polo Marine's offshore wind division, PKR Offshore, has signed a framework agreement with Siemens Gamesa for the deployment and charter of two commissioning service operation vessels (CSOVs) for offshore wind projects in Asia.Under the non-exclusive agreement, PKR Offshore will provide two upcoming CSOVs to support Siemens Gamesa across multiple offshore wind projects in Taiwan. The companies will also work together on deploying…
LNG Tankers Resume Hormuz Crossings Amid Tensions
More liquefied natural gas tankers have resumed transiting the Strait of Hormuz in recent days, ship-tracking data showed, and 22 Japan-linked vessels have left the Gulf since Tuesday, Tokyo said, despite renewed fighting in the Middle East.The Strait of Hormuz, a key route for global oil and LNG shipments, has been closely watched by shipping companies and governments following Iranian attacks this week on commercial vessels and U.S.
Saitec Tests Nature Inclusive Design Installations at Floating Wind Platform
Saitec Offshore Technologies, through DemoSATH Lab, is using its operating floating wind demonstrator as a real-scale testing ground to study environmental interactions, improve monitoring methods, and explore solutions that support coexistence with marine biodiversity.Following the successful deployment of biomimetic reef solutions on the submerged section of the platform, the company is now testing new methods to co-locate floating wind and aquaculture.The recent offshore operation marks a new step in DemoSATH Lab's biodiversity program and forms part of the AQUASATH Project…
US Moves Forward with Delfin LNG Deepwater Port License
The U.S. Department of Transportation's Maritime Administration (MARAD) has decided to move forward with issuing a deepwater port license to Delfin LNG after a federal appeals court denied review of a legal challenge by environmental groups.The U.S. Court of Appeals for the Fifth Circuit denied the review, allowing MARAD to continue work toward issuing the license for the Delfin LNG deepwater port.Delfin FLNG 1 is planned as the first offshore LNG export project in the United States…
TotalEnergies Ships First ECA LNG Cargo from Mexico to Asia
TotalEnergies has shipped the first cargo produced by the ECA LNG Phase 1 export terminal on Mexico's Pacific coast to Asia as the facility undergoes commissioning.The company holds a 16.6% stake in the project alongside operator Sempra Infrastructure and will offtake 1.7 million tonnes per annum of LNG for 20 years from the start of commercial operations.TotalEnergies will be the sole LNG offtaker during the project's ramp-up phase.ECA LNG Phase 1, located in Baja California…
Hormuz Standoff Risks Chronic Instability for Gulf Oil Flows
The possible collapse of U.S.-Iran peace talks and the stop-start flow of tankers through the Strait of Hormuz are a nightmare scenario for Gulf nations desperate to return to normal after a bruising multi-month conflict.What was meant to mark the start of a fragile recovery following the June 17 memorandum of understanding between Tehran and Washington is instead evolving into a period of chronic instability, with each new incident reinforcing doubts over the security of one of the world's most important energy arteries.U.S.
Projectile-Hit Qatari LNG Tanker Awaits Rescue Off Oman
A Qatari LNG tanker remained stranded off Oman on Wednesday after a projectile strike sparked a fire in its engine room, though industry sources said the vessel's cargo appeared secure and the risk of an explosion was low for now.The attacks on the tankers prompted Washington to revoke a licence allowing Iran to sell oil and U.S. forces to strike Iranian targets overnight. President Donald Trump said on Wednesday an interim agreement to end the war with Iran was "over", comments that triggered a 5% jump in global oil prices.The U.S.
From Fixtures to Values: Where the Jackup Recovery Is Already Being Priced
Premium jackup dayrates have improved from 2025 lows and are now holding within a higher range, but pricing remains uneven across fixtures and geographies. That is important, but dayrates are only the starting point. On their own, they say very little about how much of that recovery is already priced into company valuations.© EsgianEsgian rig values suggest that the market has already started to move. Average premium jackup values declined through 2025, stabilised toward the end of the year, and have recovered gradually into 2026. The path is visible, but the move remains measured.
