UK Sanctions Maritime Mutual Insurer After Exposed by Reuters for Russian Oil Trade
Britain on Tuesday sanctioned Maritime Mutual, the New Zealand-based marine insurer that was the subject of a Reuters special report into how it had helped in the trade of tens of billions of dollars of Iranian and Russian oil."(Maritime Mutual) is or has been involved in obtaining a benefit from or supporting the Government of Russia by carrying on business in a sector of strategic significance to the Government of Russia…
Argentina Accedes Cape Town Agreement, Entry into Force February 2027
Argentina accedes to the Cape Town Agreement, triggering its entry into force in 12 months.The 2012 Cape Town Agreement has met the requirements for entry into force and will enter into force in February 2027, closing a longstanding gap in the global maritime safety framework. The Agreement sets out mandatory safety standards for more than 45,000 fishing vessels of 24 meters in length and over, according to FAO data…
Minke Marine Air Lubrication System Receives Second ClassNK AiP
US West Coast-based maritime company Minke Marine A.L. LLC has secured its second class society Approval in Principle (AiP) from ClassNK for its air lubrication sector (ALS) with a new patented design.The ClassNK AiP follows a similar AiP secured by Minke with DNV. The latest AiP comes as Minke Marine began receiving verified data from its first installation on a 55,000 DWT DNV-classed, Norwegian-owned general cargo vessel.
Applications Open for IFCHOR Galbraiths' 2026 Training Program
Applications are now open for the 2026 edition of the IG Shipping Course, a two-week, residential training program run by shipbroker IFCHOR Galbraiths. Now in its sixth decade, the IG Shipping Course has trained more than 1,000 professionals from across the maritime sector. The course is designed not only for new entrants to shipping, but also professionals transitioning from adjacent sectors such as finance…
BOEM Reaffirms Gulf Lease Sales 259 and 261
The Bureau of Ocean Energy announced a Record of Decision reaffirming its prior decisions regarding Gulf of America’s Outer Continental Shelf Oil and Gas Lease Sales 259 and 261. This ROD supports BOEM’s continued commitment to responsible offshore energy development while strengthening environmental safeguards and legal compliance.This decision follows the August 29, 2025, publication of the Final…
Hoyer VMS Group Strengthens Chinese Presence with Headquarters Expansion
Hoyer VMS Group, a global partner for power and motion solutions at sea, is expanding its Asian headquarters in Ningbo, China. The 3,800 square meters warehouse and workshop expansion enhances Hoyer VMS capabilities in supporting shipowners, fleet managers, shipyards and OEM customers across Asia. Asia remains a strategic growth region for the maritime industry, with many of the world’s largest shipowners, fleet operators and shipyards located in the region.
Kongsberg Maritime Expands Offerings in Indonesia with PT PAL MoU
Kongsberg Maritime announced the signing of a Memorandum of Understanding (MoU) with PT PAL Indonesia, the country’s largest state‑owned shipyard. The signing ceremony took place at PT PAL’s headquarters in Surabaya and was attended by representatives from Kongsberg Maritime, PT PAL, and the Norwegian Ambassador to Indonesia, Rut Krüger Giverin.Kongsberg Maritime is a leading provider of marine technology solutions.
European Transport Groups Urge Stronger EU Budget
A total of 45 European transport organizations are joining forces and collectively urge national governments to strengthen European funding for transport under the future EU budget, particularly to increase the budget of the future Connecting Europe Facility (CEF) to at least USD$117 billion (€100 billion).A robust European transport network is of crucial importance in responding to Europe’s strategic objectives.
