Offshore News

SAAM has completed the acquisition of the remaining 30% stake in Intertug's operations in Colombia and Mexico, giving the company full ownership of the subsidiaries.The transaction, valued at $30.5 million, was completed after the required regulatory approvals were obtained and other closing conditions were satisfied.The acquisition follows SAAM's initial purchase of a 70% stake in Intertug in 2021, which marked the company's entry into the Colombian market and complemented its operations in Mexico.“This is a key step in our growth strategy for 2030.

Ofiniti has acquired maritime intelligence company Teqplay, expanding its maritime fuel operations platform with vessel tracking, port-call analytics and operational intelligence capabilities.The acquisition broadens Ofiniti's offering beyond scheduling, operational coordination and digital documentation into real-time operational intelligence, providing customers with a combined view of vessel movements and fuel delivery operations.Ofiniti said its platform processed more than 25,000 bunker operations in 2025, including 500,000 metric tonnes of alternative fuels.

Dutch maritime design firm Vuyk Engineering has been selected by heavy-lift shipping and offshore transportation contractor Jumbo Maritime to design its newly ordered L-Class heavy-lift transport vessels.The two vessels are designed to support offshore transport and lifting operations, combining cargo transportation capabilities with lifting capacities of up to 2,400 tonnes.The L-Class vessels are intended to transport a range of heavy cargoes, including wind turbine components, modules and carousels.

DEME, through its Japanese joint venture Japan Offshore Marine (JOM), has secured a contract for the Oga–Katagami–Akita Offshore Wind Project, covering engineering work and vessel charter services for the offshore installation of 21 wind turbines.The contract forms part of an agreement between Oga Katagami Akita Offshore Green Energy and Penta-Ocean Construction.JOM will install 21 Vestas V236-15 MW turbines, marking the first deployment of 15 MW-class wind turbines in Japan and the first application of turbines of this size outside Europe…

Cheniere Energy Partners has signed a lump-sum turnkey engineering, procurement and construction (EPC) contract with Bechtel Energy for the first phase of the Sabine Pass LNG Expansion Project in Louisiana and issued a limited notice to proceed allowing early engineering and procurement work to begin.The agreement covers Phase 1 of the expansion project, including Train 7, a boil-off gas re-liquefaction unit and supporting infrastructure connected to the existing Sabine Pass LNG terminal.Phase 1 is expected to have LNG production capacity of more than 6 million tonnes per annum (mtpa)…

Japanese trading house Mitsui is looking to invest in LNG projects across the Middle East, the U.S.

Oil futures fell more than 1% on Friday and were on track for their steepest weekly decline since early April, following reports that the U.S. and Iran had reached a potential deal to extend a ceasefire.Brent crude futures for July LCOc1 fell 1.32% or $1.24 to $92.47 a barrel at 0656 GMT. U.S. oil futures CLc1 fell $1.38, or 1.55%, to $87.52 a barrel.Brent has plunged 10.5% this week - the steepest fall since the week that ended on April 6, while WTI has dropped 9.2% - the biggest weekly loss since the week that ended on April 13.Ceasefire AgreementThe U.S.

Seatrium has received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its NEXTGEN Energy Hub offshore concept.The NEXTGEN Energy Hub is designed to integrate ammonia storage and bunkering, power generation and marine electric vessel charging within a single offshore platform.Seatrium said the concept is intended to support the maritime energy transition by combining infrastructure for cleaner marine fuels, offshore power generation and charging capabilities for electric vessels.The concept is based on Seatrium’s proprietary GraviBED platform…

Oil prices jumped more than 2% on Thursday after Iran's Revolutionary Guards said they targeted a U.S. airbase in response to a U.S. attack in the port city of Bandar Abbas.Brent crude futures LCOc1 rose $2.34, or 2.48%, to $96.63 a barrel by 0701 GMT, while the more active August contract LCOc2 gained $2.24 or 2.43%, to $94.49. The July contract is set to expire on Friday.U.S. West Texas Intermediate futures CLc1 were up $2.26, or 2.55%, at $90.94.Both benchmarks slipped more…

Two supertankers and one liquefied natural gas (LNG) tanker exited the Strait of Hormuz earlier this week with their transponders switched off, and are heading for India and China, shipping data from LSEG and Kpler showed.The vessels joined a number of tankers leaving the Gulf this month, although oil and LNG traffic overall has still been limited.The Very Large Crude Carrier (VLCC) Eagle Veracruz, carrying 2 million barrels of crude loaded from Saudi Arabia in late February, is heading to Quanzhou port in the southeastern Chinese province of Fujian.

The MISC Group revenue of RM2,891.4 million ($729 million) was 2.7% higher than the revenue for the period ended March 31, 2025.The increase was mainly due to higher revenue from the company’s Petroleum and Product Shipping segment, primarily driven by higher freight rates and earning days, and higher revenue from Marine and Heavy Engineering segment, primarily from the ongoing projects advancing into higher construction phases partially offset by lower revenue from post sail-away projects.The increase in Group’s revenue was…

Strategic Marine and Mainprize Offshore have signed a Protocol of Delivery and Acceptance (PODA) for the MO15 and MO16 crew transfer vessels (CTVs), extending a multi-vessel offshore renewables vessel program announced in 2024.The agreement follows the earlier delivery of the MO10, MO11, MO12 and MO14 Supa Swath vessels.The new vessels are intended to support offshore wind operations and maintenance activities in Europe as Mainprize Offshore continues expanding its fleet.The vessels…

ABL has been hired to support Esso Australia Resources as preparations advance for what the company described as Australia’s largest offshore decommissioning campaign in the Bass Strait.The Gippsland Decommissioning Campaign #1 Project is expected to involve removal of up to 13 offshore platforms beginning in 2027 using Allseas’ Pioneering Spirit vessel.Esso, a subsidiary of ExxonMobil, operates the Bass Strait assets as part of the Gippsland Basin Joint Venture. The infrastructure includes around 400 wells…

