Damen Shipyards Group Reports Profit, Order Book in 2024 Report
Financially, 2024 was a positive year for Damen Shipyards Group. Revenue remained just above USD$3.47 billion (3 billion euros). Net profit rose from USD$49.8 million (43 million euros) to USD$67.1 million (58 million euros). The order book was filled with a record USD$6.83 billion (5.9 billion euros) in new orders, rising to USD$12 billion (10.4 billion euros). In 2024, Damen delivered no fewer than 146 new vessels to clients. This included the Volta 1 and the Bu Tinah.
HII Reports Q3 2025 Results
HII reported results for the third quarter of fiscal 2025.Highlights:Third quarter revenues were a record $3.2 billionThird quarter net earnings were $145 million or $3.68 diluted earnings per shareCompleted builder’s sea trials for guided missile destroyer Ted Stevens (DDG 128)Completed initial sea trials of Virginia-Class Submarine Massachusetts (SSN 798) in early OctoberThird quarter 2025 revenues of $3.2 billion were up 16.1% from the third quarter of 2024…
Southampton Marine Services Secures $3.94m German Cruise Contract
Southampton Marine Services Ltd (SMS Group), the UK's largest independent ship repairer, has secured a major USD$3.94 million (£3 million) contract with German cruise company AIDA to refit the first of three ships in Marseilles, thanks in part to a trade loan backed under the Export Working Capital Scheme (EWCS) by UK Export Finance (UKEF) – the government’s export credit agency.The government-backed financing…
Witherbys to Introduce New Oceanographic Research Vessel from 2026
Maritime publishing and digital training group Witherbys has unveiled plans to introduce a new oceanographic research vessel, the MV Sea Ranger, from 2026 to support its technical development, real-world navigational studies and maritime training programs.The MV Sea Ranger will support Witherbys’ mission to enhance maritime knowledge and safety through research directly linked to shipboard operations.It will strengthen the delivery of computer-based training programs…
Maritime Firms Launch PntGuard to Counter GPS Spoofing Surge
Tschudi Shipping Company, NAL Research and Norway-based SGM Technology have launched PntGuard, a maritime navigation system designed to detect and counter increasing cases of GNSS and GPS signal spoofing at sea.The standalone bridge system alerts crews the moment a vessel’s official position is falsified and provides authenticated location data when satellite navigation inputs are compromised.Developers…
Dry Bulk Vessel Market Softens as Coal Shipments Decline
"We estimate that the dry bulk supply/demand balance will strengthen slightly in 2025 and gradually weaken in 2026 and 2027. Cargo demand growth is slowing, as coal shipments decline and iron ore shipments stagnate,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Coal shipments are forecast to decline 4.9% between 2025 and 2027. Demand is falling as electricity generation from renewable sources continues to expand, particularly in China, Europe and India.
Kongsberg to Spin Off Maritime Unit, Combine Defense Businesses in Strategic Split
Kongsberg Gruppen has proposed spinning off its Kongsberg Maritime business in a separate stock market listing and consolidating its Kongsberg Defence & Aerospace and Kongsberg Discovery units into a single technology and defense company.The group said sustainability and security trends have driven strong growth over the past decade and are expected to continue shaping demand, making focused specialist businesses better positioned for global opportunities.The Norwegian state…
Sanctioned Russian LNG Tanker Makes STS Transfer Off Malaysia
A sanctioned liquefied natural gas (LNG) tanker made a ship-to-ship (STS) transfer off the coast of Malaysia after picking up a cargo from a Russian export terminal also under Western restrictions, according to two analytics firms.The operation appears to be the first known STS transfer of sanctioned Russian LNG, despite Western efforts to curb Moscow's energy revenues over its war in Ukraine.The LNG tanker Perle…
NYK and Port of Duqm Collaborate on Development
Nippon Yusen Kabushiki Kaisha (NYK Line) and the Port of Duqm Company, which oversees port management and terminal operations in Oman, signed a memorandum of understanding at Duqm Economic Forum 2025 to collaborate in the development and connectivity of the port of Duqm.NYK has positioned the Middle East as one of its key strategic regions. On April 1, 2022, NYK established its Middle East region head…
Texas Allision Leads to Oil Spill
The Coast Guard along with the Texas General Land Office is responding to an oil discharge which occurred near Galveston, Texas, Tuesday.Coast Guard Sector Houston-Galveston watchstanders received a call at approximately 9:50 p.m. reporting a discharge of fuel oil spilled by a vessel near Pier 32 at the Port of Galveston following an allision with the pier. The source of the spill is secured.The spill amount is currently under investigation.The Coast Guard…
How Hot Is Your Cable? Understanding Subsea Cable Thermal Performance
Sponsored WebinarHow Hot Is Your Cable? Seequent Unlocks Subsea IntelligenceCable temperature drives ampacity, reliability, and lifecycle costs. See how subsurface models and field data help predict, monitor, and manage thermal performance to keep offshore power flowing.Date: Thu, Nov 13, 2025Time: 12:00 GMT / 7:00 AM ETFormat: Live online • 45–60 minutes + Q&AWhy Attend?Subsea cable heating is more than a technical challenge — it’s a strategic opportunity.