Island Oil Expands Fleet with Two Tankers
Island Oil has acquired two oil tankers, Island Polaris and Island Horizon, expanding its owned fleet and marine logistics capacity.The acquisitions form part of the company's long-term investment strategy to strengthen logistics capabilities and support demand for marine fuel transportation across the Mediterranean and Black Sea.The two vessels are double-hull tankers and will increase Island Oil's transportation capacity while supporting service reliability across its network…
Vessel Attacks Force Hormuz Tanker U-Turns
At least four oil and gas tankers have turned back from attempting to transit the Strait of Hormuz, ship-tracking data showed, as renewed attacks on vessels in the critical waterway heightened safety and security concerns.The diversions come after a Qatari liquefied natural gas tanker and a Saudi-flagged crude oil tanker were damaged near the strait on Tuesday following reports that Iran fired missiles at ships in the waterway, prompting maritime authorities to raise the threat risk for transiting vessels to "severe."The LNG tankers Al Ghariya…
Oil Surges 3% on Renewed US-Iran Strikes
Oil prices gained more than 3% on Wednesday after Iran and the U.S. military traded airstrikes and Washington reimposed crude sales sanctions on Tehran, raising fears their fragile truce was unravelling and Middle East supplies could be disrupted again.Brent crude futures LCOc1 gained $2.40, or 3.2%, at $76.56 a barrel at 0645 GMT. U.S. West Texas Intermediate crude CLc1 climbed $2.26, or 3.2%, to $72.70 a barrel.Both benchmarks rose about 3% on Tuesday after the U.S. revoked…
DOF Group Wins Contract Award in APAC Region
DOF Group ASA announced a large contract award for Subsea Construction and Pre Commissioning Support services in the APAC Region.Skandi Inventor will be deployed for the execution of the offshore operations scheduled to commence in Q4 2026 in North Australian waters.The scope of work includes DOF’s in-house project management and engineering, procurement and logistics support services. The duration of the offshore campaign is estimated to be between 160 and 250 days.
ADNOC, XRG and Mitsui Broaden Energy Cooperation
ADNOC and XRG have signed a strategic collaboration agreement with Mitsui to explore opportunities across liquefied natural gas (LNG), crude oil, sulfur, shipping and chemicals, as well as international energy investments through XRG.The agreement establishes a framework for collaboration in areas including crude oil market development and long-term supply, LNG sales and optimization, sulfur procurement and logistics, and shipping solutions for LNG, ammonia, sulfur and other commodities.Through XRG…
Solstad’s Normand Vision CSV Secures Work Through 2028
Solstad Maritime has secured a one-year contract extension for the construction support vessel (CSV) Normand Vision with Ocean Installer, keeping the vessel in operation under the agreement through the end of 2028.The extension will begin in direct continuation of the current agreement.The deal also includes two additional annual options covering 2029 and 2030, as well as a mechanism for a further extension until 2031.Normand Vision is a multi-purpose CSV designed and built for subsea structures, umbilicals, risers and flowlines (SURF) installation.
Oil Climbs on US-Iran Deal Uncertainty
Oil rose on Tuesday as traders' nervousness about a lack of progress on peace talks between the United States and Iran offset any price impact of a slight recovery in shipping through the Strait of Hormuz.Brent crude futures LCOc1 gained $1.02, or 1.42%, to $73.01 a barrel, while U.S. West Texas Intermediate crude CLc1 rose 93 cents, or 1.36%, to $69.48 a barrel as of 0748 GMT."The deal is by no means signed yet, so something can still go wrong and any comments from either side…
Commercial Ships Hit in Hormuz Missile Attacks
Iran's Revolutionary Guards fired at least two missiles at commercial ships transiting through the Strait of Hormuz on Monday night, Axios reported, citing two U.S. officials.Two commercial ships suffered significant damage but had no casualties, the report said, citing a U.S. official.Separately, Britain's maritime security agency said a tanker caught fire after being hit by an unknown projectile east of Oman's Limah early on Tuesday.The United Kingdom Maritime Trade Operations…
Fincantieri Strikes Four Deals in $687M Underwater Expansion
Italian shipbuilder Fincantieri has agreed to acquire majority stakes in four companies for an initial expenditure of about $687 million (€600 million), expanding its capabilities in marine drones, subsea services and underwater communications across commercial and defense markets.The agreements cover acquisitions of majority stakes in Next Geosolutions, WSense, Graal Tech, and Defcomm, which will be integrated into Fincantieri’s Underwater technological hub.Next Geosolutions…
Bernhard Schulte Takes Delivery of Final CSOV in New Fleet Series
Bernhard Schulte Offshore (BSO) has taken delivery of Windea Clarke, the fourth and final commissioning service operation vessel (CSOV) in its latest newbuild series, with the vessel set to enter a seasonal charter on a UK North Sea offshore wind project.The vessel was christened on June 30 at Ulstein Verft in Norway and completes a series of four new CSOVs integrated into BSO’s offshore fleet since mid-2025.With the latest delivery, BSO’s offshore fleet comprises seven vessels.Like its sister vessels…
