Offshore News

BOURBON has taken delivery of the first of two new 34-meter crew boats from Grandweld Shipyards in Dubai, expanding its fleet of offshore personnel transport vessels.The first vessel was officially delivered on November 3 following successful sea trials.Designed to transport offshore personnel, the new vessels have capacity for 60 passengers, with business-class-style seating, a cruising speed of up to 38 knots and improved fuel efficiency compared with the previous generation…

After disembarking more than 200 passengers who had paid tens of thousands of dollars to live on board for years, the Villa Vie Odyssey cruise ship departed Cambodia early on Wednesday.Last week, the vessel's owner, Florida-based Villa Vie Residences, suspended operations and forced passengers off the ship at the port town of Sihanoukville, saying ‌fuel price increases from the Iran war had made operations prohibitively expensive.The ship left with no passengers and around 50 crew, according to Taing Sochitkrishna, head of the Sihanoukville tourism department.

Cadeler has signed a firm contract to support turbine transportation and installation at the 1.2 GW Dogger Bank C offshore wind project in the UK, with its newbuild Wind Apex wind turbine installation vessel (WTIV) scheduled to join the campaign in the third quarter of 2027.The contract will mark the first deployment of Wind Apex following its delivery from the shipyard, according to Cadeler.The vessel will work alongside the project's existing installation vessel, providing additional…

Dutch-based Jack-Up Barge, backed by the Van Es Group, has expanded its fleet with the three-legged accommodation and services jack-up unit JB 121, following a naming ceremony in Dalian, China.The ceremony took place on November 3 at Dalian Shipbuilding Offshore, ahead of the unit's scheduled departure for the Netherlands in early November.Jack-Up Barge, a company that provides support services across the offshore wind, oil and gas, and maritime infrastructure sectors, initiated the acquisition of JB 121 earlier in 2026 as part of its fleet expansion strategy…

Stillstrom by Maersk has completed the construction and factory acceptance testing of what it describes as the world's first 11 kV vessel-mounted connection unit designed to charge service operation vessels (SOVs) directly from offshore wind farms.The milestone, witnessed by DNV, marks the completion of testing for Stillstrom's Vessel Container Unit (VCU), a modular system designed to transfer electricity from offshore wind infrastructure to vessel batteries.The containerised unit houses an 11 kV connector package and can be installed at the bow…

Wärtsilä has completed the conversion of one engine on each of three LNG carriers operated by Chevron Transport Corporation from dual-fuel to spark gas operation, as part of a project aimed at reducing methane emissions from the vessels.The conversions involve modifying Wärtsilä 50DF engines to use spark ignition instead of diesel pilot fuel to initiate combustion, allowing for a more optimized combustion process and reduced methane slip.Methane slip refers to uncombusted methane…

Saudi state oil giant Aramco is working to expand a crude pipeline that circumvents the Strait of Hormuz as the world continues to experience the biggest energy supply shock in history, CEO Amin Nasser said on Tuesday.The effective blockade of the chokepoint that links the Gulf to world markets, previously a conduit for 20% of global oil supplies, has redrawn global energy flows and infrastructure investment priorities among the region's oil producers.Last month, Saudi Energy…

Hornbeck Offshore Services has signed multiple agreements with Shell to provide deepwater well intervention and marine support services in the U.S. Gulf of America, with operations scheduled to begin in 2027.The agreements cover riser-based well intervention, riserless well intervention stimulation support and marine transportation services, according to Hornbeck.Under the agreements, Hornbeck expects to deploy a riser-based well intervention vessel equipped with an Intervention Riser System (IRS) and remotely operated vehicles (ROVs)…

After seven strikes on cargo ships near NATO members Romania and Bulgaria last month, the US-led military alliance said it would deploy maritime patrol aircraft, radars and drones to bolster its eastern flank in the Black Sea.Three days later, on October 23, another ship was struck just outside Romanian waters. And last week a Greek container ship was sunk by naval drones in Bulgaria's exclusive economic zone.Unabating attacks show how the escalating maritime war between Russia…

Qatar Gas Transport Company (Nakilat) has named nine new gas carriers at three South Korean shipyards, marking progress in its fleet expansion programs aimed at increasing LNG transportation capacity and diversifying into LPG/ammonia shipping.The naming ceremonies, announced on November 2, took place at HD Hyundai Heavy Industries, Hanwha Ocean and HD Hyundai Samho, covering seven LNG carriers and two LPG/ammonia carriers.Five of the LNG carriers form part of Nakilat's 25-vessel…

October maintained the strong pace of contracting for alternative-fueled vessels observed since the summer, with 53 new orders recorded during the month, according to DNV’s Alternative Fuels Insight (AFI) platform.LNG accounted for 30 of October’s orders. Container ships remained at the forefront of these, with 18 vessels ordered, while car carriers contributed a further 12.The month also saw 19 orders for LPG carriers, adding to continued activity across the alternative-fuelled fleet.In addition…

Maritime technology company NAVTOR has introduced real-time AIS streaming to its NavFleet platform, allowing fleet managers to monitor vessel positions, movements and surrounding traffic with minimal latency.The new capability, included in NavFleet version 2.7.1, uses NAVTOR's existing digital infrastructure to capture and transmit live vessel AIS data, providing ship operators with more immediate access to information on vessel speed, heading and position.The system uses NavBox…

Oil fell nearly 4% on Monday as talks between Iranian and Qatari officials on a deal to end the US-Israeli war on Iran raised hopes that Middle East supply disruptions could ease.Iranian negotiators left Doha talks on Sunday, but not due to difficulties in negotiations, an official briefed on the meeting told Reuters on Monday."The new month brought with it renewed hopes of a breakthrough in the Iranian stalemate," said Tamas Varga of oil broker PVM.Brent crude futures LCOc1 fell $4.20…

Iran's Revolutionary Guards Navy said on Friday that four oil tankers had caught fire and exploded in the Strait of Hormuz, while attempting to use what it described as unauthorised routes, Iranian state media reported.In its latest statement, the IRGC Navy said a fourth vessel, a tanker carrying more than 2 million barrels of crude oil, had hit a mine, suffered a powerful explosion and was burning.An IRGC Navy statement had said earlier that one of the tankers, which was also carrying 2 million barrels of crude oil…

Big Oil is reaping near record cash windfalls from the eight-month-old Iran war, but Western energy producers’ reluctance to ramp up spending reveals persistent doubts about the industry’s long-term outlook.BP, Chevron, Exxon Mobil, Shell and TotalEnergies reported combined net profits of $56 billion in the third quarter, driven by surging oil and gas prices, record-high refining margins and strong trading results.BP posted its highest quarterly profit ever, $8.5 billion, as earnings from its refining business rose tenfold from a year earlier.

