Fincantieri Invests in Deep Tech Scale-Up for Naval and Submarine Sector
Fincantieri has formalized its investment in WSense, a deep tech scale-up specialized in underwater monitoring and communication.The transaction involves the subscription of a convertible loan for an initial amount of $2.84 million, with the option to increase the investment by a further $2.84 million.The timescales for the conversion into equity will be contingent upon the occurrence of specific conditions…
Incat Crowther-Designed CTV Ready to Set Sail for Japanese Operator
Japanese operator Tokyo Kisen has taken delivery of the first of two new bespoke crew transfer vessels (CTVs), designed by Incat Crowther, which will be put to service Japan’s growing offshore wind energy sector.Constructed by Cheoy Lee shipyard in China, the first 26.4-meter-long vessel completed sea trials in late 2024.The two ClassNK 26-metre catamaran CTVs have been developed with Tokyo Kisen to comply with strict local regulations.The design of the vessels has been future-proofed…
MHI, SBM to Study Application of CO2 Capture Modules for Petrobras’ FPSOs
Mitsubishi Heavy Industries (MHI) and Single Buoy Moorings, the subsidiary of SBM Offshore, have agreed to conduct a study for the application of CO2 capture modules on future floating production storage and offloading vessels (FPSOs) for Petrobras.This study will be conducted toward typical implementation of CO2 capture solutions for FPSOs.The module design for FPSOs is based on a combination of MHI's…
ErectorCraft Launches First 3D-Printing Boat Hull Firm in US
ErectorCraft has officially launched as the first company in the United States dedicated to the commercial production of 3D-printed boat hulls.Leveraging large-format additive manufacturing (LFAM), ErectorCraft offers a smarter, more adaptive solution to complement and enhance traditional boatbuilding methods.Beyond its flagship 3D-printed hulls, ErectorCraft delivers a range of services designed to…
TotalEnergies Inks 15-Year LNG Supply Deal for Dominican Republic
TotalEnergies has signed an agreement with Energia Natural Dominicana (ENADOM), the joint venture between AES Dominicana and Energas in the Dominican Republic, for the delivery of 400,000 tons of LNG per year.Subject to the finalization of the supply purchase agreements (SPAs), this contract is set to start in mid-2027, for 15 years, with the price indexed to Henry Hub.The agreement will enable ENADOM to supply natural gas to the 470 MW combined-cycle power plant…
Fugro Cuts Jobs and Scales Back US Operations
Dutch geodata firm Fugro on Tuesday said it started reducing its U.S. workforce and scaling back operations there after warning its sales and earnings would miss earlier forecasts because of volatile markets and lack of new U.S offshore wind projects.The company, which provides geotechnical, survey, subsea and geosciences services, said it has already divested assets and cut more than 100 jobs in the United States because of deteriorating market environment…
Aker Arctic to Design Baltic Icebreaker
The Finnish Transport Infrastructure Agency (FTIA) has chosen Aker Arctic to design a Baltic Sea assistance icebreaker as part of the Winter Navigation Motorways of the Sea III (WINMOS III) project co-financed by the European Union.The initial design phase will include the evaluation of different fuel alternatives and machinery configurations suitable for icebreakers. In addition, the use of different…
Watch: Port of Rotterdam Conducts Ammonia Bunkering Pilot
An ammonia bunkering pilot has been undertaken between two vessels at a terminal in the port of Rotterdam.The pilot, conducted on April 12, involved transferring 800 cubic meters of liquid, cold ammonia at -33 degrees Celsius between two ships. This took about 2.5 hours and was conducted alongside a new quay at the Maasvlakte 2 APM terminal.Various parties collaborated on the pilot, facilitated by the Port of Rotterdam Authority.
Chevron-Chartered Vessel to Return Venezuela Oil Cargo
A vessel chartered by Chevron carrying some 500,000 barrels of Venezuelan oil is about to complete the discharge of the cargo at a Venezuelan port, according to shipping data and a source, following state company PDVSA's order to return the crude amid payment uncertainty related to U.S. sanctions.At least nine tankers Chevron had chartered to carry Venezuelan crude to the U.S. in coming weeks as part of the wind down of its U.S.
