GDMS inks $800m Deal for US Navy Torpedoes
General Dynamics Mission Systems was awarded a fixed-price-incentive, firm-fixed-price, cost-plus-fixed-fee, and cost-only contract from the U.S. Navy in December…
ABS grants AiP for HD KSOE's Hydrogen Vacuum Insulation System
HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has received ABS approval in principle (AIP) for a tank design that enables large-scale hydrogen transport and storage.The vacuum insulation system from HD KSOE is designed to reduce the time required to create a vacuum in large tanks, essential for transportation. The new technology allows maintaining a vacuum state at –253℃, which KSOE says enables…
European firms exposed as Trump targets US offshore wind
U.S. President Donald Trump in his first day of office on Monday suspended new federal offshore wind leasing pending an environmental and economic review, saying wind mills are ugly, expensive and harm wildlife.Former President Joe Biden supported the offshore wind industry, setting a target for 30 gigawatts (GW) of projects by 2030, up from 42 megawatts at the end of 2023, prompting many European…
ESAB Reminder for AWS Scholarship Application Deadline
For all welding students who want to focus on education and training rather than the burden of paying for school, ESAB reminds students that the deadline to apply for AWS 2025 Foundation national, district, and section scholarships is March 1.The American Welding Society (AWS) awards more than $2.5 million in scholarships each year, including 12 scholarships in the amount of $5,000 each made possible…
Baltic Index Declines to 1-year Low
The Baltic Exchange's dry bulk sea freight index .BADI, which tracks rates for ships carrying dry bulk commodities, fell for a sixth straight session on Tuesday to an over one-year low as rates weakened across all vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 29 points, or 3.03%, to 928 points - its lowest since June 2023.The Baltic index is expected to decrease in the lead up to the Chinese new year…
US NatGas Demand Could Hit Record High
U.S. spot natural gas and power prices soared to multi-year highs in several parts of the country with extreme cold expected to boost gas demand to a daily record high on Tuesday.Extreme weather has created havoc for power and gas markets in recent years as demand has come close to outpacing supply.In February 2021, a freeze in Texas killed more than 200 people and left millions without power, water…
OMSA's Aaron Smith Reflects on Offshore Wind Development Pause
The Offshore Marine Service Association (OMSA) views President Trump’s Presidential Memorandum to pause offshore wind development projects as a critical opportunity to reassess the industry’s direction.While offshore wind offers tremendous potential for economic growth and job creation in the U.S., OMSA agrees that over-reliance on foreign renewable energy companies, foreign vessels, and foreign mariners…
Hornblower Appoints Wolin as President of City Experiences
Hornblower Group is excited to announce the appointment of Len Wolin as President of City Experiences, effective January 20. In his new role, Wolin will lead the strategic direction of City Experiences, which encompasses Hornblower Group’s diverse portfolio of water- and land-based experience companies. Wolin will be responsible for driving the unified strategy across the City Cruises, Walks, and Devour Tours brands…
Box Sector bullish after stellar 2024, but risks abound in 2025
The time charter (TC) rates for Post Panamax container vessels rose by 111% year-on-year (y-o-y) in 2024, hitting 73,330 USD/Day, and has led to a huge uptick in newbuild orders and a slowdown in demolitions according to Veson Nautical’s ‘2024 End- Of-Year-Report’.The report states that the bullish market conditions for the container sector are reflected in the TC rates as well as the 76% y-o-y increase in new ship orders which witnessed 321 deals including options…
USCG Commandant Fagan Fired by Trump Administration
The Trump administration fired U.S. Coast Guard Commandant Admiral Linda Lee Fagan, the first female uniformed leader of an Armed Forces branch, for putting diversity issues over border security, Fox News Digital reported.See Related story on the US Coast GuardWhile the White House and Homeland Security Department did not immediately return a request for comment on the report, it appears valid from…
MOL Grows Dry Bulk Carrier Fleet with Gearbulk Acquisition
Mitsui O.S.K. Lines (MOL) has completed the acquisition of 72% shares in Gearbulk, growing its fleet of dry bulk carriers to 338 vessels.The completion of acquisition means Gearbulk is now MOL’s consolidated subsidiary.Gearbulk has a proven track record of growth through the transport of semi-finished products such as pulp. MOL has had a 34-year partnership with Gearbulk since its equity participation in 1991.With the consolidation…