South Korea’s Largest Cable Layer Starts Taking Shape in Türkiye
LS Marine Solution, a subsidiary of LS Cable & System, has started construction of a next-generation cable laying vessel (CLV) designed for long-distance high-voltage direct current (HVDC) and large-scale offshore wind grid projects.A steel-cutting ceremony for the new CLV was held at Tersan Shipyard in Türkiye, with delivery scheduled for the first half of 2028.The vessel will have a cable loading capacity of 13,000 tons and is set to become South Korea’s largest cable layer.Its capacity will allow long-distance cables to be installed in a single voyage…
Iran-Qatar Maritime Trade Resumes After Five-Month Halt
Maritime trade between Iran and Qatar has resumed after a roughly five-month suspension, Iran’s commercial attaché in Doha told state media on Sunday.An interim deal between Tehran and Washington signed last month announced the end of hostilities after a four-month conflict and mandated a return to pre-war maritime traffic in the Gulf, although transit in and out of the Gulf remains contested.Abbas Abdolkhani said shipping between Iran’s Dayyer port and Qatar’s Al Ruwais port…
Ten Japan-Linked Vessels Exit Hormuz After Iran War Disruption
A fleet of 10 Japan-linked vessels was exiting the Strait of Hormuz on Monday while a supertanker carrying Saudi crude for South Korea left over the weekend, shipping data on LSEG showed, after the ships were stranded in the Gulf for months because of the Iran war.The Japan-linked ships include six very large crude carriers loaded with 12 million barrels of Middle Eastern crude, two chemical tankers, a vehicle carrier and a container ship, the data showed. The tankers are carrying crudes from Saudi Arabia…
Australia Deepens Review of Subsea7-Saipem Merger
Australia's competition regulator said on Friday the proposed merger of energy contractors Subsea7 and Saipem would face a second-phase review over concerns it could reduce competition in key offshore oil and gas services.Here are a few details:The Australian Competition and Consumer Commission (ACCC) said the deal could lessen competition in the supply of certain subsea infrastructure used to connect underwater wells and production systems to surface facilities.The regulator described the services as critical to Australia's offshore oil and gas sector.The decision came a little over a week af
Ukrainian Drone Attack Hits St Petersburg Oil Terminal
Russia's second city of St Petersburg and the surrounding region came under a major Ukrainian drone attack overnight on Saturday, with a local port and oil infrastructure hit, Russian and Ukrainian authorities said, as Kyiv's drone strikes continue to deepen fuel shortages in Russia.St Petersburg Governor Alexander Beglov said the city of 6 million had been subjected to a "large-scale" drone attack, with the city's oil terminal struck. He said there were no casualties and that the aftermath of the attack had been dealt with.Alexander Drozdenko…
Alternative-Fuel Vessel Orders Slow Down in First Half of 2026, DNV Finds
Orders for alternative-fueled vessels totaled 137 in the first half of 2026, down from 155 in the same period a year earlier, according to figures from DNV's Alternative Fuels Insight (AFI) platform.DNV’s AFI has recorded 15 new orders for alternative-fueled vessels in June 2026.This consisted of 10 orders for LNG-fueled vessels, nine of which were car carriers and one a CO2 carrier. The remaining five orders were for LPG/ethane carriers.Two LNG-bunker vessels were also ordered in June…
ADNOC’s XRG Expands Stake in Rio Grande LNG Project in Texas
ADNOC’s XRG has completed the acquisition of an additional equity interest in Trains 4 and 5 of the Rio Grande LNG project in Texas, increasing its participation across all five trains currently under construction at the liquefied natural gas (LNG) export facility.The transaction increases XRG's overall participation in the NextDecade-operated project through the acquisition of an additional 7.6% equity interest in Trains 4 and 5 from an acquisition vehicle of Global Infrastructure Partners…
Boskalis, Van Oord to Expand Swedish Port with $570M Dredging Job
Boskalis and Van Oord have been awarded a dredging contract worth approximately $570 million (€500 million) for the expansion of the Port of Luleå in Sweden.The contract was awarded by the Swedish Maritime Administration and the Port of Luleå and will be executed by a joint venture between the two companies, with the contract value split equally.Under the contract, the joint venture will deepen the port's fairway and harbor basin to accommodate vessels with a draft of up to 14.7 meters and a cargo capacity of up to 85…
Kongsberg Secures Critical Infrastructure Protection Deal
Kongsberg has signed a contract with an unnamed international customer to deliver technologies for the protection of critical infrastructure.The project will focus primarily on underwater surveillance and protection, according to Kongsberg, which did not disclose the value of the contract.Critical infrastructure includes oil and gas installations, telecommunication cables, energy grids, ports and transportation networks.“Preventing and detecting threats and attacks are essential to protect people and critical infrastructure.