Dajin Heavy Industry, via its subsidiary Tangshan Dajin Offshore Engineering, has signed a contract with a Dutch shipowner Jumbo Maritime to build two next-generation multi-purpose heavy-lift vessels.The contract is valued at approximately $156 million and covers the design, construction and delivery of two 25,000-deadweight-tonne vessels scheduled for phased delivery in 2028 and 2029.Each vessel will measure about 163 meters in length with a beam of around 30 meters and depth of approximately 16 meters.The ships will be equipped with two heavy-lift cranes rated at 1…

Australia's Santos will prioritise LNG and oil growth in three core regions, including Alaska and Papua New Guinea, under a new strategy that also includes reducing net debt by $2.5 billion by 2030."We are now laser-focused on investment in major oil and LNG production across three regions," CEO Kevin Gallagher said while speaking at the company's 2026 Investor Briefing Day on Tuesday.The country's No.2 oil and gas producer will leverage existing infrastructure on Tier-1 basins in the three regions…

Brent crude futures rose more than 2% on Tuesday after the U.S. military carried out strikes in Iran, keeping markets on edge as a deal to end the war and open up the Strait of Hormuz remained elusive.Brent futures LCOc1 were up $2.36, or 2.5%, to $98.50 a barrel as of 0630 GMT, after settling 7% lower in the previous session.U.S. West Texas Intermediate crude CLc1 was at $91.95 a barrel, up slightly from Monday's last traded price but down $4.65, or 4.8%, from Friday's close. There was no settlement on Monday due to the U.S.

French engineering firm GTT has an order from the shipyard Hanwha Ocean for the tank design of a new liquefied natural gas (LNG) carrier, on behalf of a European ship-owner.GTT will design the cryogenic tanks of the vessel, offering a total capacity of 174,000 m3.The tanks will be fitted with the NO96 Super+ membrane containment system, a technology developed by GTT.Delivery of the vessel is scheduled for the second quarter 2029.

QatarEnergy has signed a memorandum of understanding (MoU) with the Egyptian government and ExxonMobil to study the potential development and commercialization of gas discoveries in Cyprus through Egypt’s existing gas and LNG export infrastructure.The agreement will allow the parties to study future growth opportunities and commercial frameworks linked to Egypt’s gas infrastructure and its role as a regional energy hub in the Eastern Mediterranean.The companies said the cooperation…

Energy services firm EnerMech has signed a multi-year global collaboration agreement with Norway-based technology company Optilift to expand technology-enabled crane and lifting operations across the offshore energy sector.The agreement combines Optilift’s digital lifting technologies and smart sensor systems with EnerMech’s global lifting services and offshore support network spanning 26 locations worldwide.The partnership will allow EnerMech to offer technology-enhanced crane and cargo handling services across offshore and onshore energy projects…

Mitsui O.S.K. Lines (MOL) has signed its first annual contract for liquefied natural gas (LNG) bunkering for car carriers at the Port of Vancouver, expanding LNG fuel supply arrangements for its growing fleet of LNG-fueled vessels operating on North American trade routes.The agreement with Canada-based Seaspan Energy follows MOL’s first LNG bunkering operation on the west coast of North America in March 2025, which the company said marked the first such operation by a Japanese…

French engineering firm GTT has been selected by HD Korea Shipbuilding & Offshore Engineering (HD KSOE), on behalf of the ship-owner BW LNG, for the tank design of the world’s first large-scale LNG carriers featuring a three-cargo-tank configuration.This new design will equip four new buildings - two vessels already ordered in November 2025 and two additional vessels ordered in May 2026.The four LNG carriers will be fitted with the GTT Mark III Flex membrane containment system…

Oil prices edged higher on Thursday, as investors monitored peace talks between the United States and Iran, while supply tightness and U.S. inventory drawdowns provided some support.Brent crude futures LCOc1 rose 40 cents, or 0.4%, to $105.42 a barrel by 0809 GMT, and U.S. West Texas Intermediate futures CLc1 were up 50 cents, or 0.5%, at $98.76.Both benchmarks dropped around 5.6% on Wednesday to their lowest in more than a week after President Donald Trump said talks with Iran…

Equinor has exercised remaining options to extend the contract for the platform supply vessel (PSV) Viking Avant from Norwegian vessel owner Eidesvik Offshore.The extension runs in direct continuation of the current contract and extends the firm charter period through the end of 2026.Viking Avant PSV was built in 2004, and has a deadweight capacity of 5,784 tonnes and a deck area of 1,010 square meters.The vessel is 92.17 meters long with a beam of 20.4 meters.

INTERCARGO has published the first dedicated ship-to-ship (STS) transfer guidelines for dry bulk carriers, as such operations expand into new trading regions and offshore locations with limited port infrastructure.The ‘Ship to Ship Transfer Guidelines for Bulk Carriers’ establishes a framework for dry bulk STS operations, covering planning, risk assessment, maneuvering, fendering, cargo handling and emergency response procedures.STS transfers are increasingly used in dry bulk shipping where ports cannot accommodate vessel size…

Bernhard Schulte has christened its first liquefied CO2 (LCO2) carrier, marking the company’s entry into the carbon capture and storage (CCS)-related shipping segment.The vessel, named Northern Purpose, was christened on May 19 at Dalian Shipbuilding Offshore (DSOC) in China and will support the Northern Lights CCS project, a cross-border CO2 transport and storage development in Norway.Following delivery, the vessel will enter a long-term time charter transporting captured CO2…

PALFINGER has secured a contract to supply davit cranes for five offshore converter platforms in the North Sea, expanding its presence in the offshore wind market as Europe accelerates grid infrastructure development tied to renewable energy projects.The Austrian company said it would deliver seven PF200-7m davit cranes to Spanish engineering contractor Dragados Offshore for high-voltage direct current (HVDC) converter platforms linked to projects for German transmission system operators Amprion and TenneT Germany.Under the agreement…

Cadeler has reported higher first-quarter revenue and earnings, supported by expanded offshore wind installation activity following growth in its operating fleet.The Danish offshore wind vessel operator posted revenue $145.2 million (€125 million) for the first quarter of 2026, up from $75.5 million (€65 million) in the same period last year, while EBITDA rose to $54 million (€47 million) from $27.9 million (€24 million).Fleet utilization across Cadeler’s 10 operating vessels was 47.6% during the quarter…