Slime Time: Actively Monitoring a Vessel's Hull Slime
Slime build-up is a costly drag on fuel efficiency for ocean-going cargo ships, leading to more emissions and, eventually, higher consumer prices. A recent study, however, suggests a new approach to managing this common problem.Researchers at KTH Royal Institute of Technology developed a model for estimating the speed and extent of biofilm growth, which could enable ship operators to schedule hull cleaning at optimal intervals to save on fuel consumption.Cornelius Wittig…
Greece to House Europe’s First XR Ship’s Bridge Simulator for Maritime Training
Capital Ship Management Corp and FORCE Technology have partnered up to create Europe’s first Extended Reality (XR) Full Mission Bridge simulator, designed to support maritime training.The simulator will be housed at Capital Group’s state-of-the-art training facility at the port of Chios Island in Greece, which is slated to open in 2025.Designed to enhance seafarers' skills, this modern center of excellence reinforces Capital Group’s dedication to innovation…
DeepOcean Extends Charters for Three Subsea Construction Vessels
Ocean services provider DeepOcean has cemented its subsea offering with the extension of its charter agreements with Østensjø Rederi for three vessels.DeepOcean’s most advanced subsea vessel, Edda Freya, will remain part of the fleet through 2026, with additional options available.DeepOcean and Østensjø Rederi have agreed to extend the existing contracts for Edda Freya and Edda Flora through 2026, and Edda Fauna through 2027…
US LNG Export Permit Applications Back on Table under Trump’s Order
President Donald Trump issued an order on Monday for the U.S. to resume processing export permit applications for new liquefied natural gas (LNG) projects, part of an effort to raise U.S. energy output and dismantle his predecessor's climate policies.The Republican's executive order, which was expected, effectively reverses a pause on permits for new projects that former President Joe Biden put in place in early 2024. Biden, a Democrat, paused the approvals so U.S.
Trump: Second Term, Second Withdrawal from Paris Climate Agreement
President Donald Trump once again withdrew the United States from the Paris climate deal on Monday, removing the world's biggest historic emitter from global efforts to fight climate change for the second time in a decade.The move places the United States alongside Iran, Libya and Yemen as the only countries in the world outside the 2015 pact, in which governments agreed to limit global warming to…
ADNOC L&S Transfers Tankers to Navig8 After Acquisition
Abu Dhabi National Oil Company's logistics arm has transferred its tankers to Navig8 after it bought 80% of the firm for more than $1 billion and will cut part of its workforce, the state oil giant said in a statement.ADNOC Logistics & Services, which raised nearly $770 million in an initial public offering in 2023, said in June it was buying Singapore-headquartered Navig8 as part of its growth strategy.ADNOC has listed several of its units in recent years and pursued a string of deals to expand
SEFE and Höegh Evi to Develop Hydrogen Supply Chains
SEFE Securing Energy for Europe and marine infrastructure provider Höegh Evi have signed a Memorandum of Understanding (MoU) to jointly develop international supply chains for clean hydrogen to be delivered to Germany and other locations in Europe.The partners will analyze the technical and commercial feasibility of various corridors for the supply of clean hydrogen based on ammonia.The objective of the agreement is to implement international supply chains for clean hydrogen.
Indian Register of Shipping Strengthens Naval Sector Role
Indian Register of Shipping (IRS) is participating in major new construction projects for the Indian Navy and Indian Coast Guard.Recently, steel-cutting for vessels classified by the Indian Register of Shipping include the second ‘Fleet Support Ship’ at L&T Shipbuilding, the first ‘Next Generation Missile Vessel’ at Cochin Shipyard, the second ‘Next Generation Coast Guard Offshore Patrol Vessel’ and first Coast Guard ‘Fast Patrol Vessels’ at Mazagon Dock Shipbuilders…
Trump 2.0: "Gulf of America" & Taking Back the Canal
President Donald Trump vowed again that the United States would take back the Panama Canal as he delivered an inauguration speech in which he invoked the 19th century expansionist doctrine of "Manifest Destiny."Doubling down on his pre-inauguration threat to reimpose U.S. control over the canal, Trump again accused Panama of breaking the promises it made for the final transfer of the strategic waterway…