Hapag-Lloyd AG v Skyros Maritime Corp: Late Redelivery and Lost Opportunities
The English Commercial Court (the “Court”) has provided helpful clarity on the extent of damages available to a claimant shipowner for the late redelivery of a vessel under a time charter where there is evidence that the owner of the vessel would have been unable to enter into a subsequent charter for the vessel. In such circumstances, only nominal damages will be recoverable, as no actual loss has…
ILO’s Maritime Labor Convention: Amendments to Improve Seafarer Working and Living Conditions
The International Chamber of Shipping (ICS) welcomes the series of landmark updates to ILO’s Maritime Labor Convention (MLC), following an intense week of negotiations at the International Labor Organization (ILO) headquarters in Geneva. Under ILO’s Special Tripartite Committee on the MLC, governments, shipowners, and unions met from April 7-11, 2025, to review and adopt crucial updates that reflect…
German Court to Review Seizure of Russian "Shadow Fleet" Tanker
A German court will weigh a request to release a seized oil tanker that is believed to be part of a so-called shadow fleet used by Russia to circumvent oil sanctions…
Swedish Submarine Rescue Ship Takes On Role Investigating Baltic Sea incidents
The Swedish navy’s submarine rescue vessel has taken on an additional role as it has been called on to investigate incidents of damage to undersea infrastructure in the Baltic Sea.The Belos, equipped with sonar, a helipad, divers, undersea vehicles and a positioning system that allows it to stay relatively still even in high seas, provides rescue capabilities to Sweden’s submarine fleet if needed.On a spring day in April…
Greece To Buy 16 Anti-Ship Missiles From France
Greece has signed a deal to buy 16 anti-ship missiles from France, Greek Defence Minister Nikos Dendias said on Monday (April 14).The agreement for the French-built…
Indian Shrimp Industry Faces Trouble After Trump Tariffs
Turbulence stirred by President Donald Trump’s tariffs could disrupt global shrimp shipments to the United States, with exporters in top supplier India warning that up to 2,000 containers of frozen shrimp are at risk.Ecuador, however—located thousands of kilometers closer to the U.S.—faces a lower tariff rate and may benefit from the shift, exporters say. Shrimp is the country’s most valuable export after oil.India’s shrimp sector is bracing for a 26% tariff under Trump’s July plan…
ExxonMobil Drill Offshore Cyprus Fails to Find Gas in Commercial Amounts
An exploration drill by ExxonMobil offshore Cyprus has failed to find commercial quantities of natural gas, the island's energy ministry said on Monday.Drilling operations had been completed at the Elektra-1 well in Block 5 of the exclusive economic zone (EEZ) of Cyprus, it said."Well data and preliminary evaluation work indicate the presence of natural gas in non-commercial quantities," the Ministry of Energy, Commerce and Industry said.ExxonMobil executives had previously described the prospec
Crowley’s New LNG-Powered Quetzal Begins Maiden Commercial Voyage
Crowley’s new LNG-powered containership Quetzal has successfully begun its inaugural commercial voyage, opening the company’s next era of faster, frequent ocean shipping with a new class of vessels for the U.S., Central America and the Dominican Republic.With capacity for up to 1,400 20-foot container equivalent units (TEUs), Quetzal and its three forthcoming sister Avance Class ships will provide more cargo capacity while using lower-emissions liquefied natural gas (LNG) for fuel.
Singapore March Marine Fuel Sales Recover After February Low
Marine fuel sales in Singapore, the world's largest bunker hub, improved in March after hitting a 20-month low in February, official data showed on Monday. Volumes totalled 4.47 million metric tons, climbing 7.8% month-on-month and inching up 0.5% year on year, data from Maritime and Port Authority of Singapore (MPA) showed.Sales improved amid a recovery in vessel calls and container throughput, as well as aggressive selling of low-sulphur marine fuel.
Spanish Coast Guard Rescues 50 Migrants off Canary Islands
Spain's coast guard rescued on Sunday (April 13) 50 migrants trying to reach the Canary Islands on an inflatable boat, the Spanish Red Cross said.The migrants, which included 45 men, four women and one minor, were taken to El Rosario port on Fuerteventura island.The boat was located 90 miles (144 kilometres) off the island of Lanzarote.
Italian Billionaire Emerges as Lead Investor for Group Seeking to Buy CK Hutchison Ports
Italian billionaire Gianluigi Aponte's family-run business is emerging as the lead investor of a group seeking to buy 43 ports from conglomerate CK Hutchison, Bloomberg News reported on Monday, citing people familiar with the matter.The Aponte family's Terminal Investment Ltd (TIL), which manages a diverse portfolio of container terminals according to its website, will be the sole owner of all the ports once the deal is completed…