Britain will allow imports of diesel and jet fuel refined abroad from Russian crude under a sanctions carve-out, watering down restrictions to help ensure supply at home as prices soar due to the conflict in the Middle East.While Britain's support for Ukraine remains steadfast, junior treasury minister Dan Tomlinson said, he added that the national interest had to come first and therefore a loosening of certain sanctions on some Russian products for now made sense."We have to make sure that we protect the security of supply for really important foundational goods in our economy…

Seatrium Limited announced a new contribution of about USD$1.33 million (S$1.7 million) to enhance the Seatrium Professorship at the National University of Singapore College of Design and Engineering (“NUS CDE”). This reinforces a partnership with NUS CDE to advance innovation and collaboration in energy transition and sustainable offshore technologies, including ocean renewable energy.With current and past contributions in addition to government matching grants, the total contribution will exceed USD$3.9 million (S$5 million).

Seatrium Limited announced a new contribution of about USD$1.33 million (S$1.7 million) to enhance the Seatrium Professorship at the National University of Singapore College of Design and Engineering (“NUS CDE”). This reinforces a partnership with NUS CDE to advance innovation and collaboration in energy transition and sustainable offshore technologies, including ocean renewable energy.With current and past contributions in addition to government matching grants, the total contribution will exceed USD$3.9 million (S$5 million). This ensures the sustainability of the Professorship’s impact and underscores Seatrium’s commitment to advancing the industry’s engineering capabilities…

Aqua superPower and Tidal Transit have formed a strategic partnership to support the deployment of electric crew transfer vessels (E-CTVs) for ports and harbors serving offshore infrastructure, including offshore wind projects.Under the agreement, Tidal Transit will build and operate E-CTV vessels and manage offshore charging infrastructure installation, while Aqua superPower will design, build, operate and maintain shore-side charging systems at vessel origin ports.The collaboration aims to simplify deployment of electric vessel operations by combining vessel capability…

Crane specialist Liebherr has completed an extensive inspection and refurbishment of a BOS 35000 offshore crane aboard ZITON’s jack-up vessel Wind Enterprise during a 10-day service campaign in Denmark.The board offshore crane was installed on a 16-meter pedestal and will support offshore wind operations across Northern Europe, according to Liebherr.The company said the project, carried out at the Port of Esbjerg, included replacement of the complete power pack, hydraulic elements…

A consortium led by Stillstrom by Maersk has secured $5.8 million (€5 million) in funding from the European Union’s Horizon Europe program to develop and test offshore charging infrastructure for vessels at anchor in Denmark.The three-year SPARK project will deploy a pilot Offshore Power Zone in Skagen, one of Northern Europe’s busiest anchorage hubs, targeting greenhouse gas emissions from ships running engines while stationary between operations.Stillstrom said the consortium includes Aalborg University…

Technology group Wärtsilä has signed a long-term Lifecycle Agreement contract with Finnish Border Guard.The 10-year agreement extends existing coverage of ‘Turva’ vessel and will also cover two new vessels, ‘Karhu’ and ‘MT1407’, which are scheduled to join the fleet in 2026 and 2027. The Baltic Sea is one of the busiest marine areas in the world, demanding the Finnish Border Guard to always be ready.It is critical that the vessels are operating reliably and efficiently, so that the Border Guard can safeguard the nation’s borders and respond effectively to any situation.

TDI-Brooks’ multi-use oceanographic research vessel Miss Emma McCall has completed its full-term ABS shipyard period and is heading to the Caribbean region following a reflagging process.The company said it is reflagging the vessel from the United States to Vanuatu to support cost-effective operations in the Caribbean and northern South America region.The vessel is currently transiting to Roatan, Honduras, to complete the reflagging exercise before moving to the Pacific for a geotechnical project off the west coast of Honduras…

Sweden will order four navy frigates from France's Naval Group in a $4 billion deal that will triple its air defence capacity as the new NATO member focuses on security threats in the Baltic Sea, its prime minister said on Tuesday.Sweden is racing to build up its military in the wake of Russia's invasion of Ukraine and the Nordic country's subsequent accession to NATO, with the new frigates representing a significant expansion of maritime defence capabilities.The purchase of the French Defence and Intervention (FDI) frigate model will be Sweden's biggest military investment since the 1980s…

Belgian tanker company CMB.Tech said on Tuesday its core profit more than tripled in the first quarter, as the closure of the Strait of Hormuz curtailed available shipping tonnage, driving a sharp spike in spot freight rates.Shares of the large, diversified maritime company with a fleet of about 250 ships rose more than 5% in early Brussels trading.

Glenfarne Alaska LNG and ConocoPhillips Alaska have signed a gas sales precedent agreement to supply natural gas from Alaska’s North Slope for Phase One of the Alaska LNG project.The 30-year agreement will secure sufficient natural gas volumes to support a final investment decision for Phase One and meet Alaska’s domestic energy needs, according to Glenfarne.Glenfarne is developing the Alaska LNG project in two financially independent phases. Phase One includes a 739-mile, 42-inch pipeline designed to transport natural gas to Alaska consumers…

Oil fell by nearly 2% on Tuesday after U.S. President Donald Trump said he had paused a planned attack on Iran to allow for negotiations to end the war in the Middle East.Trump posted on social media on Monday that he was holding off on a planned military attack on Iran scheduled for Tuesday, while efforts continue to reach a deal, adding that the United States was ready to resume attacking if one is not reached.Brent futures LCOc1 for July were down $2.02, or 1.8%, to $110.08 a barrel at 0802 GMT, while U.S.