Borr Drilling has confirmed the recovery of a fourth body following the sinking of its Prospector 5 jack-up rig offshore Gabon, with search operations continuing for one person still missing.The company said on November 2 that the body of a fourth individual had been located during ongoing search and rescue operations, bringing the number of confirmed fatalities to four.All four bodies have been recovered and are being transported to Port Gentil, Gabon.The Prospector 5 sank offshore…

Turkish shipbuilder Sanmar Shipyards has delivered a new harbour tugboat to Bulgarian operator VTC S.A., marking the fifth vessel supplied to the company since their partnership began in 2003.The tug, renamed KASTRITSI by its new owner, will join VTC's fleet at the Black Sea port of Varna, supporting harbour towage and marine operations.Based on the RApport 2500 design by Robert Allan, KASTRITSI is a shallow-draft Azimuth Stern Drive (ASD) tug designed for operations in confined and shallow waterways.The vessel measures 25.2 meters in length and 12 meters in beam…

General Dynamics reported $98.8 billion in new orders in the third quarter of 2026, driven by major submarine contracts, while revenue rose 12.9% year-on-year to $14.6 billion, the company announced on October 30.The aerospace and defense company's total backlog reached $220.3 billion at the end of the quarter, with an additional $50.4 billion in estimated potential contract value, bringing its total estimated contract value to $270.7 billion.Orders across its defense segments totaled $93.8 billion…

Huisman has secured a contract from Siem Industries to supply four knuckle boom cranes for two offshore subsea construction vessels under construction at Fujian Mawei Shipbuilding in China, with deliveries of the vessels scheduled for 2029 and 2030.The contract covers two 400-tonne knuckle boom cranes with below-deck winches and two 50-tonne auxiliary cranes with deepwater capabilities, Huisman announced on October 29.The cranes will be manufactured at Huisman's production facility in Zhangzhou, Fujian Province, China, while the vessels are being built at Fujian Mawei Shipbuilding in Fuzhou.Th

Solstad Maritime has secured two contracts for its Normand Australis construction support vessel (CSV) in the Asia Pacific region, with a combined firm duration of 250 days.The contracts will be executed consecutively, with operations expected to begin in December 2026, Solstad Maritime announced on October 30.The agreements also include options for a combined 75 additional days beyond the firm contract periods.The estimated value of the contracts is at the lower end of the $10 million to $30 million range.Under the contracts, Normand Australis will provide remotely operated vehicle (ROV) and

Dutch geological data specialist Fugro said on Friday that Iran war-linked disruptions had dented its earnings by €25 million ($28 million) this year, including €10 million in the third quarter alone, while GPS jamming and restrictions on vessel movements continued to hamper Gulf offshore operations.Some clients in the region have altered project plans and, in some cases, used their own vessels for work that would otherwise have been contracted to Fugro, CEO Mark Heine told Reuters."We have work…

Dutch geological data specialist Fugro said on Friday that Iran war-linked disruptions had dented its earnings by €25 million ($28 million) this year, including €10 million in the third quarter alone, while GPS jamming and restrictions on vessel movements continued to hamper Gulf offshore operations.Some clients in the region have altered project plans and, in some cases, used their own vessels for work that would otherwise have been contracted to Fugro, CEO Mark Heine told Reuters."We have work, but it's not always possible to work because you have no navigation because the signals are being blocked, jammed," Heine said, adding that GPS interference could prevent survey vessels from carrying out work safely and accurately.To mitigate the operational impact…

DeepOcean has secured a contract from Tullow Ghana to carry out subsea gas lift riser retermination work at the Jubilee field offshore Ghana, using its recently upgraded Orient Adventurer subsea construction vessel.The project involves a gas lift riser connecting the Kwame Nkrumah floating production, storage and offloading (FPSO) vessel to the Jubilee subsea production system, with offshore operations scheduled for the fourth quarter of 2026.DeepOcean's scope includes project management…

DNV has issued a Statement of Feasibility for Aker BP and Höegh Evi's concept to transport liquefied carbon dioxide (CO2) by shuttle carriers and inject it directly into subsea wells for permanent storage at the Atlas project offshore Norway.The assessment covers the offshore infrastructure required to transfer CO2 from vessels into the reservoir, with DNV concluding that the main technical challenges and uncertainties identified are manageable at the current stage of development.The Atlas project…

Shipbuilder Vard has launched a new energy construction vessel (ECV) being built for Wind Energy Construction, a Norwegian company partly owned by the founders and owners of Norwind Offshore, with delivery scheduled for the second quarter of 2027.The vessel, designated NB985, was successfully launched on October 27 and is under construction at Vard Vung Tau in Vietnam, Vard announced.Based on Vard's VARD 3 11 design, the vessel is intended for offshore wind and subsea operations, including inspection, maintenance and repair of subsea pipelines, as well as the construction and installation of o

We are entering in interesting period in the subsea vessel market, as contract backlog among the EPCs continue to rise to new all-time highs, existing long-term contracts are coming up for renewals, and a wave of newbuilds are closing in on delivery. On the top end, the market dynamics are changing as the Tier 1 EPC landscape is consolidating, while the fleet is expected to see a net growth of more than 20% in the coming two years.The still pending merger between Saipem and Subsea 7 is getting closer, with now only the European Commission’s Phase II review outstanding at the time of writing.

We are entering in interesting period in the subsea vessel market, as contract backlog among the EPCs continue to rise to new all-time highs, existing long-term contracts are coming up for renewals, and a wave of newbuilds are closing in on delivery. On the top end, the market dynamics are changing as the Tier 1 EPC landscape is consolidating, while the fleet is expected to see a net growth of more than 20% in the coming two years.The still pending merger between Saipem and Subsea 7 is getting closer, with now only the European Commission’s Phase II review outstanding at the time of writing. The European Commissions deadline was first 26th November 2026, then extended by 14 working days to the 16th December.