Sydney Expands Ferry Fleet with Two Newbuilds
Sydney has completed the rollout of its new Parramatta River Class ferry fleet, with the delivery of the final two vessels enabling the addition of 136 weekly services on the city's Parramatta River route.The final vessels, Norman Selfe and Jack Mundey, were designed by Incat Crowther and built by Richardson Devine Marine in Tasmania for Transport for New South Wales. The seven-vessel fleet carries up to 200 passengers per vessel and primarily serves the route between Parramatta and Circular Quay.According to Transport for NSW…
ABS Backs bound4blue Methodology for Wind Propulsion Compliance
Classification society ABS has reviewed bound4blue's methodology for calculating Pwind values used to quantify the contribution of the company's eSAIL suction sails toward compliance with maritime emissions regulations.The review covered the company's methodology for producing aerodynamic force matrices used in Pwind calculations for the Energy Efficiency Design Index (EEDI), the Energy Efficiency Existing Ship Index (EEXI) and FuelEU Maritime compliance.bound4blue said the methodology combines computational fluid dynamics (CFD) modelling…
MODEC Advances Construction of Brazil-Bound Gato do Mato FPSO
MODEC has completed the forward hull section of floating production, storage and offloading (FPSO) vessel Gato do Mato, marking a key construction milestone for the Brazil-bound offshore production unit.The forward hull section, built at Sumitomo Heavy Industries Marine & Engineering's Yokosuka shipyard in Japan, has departed for China, where it will be integrated with the aft hull section before the vessel moves to the next stage of construction.The project is the first to use…
DEME Expands Fleet with Next-Gen Hopper Dredger Order
Belgian marine contractor DEME has ordered a next-generation trailing suction hopper dredger (TSHD) as part of a fleet expansion aimed at improving efficiency in dredging, land reclamation and offshore seabed preparation.The new vessel will have a hopper capacity of 22,000 cubic meters and is designed to reduce greenhouse gas intensity and lower dredging costs compared with existing vessels in the same segment, the company said.The dredger will feature an advanced propulsion system, a hydrodynamically optimized hull, improved dredging technology and a high level of automation.
Oil Hits Four-Month Low After US-Iran Doha Talks
Oil prices fell for a third consecutive day on Thursday as concerns over supply disruptions eased after Qatar said Iran and the U.S. had made progress in talks over the Strait of Hormuz.Brent futures LCOc1 were 66 cents or 0.92% lower at $70.91 a barrel at 0758 GMT, while U.S. West Texas Intermediate crude CLc1 fell 59 cents or 0.86% to $67.99 a barrel, their lowest level since February 27.The talks made "positive progress" on matters related to the memorandum that halted the war in June…
Castor Maritime Buys Second Kamsarmax Bulker, Takes Delivery of Two Vessels
Castor Maritime has acquired a 2024-built Kamsarmax bulk carrier for $41.9 million and completed the delivery of a second vessel, expanding its fleet to 11 ships.The company said it acquired the M/V Magic Saturn from an unaffiliated third party through a wholly owned subsidiary and took delivery of the vessel on June 29.On June 29, Castor also took delivery of the M/V Magic Jupiter, a 2023-built modern eco Kamsarmax bulk carrier, following an acquisition agreement announced on June 22.Both vessel acquisitions were funded with cash on hand…
A.P. Moller Holding to Acquire Ocean Yield from KKR
A.P. Moller Holding has agreed to acquire 100% of Oslo-based ship leasing company Ocean Yield from funds managed by investment firm KKR, expanding its maritime portfolio.Ocean Yield has interests in more than 70 vessels across several shipping segments, including gas carriers, LNG carriers, container ships, crude, product and chemical tankers, and dry bulk carriers.Under KKR's ownership since 2021, Ocean Yield has invested more than $3 billion to expand its portfolio, diversify its investment-grade customer base and nearly double its long-term contracted backlog to more than $5 billion…
German Prosecutors Charge Ukrainian in Nord Stream Blasts Case