The chief executive of NextEra Energy said on Monday that his company felt good about Dominion's investment in offshore wind, a technology he has disparaged in the past.CEO John Ketchum made the remarks on a call with investors to discuss NextEra's $66.8 billion bid for Dominion, which is building a more than $11 billion offshore wind project off the coast of Virginia."As we look at it, we feel very good about it," Ketchum said, noting that the facility is already sending power…

ABB has secured a contract from Spanish shipbuilder Navantia to supply power distribution and propulsion systems for two new coastal hydrographic vessels being built for the Spanish Navy.The vessels, scheduled for delivery by 2028, will be equipped with ABB’s Onboard DC Grid power system, PEMS power and energy management system, transformers, thruster motors and batteries.The systems are designed to improve energy efficiency, operational flexibility and reliability while reducing fuel consumption and emissions.ABB will also oversee engineering…

U.S. autonomous vessel developer Saronic has entered a strategic partnership with Lloyd’s Register (LR) to support the safe deployment of autonomous maritime systems in the United Kingdom, Europe and Australia.The companies said the collaboration would focus on advancing technical standards, regulatory guidance and classification pathways for autonomous surface vessels.Saronic said it would pursue classification activities for its autonomous vessels with LR as part of the agreement.

Norwegian shipbuilder Ulstein Verft has delivered Nexans Electra, a DP3 cable‑laying vessel (CLV), to Nexans, strengthening its capacity to install advanced subsea power and communication cable systems.The CLV Nexans Electra is a sister vessel to the CLV Nexans Aurora, which was delivered from Ulstein Verft in 2021, and incorporates enhanced capacity and updated arrangements.The vessel features an additional under-deck turntable with a 3,500-tonne cable capacity, a split turntable on deck holding up to 10…

Dutch offshore services provider Boskalis has decided to invest in a new high-capacity cable laying vessel (CLV) to support growing demand in the offshore wind and interconnector markets.The vessel, expected to enter service in 2029, will target long-distance cable installation projects, particularly for high-voltage direct current cables.Boskalis said the CLV will feature two 12,000-ton cable carousels, including a concentric carousel, enabling installation of longer continuous…

Russian drones hit two ships in the Black Sea approaching ports in Ukraine's Odesa region on Monday, including a Chinese-owned cargo vessel, Ukrainian authorities said, after a night of Russian attacks on the area.Ukraine's seaports authority said that the strikes had hit two civilian vessels, one under Marshall Islands flag and another under Guinea-Bissau flag, both of which were heading to ports in the region.The Ukrainian navy reported a strike on the Ksl Deyang, which it described as a Chinese-owned cargo ship sailed by Chinese crew under Marshall Islands flag.

Norway said on Monday it has joined the European Union's Strategy for the Baltic Sea Region (EUSBSR), which aims to coordinate work around common challenges, including security aspects.Norway, a non-EU country, will join existing members Sweden, Denmark, Estonia, Finland, Germany, Latvia, Lithuania and Poland in the EUSBSR."Membership will strengthen Norway's cooperation with the EU in a region that has become central to European and Norwegian security," said Norwegian Minister of Foreign Affairs Espen Barth Eide.The Baltic Sea region has been on high alert after a string of power cable, telec

Oil prices extended gains on Monday as efforts to end the Iran war appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as U.S. President Donald Trump is expected to discuss military options on Iran.Brent crude futures LCOc1 climbed $1.65, or 1.51%, to $110.91 a barrel by 0703 GMT, but were off the $112 they had touched earlier for their highest since May 5.U.S. West Texas Intermediate crude CLc1 stood at $107.42 a barrel, up $2, or 1.9%, after a rise to $108.70, its highest since April 30.

The U.S.-Israeli war with Iran has already cost companies around the world at least $25 billion - and the bill is climbing, according to a Reuters analysis.A review of corporate statements since the start of the conflict by companies listed in the United States, Europe and Asia offers a sobering look at the fallout. Businesses are grappling with soaring energy prices, fractured supply chains and trade routes severed by Iran's chokehold on the Strait of Hormuz.At least 279 companies have cited the war as a trigger for defensive actions to blunt the financial hit…

Solstad Offshore has informed the arbitration proceedings related to disputed 2024 charter hire for Normand Maximus construction support vessel (CSV) had concluded in favor of the company.The company said it would receive approximately $13 million in charter hire, in addition to around $1.5 million in interest compensation, following the ruling.Solstad said the decision would have a positive liquidity effect of about $14.5 million and that it expects to recognize a positive profit…

Caturus has taken a final investment decision on its Commonwealth LNG export project in Louisiana after securing $9.75 billion in project financing for the 9.5 million tonnes per annum facility, with partners Mubadala Energy, Kimmeridge and CPP Investments.The companies said the financing supports construction of the LNG export terminal in Cameron Parish, Louisiana, with total commitments for the project reaching $21.25 billion.The Commonwealth LNG project is expected to begin…

The substructures for fixed offshore wind turbines weigh thousands of tonnes. Only about five vessels in the world can lift that much weight. So now researchers are testing an alternative: an unusually wide barge.Using experience gained from the oil and gas industry, Aker Solutions, the Belgian contractor Sarens, and the maritime group BOA recently spent time at SINTEF’s Ocean Basin in Trondheim. There they used models to test the feasibility of employing an extra-wide barge to transport several substructures simultaneously.

Spanish wind propulsion company bound4blue has signed a partnership agreement with LNG consultancy provider Cryosafe Services to support the application of its eSAIL wind propulsion technology on LNG carriers.The companies said they would collaborate on evaluating eSAIL integration and configuration options for LNG vessels, including operational factors such as vessel air draft, cargo operations, gangway entry and mooring line arrangements to ensure compliance with LNG terminals…

Taihan Cable & Solution has acquired a second cable laying vessel (CLV) from DOF Group to strengthen its offshore wind and subsea power cable installation capabilities amid growing global demand for grid interconnection infrastructure.The South Korean company signed a vessel sale and purchase agreement with DOF for the 10,000-ton-class cable-laying vessel Skandi Connector, which is scheduled for delivery to Korea in August.The vessel joins Taihan’s existing offshore wind-dedicated cable-laying vessel PALOS…

Cadeler has completed the installation of the first fully commissioned monopile foundation at Ørsted’s Hornsea 3 offshore wind farm in the UK, marking a major milestone in the execution of one of the world’s largest offshore wind developments.The installation is the first of 197 monopile foundations Cadeler will transport and install as part of the company’s full transportation and installation (T&I) scope for the project.Once completed, Hornsea 3 will become the single largest offshore wind farm in the world…

