Us News

About 2 million barrels of Venezuelan heavy crude are being sent to refineries owned by oil producer Repsol in Spain, following purchases the company negotiated with trading house Trafigura, according to shipping schedules seen by Reuters.Trafigura and Vitol were granted U.S. licenses last month to export millions of barrels of Venezuelan oil to the U.S. and other destinations, following the U.S. capture of President Nicolas Maduro. The companies have since been storing the oil in Caribbean terminals and marketing cargoes to refiners in the U.S.

Huntington Ingalls said on Thursday that it had expected free cash flow for the current quarter to be negative, despite beating quarterly profit estimates, sending its shares down 11% at midday.CEO Chris Kastner said on a post-earnings call that the negative cash flow represented use of about $600 million, "as some of the fourth-quarter working capital benefit unwinds".Rising global tensions are driving up demand for Huntington Ingalls' nuclear-powered Columbia-class submarines, and the company is also positioned to benefit from U.S.

The captain of a container ship that crashed into a U.S. tanker off Britain's east coast last year was jailed for six years on Thursday for causing the death of a crew member through gross negligence.Russian national Vladimir Motin, 59, was captain of the Portuguese-flagged Solong when it hit the Stena Immaculate tanker, which was anchored and carrying just over 220,000 barrels of high-grade aviation fuel, on March 10, 2025.The collision started a blaze on both ships and caused the death of Philippines national and Solong crew member Mark Pernia…

An oil tanker that has transported Venezuelan fuel to Cuba since April last year finished loading this week a 150,000-barrel cargo of gasoline, a shipping schedule seen by Reuters shows, a possible sign that the OPEC country could be preparing to send supplies to the island under U.S. supervision.As of Thursday, it was not clear yet if the vessel had left Venezuela as it was last spotted by monitoring service TankerTrackers.com in Venezuelan waters on Monday. Reuters could not confirm the tanker's ultimate destination. Any tanker now leaving Venezuelan waters can only do so with U.S.

Kuwait Oil Company is in talks with some U.S. firms including Devon Energy and EOG on potential cooperation to develop its shale oil and gas resources, its CEO said on Thursday.KOC is "engaging with some U.S. operators to explore how their expertise can support the development of Kuwait’s shale oil and shale gas resources", Ahmad Al-Eidan said on the sidelines of the Kuwait Oil & Gas Show.This would be the first time Kuwait has sought to develop its shale oil and shale gas resources…

NYK Line, in partnership with Ocean Yield AS, has signed multiple long-term charter contracts for new liquefied natural gas (LNG) carriers with Cheniere Marketing International LLP, a wholly owned subsidiary of Cheniere Energy, Inc., a US LNG producer.The vessels will be built at HD Hyundai Heavy Industries Co. Ltd. in South Korea and will be delivered from 2028.The vessels will be equipped with a next-generation X-DF2.1 iCER*, VCR system**, dual-fuel, low-speed diesel engine that uses fuel oil and boil-off gas (LNG vaporized in the cargo tanks during navigation) for the main engine…

Last month, the Saronic team completed a continuous, week-long, day and night test operation designed to push the limits of Corsair, their 24-foot Autonomous Surface Vessel currently under contract with the U.S. Navy.Conducted and funded by the company as part of ongoing independent research and development efforts, this exercise ran 24/7 with the goal of accomplishing two things:Deeply understand how our vessels perform at — and beyond — their operating limits in real-world environments…

Swan Defence and Heavy Industries Limited (SDHI), India’s largest shipbuilding and heavy fabrication company, won a defense export order from the Government of Sultanate of Oman to supply a state-of-the-art training ship. The vessel that will support the Royal Navy of Oman’s (RNO) advanced naval training and maritime operations, is expected to be delivered within 18 months.Measuring 104.25 x 13.88m and displacement of up to 3500T, the training vessel will be equipped with modern classrooms, training offices and accommodation facilities.

Maybe it is a human trait, or maybe a Washington, D.C. trait, but when confronted with a difficult problem with unpalatable solutions, there is usually an impulse to delay the moment of difficult decision by ordering a study. The U.S. merchant marine industry is the poster child for this behavior. The industry has been studied and studied, and is currently being studied, but studies don’t build ships -- shipyards build ships.Going back to the Lynch Committee in 1870, the U.S. government has regularly produced studies on how to revive the U.S. merchant marine.

Hong Kong's CK Hutchison said on Wednesday its Panama Ports Company unit has started international arbitration proceedings against Panama after the country's top court annulled its licences to operate two Panama Canal ports, in a case that could take years to resolve.Panama's Supreme Court last week ruled the contracts violated Panama's constitution by giving the company exclusive privileges and tax exemptions.It is unclear how long the arbitration proceedings could take, although given the political sensitivities involving the U.S.

Oil prices steadied on Wednesday after rising earlier in the session after the U.S. shot down an Iranian drone and armed Iranian boats approached a U.S.-flagged vessel, rekindling fears of an escalation in tensions ahead of planned talks.But a broader selloff of software equities, which often move in tandem with oil prices, capped gains.Brent crude oil futures were up around 0.1% at $67.38 a barrel by 1423 GMT. U.S. West Texas Intermediate crude was down 2 cents at $63.19.Both…

The Bureau of Ocean Energy Management, today announced another major step toward expanding offshore energy development pursuant to the One Big Beautiful Bill Act. BOEM released the Final Notice of Sale for Lease Sale Big Beautiful Gulf 2 (BBG2), the second of 30 Gulf of America lease sales required by the One Big Beautiful Bill Act (Public Law No: 119-21). BOEM will again invite lease sale bidders to attend the live bid reading, per BOEM instructions, on March 11, 2026, starting at 9 a.m. Central Time.