Three bodies have been located inside the wreck of Borr Drilling's Prospector 5 jack-up rig, which sank offshore Gabon on October 24, with search and rescue operations continuing for two people still missing.The bodies were discovered during underwater inspections using a remotely operated vehicle (ROV), Vice-Admiral Charles Hubert Bekale-Meyong, chief of staff of the Gabonese Navy and commander of the search-and-rescue operation, confirmed in an October 28 statement.The images obtained did not allow the bodies to be identified…

With USD$9.87 million (8.85 million euros) in funding from the Federal Ministry for Economic Affairs and Energy (BMWE), Fraunhofer IFAM is establishing a new research infrastructure for wind energy. The FOKUS-Wind project will create Germany's first end-to-end testing and validation chain for autonomous systems in offshore wind farms across the institute's sites in Bremen, Cuxhaven, and Heligoland. The infrastructure will enable companies and research organizations to develop, test, and qualify drones, robotic systems, and sensors under realistic operating conditions.

With USD$9.87 million (8.85 million euros) in funding from the Federal Ministry for Economic Affairs and Energy (BMWE), Fraunhofer IFAM is establishing a new research infrastructure for wind energy. The FOKUS-Wind project will create Germany's first end-to-end testing and validation chain for autonomous systems in offshore wind farms across the institute's sites in Bremen, Cuxhaven, and Heligoland. The infrastructure will enable companies and research organizations to develop, test, and qualify drones, robotic systems, and sensors under realistic operating conditions. The aim is to support their reliable and cost-effective use for the inspection…

Germany's Economy Minister Katherina Reiche on Wednesday said companies may return previously auctioned offshore wind farm sites, provided they pay a penalty to transmission system operators, as mounting economic pressures continue to batter the sector.The move comes as increasing financing costs, overcapacity in certain sea areas and declining revenue expectations have made it harder for developers to deliver on awarded projects.In a letter to Reiche, the heads of eight of Germany's 16 states called on her to amend a bill before the German lower house of parliamentThey advocated for a one-tim

India has approved a $1.05 billion (100 billion rupee) scheme aimed at increasing domestic shipping container manufacturing capacity around tenfold to 750,000 TEUs annually, as the country seeks to reduce import dependence and strengthen its maritime supply chains.The Container Manufacturing Promotion Scheme (CMPS), approved by the Union Cabinet chaired by Prime Minister Narendra Modi on October 28, will support the establishment of new manufacturing facilities and expansion of existing production units.The initiative…

An oil spill from a damaged tanker off the coast of the United Arab Emirates has widened, satellite images showed, triggering more beach closures and raising environmental concerns.Images from the European Union's Copernicus satellite observation network dated October 24 show the oil spill has widened over the last few days and is reaching close to the shores of the northern Umm Al Quwain emirate, with dark layers of oil spreading at sea and along its coastline.Since the start of the US-Israeli war with Iran…

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and HD Hyundai Heavy Industries (HHI) have secured concept verification from the American Bureau of Shipping (ABS) for a breakerless medium-voltage direct current (MVDC) power system designed to improve energy efficiency and support electrification of large commercial vessels.The system, designed for vessels requiring around 30 MW of power, aims to improve energy efficiency and support high-capacity electrification as ships…

Seaway7, part of Subsea7 Group, has completed the final inner-array cable lay at the 1.4 GW East Anglia THREE offshore wind farm, developed by ScottishPower Renewables and Masdar, marking another milestone in the project's offshore construction.The campaign involved the installation of 95 inner-array cables, with more than 240 kilometers of cable loaded, laid and pulled into the foundations, Seaway7 announced on October 26.The milestone follows the installation of all 95 monopile foundations and transition pieces earlier this year…

Siem Industries has ordered two offshore subsea construction vessels (OSCVs) from Fujian Mawei Shipbuilding in China, with deliveries scheduled for 2029 and 2030.Each vessel will be equipped with a 400-tonne active heave compensated (AHC) subsea crane and an additional 50-tonne AHC subsea crane to support subsea construction and offshore support operations.The vessels will measure approximately 145 meters in length and 27 meters in beam, with designs developed by Sirius Design…

Fugro has secured a contract from 50Hertz to carry out unexploded ordnance (UXO) survey, identification and clearance work for the LanWin3 and LanWin6 offshore grid connection projects in the German sector of the North Sea.The work will help prepare cable routes for the installation of high-voltage direct current (HVDC) cables connecting offshore wind farms to Germany's electricity network.The two grid connections will each have a transmission capacity of up to 2 GW, providing…

Reach Subsea and Eidesvik Offshore have completed the sale of the inspection, maintenance and repair (IMR) vessel Viking Reach, with the vessel delivered to its new owners on October 26.The transaction was completed through Eidesvik Reach, a joint venture between Reach Subsea and Eidesvik Offshore, following a deal first announced in August 2026.Neither company identified the buyer in its latest announcement.Although not confirmed by October announcement, Asso Group reported on August 4 that it had signed a memorandum of agreement to acquire Viking Reach…

Shipping through Romania's Black Sea port of Constanta was stable and grain exports had increased by end-September, the port authority said, despite a spike in marine insurance premiums driven by increased attacks on cargo vessels.In September, London's marine insurance market widened the area in the Black Sea it lists as high risk, as Russia's war in Ukraine escalated, with only the territorial waters of Georgia, Bulgaria, Romania and Turkey exempted.The Black Sea is a vital route for grain…

Singapore's Seatrium has secured an agreement with Keppel's subsidiary RigCo to complete construction work on four offshore drilling rigs under an existing master services arrangement, with the total estimated contract value exceeding $390 million (S$500 million).The four rigs comprise a premium seventh-generation drillship, a harsh environment jack-up and two mid-water semisubmersibles designed for operations in the harsh conditions of Northwest Europe.The construction work will be funded by existing cash retained in RigCo…

Borr Drilling's Prospector 5 jack-up rig has sunk offshore Gabon after experiencing a punch-through event during preload operations that caused it to lose stability, leaving five people missing and 110 safely accounted for among the 115 personnel on board.In its latest update on October 26, Borr Drilling said extensive marine and air search and rescue operations were continuing for the five missing individuals, while the 110 personnel accounted for were being brought ashore in Gabon…

HD Hyundai and Kiewit Maritime Co. have announced plans to establish a joint venture to develop a new shipyard in the United States, targeting the start of construction in 2027 and full-scale operations in 2029.The proposed venture, HD Kiewit Shipbuilding LLC, would combine HD Hyundai's shipbuilding technology and shipyard operating expertise with Kiewit's engineering, construction and fabrication capabilities, the companies said.The shipyard is planned for an existing industrial site with deep water and unrestricted access to the Gulf…

The United Arab Emirates said efforts were under way on Friday to contain oil leaking from a tanker vessel offshore that prompted authorities to close beaches and warn fishermen to avoid the area.Since the start of the US-Israeli war with Iran, attacks on commercial vessels in Gulf shipping lanes have driven up security risks for maritime traffic and heightened fears over the conflict's environmental fallout.The UAE's Ministry of Climate Change and Environment said in a statement…

Crewsure Insurance Services Limited (Crewsure) has announced the launch of Crewsure Energy, a new program that brings together traditional employee benefits with specialist Crisis Response protection, designed for companies employing personnel working in the international energy and offshore sectors.The launch represents an expansion for Crewsure, as the company already provides specialist MLC crew benefits for personnel working aboard drilling ships and other maritime assets.

