Fincantieri Presents Underwater Segment, Revenue Expected to Reach 920 Million in 2027
During the DEEPDIVE - Analyst and Investor Underwater Day held in Milan, Fincantieri presented its long-term strategic vision for the development of its underwater segment to the financial community.Accounting for about 4% of Group revenue in 2024, the segment is set to double in 2027, reaching 8%, with expected revenue of approximately USD$920 million (820 million euros) and estimated EBITDA of USD$170 million (152 million euros), with an EBITDA margin approaching 19%.
TDI-Brooks Completes Geological Assessment in the Gulf of Mexico
TDI-Brooks has recently finalized a geological evaluation in the Gulf of Mexico on behalf of Enbridge. For this project, TDI-Brooks utilized the R/V BROOKS MCCALL, executing 38 piston cores (PC), 7 gravity cone penetration tests (gCPTs), and 82 box cores (BC). TDI-Brooks has conducted previous geotechnical projects for Enbridge in the Gulf of Mexico. All samples gathered will be examined at TDI-Brooks' Geotechnical Laboratory located in College Station, Texas.
St. Johns Ship Building Delivers Third CTV for U.S. Offshore Wind Operations
St. Johns Ship Building, a Palatka, Florida-based Jones Act-compliant shipyard owned by Americraft Marine, announced the delivery of the WINDEA Reliance, the third and final vessel in a series of 30-meter aluminum Crew Transfer Vessels (CTVs) built for WINDEA CTV LLC, a partnership between MidOcean Wind and Hornblower Wind.This delivery completes a three-vessel build program that includes the WINDEA Courageous, WINDEA Enterprise, and now WINDEA Reliance—all constructed at St.
Grieg Logistics Will Rebrand to Inchcape Shipping Services
Grieg Logistics, which Inchcape Shipping Services acquired in June 2024, will officially change its name to Inchcape Shipping Services today, May 19, 2025. This rebranding marks Grieg Logistics' full integration into the Inchcape family.This transition will preserve Grieg Logistics’ best aspects and enhance them with Inchcape's global network, local experience, investments in technology, and service portfolio.
Sanmar Marks Milestones in Electric Tugboat Construction and Operation
Construction is underway of six more emissions-free fully electric ElectRA Series tugboats at Sanmar’s shipyards in Türkiye.Part of a project unveiled in 2021, a total of eight ElectRA tugs have been delivered so far and are now operating in Europe and America.Among those under construction is an ElectRA 2500SX for international operator Svitzer, which is due to be delivered in the second half of 2025…
ABS' Wiernicki Addresses Engineering Grads
“Remember, you have been expressly trained to become the leaders of tomorrow. And we will need your leadership vision, not to mention every bit of your ingenuity and sweat, if we are to continue to prosper and grow.”That was the message for students from ABS Chairman and CEO Christopher J. Wiernicki at the 141st George Washington University (GW) School of Engineering and Applied Science Graduation Celebration.
US Gulf Coast’s First LNG Ship Bunkering Hub Secures Final Permits
A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year, executives involved said on Monday.The global shipping industry has been looking for fuel solutions to cut carbon emissions, with LNG seen as a cleaner alternative.U.S. President Donald Trump's administration…
Investcorp to Invest $550M in Oman’s Port of Duqm Expansion
Alternative investment firm Investcorp has signed a cooperation agreement to invest in a $550 million infrastructure project in Port of Duqm in Oman.Investcorp Aberdeen Infrastructure Partners (AIIP) – a joint venture with Aberdeen plc, will be the shareholder in the project, alongside the Port of Duqm Company, the DEME Group and Port of Antwerp Bruges (jointly formed a consortium named CAP INFRA).This…
Guyana Passes Bill Making Firms Liable for Oil Spill Damages
Guyana's parliament passed an oil pollution bill late on Friday that holds parties liable for damages caused by oil spills, including from vessels.The bill, which passed with a majority of votes cast in a simple voice vote, is expected to soon be signed into law by President Irfaan Ali.Guyana, whose oil production is controlled by an Exxon Mobil-led XOM.N consortium is expected to surpass 900,000 barrels per day (bpd) this year.