The Port of Virginia is continuing to modernize and expand its operations and recently debuted additional capacity to safely handle simultaneous calls of ultra-large container vessels (ULCVs).In late January, the port put four new, all-electric, Suez-class ship-to-shore container cranes into service at Norfolk International Terminals (NIT). With the expanded crane fleet at NIT, the port now has the capacity to accommodate four ULCVs at once. Today, the port has 29 ship-to-shore…

The American Great Lakes Ports Association (AGLPA), including members Ports of Indiana, the Illinois International Port District (IIPD), and Port Milwaukee, in partnership with the Great Lakes St. Lawrence Seaway Development Corporation (GLS), announced today that they will begin a comprehensive market analysis aimed at expanding cargo movement between the Great Lakes and Inland Waterways system.Together, the Great Lakes and Inland Waterways move close to 700 million tons of cargo each year…

The U.S. Transportation Department on Tuesday approved a license for oil transportation and storage company Sentinel Midstream's planned deepwater oil export project off the Texas coast.Transportation Secretary Sean Duffy said in a statement to Reuters the Texas GulfLink project is part of the Trump administration's effort to boost the U.S. oil industry and production and allow for the export of up to 1 million barrels of crude oil per day. The Texas GulfLink deepwater port will be located approximately 26.6 nautical miles off the coast of Brazoria County…

Tim Mooney is the third-generation family member at the helm of the iconic Fire Island Ferries. While the company’s primary focus has been moving people to and fro, from the Long Island, NY mainland to the Fire Island barrier communities and beaches, the business has evolved and grown since its start in 1948 via acquisition and organic growth. Mooney discuss the assets, the people and the priorities to safely, efficiently keep his cumulative operation of moving about one million people annually in good order.There are ferry operators…

Financial support from federal and state agencies helped Gladding-Hearn Shipbuilding, Duclos Corporation, in undertaking capital projects that have made its shipyard operations more efficient and safer.With a Small Shipyard Grant from the U.S. Maritime Administration (MARAD), the yard replaced heavy bi-fold doors on its 12,000 square foot Walker St. facility. It took two cranes and as many as six employees to open the doors, explained Peter Duclos, shipyard co-president and director of business development.

A group of Iranian gunboats approached a U.S.-flagged tanker in the Strait of Hormuz north of Oman, maritime sources and a security consultancy said on Tuesday.The Iranian boats ordered the tanker, the Stena Imperative, to stop its engine and prepare to be boarded before it could speed up and continue its voyage, maritime risk management group Vanguard said.The vessel did not enter Iranian internal territorial waters and was escorted by a U.S. warship, the maritime risk management group said. An American official confirmed it was U.S.

Seatrium has completed divested its AmFELS Yard located at Brownsville in Texas to Karpower Valley, a related party of Karpowership.The divestment, first announced in September 2025 and completed on January 30, 2026, will allow Seatrium to enhance capital and operational efficiencies, while unlocking value from one of its surplus facilities, the company said at the time.All projects carried out at the AmFELS yard have been completed and delivered prior to completion the asset sale…

"In 2025, India’s oil imports from Russia made up 33% of the country’s total seaborne oil imports and 25% of Russia’s seaborne oil exports. A new trade agreement between the US and India could, according to US President Donald Trump, put an end to that trade,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.On Monday, President Trump announced that a new trade agreement between the US and India would lead to mutual tariff reductions. US tariffs on Indian goods would fall from 50% to 18% and Indian tariffs on US goods could fall to zero.

Maersk has taken delivery of Tangier Mærsk, the first vessel in a new series of six mid‑size vessels.The delivery took place at Yangzijiang Shipbuilding Group’s yard in Jingjiang, China, where the vessel was named Tangier Mærsk.The six vessels in this new series have a capacity of 9,000 TEU each and are equipped with a dual fuel engine able to operate on methanol.On its maiden voyage, Tangier Mærsk will call Shanghai and enter deployment on Maersk’s TP15 service, which connects…

January 2026 joins the pages of history as being part of the ongoing misery for the global ship recycling world, but there were noteworthy surges to report this week, saysreports cash buyer GMS.“Across the board, for most of the major fundamentals, except sub-continent steel plate prices that have become the perennial party poopers of the recycling world of late, the momentum was definitely beyond noticeable,” says GMS. “The Baltic Exchange Dry Index, oil futures, and the U.S. Dollar collectively soared this week, creating ripples that would certainly be felt within the next four weeks.

Trident Maritime Systems, a major supplier to the U.S. Navy, has partnered with Gecko Robotics to deploy advanced manufacturing technologies that expand production of the fleet’s essential components.Across 20 fabrication facilities responsible for mission-critical parts to fully integrated shipboard systems, AI and robotics will increase throughput by at least 40% in support of the Navy’s growing shipbuilding and sustainment demands.Gecko and Trident will bring new digital and robotic capabilities to increase capacity within legacy manufacturing environments…