Canada Pension Plan Investment Board (CPP Investments) and OMERS have agreed to sell their combined 63.9% stake in Associated British Ports (ABP) to a fund managed by IFM Investors, in a deal expected to close in the first half of 2027.Under the agreement announced on October 21, CPP Investments will sell its entire 33.9% holding, while OMERS will dispose of its 30% stake in the UK ports operator.IFM Investors is a global asset manager, founded and owned by Australian pension funds and the UK pension fund…

Norwegian offshore vessel owner DOF Group has secured a subsea installation contract in Africa, with its Skandi Acergy construction support vessel (CSV) scheduled to undertake the offshore campaign in early 2027.The contract, valued at between $15 million and $25 million, covers project management, engineering, logistics and offshore execution services for the transportation and installation of subsea production systems (SPS) at deepwater field developments.The offshore campaign…

Oil prices rallied over $2 a barrel on Thursday after more Houthi attacks in Saudi Arabia stoked concerns over a broader escalation of conflict and further disruptions to crude supplies from the world's key exporting region.Brent crude futures LCOc1 climbed$2.82, or 2.59%, to $111.64 a barrel at 0626 GMT, close to a five-month high. US West Texas Intermediate crude CLc1 gained $2.24, or 2.31%, to $99.39."Oil prices remain well bid, with ICE Brent back above $110 per barrel this morning following additional deadly attacks on Saudi Arabia…

Iran's Islamic Revolutionary Guard Corps Navy said on Thursday that four vessels involved in illegal oil transfers in the northern Persian Gulf were simultaneously hit and caught fire after being tracked by its forces on Wednesday.The IRGC added that three more vessels collided with mines west of the Strait of Hormuz, and warned the US military that continued provocations could lead to a wider response against its regional bases.(Reuters - Reporting by Tala Ramadan; Editing by Jacqueline Wong)

OEG Marine Services has ordered three additional crew transfer vessels (CTVs) from Diverse Marine, expanding its offshore wind support fleet under a newbuilding program scheduled for delivery throughout 2027.The vessels will be built to the BREVITY SL Class design developed by Chartwell Marine, with each measuring 26 metres in overall length and having a load line length of less than 24 metres.All three CTVs will be constructed to the same specification, classed by Bureau Veritas…

Norwegian energy company Equinor and Sharjah National Oil Corporation (SNOC) have signed a memorandum of understanding (MoU) to explore cooperation in liquefied petroleum gas (LPG) and natural gas liquids (NGL) shipping, storage, trading and logistics in the United Arab Emirates.The agreement, announced on October 20, establishes a framework for assessing potential business opportunities across the downstream oil and gas sector.The companies will evaluate cooperation in infrastructure…

ZEBOX, the international innovation accelerator founded by CMA CGM Group Chairman and CEO Rodolphe Saadé, has announced four winners of its first Asia-Pacific Challenge for Impact competition, held in Ho Chi Minh City, Vietnam.The competition, organized in partnership with CMA CGM Vietnam and technology company FPT, focused on developing solutions for maritime operations, logistics and artificial intelligence applications.Held on October 15 at the Caravelle Saigon Hotel as part of France Vietnam Forward…

DNV has become the first non-Japanese recognized organization authorized by Japan's Flag Administration to apply floating offshore wind classification rules in the country.The authorization allows DNV to apply its floating offshore wind rules within Japan's regulatory framework, supporting the classification and technical assessment of floating wind installations.The rules cover floating substructures, mooring and station-keeping systems, as well as associated safety and utility systems.DNV said the approval strengthens its ability to provide technical expertise…

Saitec Offshore Technologies and Japan's Kansai Electric Power Company (KEPCO) have agreed to extend operations at the 2 MW DemoSATH floating offshore wind demonstrator in Spain through 2027, with Japanese construction company Kumagai Gumi joining the project as a new partner.The three companies have signed a cooperation agreement to continue operating the floating wind turbine at the BiMEP open-sea test site off the Basque coast, shifting the project's focus towards research…

SSE Renewables has selected Subsea7's Seaway7 as preferred supplier for offshore wind turbine foundations and subsea inter-array cables at its 1.4 GW Berwick Bank B offshore wind project in Scotland, under an agreement expected to support 465 UK jobs.The preferred supplier agreement covers engineering, procurement, construction and installation (EPCI) of approximately 90 fixed-bottom turbine foundations, as well as the design, supply and installation of inter-array cables.The project is planned for the outer Firth of Forth…

Twelve migrants drowned in two separate incidents off the Greek islands of Lesbos and Samos in the northeastern Aegean Sea on Monday, after their boats capsized as the coast guard chased them, authorities said.Five men and one woman died after a speedboat carrying migrants from Turkey made a sudden manoeuvre and overturned roughly four nautical miles north of Samos, the Greek coast guard said.Fourteen men survived and a search-and-rescue operation was under way. Authorities arrested one of the survivors…

German defense contractor Rheinmetall and Swiss shipping company MSC have won an auction to acquire Romania's Mangalia shipyard for approximately $155 million (€138 million), with plans to develop the facility for both commercial and military shipbuilding.The acquisition, expected to be completed within a few weeks, will be jointly funded by the two companies, Rheinmetall said.The shipyard, located south of Constanța, will be developed into a dual-use facility serving domestic and international markets…

Iran's Revolutionary Guards Navy said on Saturday that two oil tankers had caught fire after hitting naval mines while crossing the Strait of Hormuz, the official Iranian news agency IRNA reported.State media said both tankers were carrying about 2 million barrels of crude oil.There was no independent confirmation of the reports.IRNA reported that the vessels had switched off their positioning and radar systems and attempted to use an unauthorised route through the strategic waterway.

