Ofgem: May Reject Penalty Exemption for National Grid-SP Energy Project
Britain's energy regulator Ofgem does not believe an electricity transmission project developed by National Grid Electricity Transmission and SP Energy Networks qualifies to be exempt from penalties related to delays, it said on Thursday.The joint venture between the units of National Grid NG.L and Spain's Iberdrola IBE.MC had requested a 480-day exemption from penalties related to completion delays…
Sale of AUKUS Nuclear Submarine Scrutinized as US Tariffs Impact Australia
The sale of nuclear-powered submarines to Australia under the AUKUS treaty faces new doubts as U.S. President Donald Trump's tariffs take hold, and amid concern in Washington that providing the subs to Canberra may reduce deterrence to China.Whether the United States can boost submarine production to meet U.S. Navy targets is key to whether Australia can buy three Virginia-class submarines starting in 2032, Defence Minister Richard Marles said last month, after talks with his U.S.
Bardex in the Running for 2025 Ventus Award With OmniCrane™
Bardex, a global leader in products and engineering services that tackle marine-based challenges, is honored to be a Ventus Award finalist. The awards, in eleven categories, recognize and celebrate people and products that advance the feasibility and adoption of offshore wind and other ocean renewables. Bardex was selected as one of four finalists in the Health, Safety & Environment category for its proprietary OmniCrane…
R.M. Young: President Transition as Namesake Tom Young Retires
R.M. Young Company, a leader in meteorological instrumentation, announced the retirement of President Tom Young, marking the end of an era for the family-founded and operated company. Tom, who has been an integral part of the company since 1991, officially stepped down as President on April 1, 2025. He is succeeded by Eric Mannix, President and CFO.Tom Young’s career at R.M. Young Company spans over three decades…
Subsea7 Secures Contract Extension for Seven Viking Subsea Vessel
Eidesvik Seven Chartering, a joint venture company between Subsea7 and Eidesvik Offshore, has entered into an agreement with Subsea7 to extend the contract for the subsea vessel Seven Viking.Subsea7 declared the remaining option for 2026 and 2027 was added as a firm year in addition to an option for 2028.The 2027 and 2028 rates are based on current market terms. “We are very pleased to see this new…
ClassNK Greenlights Mitsubishi’s CCS System Onboard Ships
ClassNK has issued an approval in principle (AiP) for an Onboard Carbon Capture and Storage system (OCCS) developed by Mitsubishi Shipbuilding.The certification confirms its feasibility from regulatory and safety perspectives.Interest in CO2 capture the method from exhaust gases is growing alongside fuel conversion as part of efforts to reduce GHG emissions from ships.In response, the development of OCCS is progressing.
Fincantieri, Accenture Launch JV for Cruise, Defense and Ports Digitalization
Fincantieri and Accenture have signed an agreement to establish Fincantieri Ingenium, a new joint venture created to accelerate digital transformation across the cruise, defense, and port infrastructure sectors. The company will be owned 70% by Fincantieri NexTech – a subsidiary of the Fincantieri Group – and 30% by Accenture.The initiative stems from a memorandum of understanding (MoU) signed in July…
EU Puts Countermeasures on Hold Following Trump's Tariffs Frieze
The European Union will pause its first countermeasures against U.S. tariffs after President Donald Trump temporarily lowered the hefty duties he had just imposed on dozens of countries, European Commission chief Ursula von der Leyen said on Thursday.The bloc was due to launch counter-tariffs on about 21 billion euros ($23.25 billion) of U.S. imports from next Tuesday in response to Trump's 25% tariffs on steel and aluminium. It is still assessing how to respond to U.S.
Trump Signs Executive Order to Revitalize US Maritime Industry
U.S. President Donald Trump has signed an executive order aimed at ‘restoring American maritime dominance’ through the revival of domestic shipbuilding industry and weakening China’s grasp on the global shipping market.The Order directs the creation of a Maritime Action Plan (MAP) to revitalize U.S. maritime industries, which will provide a strategy with specific actions to restore and create sustained resiliency for the American maritime industry.Up until now…
Master of Grounded Passenger Vessel was Asleep at Helm
New Zealand’s Transport Accident Investigation Commission has released its report into the grounding of the passenger vessel Fiordland Navigator – attributing the accident to the fatigued master who fell asleep at the helm.The accident occurred on January 24, 2024. The Fiordland Navigator ran aground while making a turn in Doubtful Sound. There were nine crew and 57 passengers on board, and several people received minor injuries.