German federal prosecutors said on Thursday that a Ukrainian national tied to the Nord Stream pipeline blasts has been charged with being an accomplice to a war crime, disruption of public services, causing an explosion and destroying structures.Serhii K, as the suspect is known under German privacy rules, is suspected of acting on behalf of Ukrainian government entities, along with other military personnel, to destroy the pipelines in 2022.The aim was to permanently halt gas deliveries…
Svanehoj Lands First LNG Carrier-to-FSU Conversion Job
Danish marine equipment supplier Svanehoj has secured its first contract to supply LNG tank gauging systems for the conversion of a liquefied natural gas (LNG) carrier into a floating storage unit (FSU).The company will deliver four LNG density and temperature (LTD) gauging systems to Drydocks World Dubai for the conversion of the LNG carrier LNG Bayelsa into the FSU Cap Lopez.The conversion is being carried out for Dixstone Lower Gulf FZCO as part of a floating LNG development aimed at expanding Gabon's offshore gas infrastructure.
DOF Bags TotalEnergies Contract for FSO Replacement Project
DOF Group has secured a contract from TotalEnergies to provide subsea construction and mooring services for the floating storage and offloading (FSO) Unity Replacement Project.The contract covers engineering, transportation and installation of mooring systems, as well as subsea construction work, including the disconnection of the existing floating storage and offloading (FSO) unit and the connection of its replacement.Project management and engineering activities will begin immediately from DOF's offices in Aberdeen…
Nord Gas to Supply LNG Regasification System for Exmar FSRU Conversion
Nord Gas Solutions has secured a contract to supply an LNG regasification system for Belgium-based Exmar as part of the conversion of a floating storage regasification unit (FSRU) that will support the expansion of the EemsEnergyTerminal in Eemshaven, the Netherlands.The order, booked in the second quarter of 2026, covers the delivery of a regasification system module that will be installed on the converted FSRU to boost LNG import capacity at the Dutch terminal.Exmar said the project forms part of efforts to strengthen Europe's energy security, with the new regasification system playing a key
MacGregor Expands Offshore Crane Modernization Backlog
MacGregor has secured a series of offshore load handling modernization and upgrade contracts during the first half of 2026, strengthening its position in the offshore services market.The contracts, booked in the company's first- and second-quarter 2026 order intake, cover engineering, upgrades and modernization projects aimed at improving the performance and extending the operational life of offshore cranes and other load handling equipment.Among the projects is the complete replacement of crane control systems with MacGregor's latest technology…
Container Ship Runs Aground Outside Iran-Approved Hormuz Route
Iran's state media said on Wednesday a foreign container ship ran aground in the Strait of Hormuz after entering shallow waters outside the shipping route designated by Iranian authorities.State media reiterated the Revolutionary Guards' warning that vessels should transit only through the corridor south of Iran's Larak island, which Tehran says is the sole approved entry and exit route for ships passing through the strait.(Reuters - Reporting by Dubai Newsroom; Editing by Alex Richardson)
MOL, IBM Japan Launch AI Platform for Vessel Operations
Mitsui O.S.K. Lines (MOL) and IBM Japan have jointly developed an artificial intelligence (AI)-powered platform designed to support decision-making in vessel operations by integrating operational, weather and geopolitical information.The platform, which went live on July 1, is centered on MOL's Safety Operation Supporting Center (SOSC), which monitors and supports the safe operation of MOL-affiliated vessels worldwide.The companies said the platform consolidates weather and sea condition data…
Aker Solutions Secures Offshore Wind HVDC Substructure Contract
Aker Solutions has been awarded a substantial contract to deliver a high-voltage direct current (HVDC) substructure for a European offshore wind project by an undisclosed customer.The company's scope of work includes engineering, procurement and construction.Aker Solutions said it will book the award as order intake in the second quarter of 2026 in its Renewables and Field Development segment.The company defines a substantial contract as having a value of between $250 million (NOK 2.5 billion) and $400 million (NOK 4.0 billion).The customer and the offshore wind project were not disclosed.