Lamprell, Dong Fang Offshore Sign Wind Turbine Installation Vessel Deal
Lamprell has signed a memorandum of understanding (MoU) with Dong Fang Offshore (DFO) for a newbuild NG-9000X wind turbine installation and maintenance vessel.The newbuild vessel will support offshore wind activities in the Asia Pacific region and will be designed to accommodate the latest generation of turbines.The MoU outlines steps for collaboration between DFO, Lamprell, and prospective regional clients…
Akastor Cancels $25M Sale of Skandi Peregrino AHTS Vessel
Akastor’s fully-owned subsidiary DDW Offshore has canceled the sale of Skandi Peregrino anchor handling tug supply (AHTS) vessel.The agreement to sell Skandi Peregrino AHTS, first announced in early March 2025, was conditional on charterer's consent.At the time, Akastor reported the purchase price was $25 million by an unnamed buyer, with the agreement expected to be completed in the second quarter of 2025.Since the charterer has not accepted to novate the relevant contract on the vessel…
Ship Recyclers Face Confusing Market Fundamentals
Ship recycling markets saw the U.S. dollar surge against nearly all ship recycling nation currencies (except China) last week, reports cash buyer GMS.Steel plate prices firmed / declined / flatlined in a series of confusing signals to ship recyclers and the industry at large. “The recent trimming of tonnage at the bidding tables also seems to be easing as local port positions in both India and Bangladesh reported a healthy collection of arrivals and deliveries this week.”In Bangladesh…
EU Ministers Sign Non-Protectionist Maritime Strategy Declaration
EU ministers signed the Szczecin Declaration on the EU maritime industrial strategy during the 11th International Maritime Congress in Poland last week.European Shipowners have welcomed the move, saying that at a time of rising protectionism across the world, the Declaration sends a strong signal that Europe does not need protectionist measures, but investments to bridge the innovation gap and to make…
Coast Guard Investigates Fires in Puerto Rico
The US Coast Guard Sector San Juan marine investigators and vessel inspection teams are investigating two separate and unrelated vessel fires in Puerto Rico.Both vessel fires were successfully extinguished, and there are currently no reports of marine pollution or reported injuries in either case.The most recent vessel fire occurred Saturday morning aboard the M/T Scot Stuttgart, a Marshall Islands flagged 383-foot chemical tank ship…
International Day for Women in Maritime: An Ocean of Opportunities
This year’s International Day for Women in Maritime, celebrated annually on May 18, spotlights pathways for women’s leadership, participation and impact in the global ocean economy. Women make up less than 20% of the maritime workforce onshore, with significantly lower participation at sea.
Estonia Says Russia Detained Tanker in Baltic Sea
Russia detained a Greek-owned oil tanker on Sunday after it left an Estonian Baltic Sea port, the Estonian Foreign Ministry said, adding it had alerted NATO allies to the incident.The Liberia-flagged ship Green Admire was leaving Sillamae port using a designated navigation channel that crosses Russian territorial waters, the ministry said in a statement."This is definitely connected to the fact that we have started to harass Russia's shadow fleet…
Mexican Navy Ship Slams into Brooklyn Bridge: 2 Dead, 17 Injured in NYC Tragedy Update
A Mexican Navy sailing ship festooned with lights and a giant flag crashed into the landmark Brooklyn Bridge on Saturday night, shearing the top of its masts, killing two people and injuring several others, New York City Mayor Eric Adams said.Videos online showed the training vessel Cuauhtémoc as it approached the bridge over the East River, close to the Brooklyn side of the span, which connects the…
New Survey Data Highlights Lack of Gender Diversity in Maritime Industry
The second Women in Maritime survey, jointly published by the International Maritime Organization (IMO) and the Women’s International Shipping & Trading Association (WISTA), provides new insights into gender diversity within the industry. The report presents data on the proportion and distribution of women working in the maritime sector from IMO Member States and the private sector.The results are…
US Freight Industry Hopes for Back-to-School Demand Boost After Tariff Truce
A 90-day trade thaw between Washington and Beijing could prove to be a welcome reprieve for the U.S. freight industry, as importers rush to lock in shipments ahead of the busy back-to-school period, experts said.The $906 billion U.S. trucking industry, in particular, has been facing a nearly three-year-long slowdown due to overcapacity, which was worsened by President Donald Trump's recent tariffs…
CMA CGM to Redeploy Fleet to Avoid US Port Fees on Chinese Vessels
French shipping group CMA CGM will reorganise its global fleet to avoid U.S. port fees on Chinese-built vessels that are due to take effect from October, the company's finance director said.The port charges are another operational headache for shipping firms wrestling with the fallout from U.S. tariffs, though adjustments made by Washington after an industry backlash have made the fee scheme less disruptive than feared, Ramon Fernandez, CMA CGM's chief financial officer, told Reuters.U.S.