BIMCO Approves Revisions to War Risk Clauses
The Documentary Committee of BIMCO has approved revisions to its War Risk Clauses to reflect changes in the geopolitical challenges facing the shipping industry.The Documentary Committee reviewed the existing BIMCO War Risk Clauses and agreed on the updated versions, BIMCO War Risk Clause for Voyage Charter Parties 2025 (VOYWAR 2025) and the BIMCO War Risk Clause for Time Charter Parties 2025 (CONWARTIME…
“Bank Effect” Caused Tanker to Strike Pier
A tank vessel struck a pier at Joint Base Charleston’s Naval Weapons Station in South Carolina after a pilot allowed the vessel to get too close to a riverbank, the National Transportation Safety Board (NTSB) said Wednesday.The 604-foot-long tanker Hafnia Amessi struck Naval Weapons Station Pier B while transiting the Cooper River on January 14, 2024. A Charleston Branch Pilots Association pilot was navigating the vessel, which sustained damage to its side hull plating.
Spark Gas Conversion Reduces Methane Slip on LNG Carriers
Wärtsilä has introduced a new methane slip reduction solution for its Wärtsilä 50DF dual-fuel engine. The new technology, which converts Wärtsilä 50DF dual-fuel (DF) engines to spark gas operation, enables a more optimized combustion process, thereby improving efficiency and lowering methane emissions.Whilst operating on LNG, the conversion is designed to reduce methane emissions up to 75% more than…
Drones to Supply Royal Navy Carrier Strike Group
For the first time a fleet of drones will fly crucial supplies between ships of the UK Carrier Strike Group when it deploys to the Indo-Pacific later this month.Alongside its F35B stealth jets and naval helicopters, flagship HMS Prince of Wales’ air group will also consist of nine powerful octo-copters for remotely moving items – food, packages from home and engineering parts – around the task group.The…
Windward Tracks Change to GPS Jamming Hotspots
Winward’s latest report, focused on Q1 2025, indicates a major change in how vessels experiencing GPS jamming are appearing on tracking maps.The average distance vessels “jump” to when their AIS is jammed grew from 600km in Q4 2024 to 6,300km in Q1 2025. “This distance completely disrupts trade and safety measures at sea, making it nearly impossible to track vessels within any realistic or relevant geographical vicinity…
Nigerian Company Orders VLGC
Temile Development Company has signed a contract with HD Hyundai Heavy Industries (HHI) for the construction of one firm plus one optional 88,000 cubic meter very large gas carrier (VLGC).The from HHI is the largest panamax-beam VLGC in the world and will be fitted with an LPG dual fuel main engine and a shaft generator. It features two deck tanks of 900 cbm total capacity, allowing seamless grade…
FMD and HD Hyundai Heavy Industries to Collaborate on Naval Projects
Fairbanks Morse Defense (FMD) and HD Hyundai Heavy Industries (HHI) have signed a memorandum of understanding (MoU) to explore opportunities for collaboration on future international Navy initiatives.FMD has served the U.S. Navy, U.S. Coast Guard, and Military Sealift Command for nearly a century, providing a comprehensive portfolio of OEM parts, turnkey services and advanced marine technologies.“The U.S.
Russian Seaborne Oil Exports Remain Largely Unaffected by New Sanctions
During the first quarter of 2025, Russian oil exports have fallen 6% year-on-year. Clean tanker exports were down 13% while dirty tanker exports fell 4%. “Despite the fall, it appears that exports have mostly been unaffected by the recent sanctions,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.In early January, the Biden Administration ramped up the pressure on Russian oil exports by sanctioning…
Trump to Push Allies to Conform to Chinese Vessel Fee Plans
U.S. President Donald Trump signed an executive order on Wednesday aimed at reviving U.S. shipbuilding and reducing China's grip on the global shipping industry.Republican and Democratic U.S. lawmakers for years have warned about China's growing dominance on the seas and diminishing U.S. naval readiness.The order directs the U.S. Trade Representative to move ahead with a plan that includes levying U.S.
NOC Launches Innovation Hub to Power Ocean Tech and Blue Economy
The UK’s National Oceanography Centre (NOC) has unveiled a new Innovation Hub in Southampton, designed to accelerate advances in ocean technology and support sustainable growth across the blue economy. Backed by a £200,000 investment, the facility will serve as a catalyst for innovation in marine autonomous systems (MAS), the blue economy and beyond—bringing together researchers, businesses and entrepreneurs…