A Panama-flagged crude oil tanker managed by Japanese refining group Eneos has passed through the Strait of Hormuz, ship-tracking data from LSEG showed on Thursday, the second instance of such a Japan-linked oil ship making it through.Prime Minister Sanae Takaichi has directly contacted Iranian President Masoud Pezeshkian to allow for the transit of the ship, which has four Japanese crew members onboard, she said in a post on X.Before the U.S.-Israeli war on Iran largely disrupted oil supplies via the Strait of Hormuz…

Oil prices edged up on Thursday, with markets focusing on the high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping to see if it will yield any positive results towards a resolution for the Iran war.Trump is expected to encourage China to convince Tehran to make a deal with Washington to end the conflict, but analysts doubt that Xi will be willing to push China's long-time strategic partner too hard.Brent crude futures LCOc1 were up 45 cents, or 0.43%, to $106.08 a barrel by 0714 GMT, while U.S.

ABS and HD Hyundai Heavy Industries (HHI) have signed a memorandum of understanding (MOU) to collaborate on a range of initiatives supporting sustainability, digital innovation and operational resilience in the maritime and offshore sectors, with a particular emphasis on accelerating the development of next-generation energy solutions.The scope of cooperation includes offshore wind development, offshore substations, small modular reactors (SMRs), offshore spaceport infrastructure…

Guice Offshore, a leader in the offshore maritime mini supply vessel specialty market, announced the appointment of veteran energy finance executive Trey Stolz as Chief Financial Officer. Stolz brings more than 20 years of experience as an investment banker and equity research analyst focused on the oilfield services industry. He has spent the past nine years in senior operational roles within the sector, most recently serving as CFO for a consolidator of oilfield services companies.

Anemoi Marine Technologies’ Rotor Sail wind-assisted propulsion system has completed more than eight years of continuous commercial operation after M/V Afros successfully passed its second intermediate dry dock survey.The survey, conducted by Lloyd’s Register in China in April, confirmed the structural integrity and operational condition of the vessel’s four Rotor Sails, Anemoi said.The 64,000-deadweight-tonne Ultramax bulk carrier Afros became the first bulk carrier fitted with Rotor Sails when the system was installed in 2018.According to Anemoi…

Belgian offshore contractor DEME has officially named its new jack-up offshore transport and installation vessel, Norse Energi, strengthening its offshore wind installation fleet alongside sister vessel Norse Wind.Norse Energi wind turbine installation vessel (WTIV) is soon expected to begin operations in the Baltic Sea and North Sea.The initial assignments include Iberdrola’s Windanker offshore wind farm in the German Baltic Sea from June 2026 and Ørsted’s Hornsea 3 project in…

EnergyPathways has signed a collaboration agreement with Associated British Ports (ABP) to evaluate the Port of Barrow in northwest England as a location for onshore facilities linked to its Marram Energy Storage Hub (MESH) project.The AIM-listed company said the MESH project, located in the Irish Sea, is expected to combine compressed air energy storage with natural gas and hydrogen storage using subsea salt caverns.According to EnergyPathways, the project has the potential to support up to 60 subsurface salt caverns and is targeted to begin operations in 2031…

Petronas LNG (PLL) has signed a 20-year time charter agreement with MISC Group for five newbuild liquefied natural gas (LNG) carriers as the Malaysian energy company strengthens long-term LNG supply capacity.The agreement covers five 174,000-cubic meter LNG carriers that will be built by Hudong-Zhonghua Shipbuilding in Shanghai, China, with charter commencements expected between 2029 and 2030.The vessels will feature XDF2.1 propulsion technology, shaft generators and onboard reliquefaction…

German shipping group Hapag-Lloyd on Wednesday reported a first-quarter loss, citing the impact of lower freight rates and operational disruptions stemming from severe weather conditions and the blockage of the Strait of Hormuz on the back of the Iran war.The group posted a net loss of 219 million euros ($257.00 million) compared to a profit of 446 million euros in the first three months of 2025.Hundreds of commercial vessels and up to 20,000 seafarers have been unable to transit the Strait of Hormuz, a vital energy-trade waterway that has been virtually closed since the U.S.

Global oil supply will not meet total demand this year as the Iran war wreaks havoc on Middle East oil production, the International Energy Agency said in its monthly oil market report on Wednesday."With Hormuz tanker traffic still restricted, cumulative supply losses from Gulf producers already exceed 1 billion barrels with more than 14 million (barrels per day) of oil now shut in, an unprecedented supply shock," the agency said.Its base-case forecast is for a gradual resumption of traffic through the Strait of Hormuz from the third quarter onwards…

Both Iraq and Pakistan have cut deals with Iran to ship oil and liquefied natural gas from the Gulf, according to five sources with knowledge of the matter, in a demonstration of Tehran's ability to control energy flows through the Strait of Hormuz.The U.S.-Israeli war with Iran has slashed energy exports from a region that normally supplies 20% of the world's crude oil and LNG. The U.S. has blockaded Iranian ports in recent weeks. And though Iran initially sought to halt traffic through the strait…

Norway's government said it expects the state to earn 721.1 billion crowns ($78.71 billion) this year in revenue from oil and gas production, up from $60.7B initially forecast, as the Iran war pushes up energy prices.Norway produces around 4 million barrels of oil equivalent per day, but the minority Labor government said the windfall revenue from higher prices should be added to its sovereign wealth fund, already the world's largest at $2.2 trillion.Unlike other European countries, Norway runs large fiscal surpluses thanks to its fund, but it must still limit spending to avoid fanning domesti

Lloyd’s Register (LR) has entered a research collaboration with connectivity and cyber security specialist Marlink to study how the maritime industry can better manage increasingly complex digital systems on board ships.Marlink will join LR’s Digital Transformation Research Program, with the initial work focusing on cyber security and connectivity as vessels become more data-driven and connected.The research will examine how responsibilities are shared between shipowners, system…