Norwegian offshore vessel owner Eidesvik Offshore has secured a contract extension from Equinor for its platform supply vessel (PSV) Viking Avant, keeping the vessel under contract until the end of 2027.The extension follows directly from the current contract and includes an option for a further extension, according to Eidesvik."Viking Avant has served Equinor since delivery in 2004, and we are pleased to extend our collaboration on current market terms. The extension reflects the consistent performance of the vessel and her crew…

Shippers' appetite for lower-carbon marine fuels weakened this year as the fate of a regulatory emissions framework from the International Maritime Organization (IMO) remained cloudy while some are using carbon credits, industry executives said.IMO member nations are set to meet by early November on the formal adoption of a net-zero framework to guide the industry towards zero carbon emissions by 2050, after last year's vote to delay the move.Demand for marine biofuel, a more readily available alternative fuel on which shippers have focused more…

Greece said on Thursday the developer of an EU-backed undersea power cable scheme in the eastern Mediterranean has applied for a license to resume seabed surveying, key for the long-delayed project to move ahead.Construction of the Great Sea Interconnector (GSI) aims to link the European mainland to Cyprus and later Israel, but is opposed by Turkey.US Secretary of State Marco Rubio in Athens last week said the US was "very committed" to the project as it promotes energy supply diversification…

DEME has secured a contract worth between $56 million and $168 million for the transportation and installation of 69 wind turbines at the Zeevonk offshore wind farm in the Dutch North Sea, expanding its role in the approximately 1 GW project.The company will deploy its next-generation jack-up offshore transport and installation vessel, Norse Energi, to install the turbines during the first phase of the development.The latest award, valued between $56 million and $168 (€50 million and €150 million)…

Rescuers were searching for seven missing crew on Thursday from one of two chemical tankers that caught fire overnight inside Romanian territorial waters in the Black Sea, after Russian drones strayed into Romanian airspace, Romanian officials said.Romanian officials stopped short of explicitly linking the fires onboard the ships to the Russian drones. But the incidents follow drone strikes on at least five other cargo ships near the coasts of Romania and neighbouring fellow NATO member Bulgaria over the past 10 days.

Oil markets initially treated the Iran war as a brief bullish disruption in a long-term bearish trend. But traders are now betting that oil prices will remain elevated through 2028, forcing a rethink of the global inflation outlook.Eight months into the war, the buffers that helped absorb the initial energy shock – most notably onshore crude oil stockpiles – are wearing dangerously thin. At the same time, the recovery in crude exports through the Strait of Hormuz remains fragile…

PetroChina International on Thursday will use liquefied natural gas to bunker a vessel in Singapore for the first time, Chairman Wu Junli said, widening the alternative-fuel options it can offer shipowners at the world's top refuelling port.The trading arm of Chinese state major PetroChina 601857.SS was one of eight firms that received LNG bunkering licences from the Singapore government, and it also has a licence to supply methanol to ships.PetroChina will also complete the acquisition of a methanol bunker vessel on Friday, Wu told the Singapore International Bunkering conference.Citing Clark

Norwegian offshore vessel owner DOF Group has secured a contract extension for its construction support vessel (CSV) Skandi Nomad.The 12-month extension will keep the vessel on firm contract until November 2027.The extension follows the exercise of an existing contract option, DOF said.The company classified the value of the option period as limited, representing a contract worth less than $15 million under its contract value reporting system.Skandi Nomad, built in 2010, is designed for subsea operations across a range of water depths and environmental conditions.

A Japanese consortium led by shipping giant NYK Line has developed a new port-based floating data center concept designed to accelerate the commercialization of offshore data centers while addressing growing constraints on land availability, electrical power and construction timelines.The consortium, comprising Nippon Yusen Kabushiki Kaisha (NYK), NTT FACILITIES, Eurus Energy Holdings and MUFG Bank, envisions floating data centers moored alongside existing port quays, leveraging…

Iran is deploying new tactics to target ships sailing through the Strait of Hormuz as it seeks to keep oil prices high and influence the US midterm elections, two senior Iranian officials told Reuters.Tehran has tried to exert control over the Strait of Hormuz since the US and Israel launched strikes against Iran on February 28. It has restricted passage through the waterway, which carried about a fifth of global oil and liquefied natural gas trade before the war, in an effort to gain leverage over Washington.Its threats and attacks have severely curtailed traffic through the strait…

A Ukrainian ex-military officer goes on trial in Germany on Wednesday, accused of organising the secret operation that blew up the Nord Stream gas pipelines in September 2022, severing western Europe from the biggest source of Russian natural gas.The suspect, identified under German privacy rules only as Serhii K., is accused of leading a group of Ukrainian agents including divers and an explosives expert to mount one of the biggest infrastructure sabotage operations of modern…

Wärtsilä has signed a five-year service agreement with Finnish ferry operator Viking Line covering the passenger ferry Viking XPRS, expanding the companies' maintenance partnership to a third vessel.The agreement covers the vessel's Wärtsilä engines and includes maintenance planning, scheduled spare parts, tailored maintenance support and a dedicated contract manager responsible for overseeing maintenance activities.The contract is designed to improve engine reliability, operational…

Asia LNG Transport (ALT), a joint venture between NYK and MISC Berhad, has signed a long-term time-charter contract with Malaysia LNG for a newbuild liquefied natural gas (LNG) carrier that will transport LNG to Japan.The vessel will be constructed by Hudong-Zhonghua Shipbuilding in China, with delivery scheduled for 2028.Following delivery, the carrier will be deployed in LNG transportation services to Japan under the charter agreement.The vessel will have a cargo tank capacity of 18…

Kongsberg Maritime has secured a contract with IWS Fleet, a subsidiary of Integrated Wind Solutions (IWS), to provide vessel design and integrated technology systems for four new commissioning service operation vessels (CSOVs) intended for offshore wind operations.Kongsberg Maritime's scope includes electrical power systems, navigation and bridge systems, propulsion, deck machinery, dynamic positioning systems and overall system integration.Each vessel will feature a double-ended design with four rim-drive azimuth thrusters…

Marlink has completed the ‘world's first’ upgrade of an existing Intellian C700 Iridium Certus terminal to a fully commissioned Iridium Global Maritime Distress and Safety System (GMDSS) aboard Fugro's offshore supply vessel Fugro Revelation.The upgrade, carried out in partnership with Intellian Technologies and Iridium Communications, enables the vessel to access Iridium GMDSS services without replacing its existing satellite communications terminal.The system provides distress alerting…

