AI Agents: Like Owning a Pet Tiger
Geoffrey Hinton, the godfather of AI, has compared developing AI agents to owning a pet tiger.Speaking this week at the World AI Conference (WAIC 2025) in Shanghai, Yicai Global reported him saying: "Our current situation is like someone keeping a tiger as a pet. A tiger cub can indeed be a cute pet, but if you continue to keep it, you must ensure that it does not kill you when it grows up.”He says there are two choices: either train it so that it doesn't attack you or eliminate it.“For AI…
Panama Communities Challenge Canal Expansion Project in Supreme Court
Communities in Panama that would have to relocate under the Panama Canal's plan to build a $1.6 billion reservoir filed a Supreme Court challenge on Thursday, saying the project intended to enable more vessel transits is unconstitutional.Some 2,500 people would be affected by construction of the Rio Indio reservoir, according to figures from the canal's authority, which has said it needs to secure…
Surface Navy Association Names New President
The Surface Navy Association (SNA) announced the appointment of retired Vice Admiral Ron Boxall as its new President, succeeding retired Vice Admiral Rick Hunt, who has served in the role since 2019. Admiral Boxall will make his first official appearance as SNA President at the upcoming Waterfront West Symposium, taking place September 10–11, 2025, in San Diego.Admiral Boxall’s career highlights include three tours with the Joint Chiefs of Staff…
SAAM Towage Strengthens Fleet With New Tugs for Chile and Peru
SAAM Towage, the largest towage operator in the Americas, has added two new units to its fleet: the SAAM Petrel and the SAAM Charrán. These modern ships, designed by the firm Robert Allan and built at the Sanmar shipyard in Turkey.Their names—SAAM Petrel and SAAM Charrán—pay homage to seabirds native to the coasts of Chile and Peru, following a SAAM Towage tradition dating back 60 years to the company's founding.SAAM Petrel.
Chinese Naval Vessels Arrive in Vladivostok Port For Joint Drills With Russia
Chinese naval vessels steamed into Russia's far eastern port of Vladivostok on Thursday ahead of joint drills scheduled from August 1 to August 5.Video footage from Russia's Defence Ministry showed the vessels, including a submarine, entering the harbour under grey skies.Chinese seamen were greeted by cheering residents waving the national flags of both countries and women in traditional costume offered an officer a traditional bread and salt welcome.Russian news agencies quoted a statement from
U.S. Shipbuilding Plots the Path Ahead
The military and Coast Guard budgets are established that will benefit the U.S. ship building and repair sector, but what will stimulate the commercial yards?This author has been scratching his head of late, after a thrilling dive into July’s U.S. Big Beautiful Bill Act, and has asked several colleagues where the funding for support commercial shipbuilding can be found? To answer that, we need to look…
Two CK Hutchison-Operated Ports Near Panama Could See State Partnerships Take Over
Public-private partnerships could take over two key ports near the Panama Canal if courts invalidate a contract with Hong Kong-based CK Hutchison's to operate them, Panama's President Jose Raul Mulino said on Thursday.CK Hutchison holds a 90% stake in the local Panama Ports Company, which had a 25-year concession to operate the Balboa and Cristobal ports, located at both ends of the canal, renewed in 2021.The contract has been at the center of a dispute since U.S.
Norwegian Cruise Maintains Profit Forecast, Bookings Rebound
Norwegian Cruise Line Holdings signaled a demand rebound for its cruise vacations and maintained its annual profit target, sending its shares up 12% on Thursday.The company had earlier warned that geopolitical tensions and economic uncertainty around tariffs had weakened consumer spending on its premium vacations, particularly for its longer itineraries in Europe.The 12-month forward booked position was ahead of historical levels in recent months after having softened in early April, while on-bo
Fincantieri Launches “Viking Mira” Cruise Ship
The “Viking Mira," a new cruise ship under construction for Viking, was launched at the Ancona shipyard. The ship is scheduled to debut in spring 2026, offering itineraries in the Mediterranean and Northern Europe.The ceremony, which marks the ship’s transition to the final outfitting phase, was attended by Gilberto Tobaldi, Director of the Ancona Shipyard, and Gastone Lazzari, New Building Site Team Manager for Viking.With a gross tonnage of approximately 54…
Shipbuilding Played An Important Role in 15% Tariff onSouth Korea
South Korea's shipbuilding industry played "the most important role" in securing an agreement with the U.S. on tariffs, an analyst said on Thursday (July 31).President Donald Trump said on Wednesday (July 30) the U.S. will charge a 15% tariff on imports from South Korea, down from a threatened 25%, as part of a deal that eases tensions with a top-10 trading partner and key Asian ally.“The shipbuilding sector is exactly the area where South Korea and the U.S.
