Mexico's Pemex Plans to Export Less Oil as New Refinery Starts Up
The trading arm of Mexico's state company Pemex, PMI, is anticipating a reduction in crude oil exports this year as more will be sent to local refineries, especially the new Olmeca refinery, a company director said on Monday.Once the country's newest refinery is fully operational and able to process 340,000 barrels per day (bpd), it will receive about 100,000 bpd of crude oil, Margarita Perez, the head of PMI, said at an event.This would lift local processing to 1.2 million bpd, she added, leavi
Terna, IPTO Sign Two Billion Euro Deal on Italy-Greece Power Connection
Italian power grid operator Terna and its Greek counterpart IPTO signed on Monday a deal worth nearly 2 billion euros ($2.2 billion) on a new undersea electricity interconnector between Italy and Greece.The deal was announced after Italian Prime Minister Giorgia Meloni hosted a summit with her Greek counterpart Kyriakos Mitsotakis at Rome's 17th-century Villa Doria Pamphili, also involving ministers…
Fairbanks Morse Defense Announces New CEO
Fairbanks Morse Defense (FMD) is proud to announce Steve Pykett as he takes the helm as Chief Executive Officer. This transition marks a new chapter as the company continues to build on its legacy and drive forward into new opportunities for growth and innovation.Steve succeeds George Whittier, whose five-year tenure as CEO has left an indelible mark on FMD. Under George's guidance, the company experienced significant growth…
Fincantieri: Strong Growth in Q1 2025
Fincantieri has shared its interim financial results for the first quarter of 2025, showcasing growth across all business segments and achieving its best ever quarter in terms of new orders.Key highlights from the report include:Below are the key highlights from the report:Revenues totalled €2,376 million, up 35% compared to Q1 2024 (€1,767 million).EBITDA: €154 million, a 54% increase from Q1 2024 (€100 million)…
Ferguson Marine Welcomes New CEO
Ferguson Marine (Port Glasgow) Ltd has officially welcomed Graeme Thomson, who began his tenure as CEO at the beginning of May. Thomson, who started his career as an electrician by trade and got into shipbuilding as an apprentice, has extensive construction and shipbuilding experience. He joined Ferguson Marine from Babcock where he was Program Director, overseeing the delivery of Type 31 Royal Navy…
Bardex Technical Sales Engineer Selected for 2025 OTC Class of Emerging Leaders
Bardex Corp. is pleased to announce that the Offshore Technology Conference has awarded Daniel Toerner a spot in its 2025 Emerging Leaders class. Each year, the OTC recognizes up-and-coming professionals whose work in the energy industry demonstrates the kind of talent and commitment that puts them on a course toward being future leaders in the offshore energy sector. Each recipient of the award, who has been in the industry for fewer than 10 years…
Techcross to Showcase New Ballast Water Management Solutions at BARI-SHIP 2025
Techcross, a leader in ballast water management systems (BWMS), will make its first official appearance of the year at BARI-SHIP 2025, May 22-24, held in Imabari, Japan. At this event, Techcross will unveil the results of its ongoing R&D efforts, aiming to evolve from an equipment supplier into a total solution provider.At the center of the Techcross exhibit will be the Smart Platform, a system that utilizes satellite communication to collect and analyze real-time log data from installed BWMS.
Saildrone Names Former Vice Admiral as its New President
Maritime defense and oceanographic survey company Saildrone has appointed Vice Admiral John Mustin as its President, who will focus on growing the defense business.In his role, Mustin will work alongside Richard Jenkins, Saildrone founder and CEO.Mustin joins Saildrone following a distinguished 34-year career in the U.S. Navy. He most recently served as the 15th Chief of Navy Reserve and Commander…
US Firm Debuts 20K Intervention Solution at Gulf of America Deepwater Field
Texas-based subsea oil and gas equipment supplier Trendsetter Engineering has marked the first deployment of its Trident 20,000 psi (20K) intervention system at Beacon Offshore’s Shenandoah project in the Gulf of America.The Trident 20K intervention system was deployed from Transocean’s Deepwater Atlas drillship for a two-well flowback operation at the deepwater Shenandoah project.Trendsetter wet-hopped the Trident 20K system between wells…
ESVAGT, KMC Line to Launch Offshore Wind JV in South Korea
Danish vessel owner ESVAGT and South Korean shipping firm KMC Line have signed an agreement to establish a new joint venture KESTO, dedicated to the growing South Korean offshore wind market.Through a joint venture partnership with KMC Line, ESVAGT will deploy its expertise in the growing South Korean offshore wind market, where current plans include as much as 18.3 GW offshore wind to be established by 2030.