Dutch non-destructive testing specialist Ned Marine has launched drone and remotely operated vehicle (ROV)-based inspection services aimed at vessels, offshore installations and industrial assets.The company said the new services combine aerial drones and subsea ROVs with existing non-destructive testing (NDT) capabilities, including visual inspections and ultrasonic thickness measurements.Ned Marine said drone-based inspections would allow surveys of confined spaces, offshore and onshore wind turbines…

Offshore infrastructure services provider North Star has secured a multi-million-dollar pipeline of emergency response and rescue vessel (ERRV) contracts covering 17 vessels operating in the North Sea.The awards, comprising new contracts and extensions, represent around 50 years of combined contract duration, the company said.North Star said the contracts were secured through competitive tenders and renewals with offshore energy operators across the UK Continental Shelf.The company…

Clean hydrogen production is expected to grow 100-fold by 2060, driven by energy security concerns and large-scale expansion in China, according to a new forecast from classification society DNV.In its latest report, Energy Transition Outlook 2026: Hydrogen to 2060, DNV said global hydrogen volumes are expected to grow by 170% by 2060, supported by cumulative investment of $3.2 trillion.China is forecast to account for 35% of new hydrogen production and demand growth over the period…

Fast Offshore Supply (FOS) has selected Incat Crowther to design a fleet of 10 new DP2 fast crew transfer vessels (CTVs) for offshore operations supporting Brunei Shell Petroleum, a joint venture between Shell and the Government of Brunei.The 55-metre aluminum vessels will transport offshore personnel and cargo to Brunei Shell Petroleum assets and will be built at multiple shipyards in the region, including FOS’s own yard in Singapore.The vessels will each carry up to 80 passengers and 150 tonnes of cargo at speeds of up to 30 knots…

The Metals Company (TMC) has signed a commercial agreement with offshore contractor Allseas for the development and operation of what the companies said would be the first commercial deep-sea nodule recovery system.The agreement covers the development, commissioning and operation of a nodule collection system in preparation for offshore recovery operations in the Clarion Clipperton Zone of the Pacific Ocean.The commercial production system is designed for a nameplate production…

Italian offshore services provider Next Geosolutions (NextGeo) has been awarded a contract worth about $11.7 million (€10 million) for geophysical survey and unexploded ordnance (UXO) activities linked to a subsea energy infrastructure project in the Central Mediterranean.The contract was awarded by an international client operating in the subsea power cable sector, the company said.The project will involve offshore and nearshore operations using multiple vessels to conduct geophysical…

ABB and maritime cybersecurity company Cydome have teamed up to help shipping companies strengthen operational risk management and maritime safety by integrating voyage optimization and cybersecurity systems.The collaboration combines ABB’s weather routing and voyage optimization data with Cydome’s AI-based cyber risk management platform to provide ship operators with broader visibility across vessel operations and onboard systems.The companies said the integration is designed to help operators assess operational and cybersecurity risks simultaneously…

Eni and MSC Cruises have completed a test of Enilive’s HVO biofuel in maritime transport, confirming the technical feasibility of using the renewable diesel in pure form to power cruise ship engines.The trial involved powering one of the engines on the cruise ship MSC Opera for about 2,000 hours using pure HVO without modifications to the engine, while performance and emissions data were monitored.The companies said the test demonstrated that HVO can be used immediately in marine engines validated for its use without requiring technological upgrades…

The U.S. Coast Guard and partners responded to a fire onboard a non-operational natural gas platform offshore Santa Barbara, California, on Monday.At 6:30 a.m. a fire occurred aboard platform Habitat when platform personnel were conducting decommissioning operations for the platform.Platform Habitat, a non-oil producing platform, is located approximately 8 miles southwest of Santa Barbara.Responders and platform personnel reported that the fire was extinguished at 11:40 a.m.There…

Mitsubishi Heavy Industries (MHI) has completed an in-orbit demonstration of its AI-based object detection system AIRIS, which identified ships from satellite imagery using a next-generation space-grade microprocessor unit.The AIRIS system, short for Artificial Intelligence Retraining In Space, combines an AI-equipped data processor with an earth observation camera developed by the Tokyo University of Science.MHI said the system operates onboard a satellite using the SOISOC4 space-grade MPU…

Vicinay Marine and Spanish applied research center Tecnalia have jointly developed a sensor designed to remotely monitor corrosion on offshore mooring lines, aiming to improve the safety, reliability and service life of offshore systems.The companies said the sensor uses electrical resistance measurements to quantify section loss in mooring components in real time, model degradation trends and predict remaining service life.The technology is targeted at offshore wind farms and other floating offshore systems…

Fugro has been awarded a major geotechnical survey contract by SSE for the Berwick Bank B offshore wind development in the North Sea off Scotland.Berwick Bank B forms part of the wider 4.1 GW Berwick Bank offshore wind project, which is being developed in three phases and could become the world’s largest offshore wind farm if completed at full scale.The Dutch geodata specialist said the contract covers a full geotechnical investigation campaign to support foundation design for fixed-bottom turbines planned at the Berwick Bank B site…

New Wave Offshore Energy has been selected by Shell to provide marine warranty survey services for the Orca project in Brazil’s pre-salt Santos Basin.The contract covers marine warranty and assurance services for the offshore development, which is estimated to contain recoverable resources of about 370 million barrels.New Wave Offshore’s scope includes vessel surveys, engineering review and oversight of transportation and installation operations across multiple project phases.The…

Lloyd’s Register (LR) has granted an Approval in Principle (AiP) to Wison New Energies for a harsh-environment floating production storage and offloading (FPSO) design featuring an internal turret mooring system.The FPSO concept is aimed at offshore developments in demanding metocean conditions, where internal turret systems are commonly used but involve complex integration between hull, mooring, risers and topside systems.LR said the concept-stage review helps reduce technical…

UTC Overseas and Transoceanic Development have launched UTC Transoceanic (UTC Transo), a joint venture aimed at supporting the growing logistics needs of energy, power and industrial infrastructure projects along the U.S. Gulf Coast.Headquartered in New Orleans, the venture combines UTC Overseas’ project logistics and customs brokerage operations with Transoceanic Development’s regional infrastructure and port expertise in Louisiana.The companies said UTC Transo would focus on logistics support for large-scale projects including LNG developments…

Descartes Systems Group has released its May Global Shipping Report which found that U.S. container imports decreased by 3.2% in April 2025, as trade uncertainty and geopolitical risks persist.In April 2026, U.S. container import volumes decreased by 3.2% over March to 2,277,965 twenty-foot equivalent units (TEUs). China-origin imports decreased 4.3% month-over-month and 15.3% year-over-year, according to the latest report by Descartes.West Coast ports reclaimed market share lead over East and Gulf Coast ports and port transit delays improved broadly over March.

