Us News

The South Korean-owned Philly Shipyard in the United States does not currently have the capability to build a nuclear-powered submarine, Prime Minister Kim Min-seok said on Thursday during a parliamentary hearing.His remarks come after U.S. President Donald Trump wrote on social media last week that he had given approval for South Korea to build a nuclear-powered submarine and that it would be built in the Philadelphia shipyard.Trump posted the comment on his Truth Social platform after South Korea's President Lee Jae Myung asked him during a summit to let his country…

Seadrill Limited announced its third quarter 2025 results.Quarterly Highlights:Secured contract awards across five rigs, adding over $300 million to Order Backlog.West Gemini, Sonangol Libongos and Sonangol Quenguela secured an estimated 1,000 days of incremental work in Angola, extending the longevity of the Sonadrill joint venture.West Vela was awarded two contracts in the U.S. Gulf, adding over four months in firm term, securing the rig into the second half of 2026.Sevan Louisiana received an award in the U.S.

“Following US-China trade negotiations, China has committed to resume imports of US soya beans. The country has agreed to purchase 12m tonnes during the rest of 2025 and 25m tonnes per year during the next three years, similar to 2024 volumes. If these commitments are met, US soya bean shipments are expected to surge in the short term before stabilizing in the medium term,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.The agreement is expected to be positive for the dry bulk market and the US and Chinese economies.

Poland is working on a deal to import liquefied natural gas (LNG) from the U.S. to supply Ukraine and Slovakia, an agreement that would further tighten the European Union’s ties to American energy, according to two sources familiar with the negotiations.Officials expect to announce a joint declaration to boost imports after a meeting of the parties at a transatlantic energy conference in Athens later this week, one of the sources said."After that, discussions would follow on terms for supplies to Slovakia," one of the sources told Reuters.

Denmark's Orsted and Vestas, two of the world's top offshore wind power groups, urged European nations on Wednesday to speed up permitting, improve auction terms and invest in power grids to deliver their potential for strong growth in the sector.The offshore wind industry, facing a near-frozen U.S. market amid President Donald Trump's opposition to renewables, is increasingly looking to Europe for opportunities.Vestas, the largest wind turbine maker outside China, said it expects global offshore wind capacity to grow 20-25% per year until 2030…

Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD), the largest U.S. dredging contractor, reported third-quarter 2025 earnings that topped profit estimates but came in just shy of revenue expectations, reflecting steady operations amid a cooling federal project environment and a shrinking backlog.The company reported revenue of $195.2 million, a modest 2% increase from last year’s $191.2 million but below analyst estimates of around $200 million. Net income rose to $17.7 million…

St. Catharines, Ontario–based Algoma Central Corporation (TSX: ALC) reported a solid third quarter for 2025, marked by fleet milestones, steady revenue growth across segments, and ongoing investment in next-generation vessels.For the quarter ended September 30, Algoma posted revenue of C$228 million, up from C$205 million a year earlier, and EBITDA of C$89.7 million, a 19% increase year-over-year. Net earnings came in at C$39.4 million or C$0.97 per share, essentially flat compared to Q3 2024.“This quarter marked a milestone for Algoma with the delivery of the Algoma Legacy…

U.S. ocean shipping company Matson MATX.N has paid $6.4 million in port fees to China since they were implemented on October 14, CEO Matt Cox said on Tuesday.President Donald Trump and President Xi Jinping last week agreed to put those tit-for-tat levies on pause for 12 months, starting on November 10. Media outlets in China had reported that Hawaii-based Matson, one of a handful of global shipping firms with U.S.-built and -flagged vessels, was the first to pay the fees in China.Matson expects the U.S.

The Great Lakes Towing Company and Great Lakes Shipyard have promoted Gregg Thauvette and Thomas Rigolo, two long-time leaders whose commitment and expertise have been key to the companies’ continued success.Gregg Thauvette has been promoted to Executive Vice President to President of The Great Lakes Towing Company, where he will continue to oversee all harbor towing and fleet operations across more than 40 U.S. ports throughout the Great Lakes.With decades of maritime experience, Thauvette has been a driving force behind the Towing Company’s continued success and growth.

Norwegian Cruise Line Holdings NCLH.N forecast fourth-quarter profit below expectations on cost pressures and subdued appetite for sea-based vacations as travelers curb spending, sending its shares down about 15% on Tuesday.Persistent inflation, tariff-driven uncertainty, and the fallout of the prolonged U.S. government shutdown on port activity have clouded demand heading into the crucial holiday season.Volatile fuel prices due to geopolitical tensions, and expenses related to drydocks…

Russian oil major Lukoil is struggling to keep operations running at its sprawling foreign businesses as Western sanctions disrupt oil loadings in Iraq, pump stations in Finland and trading in Switzerland, sources said.The United States and the United Kingdom last month imposed sanctions on Russia's second-largest oil company, complicating how it carries out its normal operations.The U.S. Treasury Department issued a licence giving companies until November 21. to wind down any…

At the Indo Pacific International Maritime Exposition in Sydney, HII announced the addition of Westley Group, a leading United Kingdom-based manufacturer of high-integrity metal castings, as a strategic supplier supporting the U.S. Navy’s submarine industrial base.This milestone marks another step forward in advancing allied defense collaboration under the AUKUS trilateral partnership between Australia, the United Kingdom, and the United States.Westley Group is now approved by HII’s Newport News Shipbuilding division, builder of nuclear-powered submarines and aircraft carriers for the U.S.