Eleven sailors were missing at sea on Tuesday from a ship sunk by a drone attack off the coast of Bulgaria, possibly the second deadly sinking of a cargo vessel in the area in a week, prompting Bulgaria to summon Russia's ambassador.Two cargo ships were hit by drones overnight and one was sunk, Bulgarian officials said. Bulgaria stopped short of explicitly accusing Russia of carrying out the attacks but Prime Minister Rumen Radev said their outcome "benefits the Russian Federation".There…

PowerCell Group has received a follow-up order worth $2.7 million (SEK 27 million) from GMI Group for fuel cell systems and engineering services for two additional hydrogen-electric bulk carriers, expanding the collaboration from two to four vessels.The order covers 10 Marine System 225 fuel cell units, providing more than 2 MW of power, with deliveries scheduled between 2027 and 2028.The agreement follows an initial order placed in September 2025 and brings PowerCell's total supply across the four vessels to 24 Marine System 225 units…

Bibby Marine has launched its new battery-first electric commissioning service operation vessel (eCSOV) at Armon Shipyard in Vigo, Spain, ahead of its planned delivery in 2027.The vessel, which will carry the name Staffordshire, entered the water on October 10 and will undergo further outfitting at the shipyard over the coming months, including the installation of its battery systems.Unlike conventional hybrid-assist designs, the eCSOV is designed to use its energy storage system…

Several top energy executives were dropped from the schedule of the WPC Energy Congress in Riyadh, as Saudi authorities pressed ahead with the event despite deadly attacks on the capital claimed by Yemen's Iran-aligned Houthis.The chief executives of ExxonMobil, TotalEnergies, Shell, Chevron and BP had all been expected at the event, which began on Sunday, but were no longer on the agenda that conference organizers released early Monday.“To everyone who travelled to Riyadh, thank you…

Iran is still reviewing a US response to its proposal regarding the reopening of the Strait of Hormuz and will reply to Washington via intermediaries when the review is over, foreign ministry spokesperson Esmaeil Baghaei said on Monday.Baghaei also told a press conference that Iran continues to exchange messages via intermediaries, without elaborating. Qatar and Pakistan, among others, have acted as mediators in efforts to end the war that began with US and Israeli strikes on Iran on February 28.After a June interim ceasefire crumbled and on-off strikes resumed…

Abu Dhabi-based NMDC Group has inaugurated its new Abu Al Bakhoush heavy-duty cutter suction dredger in Nantong, China, expanding its fleet of more than 170 vessels and strengthening its capacity for offshore and marine infrastructure projects.Built by Jiangsu Haixin Shipping Heavy Industry, the self-propelled vessel measures 148 meters in length and has a maximum dredging depth of 38 meters.The dredger is equipped with a 7.8 MW cutter and total installed power of 30,040 kW, enabling it to undertake heavy-duty rock cutting and dredging operations for offshore trenches…

KENC Engineering has delivered and commissioned a semi-automated boat landing system for Nexans' cable-laying vessel (CLV) Nexans Electra, enabling the equipment to be deployed and secured without using the vessel's crane.The system allows a single operator to deploy and secure the boat landing without additional rigging, reducing manual handling requirements during offshore operations.KENC developed a mechanical movement system incorporating gearboxes and a compact electric motor…

Japanese shipping company NYK has conducted a maritime emergency response drill simulating the grounding of a large bulk carrier and a subsequent fuel oil spill in Japan's Seto Inland Sea.The full-day exercise, held on September 30, involved a simulated accident aboard an NYK-owned and operated bulk carrier managed by NYK Bulkship Partners (NBSP), an NYK Group company.The scenario involved a vessel approximately 300 meters long and measuring about 100,000 gross tons suffering…

CMB.TECH's Mineral Europa, described by the company as the world's first ammonia-powered dry bulk vessel, has embarked on its maiden voyage to Australia, signalling a significant step forward for alternative-fuel shipping.The 210,000-deadweight-tonne vessel, built in 2026, is the first of 21 ammonia-powered ships scheduled to join CMB.TECH's fleet by 2029.The company's ammonia-powered newbuilding program comprises 18 dry bulk carriers, one container ship and two chemical tankers…

The topsides and jackets for two offshore substations serving Germany's 927 MW Gennaker offshore wind farm have departed the Netherlands for installation in the Baltic Sea as part of the OST-6-1 offshore grid connection project.The OSS Zingst and OSS Darß substations are being delivered by the HSI joint venture, comprising Smulders HSM and Iv, under an engineering, procurement, construction, installation and commissioning (EPCIC) contract.The substations, each with a capacity of approximately 450 MW…

Azane Fuel Solutions has received approval from Norway's Directorate for Civil Protection (DSB) to conduct a test bunkering of up to 73 tonnes of ammonia aboard the Viking Energy platform supply vessel (PSV), marking a milestone in its conversion to ammonia propulsion. The operation is scheduled for October or November 2026 at Stord, Norway, as part of the commissioning of ammonia fuel systems being installed under the Apollo project. Ammonia will be transferred to the vessel from up to three tank trailers…

The US imposed fresh sanctions on Iran on Thursday, targeting individuals, networks and 17 vessels for transporting Iranian crude, oil products and petrochemicals, the Treasury Department said, as Washington stepped up economic pressure on Tehran.The sanctions are part of the department's "Operation Economic Outcast," which aims to cut Iran's funding for the war with the US, missile construction, cyberattacks and the Islamic Revolutionary Guard Corps, or IRGC."Today's action represents…

Lamprell has signed an agreement with International Maritime Industries (IMI) to fabricate several offshore structures, including a production platform and jackets, at IMI's Ras Al-Khair facility in Saudi Arabia.The fabrication work forms part of an offshore engineering, procurement, construction and installation (EPCI) project being delivered by Lamprell.The agreement marks the first offshore production platform and jacket fabrication scope undertaken at IMI's Ras Al-Khair yard…

Seatrium has secured an engineering, procurement, construction, installation and commissioning (EPCIC) contract from Excelerate Energy to convert an LNG carrier into a floating storage and regasification unit (FSRU), with an option for a second conversion.The project marks Seatrium's first EPCIC FSRU conversion contract for Excelerate Energy, with engineering work expected to begin in the fourth quarter of 2026 and delivery targeted for 2028.The contract covers the installation and integration of regasification facilities…