Veson Nautical Launches AI-Powered Platform for Maritime Trade
Maritime software provider Veson Nautical has launched the Veson Platform, a unified platform that combines its IMOS operating system, CoCaptain artificial intelligence tools, communication capabilities and new data products under a single interface.The company said the new platform integrates IMOS, CoCaptain, Mail, Vessel Insights and Bunker Insights to provide maritime companies with workflows, collaboration tools and data on one platform.For more than 20 years, IMOS has served as an operating system for commercial maritime trade…
Asyad, CMA CGM Partner on $400M Logistics Terminal in Oman
Oman's Asyad Group and France's CMA CGM Group have signed a framework agreement to develop, manage and operate a multipurpose logistics terminal in Sohar, establishing a strategic partnership aimed at boosting maritime connectivity and opening new regional trade corridors.The agreement, signed during the official visit of Sultan Haitham bin Tarik to France, provides the framework for the development of a new $400 million multipurpose logistics terminal in Sohar.The companies said the project would enhance integrated logistics services and supply chain solutions…
Shell Forecasts 65% Surge in Global LNG Demand by 2050
Global liquefied natural gas demand is expected to rise by around 65% by 2050, driven largely by Asia as countries seek lower-emission alternatives to coal and data centres boost power demand, Shell said in an annual report on Tuesday.Global demand is likely to reach nearly 700 million metric tons a year by that date, the world's largest trader of the superchilled fuel said in its 2026 LNG Outlook.LNG trade, which reached 422 million tons in 2025, had been set to increase in 2026, it added.
ABS Helps Blaze a Digitization Path, Reshaping Offshore Energy
The offshore energy industry is in the midst of a new investment cycle, driven by major developments in South America, renewed demand for energy security and an increasing reliance on digital technologies to improve asset performance. For Matt Tremblay, Senior Vice President, Global Offshore at the American Bureau of Shipping (ABS), the opportunities are significant — but so are the challenges.Speaking with Offshore Engineer in Houston, Tremblay described an industry that is “very busy…
Eldorado-Vantage Merger Signals Continued Offshore Drilling Consolidation
On 29 May 2026, Vantage Drilling International and Eldorado Drilling signed a merger agreement under which Eldorado will acquire Vantage, making it a wholly owned subsidiary. As part of the transaction, Vantage shareholders will receive $19 per share in cash, valuing the company at approximately $257.6 million. The combined entity will continue to operate under the name Vantage Drilling International.Post-transaction, the company’s fleet will comprise four drillships - including…
Duke Energy to Terminate NC Offshore Wind Lease
Duke Energy will terminate its offshore wind lease in the Carolina Long Bay area under a settlement agreement with the U.S. Interior Department and reinvest nearly $129 million in additional power generation capacity in the Carolinas, the department said on Monday.(Reuters)
DOF Extends Charter for MPSV in Australia for One More Year
Norwegian offshore vessel owner DOF has secured a one-year contract extension for its multi-purpose supply vessel (MPSV) Skandi Darwin in Australia.The company said the vessel's current client exercised an extension option that will keep the 2012-built vessel working in Australia until the third quarter of 2027.DOF did not disclose the name of the client or financial terms of the extension.Skandi Darwin is of the MT 6015 MPSV design and is equipped with a multi-application cargo system, with tank capacities dependent on configuration and the products carried.
TGS Gets Exclusive Rights for Seismic Survey Offshore Brunei
TGS has secured exclusive rights from the Petroleum Authority of Brunei Darussalam to undertake a multi-client 3D seismic survey offshore Brunei.The contract covers the acquisition, processing and marketing of new 3D seismic data under a multi-client model.TGS said the project would allow it to seek industry prefunding to deliver new seismic data aimed at improving understanding of reservoir potential, de-risking exploration leads and supporting investment decisions ahead of future…
Dutch Firm Secures $465M Funding for Mexico-Bound FSO
SBM Offshore has secured project financing worth $465 million for the Chalchi floating storage and offloading (FSO) vessel, being built for Woodside Energy's Trion project offshore Mexico.The financing has been provided by a consortium of international banks and institutional investors and includes partial insurance cover from China Export & Credit Insurance Corporation.SBM Offshore said the financing would be drawn during the construction period and would become non-recourse after the vessel starts operations.