Silk Searoad Appoints V. for Bulk, Tanker Fleet Management
V., the global ship manager and marine services provider, has announced a new partnership with Greek shipowner Silk Searoad Maritime S.A for the technical management of their bulk and tanker fleet of eight vessels. Through the partnership, Silk Searoad will benefit from access to V.’s integrated marine services, global scale, expertise and data-driven platforms.V. will oversee the long-term management and performance of Silk Searoad’s fleet…
Freire Signs Deal with Sweden’s FMV for Four Naval Support Vessels
Spanish shipbuilder C.N.P. Freire has signed a contract with the Swedish Defence Materiel Administration (FMV) to construct four naval support vessels.The 47-meter vessels will be designed for naval support missions and built to operate in harsh weather and ice conditions. Each ship will accommodate 16 crew members, reach speeds of up to 12 knots and have an endurance of up to 10 days.The vessels will be equipped with two main cranes on the main deck and an auxiliary crane for supplies…
Mitsubishi Delivers First Ammonia Fuel Supply Systems for Marine Use
Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group, has shipped the first ammonia fuel supply system (AFSS) and ammonia gas abatement system (AGAS) for Japan Engine Corporation.The systems are designed for J-ENG’s first ammonia-fueled marine engine model 7UEC50LSJA-HPSCR and represent the first units produced by Mitsubishi Shipbuilding. Commissioning work for the systems will…
Nam Cheong Hooks $64.5M Deal to Build Four OSVs
Malaysia-based offshore support vessel (OSV) builder Nam Cheong has secured shipbuilding contracts worth $64.5 million from a UAE-based global energy maritime logistics company for the construction of four offshore support vessels, marking its first newbuild contract win in over a decade.The order comprises two dive support vessels (DSVs) and two 60-meter remote operated landing crafts (ROLC), with deliveries scheduled between the second half of 2027 and early 2028.
NorthStandard Partners Signol to Support Crew-Led Decarbonization
Marine insurer NorthStandard has entered a two-year partnership with behavior change specialist Signol to offer members discounted access to a crew-focused decarbonization service aimed at reducing fuel consumption and emissions.Under the agreement, Signol will cover onboarding costs and provide preferential rates on its monthly software-as-a-service subscription.NorthStandard said it recognizes the…
Kongsberg Discovery Expands Multibeam Echosounder Portfolio
Kongsberg Discovery has launched two new variants of its EM2042 multibeam echosounder, extending high-resolution seabed mapping capabilities to deep-rated subsea vehicles and naval operations.The new EM2042 DR600 and EM2042 BNS build on the existing EM2042 platform and its next-generation acoustic architecture, targeting deepwater unmanned platforms and defense environments, respectively.The EM2042 DR600 is engineered for underwater vehicles including autonomous underwater vehicles (AUVs)…
SDHI to Complete Five Offshore Support Vessels for San Maritime
Swan Defence and Heavy Industries Limited (SDHI) has announced it will complete five offshore support vessels (OSVs) for Kakinada-based San Maritime India, marking a further step in the revival of the Pipavav shipyard.San Maritime has begun docking the vessels at SDHI’s yard in Pipavav for completion under IR Class, after which the ships are expected to serve offshore industry demand.The hulls were…
All American Marine to Build Second Glacier and Wildlife Tour Vessel
All American Marine (AAM) is currently constructing a sister ship to the Chugach Express for Phillips Cruises & Tours.Building on the proven performance of the Chugach Express, the new high-speed, long-range eco-tour vessel will operate daily in Prince William Sound and be homeported in Whittier, Alaska. Developed by Nic de Waal of Teknicraft Design, this 84.5’ x 30.7’ aluminum passenger vessel features…
Australia Intercepts Two Illegal Fishing Boats
The Australian Border Force (ABF) has acted under Operation BROADSTAFF, intercepting two foreign fishing vessels in the vicinity of Albany Islands, Queensland on February 20.During intelligence led patrols of the region, ABF officers from Maritime Border Command (MBC), working with partner agencies, intercepted two suspected illegal foreign fishing vessels near Cape York.Officers identified 510kg of salt and fishing equipment on board the vessels.
A Welcome Change for the Ship Recycling Industry
International market turmoil from the direct / indirect imposition of global tariffs and related actions saw a crazy Week 8 wind up in 2026, as freight rates and oil prices both moved up and subsequently down, reports cash buyer GMS.As oil rose above USD 63/barrel from last week to well over USD 66/barrel this week, it retreated back down to USD 65.93/barrel by week’s end, amid investors and forecasters…
EU Extends Mandate of Operation ASPIDES
The EU Council has extended the European Union’s maritime security operation to safeguard freedom of navigation in relation to the Red Sea crisis (EUNAVFOR ASPIDES) until 28 February 2027, following the strategic review of the operation.The Council agreed to provide nearly €15 million ($18 million) to cover the costs of the operation which contributes to safeguarding freedom of navigation in the Red…
BMT Opens Digital Simulation Centre in Fareham
BMT has poened its Digital Innovation & Simulation Centre (DISC) at the organisation’s Fareham site in the UK - a facility designed to provide a premium environment for high‑value simulation, immersive engineering and commercially focused engagement.The facility is powered by the BMT REMBRANDT navigation simulator - a DNV‑accredited system used globally for port feasibility, pilotage training and quantitative…