Oil prices settled lower on Wednesday following a choppy session after the International Energy Agency agreed to speed up a release of oil stocks and prioritize diesel in a bid to curb record-high fuel prices as the Iran war squeezes global supplies.Brent crude futures LCOc1 settled down 38 cents, or 0.38%, at $100.20 a barrel. US West Texas Intermediate (WTI) crude futures CLc1 settled down $1.16, or 1.3%, to $88.28.The IEA said completing previously announced releases as quickly as possible could bring around 100 million barrels to market…

Framo has signed a four-year agreement with Petrobras to inspect and maintain pumping systems across the Brazilian energy company's fleet of about 30 floating production, storage and offloading (FPSO) units, in what the Norwegian pump manufacturer said was its largest service contract of its kind to date.The agreement covers inspection, maintenance and training for Framo pumps installed across the fleet, including seawater lift, firewater, cargo and water injection systems.Work…

BMT has launched a submarine training initiative in Canada aimed at developing the engineering and technical expertise needed to support the country's plans for a new generation of submarines.Canada's Canadian Patrol Submarine Project is intended to replace the Victoria-class fleet with up to 12 modern submarines, creating a long-term requirement for personnel, industrial capacity and technical expertise to support the vessels throughout their service lives.The in-person course…

Danish contractor Cadeler has completed installation of all 76 wind turbines at the 1.2 GW Baltic Power project, Poland's first offshore wind farm, using its jack-up vessels Wind Osprey and Wind Mover.The completion of the turbine campaign moves Baltic Power into the final stages of preparation for full commissioning and operation after the project delivered first power to Poland's national grid in July 2026.Cadeler installed 76 Vestas V236-15 MW turbines at the Baltic Sea project.

Twelve crew members were injured after an unknown projectile struck Panama-flagged oil tanker On Peace while it was passing through the Strait of Hormuz, India's foreign ministry said on Tuesday.A tanker was attacked on Monday causing a fire in its engine room, the United Kingdom Maritime Trade Operations agency reported without naming the vessel."With the assistance of Omani authorities, the injured crew have since been evacuated and are receiving medical treatment in Khasab, Oman," the foreign ministry said in a statement.Eleven of the 12 injured crew members are Indian nationals, it said, a

Bulgaria has halted its search for the missing crew of a ship that sank after being hit by a drone about 70 nautical miles (130 km) off its coast, Vice-Admiral Rumen Nikolov of the Maritime Administration Executive Agency said on Wednesday.Early on Tuesday, two ships were hit in a drone attack in Bulgaria's Black Sea exclusive economic zone. One sank and the other was damaged. The crew of the damaged ship were rescued, but the crew of the sunken one remain missing.Nikolov said 12 crew members were believed to have been on board the ship which sank, all of them from Syria.

Oil prices climbed on Wednesday as the market weighed supply constraints from a storm heading for US oil-producing regions and attacks by Yemen's Iran-backed Houthis on Saudi Arabia against increased supplies of Middle East crude.Brent futures LCOc1 rose 81 cents, or 0.8%, to $101.39 a barrel by 0635 GMT. US West Texas Intermediate (WTI) crude futures CLc1 gained 61 cents, or 0.7%, to $90.05 a barrel.US forecasters said on Tuesday a storm forming in the Gulf of Mexico would become…

Sumitomo Corporation Global Metals Co., Ltd. (SCGM) and TFI Marine Limited have formed a partnership to introduce innovation into mooring solutions for floating offshore wind and offshore energy projects. The partnership enables and accelerates the deployment of floating offshore wind in Japan and globally, contributing to decarbonization and energy security.Mooring systems are among the principal cost and risk drivers in floating offshore wind. As projects move into deeper water and towards commercial scale…

Solstad Offshore has exercised an option to purchase the construction support vessel (CSV) Normand Maximus for $125 million via its subsidiary, with the acquisition scheduled to be completed in October 2027.Solstad Offshore’s subsidiary Normand Maximus declared the purchase option on October 6, 2026, under a bareboat charter agreement signed with Maximus Shipping in October 2022.The agreement gave Normand Maximus the right to acquire the vessel after five years of chartering, subject to 12 months' advance notice.The bareboat charter will terminate when Maximus Shipping…

MISC has named Th’ailib, the first of three new 174,000-cubic-metre liquefied natural gas (LNG) carriers secured under long-term charter agreements with QatarEnergy, at Samsung Heavy Industries (SHI) in South Korea.Th’ailib will enter a firm 15-year charter with QatarEnergy starting in 2026, with two additional vessels scheduled for delivery as part of MISC's participation in the energy company's LNG fleet expansion programme.The three vessels form part of the second phase of the program.

RINA and Thailand's PTT have signed two memoranda of understanding (MoU) to explore technologies spanning low-carbon fuels, vessel electrification, hydrogen and carbon management across the energy, industrial and maritime sectors.The agreements, signed through the PTT Innovation Institute, establish a framework for research, technical cooperation, knowledge sharing and exchange of expertise between the companies.Areas under consideration include alternative and low-carbon fuels…

Incat Crowther will provide naval architecture and design services to America’s largest shipbuilder HII for ROMULUS unmanned surface vessels (USVs) being built under the U.S. Navy's Medium Unmanned Surface Vessel (MUSV) program.HII has been awarded a U.S. Navy contract to build the vessels, with Incat Crowther supporting the program through its Louisiana-based team as a member of the ROMULUS project team.ROMULUS is a modular family of AI-enabled unmanned surface vessels based on HII's open-architecture Odyssey Advanced Autonomy Solutions and designed to address current and emerging U.S.

Lloyd's Register (LR) has awarded Approval in Principle (AiP) to GasEntec for a floating storage and regasification unit (FSRU) concept capable of delivering up to 1 billion cubic feet of gas per day, placing it among the highest-capacity FSRU designs currently under development.The approval, presented during Gastech 2026 in Bangkok, followed LR's independent assessment of the design's technical and safety fundamentals.The FSRU features a multi-mode regasification system capable of operating in open…

Sanmar Shipyards will build six new tugs for FAIRPLAY Towage Group under a fleet expansion program covering vessels for harbor, escort and offshore operations, with deliveries scheduled throughout 2027 and 2028.The order comprises three Robert Allan-designed vessel classes with bollard pulls ranging from 80 to 120 tonnes. All six will feature IMO Tier III-compliant main engines, Ice Class notation and FiFi 1 firefighting capability.The largest vessel will be a RAmpage 4200 offshore tug with 120 tonnes of bollard pull…

