Maritime Industry Top News
Exail Reports 52% Rise in Q2 Sales
French high-tech industrial group Exail Technologies on Wednesday reported a 52% rise in second-quarter sales, as geopolitical tensions fuel military spending in Europe.The underwater drone maker reported quarterly revenue of 126 million euros ($148 million), boosted by programmes to counter mines and solid navigation system deliveries."The defense sector is making a significant contribution to commercial expansion, with the signing of numerous sovereign programs during the quarter, particularly
HDR Announces New Global Maritime Director
Blair Garcia, a longtime leader in the maritime industry, has joined HDR as the global maritime director. He will build on the firm’s strong foundation of maritime and coastal engineers, scientists and experts, while adding new services and geographies to drive HDR’s continued growth in this global market.Garcia has spent three decades in the ports and maritime industry, helping port and intermodal rail clients on six continents and at most of the deep-water ports in the U.S.
RAD Propulsion Introduces New Partnerships Across Three Key Regional Markets
RAD Propulsion, a leader in electric marine propulsion systems, announced the expansion of its international dealer network with new strategic partnerships in the Netherlands, India and Japan. Energyboats will serve as RAD's official dealer in the Netherlands, focusing specifically on the Benelux region. Energyboats specializes exclusively in 100 percent electrically powered boats and works only with manufacturers that take the electric motor as their starting point.
Dong Fang Offshore Orders Huisman Cable Lay System
Huisman has signed a contract with Dong Fang Offshore (DFO) for the delivery of a modular cable lay system, specifically designed for deployment across range of vessels.Huisman’s 30mt cable lay system will be suitable for deployment for DFO’s newbuild Construction Service Operation Vessels (CSOVs) and Offshore Construction Vessels, built by Vard.This marks Huisman’s first cable lay system, built on…
NYK Kicks Off Continuous Use of Bio-LNG Fuel on Car Carriers
NYK has started the continuous use of bio-LNG fuel on its LNG-powered car carriers as part of its commitment to maritime decarbonization.The bio-LNG is supplied by Dutch firm Titan Supply at the port of Zeebrugge in Belgium. The first vessel to receive the fuel was Daisy Leader on June 15, and the second was Sumire Leader on July 18.Bio-LNG, also known as liquefied biomethane, is purified liquefied methane gas (biogas) produced from biomass feedstock…
Shipbuilding: Bulk Vessel Deliveries Soar
“We forecast that bulker deliveries will gradually increase this year and in 2026, reaching 41.2m Deadweight Tonnes (DWT) and a six-year high. Bulker newbuilding contracting was strong in 2023 and 2024, and several of the ships ordered during this period are expected to be delivered during this and next year,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Of the 59.3 million DWT expected to be delivered until the end of 2026…
Egypt's First Finished-Vehicle Logistics Terminal Opens for Business
The Suez Canal Automotive Terminal (SCAT), a joint venture among NYK, Africa Global Logistics (AGL) and Toyota Tsusho Corporation, has officially opened Egypt's first finished-vehicle logistics terminal.With an anticipated increase in finished-vehicle imports and the forthcoming initiation of full-scale exports, SCAT is strategically positioned to address this growing demand.The facility features a quay capable of accommodating two large car carriers simultaneously…
TotalEnergies, CMA CGM to Form LNG Bunkering Logistics JV
TotalEnergies and CMA CGM Group have entered into an agreement to develop a 50/50 logistics joint venture dedicated to the implementation and operation of a liquefied natural gas (LNG) bunker supply solution at the port of Rotterdam, in the Netherlands.The strategic partnership reflects the shared ambition of both French companies to work jointly towards the acceleration of the energy transition in the maritime sector.As part of this new logistics joint venture…
POSH Welcomes AHTS Vessel to its Fleet
PACC Offshore Services Holdings (POSH), an offshore marine solutions provider, has expanded its towage and installation fleet with the addition of a new anchor handling towing (AHT) vessel, POSH Courage.This fleet enhancement strengthens POSH’s capacity to undertake larger or multiple towages, further boosting the company’s ability to execute concurrent tows and offering clients greater scheduling…
Friede & Goldman Hires Contractor for Semi-Sub Rig Conversion Job
Houston-based designer of mobile offshore drilling units Friede & Goldman (F&G) has signed an engineering agreement with Peak Ocean Offshore, a specialist in offshore asset conversion and lifecycle optimization, for the design and engineering of a major semi-submersible accommodation conversion project.The agreement formalizes F&G’s role as the design and engineering authority for the project, which…
Foreign Flags Under Investigation by FMC
Coast Guard and Maritime Transportation Subcommittee Chairman Mike Ezell (R-MS) delivered his opening remarks at the July 22 hearing on the Federal Maritime Commission (FMC) budget request highlighting his interest in the impact of flags of convenience.The FMC is an independent agency responsible for the regulation of ocean-borne transportation in the foreign commerce of the United States. Earlier this year…
EU Lifts Sanctions Against Three LNG Tankers
The European Union has lifted sanctions against three tankers managed by Japan's Mitsui O.S.K.