CMA CGM will register 10 container vessels to be delivered in the next three years under the French flag, adding more seafarers from its home country after facing calls to contribute more to France's debt-stricken economy.CMA CGM, the world's third-largest container shipping line, will recruit 135 French seafarers at an additional cost of 15 million to 17 million euros ($17.49 million-$19.83 million) per year compared with foreign flag registrations, it said on Tuesday.While a small investment compared with the $2 billion construction cost of the ships…

Expansion into Harbor Tug sector helps Master Boat Builders nearly double in size, from 200 to 400 employees building eight to nine vessels per year, and the prospect of a new drydock plus additional partnerships and government construction contracts promises to power the company forward further, faster. Garrett Rice, President, Master Boat Builders, discussed the impetus for the company’s growth, and the growth in U.S. shipbuilding overall since the start of 2025 when President…

HII appointed Tim Taylor as vice president of engineering, technology and design at its Newport News Shipbuilding division.Taylor, a U.S. Navy veteran, has served NNS for 29 years in positions of increasing responsibility, including work control, submarine ship’s safety and sea trial coordination. He currently serves as director of nuclear test engineering. Taylor holds a bachelor’s degree in nuclear engineering from Excelsior College and an MBA from Strayer University.“Tim’s extensive experience in waterfront operations will serve our team well…

The work of Australia's defence force to protect its sea trade routes, including through the South China Sea, is becoming more risky as Beijing undertakes the "biggest military build-up in the world today", Australia's defence minister said on Tuesday.Open sea lanes, including trade routes that go through the South China Sea and East China Sea, were at the core of Australia's national interest, Richard Marles said in an opening speech at a navy conference in Sydney."That work is challenging and in truth it is becoming increasingly risky.

The Panama Canal expects an increase in transits of liquefied petroleum gas (LPG) vessels and carriers of some agricultural commodities to help it compensate for a reduction in world trade next year, the waterway's chief told Reuters on Monday.The world's second-busiest interoceanic waterway registered a 14% revenue increase to $5.7 billion in the fiscal year ended in September and saw 19% more transits, with LPG vessels and container ships moving more cargoes through the canal that connects the Pacific and Atlantic oceans."LPG is a product that will be even more valuable in the next 20…

Matson has entered a product agreement with WhaleSpotter to purchase and deploy a whale detection system developed by the Woods Hole Oceanographic Institution (WHOI), making Matson the first container shipping company to deploy this advanced marine protection technology.The WhaleSpotter system combines thermal and AI-driven detection and 24/7 real-time verified monitoring to reliably detect whales up to three nautical miles away, day or night. The system's real-time alerts give vessel crews the opportunity to adjust course and reduce the risk of whale strikes.In 2023…

The International Union of Marine Insurance (IUMI) has released its 2025 analysis of the global marine insurance market – the IUMI “Stats Report”.Commenting on this year’s report, IUMI Secretary General, Lars Lange said: “Our data relating to 2024 shows that the ocean hull and cargo markets have been relatively stable with little positive development. The offshore energy sector continued to struggle as a result of a low oil price and a reduction in capex spend in some regions.“As…

The U.S. has become the first country to export 10 million metric tonnes (mmt) of liquefied natural gas in a single month, according to preliminary data from financial firm LSEG.The U.S. exported a record 10.1 mmt of the liquid fuel in October, up from a revised figure of 9.1 mmt in September, LSEG data showed.Already the world's largest LNG exporter, the U.S. has been ramping up sales with four record-setting months in 2025. The surge was led by the start-up of Venture Global's Plaquemines export plant and the ramp-up of Cheniere's Corpus Christi Stage 3 project…

The United States will in the coming days ask a U.N. Security Council committee to impose sanctions on seven ships suspected of violating U.N. sanctions on North Korea, a State Department official said on Monday.The seven vessels have illegally exported North Korean coal and iron ore to China, which traditionally earns Pyongyang between $200 million and $400 million a year, said the U.S. official, speaking on condition of anonymity."These nominations are not just bureaucratic exercises. They're about ensuring accountability for U.N.

There hasn’t been an invasives species introduced to the Great Lakes from ballast water since 2006. So, what’s the problem now?As far as Transport Canada is concerned: “Scientific sampling to date consistently shows that ballast water management systems (BWMS) used in the Great Lakes reduce organism densities in ballast water discharges by over 99%, consistent with global evidence. As crews gain experience in operating these systems, performance continues to improve, contributing to the ongoing protection of Canada’s waters from invasive species.”  However…

We are well into the discussions advising shipbuilders and operators how the U.S. will create a renaissance of the maritime industry. Federal Legislation, Executive Orders, and new foreign partnerships driving the promise of commercial competitiveness with the leading global shipbuilders. Most of the shipbuilding rhetoric indicates the domestic markets will be left to survive on their own. This despite the fact the domestic operators and builders have proven to be the strongest…