MacGregor has received an order from Nantong Rainbow Offshore & Engineering Equipment to supply motion-compensated cranes and gangways for four additional Skywalker-class commissioning service operation vessels being built for IWS Fleet.The equipment package will include three-dimensional motion-compensated cranes and MacGregor's Horizon gangway systems. The order was booked in MacGregor's fourth-quarter 2026 order intake.The four CSOVs are scheduled for delivery by Nantong Rainbow…

DNV has appointed Océane King as head of its Miami Cruise Center, bringing her back to the classification society after seven years at Royal Caribbean Group, where she worked on maritime technology, fleet innovation and decarbonization.King will lead the center's work with cruise operators and industry partners across technical, environmental and operational areas.The Miami Cruise Center serves as DNV's dedicated hub for the North American cruise market, providing classification…

Veson Nautical has integrated Q88, Q88 Dry, VesselsValue, Shipfix Chartering & Trading and Milbros into its Veson Platform, extending its CoCaptain artificial intelligence (AI) technology across a wider range of commercial maritime workflows.The products join IMOS on a common platform foundation, allowing users to access their existing products through a single login and workspace while retaining their current subscriptions, permissions, configurations and standalone access.CoCaptain…

Meyer Werft has laid the keel for Disney Cruise Line's new Disney Believe, placing a specially minted Tinker Bell coin beneath it as construction of the 144,000-GT cruise ship advances in Papenburg in Germany.The traditional ceremony marked the start of assembly of the vessel's second gigablock. Its first gigablock left Meyer Werft's more than 500-metre-long covered building dock in September and is now at the shipyard's outfitting quay.The coin placed beneath the keel features a portrait of Tinker Bell, who will also adorn the bow of Disney Believe.

Two people have died and 11 crew members have been rescued after the Royad Mammadov cargo ship sank in the Black Sea, Romanian authorities reported, while Ukrainian President Volodymyr Zelenskyy said the vessel had been struck by Russian drones.The incident occurred on October 5 in Romania's exclusive economic zone, about 30 nautical miles south of Sfântu Gheorghe and outside the country's territorial waters, according to Romania's Ministry of Internal Affairs.Zelenskyy said the vessel was carrying corn in neutral waters when it was sunk by Russian drones.

ADNOC Logistics & Services (ADNOC L&S) has ordered three 90,000-cubic-meter Very Large Gas Carriers (VLGCs) for a total investment of $324 million.The three newbuilds are scheduled for delivery in the second half of 2029, ADNOC L&S said.Upon delivery, the VLGCs will be deployed under seven-year contracts with ADNOC Global Trading.The investment is also valued at $324 million (AED 1.19 billion), according to ADNOC L&S.

Shipping bottlenecks, deep cuts in refinery output and inventory draws that could take years to replace will keep global oil prices high beyond this year, industry executives said at a conference in London on Monday.Following the start of the US-Israeli war on Iran at the end of February, Iran effectively closed the Strait of Hormuz, choking exports through one of the world's most crucial shipping bottlenecks.The impact has been compounded by attacks on oil and gas infrastructure…

Ocean Network Express (ONE) and classification society ClassNK have launched a joint research project to measure the effectiveness of roll damping tanks (RDTs) on large container ships under actual operating and sea conditions.ONE will provide onboard measurement data from vessels in its fleet, while ClassNK will combine the data with numerical simulations to quantify the tanks' roll reduction performance.Roll damping tanks reduce a vessel's rolling motion through the controlled movement of liquid within a tank.

SFL Corporation has ordered two 93,000-cubic-metre Very Large Ammonia Carriers (VLACs) for about $216 million and secured long-term time charters for the newbuilds with an unnamed oil major.The vessels are scheduled for delivery from the second quarter of 2028 and will mark SFL's entry into the gas carrier segment.The associated charters will add a minimum of about $162 million to SFL's fixed-rate charter backlog. The initial charter duration will be determined within the next six months…

Seatrium has been awarded the conversion of Karpowership's LNGT Akdeniz into a floating storage and regasification unit (FSRU), marking the ninth FSRU conversion project between the companies.Work on LNGT Akdeniz is scheduled to start in the first quarter of 2027, with Seatrium responsible for engineering, conversion, integration, installation and commissioning of the vessel's regasification equipment and associated systems.The converted vessel will have regasification capacity of up to 600 million standard cubic feet per day and will join the LNG fleet of Kinetics…

Norwegian shipbuilder Vard, part of Fincantieri, has opened a new design and engineering office in Ho Chi Minh City, Vietnam, and plans to grow its workforce there to more than 40 engineers in the coming years.The new Vard Design and Engineering Vietnam center brings together engineers working across structural design, piping and machinery, HVAC, naval architecture, hydrostatics, stability and marine electrical disciplines.The office expands Vard's ship design and engineering capacity in Vietnam and will work as part of the company's international design network…

Reach Subsea has exercised a one-year option to extend the charter for Deep Cygnus subsea vessel from Havila Subsea & Renewables, keeping the vessel in its fleet through March 2028.The original charter, announced in July 2022, covered a four-year period with an option for an additional year. Deep Cygnus has been part of Reach Subsea's fleet since 2023.The vessel is equipped for inspection, maintenance and repair (IMR), survey and light construction work across the offshore energy and renewables sectors.Deep Cygnus is a subsea construction…

The Strait of Hormuz will not reopen until seven Iranian conditions set out in a June interim agreement with the US are met, state media reported Iran's parliament speaker Mohammad Baqer Qalibaf as saying on Sunday.Iran presented a proposal during the UN General Assembly under which the Strait of Hormuz waterway could be reopened and normal maritime passage restored within seven days if the conditions were met, with the US replying to this proposal last week via Qatari intermediaries."The position of the Islamic Republic of Iran is completely clear and firm…

Mitsui O.S.K. Lines' MOL Ocean Bulk has signed a 25-year contract with Vale International to transport iron ore using two 210,000-tonne ore carriers equipped with tri-fuel propulsion systems capable of running on ethanol, methanol and conventional heavy fuel oil.The vessels, described as the world's first ore carriers of their size with the tri-fuel propulsion system, are scheduled for delivery in 2030 and will primarily transport Vale's iron ore from Brazil to destinations worldwide…

DOF Group has received a letter of intent for a contract valued at between $50 million and $100 million that would secure work for one of its I-class vessels in the first half of 2028.The scope includes DOF's in-house project management and engineering, as well as procurement and logistics support services.The company expects the full contract award to be confirmed by mid-November 2026.DOF Group did reveal any additional details regarding the client, vessel or project involved.