Japan's Mitsui O.S.K. Lines (MOL) said on Friday three of its vessels that transited the Strait of Hormuz and exited the Gulf in April did not pay transit fees, sticking to a principle of navigation under international law.Tehran has proposed fees or tolls on vessels passing through the Strait, in its proposals to end the war with Israel and the United States.The Strait is one of the world's most strategically vital maritime routes, with about a fifth of global seaborne crude oil and LNG flows passing through it in normal times.The company does not intend to pay such fees in future…

Ocean Power Technologies (OPT) has demonstrated autonomous docking, charging and redeployment capabilities for its WAM-V autonomous surface vehicle as part of efforts to support longer-duration offshore operations.The company said the system enables the maritime drone to approach a dock, secure itself, recharge and return to operation without human intervention.OPT is preparing the technology for integration with its PowerBuoy platform to create offshore charging points capable…

Coal shipments to Japan, South Korea and the European Union rose 27% year-on-year in April as tight gas supplies and disruption to LNG shipments prompted buyers to seek alternative fuel sources for electricity generation, shipping association BIMCO said.The increase came as the closure of the Strait of Hormuz disrupted LNG exports from the Persian Gulf and contributed to an 8% decline in global seaborne LNG shipments in April, BIMCO said.“In April 2026, coal shipments to Japan…

South Korea’s Hanwha Ocean and Canadian marine bearing manufacturer Thordon Bearings have signed a memorandum of understanding (MoU) to explore cooperation on Canada’s submarine procurement program and other naval projects.The agreement focuses on the Canadian Patrol Submarine Program, one of the largest conventional submarine procurement programs currently planned, under which Hanwha Ocean has been selected as one of two qualified suppliers by the Canadian government.Hanwha Ocean…

Solstad Offshore has signed a letter of intent with an international subsea contractor for the charter of construction support vessel (CSV) Normand Maximus.The contract is expected to begin in the first quarter of 2027 and run through the first quarter of 2029, with an option to extend it to the first quarter of 2030.Under the agreement, Normand Maximus will support worldwide operations for the client, Solstad said.The company added that it will provide two work-class remotely operated vehicles…

The Iran war has already led to a loss of about 120 billion cubic metres of global liquefied natural gas supply over the 2026 to 2030 period, Gergely Molnar, an analyst from the International Energy Agency, said on Thursday.Speaking at the Budapest LNG Summit, Molnar said the conflict was reshaping the medium-term gas outlook, with tighter market conditions likely to persist longer than previously expected.He said the crisis had cut LNG supply by around 15%, but a strong increase in new liquefaction capacity was expected to offset lost volumes from Qatar and the United Arab Emirates.Iranian at

Baleària’s new dual-fuel Ro-Pax fast ferry Mercedes Pinto achieved a top speed of 38 knots during sea trials ahead of its planned deployment in the Canary Islands, ship designer Incat Crowther informed.The 123-metre vessel, built by Spain’s Astilleros Armon shipyard in Gijon, is the third Incat Crowther-designed Ro-Pax fast ferry delivered to the Spanish operator.Mercedes Pinto can carry up to 1,200 passengers and 425 vehicles and features dual-fuel natural gas engines capable of operating on biomethane or hydrogen blends of up to 25%…

Europe's offshore wind expansion is running into a structural supply constraint where the turbine market is becoming increasingly concentrated. GE Vernova, Siemens Gamesa and Vestas have historically anchored Western offshore turbine supply, but with GE Vernova having paused new offshore wind orders following a series of technical and operational setbacks, Siemens Gamesa and Vestas now account for virtually all turbines available to European developers. Rystad Energy’s analysis of the offshore wind market outlines a sharp increase in per-megawatt (MW) costs…

According to the latest figures from DNV’s Alternative Fuels Insight (AFI) platform, 38 new orders for alternative-fueled vessels were placed in April 2026.The majority of these orders (20) were for LNG-fueled vessels. Eight of these were for vessels in the car carrier segment, six for container vessels, four for crude oil tankers, and two for cruise vessels.A further 14 orders were placed for LPG/ethane carriers.The remaining four orders were for ammonia-fueled vessels in the…

Kongsberg Maritime has won a contract from Austal USA to supply propulsion systems for the next four vessels in the United States Coast Guard’s Offshore Patrol Cutter Heritage Class program.The contract covers delivery of Kongsberg Maritime’s Promas propulsion system, as well as steering gear, rudders, fin stabilisers and tunnel thrusters for the vessels.The Offshore Patrol Cutter program is expected to include up to 25 ships and is designed to replace the Coast Guard’s medium…

DOF Group has secured four 12-year charter and services contracts in Brazil following a competitive tender process, supporting Petrobras’ deepwater subsea inspection, maintenance and repair operations.The contracts will lead to the construction of four new remotely operated vehicle support vessels (RSVs), with operations expected to begin from 2030, DOF said.The vessels are expected to be built by Brazil’s Navship yard, with delivery of the first two planned within four years of contract signing.The newbuilds will be DP2-class vessels designed for deepwater operations…

South Korean shipper HMM said on Wednesday it had secured a vessel to tow a bulk carrier it operates to a port in Dubai after an explosion and fire damaged the ship, which had been stranded in the Strait of Hormuz.U.S. President Donald Trump blamed the incident on an Iranian attack, while South Korea's Foreign Ministry said the cause of the fire would only be confirmed after the vessel was towed back to port and inspected.HMM said in a text message that the damaged vessel was expected to arrive in Dubai on Thursday night or Friday morning Seoul time.The Panama-flagged ship…

