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The US Bureau of Ocean Energy Management (BOEM) has rescinded all designated Wind Energy Areas (WEAs) on the U.S. Outer Continental Shelf (OCS).BOEM says the action is being taken in accordance with Secretary’s Order 3437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.
Panama Auditor Files Suit to Scrap CK Hutchison-Controlled Port Contract
Panama's comptroller general, Anel Flores, said on Wednesday he had filed suit to the nation's Supreme Court against a contract to operate ports near the Panama Canal, held by a local firm controlled by Hong Kong-based CK Hutchison.Flores said the two suits were to declare the unconstitutionality and to nullify the contract to operate the Balboa and Cristobal ports. The Supreme Court would still need…
KIMM, Natural Resources Canada Sign MoU on Clean Technology Cooperation
The Korea Institute of Machinery and Materials (KIMM), under the National Research Council of Science & Technology (NST), signed a Memorandum of Understanding (MoU) with Natural Resources Canada (NRC) to establish a new platform for international collaboration in sustainable resource technologies and support the strategic expansion of KIMM’s global R&D network.The MoU outlines collaboration in the following areas:Joint research on ammonia recovery and removal technologies…
St. Johns Ship Building Delivers Second Crew Transfer Vessel For Offshore Wind Projects
St. Johns Ship Building, a Florida-based Jones Act facility owned by Americraft Marine, has announced the successful delivery of the Atlantic Endurance, the second of two Chartwell Ambitious-Class Crew Transfer Vessels (CTVs) ordered by Atlantic Wind Transfers. The delivery follows the recent handover of the Atlantic Resolute and brings the total number of CTVs delivered by St. Johns Ship Building within an eighteen-month period to five.
London P&I Club Warns of Incorrect Loading of Flexible Intermediate Bulk Containers
The London P&I Club has renewed calls on ship owners, operators and charterers to address potential risks when loading Flexible Intermediate Bulk Containers (FIBCs) containing dry chemicals. The warning follows a number of incidents reported across the industry including hold fires and cargo damage in bulk carriers and general cargo ships. The issue is particularly common with vessels loading in Chinese ports.Claims resulting from the incorrect storage and handling of FIBCs…
Fincantieri Reports Record €57.7B Shipbuilding Backlog
Fincantieri reported a sharp rise in first-half 2025 results, with growth across all segments and a record order backlog that solidifies its position as one of the world’s leading shipbuilders.Revenues reached €4.58 billion, up 24% from the same period in 2024, while EBITDA surged 45% to €311 million, lifting the margin to 6.8%. The company swung to a net profit of €35 million, compared to a loss of €27 million in the first half of 2024.New orders totaled €14.7 billion…
Oceaneering Upgrades Survey Vessel for Simultaneous Autonomous Missions
U.S.-based subsea services and technology firm Oceaneering has completed a major upgrade of its Ocean Intervention II oceanographic research vessel, equipping it to perform simultaneous autonomous offshore survey missions.The retrofit, carried out in early 2025 on the 25-year-old vessel, has made it capable of launching and recovering both uncrewed surface vehicles (USVs) and autonomous underwater vehicles (AUVs).The vessel…
MOL Names Dual-fuel VLCC Newbuilding Chartered by Equinor
Mitsui O.S.K. Lines (MOL) has held a naming ceremony for the newbuilding very large crude carrier (VLCC) Energia Viking for Equinor, at the Dalian COSCO KHI Ship Engineering shipyard in China.The Energia Viking is the first LNG dual-fuel VLCC delivered by the MOL Group and sailing under a charter contract with Equinor.The vessel is equipped with an LNG fuel tank with a capacity exceeding 10,000m3, enabling long-distance transportation and allowing for flexible transport plans.In addition…
South Korea's Political, Business Leaders Push for U.S. Tariff Deal
Three cabinet-level South Korean officials met U.S. Commerce Secretary Howard Lutnick in Washington for trade talks, Seoul said on Wednesday, as top business leaders were also reported to be flying in to help lobby for a deal on U.S. tariffs.South Korean Finance Minister Koo Yun-cheol joined Industry Minister Kim Jung-kwan and Minister for Trade Yeo Han-koo, who have been in Washington since last week…
Mitsui, MOL Buy Port of Nigg and Energy Firms from Global Energy Group
Global Energy Group (GEG) has reached an agreement on the sale of three of its group companies, including The Port of Nigg, to long term investor, Mitsui & Co. Europe (Mitsui) a subsidiary of Mitsui & Co, together with Mitsui O.S.K. Lines (MOL).The acquisition includes The Port of Nigg, a multi-sector energy port and green freeport, Global Energy (Fabrication), a multi-site fabrication and manufacturing business…
Tsunami Waves Reach Hawaii Following Major Earthquake in Russia’s Far East
A powerful magnitude 8.8 earthquake off Russia's Far Eastern Kamchatka Peninsula triggered tsunami waves of up to 5 metres (16 feet) and sparked evacuation orders in Hawaii and across the Pacific on Wednesday.The shallow earthquake damaged buildings and injured several people in the remote Russian region, while much of Japan's eastern seaboard - devastated by a 9.0 magnitude earthquake and tsunami in 2011 - was ordered to evacuate.In Hawaii…