ClassNK Releases Guidelines for Onboard CO2 Capture and Storage Using Membrane Separation
ClassNK has released "Guidelines for Onboard CO2 Capture and Storage Systems (Edition 2.0)", which assesses onboard CO2 capture systems (OCCS) using membrane separation. The guidelines can be used to support the safe development, manufacturing, and installation of a relevant system.CO2 capture from ship exhaust gas is growing in popularity as a way to reduce GHG emissions, and the development of onboard systems for capturing and storing CO2 is being undertaken.
Allengra Introduces Fuel Flow Meter for Consumption Measurement
Sustainability has become a central topic in the maritime industry—not only for environmental reasons, but also to increase efficiency and cost-effectiveness. The basis of any optimization is accurate measurement of actual fuel consumption—even under conditions that push many metering technologies to their limits.With the Allengra Fuel Flow Meter, operators of inland and seagoing vessels have a measurement system designed specifically for the challenges of maritime environments.
Russia Tests Poseidon Nucelar-Powered Super Torpedo
President Vladimir Putin said on Wednesday that Russia had successfully tested a Poseidon nuclear-powered super torpedo that military analysts say is capable of devastating coastal regions by triggering vast radioactive ocean swells.As U.S. President Donald Trump has toughened both his rhetoric and his stance on Russia, Putin has publicly flexed his nuclear muscles with the test of a new Burevestnik cruise missile…
Master Boat Builders Unveils State‑of‑the‑Art Floating Dry Dock to Boost Throughput
Master Boat Builders, Inc. announced it has taken delivery of a new floating dry dock, giving the company direct control over launch schedules and accelerating vessel deliveries.Designed and built by Conrad Shipyard, the dry dock measures 155’ long x 66’ wide with 41’ tall wing walls, features a 2,000‑ton lifting capacity, and incorporates a barge bow to enable efficient towing. Master Boat will use the dock to launch recently constructed vessels.
US Senate Democrats Request Justification of Alleged Drug Vessel Strikes
U.S. Senate Judiciary Committee Democrats on Wednesday asked the Justice Department to hand over all legal opinions its attorneys have produced to assess the legality of the military's 13 deadly strikes against suspected drug vessels that have killed about 57 people."Summarily killing criminal suspects is prohibited under domestic and international law in both peacetime and wartime," they wrote in…
Drydocks World, Cochin Shipyard Limited Enter Agreement to Develop Ship Repair Cluster in Kerala
Drydocks World, a DP World company, and Cochin Shipyard Limited (CSL) have signed an Agreement of Heads of Terms to evaluate and develop India’s first ship repair cluster at the International Ship Repair Facility (ISRF) in Cochin, Kerala.The MoU was exchanged in the august presence of the Union Minister of Ports, Shipping and Waterways (MoPSW), Shri Sarbananda Sonowal and H.E. Sultan Ahmed bin Sulayem…
Lockheed Martin Invests $50M in Saildrone to Advance USV Capabilities for US Navy
Saildrone Founder and CEO Richard Jenkins shares news on Lockheed Martin's recent investment in Saildrone:Today, I am delighted to announce a $50 million investment from Lockheed Martin in Saildrone, Inc. This commercial relationship marries the world’s most sophisticated and trusted defense technology with the world’s most capable and operationally proven USV technology. Together, we will rapidly equip Saildrone USVs with all-domain defense technology for lethal military applications.
OCIMF Launches Focused Inspection Campaign to Strengthen Onboard Security Defenses
Oil Companies International Marine Forum (OCIMF) has launched a Focused Inspection Campaign (FIC) under its SIRE 2.0 tanker inspection program aimed at reinforcing maritime security readiness across the global tanker fleet.The initiative comes in response to increasing geopolitical tensions, regional conflicts, and evolving security regulations that directly impact crew welfare, safety, and operational continuity.
Iridium Unveils Global GPS Device Protection on a Chip
Iridium Communications Inc., a provider of global voice, data, and PNT satellite communications, unveiled a miniature application-specific integrated circuit (ASIC), the Iridium PNT ASIC. Engineered for integration into a wide range of electronic devices, the Iridium PNT ASIC will deliver authenticated, pole-to-pole positioning, navigation, and timing (PNT) data. It will provide a resilient alternative to traditional GNSS…