HII Reports Q2 2025 Results
Huntington Ingalls Industries, America’s largest military shipbuilder and a global defense technology provider, announced its second-quarter 2025 financial results, highlighting robust cash generation, strategic progress in AI-driven shipbuilding, and a record backlog of $56.9 billion.Q2 2025 Highlights:Revenue: $3.1 billion, up 3.5% YoYNet Earnings: $152 million, or $3.86 diluted EPSFree Cash Flow: $730 million, vs.
d’Amico International Shipping Shares 1H, 2Q Results
d’Amico International Shipping S.A., an international operator in the product tanker sector, announced its financial results for Q2 and H1 2025. Despite market normalization following last year’s record highs, DIS achieved solid profitability and maintained its strong financial position.Financial Highlights (H1 2025 vs H1 2024):Net Profit: US$ 38.5 million (vs USD$122.9 million)Time Charter Equivalent…
Nexans, Crowley Wind Services to Build Cable Lay Barge for US Ops
French subsea power cable maker and services provider Nexans has formed partnership with Crowley Wind Services to develop and operate a Jones Act compliant cable lay barge. The cable lay barge will be dedicated to supporting the installation of subsea transmission lines necessary for offshore wind energy, telecommunications and other major industrial applications.The 300-foot, U.S.-flagged vessel, built in Louisiana and tested in the U.S.
As China's Economy Slows, So Too Does Dry Bulk Shipping
“We estimate the dry bulk supply/demand balance to weaken in both 2025 and 2026, compared to 2024. Demand growth is expected to slow, impacted by a weaker economic outlook for China and the world and a shift in US trade policy,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.The rise in tariffs and the start of trade negotiations by the US have introduced additional uncertainty and are directly impacting 4% of global dry bulk tonne mile demand.
BSM Launches Methanol Bunkering Simulator
As the global shipping industry accelerates toward decarbonization, Bernhard Schulte Shipmanagement (BSM) has unveiled its first methanol bunkering simulator at its Maritime Training Center in Kochi, India. Developed in partnership with Wärtsilä, the new platform is designed to give seafarers hands-on training for safely handling methanol, one of the leading alternative fuels driving maritime’s low…
Fincantieri Delivers Multi-Purpose Frigate to Italian Navy
Fincanteri has delivered the multi-purpose frigate Emilio Bianchi to the Italian Navy, the tenth FREMM-class vessel to be completed under the European Multi-Mission Frigate program.The frigate was commissioned from Orizzonte Sistemi Navali under the Italian-French international cooperation agreement, the contract for which was stipulated with OCCAR (Organisation Conjointe de Coopération en matière…
DHT Secures Post-Delivery Finance for VLCCs
Tanker company DHT Holdings, Inc. has entered into a $308.4 million senior secured credit facility for the post-delivery financing of the company’s four newbuildings.The vessels are currently under construction at Hyundai Samho Heavy Industries and Hanwha Ocean, in South Korea and are scheduled for delivery during the first half of 2026.The facility is co-arranged by ING Bank and Nordea Bank Abp, with ING Bank as Coordinator, Facility Agent, Security Agent and ECA Agent.
Hydrofoiling Ferry Could Prevent Seasonal Travel Disruption at Isles of Scilly
Artemis Technologies is leading a feasibility study on the establishment of a new ferry service between Newlyn in Cornwall and St Mary’s in the Isles of Scilly, around 30 miles off the southwestern tip of Cornwall, England, in the Atlantic Ocean.The study will assess the technical and commercial viability of deploying the Artemis EF-24 Passenger, a 100% electric, high-speed hydrofoil ferry, to provide a reliable…
US Cancels Designated Wind Energy Areas
The US Bureau of Ocean Energy Management (BOEM) has rescinded all designated Wind Energy Areas (WEAs) on the U.S. Outer Continental Shelf (OCS).BOEM says the action is being taken in accordance with Secretary’s Order 3437 - Ending Preferential Treatment for Unreliable, Foreign Controlled Energy Sources in Department Decision-Making – and the Presidential Memorandum of January 20, 2025 – Temporary Withdrawal…
US Hits Iranian Shipping Network with New Sanctions
The U.S. Treasury Department announced fresh sanctions on Wednesday on over 115 Iran-linked individuals, entities and vessels, in a sign the Trump administration is doubling down on its "maximum pressure" campaign after bombing Tehran's key nuclear sites in June.The sanctions broadly target the shipping interests of Mohammad Hossein Shamkhani, the son of Ali Shamkhani, who is himself an adviser to Supreme Leader Ayatollah Ali Khamenei. The U.S.