OpEd:Turning the Tide: How Trade Talks with China Could Revitalize the U.S. Maritime Industry — If Washington Gets It Right
As trade negotiations between the United States and China inch closer to resolution, stakeholders across multiple industries are holding their breath. For many, the focus is on tariffs…
Testy Times for Ship Recyclers
Sub-continent recycling markets have been on a negative spiral of late, especially ahead of the quieter monsoon season, reports cash buyer GMS.“Pakistani and Bangladeshi recyclers need to speed up their readiness and ensure yard compliance with the Hong Kong Convention by June 26th. While nearly all Indian yards are certified, the focus shifts to neighboring Pakistan and Bangladesh to get their facilities…
NGOs Call on EU To Strengthen Clean Maritime Policy
The SASHA Coalition, together with six other NGOs and industry alliances, together representing 82 clean maritime and green hydrogen industry stakeholders, has written a letter to the European Commission and European Union Presidency urging it to strengthen clean shipping policy in the wake of what they say are disappointing regulations agreed last month at MEPC 83.It says the IMO agreement fails to…
CTV Converted to Biomethanol Power
Northern Offshore Services (N-O-S), a subsidiary of Northern Offshore Group (NOG), an NYK Group company that operates crew transfer vessels in the global offshore wind industry, has upgraded a crew transfer vessel (CTV) to run on biomethanol.Designed and developed by N-O-S, the vessel has been named Transporter. It is a conversion of a smaller A-class CTV to install a methanol engine.N-O-S plans to use only biomethanol as fuel…
Maersk Reports First Quarter Drop in Revenue Growth
For the first quarter of 2025 A.P. Moller - Maersk A/S (Maersk) reports revenue growth of 7.8% to $13.3 billion with EBIT increasing to $1.3 billion from $177 million a year ago.The company states that these results, while sequentially down as expected, represent a good start to the year and were driven by solid profitability in Ocean, operational improvements in Logistics & Services and higher volumes in Terminals.For the full year 2025…
Container Shipping Companies Cut Asia-US Services
Major container shipping companies are suspending at least six scheduled weekly routes between China and the United States as President Donald Trump's punishing tariffs on the world's top exporting country collapse trade, maritime consultants said.The ships on those routes have the combined capacity to deliver 25,682 40-foot containers stuffed with toys, tennis shoes, car parts and things U.S. manufacturers use to produce goods each week - or more than 1.3 million 40-foot containers a year…
Diver Killed During Salvage of Bayesian
Work to recover the late British tech tycoon Mike Lynch's sunken superyacht off the coast of northern Sicily has been paused following the death of a diver involved in the operations, the company leading the effort said on Saturday.The 56-metre-long (184-foot) Bayesian was moored off the small port of Porticello, near Palermo, in August last year when it was likely hit by a downburst, a very strong downward wind…
Israel Attacks Yemen’s Hodeidah Port
Israel attacked Hodeidah in Yemen after the Israeli army said it had warned residents of three ports under Houthi control to evacuate, the Houthi interior ministry said on Sunday.The strikes came shortly after Israel warned residents of Ras Isa, Hodeidah and Salif to leave, saying the ports were being used by the Iranian-backed Houthis.But the head of the Houthi-run state news agency Saba, Nasruddin Amer…
Silverback Marine Contracted to Build First PETESTEP Law Enforcement Vessel
Silverback Marine has announced its partnership with Sweden-based company PETESTEP to develop a high-performance law enforcement boat for the New Mexico State Parks Rangers.The patented PETESTEP technology differs from the SPRAYWATER shape and traditional stepped hulls. The technology utilizes angled deflectors as opposed to steps, which take advantage of the spray energy generated by the hull when underway.
Panama Canal Administrator Outlines the Waterway’s Evolving Role in Global Trade
The Panama Canal Administrator, Dr. Ricaurte Vásquez Morales, delivered the 43rd Annual William A. Patterson Distinguished Transportation Lecture at Northwestern University this week, in which he laid out the crucial role the Panama Canal has played in the development of global trade and the impact it has had on the greater evolution of humanity in Panama, and throughout the world.The Northwestern…