Tug Network Team has appointed Felipe Gouvêa as executive director as the towage alliance moves to strengthen coordination and expand its international operations.The alliance, launched in the Americas in 2024 and recently expanded into Europe, connects operators across 113 ports in 13 countries with a combined fleet of more than 200 tugs.Gouvêa previously served as chief executive of Brazilian towage operator Sulnorte and has held senior roles across shipping, chartering, port…

DFDS has agreed to acquire the Ro-Pax ferry Stena Vinga from Swedish operator Stena Line, strengthening its fleet and supporting services linking Jersey with the U.K. and France.The vessel is currently chartered by DFDS and has been operating on its Jersey routes since March 2025, carrying both freight and passengers.The 125-meter vessel, built in 2005, can carry up to 400 passengers, 200 cars and has freight capacity of 1,500 lane metres. It is equipped with 40 cabins, a restaurant, duty-free shop, cinema and recliner lounge.DFDS said the ferry will be reflagged under the U.K.

Norwegian subsea services firm Reach Subsea has received a letter of intent for a multi-year contract covering inspection, maintenance and repair (IMR) and light construction services in the Mediterranean and Black Sea.Aside from the letter of intent, covering a 2+1-year IMR and light construction services, Reach Subsea has also entered into a separate letter of intent with Solstad Maritime for the charter of the vessel Normand Jarstein in connection with the award.A commitment has been signed to commence the vessel’s transit this week…

Multidisciplinary consultancy AGR has entered into a partnership agreement to onboard the offshore support vessel Aquaman II, expanding its capacity for subsea operations, plug and abandonment (P&A) and decommissioning work in the North Sea.The vessel, owned by Star Matrix and to be operated by AGR, will be configured as a light construction anchor handling tug supply vessel to support subsea and offshore campaigns.AGR said the addition strengthens its marine spread as activity increases across vessel-based subsea operations…

Norwegian offshore vessel owner and subsea services provider DOF Group said it has secured a contract for subsea commissioning support services in the Asia-Pacific region, with offshore operations planned in North Australian waters.The company said its vessel Skandi Inventor will be deployed for the campaign, which is scheduled to begin in the second quarter of 2027 and is expected to last between 120 and 180 days.The scope of work includes project management, engineering, procurement…

Brent crude futures retreated on Tuesday but held near $114 a barrel following fresh hostilities in the Middle East, while investors monitored developments in the U.S.-Israeli conflict with Iran.The U.S. and Iran launched new attacks in the Gulf on Monday as they wrestled for control over the Strait of Hormuz with duelling maritime blockades, shaking a fragile truce.Brent crude futures LCOc1 eased 93 cents, or 0.8%, to $113.51 per barrel at 0719 GMT after settling up 5.8% on Monday. U.S.

Tidewater Inc. has announced a revenue drop for the three months ended March 31 of $326.2 million compared with $333.4 million for the three months ended March 31, 2025.Tidewater's net income for the three months ended March 31, 2026, was $6.1 million ($0.12 per common share), compared with net income of $42.7 million ($0.83 per common share) for the three months ended March 31, 2025.Quintin Kneen, Tidewater’s President and Chief Executive Officer, commented, “The first quarter of 2026 exceeded our expectations across all key financial and operational measures…

California energy officials on Monday opened an investigation into the Trump administration's agreement with an offshore wind company to cancel a planned project off the state's central coast.The state said it was seeking information about the $120 million government payout to determine whether it violated the law.The refunds of offshore lease payments, in exchange for fossil fuel investments, are part of a recent strategy in President Donald Trump's year-long effort to stymie…

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The Chouest Group announced it has completed the acquisition of the Alliance business from Helix Energy Solutions Group. Alliance will be integrated into Champagne Energy Solutions (CES), expanding the Group’s offshore decommissioning and plug & abandonment (P&A) platform.The transaction builds on the recent formation of CES and advances the Chouest Group’s strategy to deliver fully integrated, end-to-end offshore solutions focused on late-life asset management and decommissioning.The combined platform will provide services including P&A…

The changing global bottom-fixed offshore wind turbine and foundation installation marketThe last two or three years have seen a change in the underlying stakeholder support for the energy transition, resulting in the energy trilemma being focused more on energy security and affordability than transition, which means a pivot away from renewables to increased support for oil & gas. At the same time, inflation and interest rates have impacted project economics. Needless to say,…

Dutch grid operator TenneT is preparing to begin horizontal directional drilling at Maasvlakte as part of efforts to connect three offshore wind farms to the onshore grid.Steel casing pipes have been installed at three beach work sites, allowing drilling beneath the beach and seabed to begin, weather permitting.The drilling will be carried out in three stages, starting with a pilot bore from the beach towards the sea, followed by widening of the borehole and the installation of…

Wind propulsion specialist bound4blue has completed the second installation of its suction sail system for Maersk Tankers, fitting four 24-meter eSAIL units on the Maersk Tahiti at a shipyard in China.The installation forms part of a broader agreement to equip five medium-range tankers with a total of 20 units, the company’s largest single contract to date.The Maersk Tahiti installation follows the completion of the first system onboard the Maersk Trieste earlier in 2026.According to bound4blue…

Norwind Offshore has doubled its fleet through the acquisition of six commissioning service operation (CSOV) vessels from Edda Wind.The transaction was completed in partnership with Navigare Capital Partners, the company said.The vessels have either recently been delivered or are in the final stages of delivery and are designed for offshore wind operations, featuring Vard 4 25 and SALT 0217 designs.“This transaction marks a significant step forward for Norwind Offshore. It is not just about the scale – it is about readiness.

Israel has intercepted aid ships bound for Gaza in international waters near Greece, flotilla organisers said on Thursday, decrying the move as an "escalation of Israel's impunity".A second flotilla carrying humanitarian aid to Palestinians in Gaza sailed from the Spanish port of Barcelona on April 12, aiming to try to break the Israeli blockade.The vessels were seized by Israel hundreds of miles from Gaza, said the organisers, Global Sumud Flotilla."This is piracy," the group said in a statement.