US Targets Houthis with Fresh Sanctions
The United States on Tuesday imposed sanctions on what it said was a Houthi-linked petroleum smuggling and sanctions evasion network across Yemen and the United Arab Emirates in fresh action targeting the Iran-backed militant group.The U.S. Treasury Department in a statement said the two individuals and five entities sanctioned on Tuesday were among the most significant importers of petroleum products…
Hanwha to Build US-Flagged LNG Carrier
Hanwha Shipping, a U.S. subsidiary of Korean shipbuilder Hanwha Ocean, on Tuesday said it ordered an LNG carrier valued at roughly $252 million from its own Pennsylvania-based unit Hanwha Philly Shipyard.Under the agreement, the ship will be built in Korea and flagged in the United States. It is slated for delivery in the first half of 2028.The deal comes as the United States works to revive domestic shipbuilding and expand its fleet of commercial and military vessels.
Ballard Announces 6.4 MW Fuel Cell Order to Power Samskip Vessels
Ballard Power Systems announced the signing of a new purchase order for the supply of 6.4 MW of fuel cell engines to eCap Marine GmbH, a expert in emission free power, for deployment on two vessels by Samskip, one of the largest multimodal European operators specializing in short sea, rail, road and barge services.The 32 FCwave-200 kW engines will be integrated into green marine propulsion systems…
Ocean Group Changes Shareholding Structure to Accelerate Growth
Ocean Group, a leader in the maritime industry in Quebec, announced a change in its shareholding structure, marking a milestone in its development. The transition is being carried out with the continued involvement of Mr. Gordon Bain, the company's founder, and through a management buyout process led by Mr.J acques Tanguay, the company's President and Chief Executive Officer. This change will allow…
ABS Wavesight Platform Selected For Digitalized FuelEU, EU ETS Compliance
ABS Wavesight, the ABS-affiliated software-as-a-service (SaaS) company, has been chosen by Navios Maritime Partners L.P. to provide a single integrated platform to support compliance with the FuelEU Maritime Regulation and EU Emissions Trading Scheme (ETS) requirements.As of January 1, 2025, companies with ships calling on EU ports must collect and report key fuel-related data in preparation for EU submission deadlines.
IMF Warns Tariffs Won't Solve Global Account Imbalances
Global current account balances widened sharply in 2024, reversing a narrowing under way since the global financial crisis of 2008-2009, the International Monetary Fund said on Tuesday, warning that tariffs were not the answer.In its annual External Sector Report, which assesses imbalances in the 30 largest economies, the IMF noted that external surpluses or deficits were not necessarily a problem…
Lockheed Martin Q2 Profit Plunges After $1.6b Pretax Loss
Lockheed Martin reported on Tuesday that its second-quarter profit plunged by about 80%, after the U.S.
Port of Barcelona Enhances Security and Efficiency With Genetec Technology
Genetec Inc., a leader in enterprise physical security software, announced that the Port of Barcelona has successfully implemented Genetec Security Center, improving the port’s safety, efficiency, and operational capabilities.As one of the Mediterranean’s major logistics hubs, the Port of Barcelona has experienced continuous growth in recent years, leading to new operational and security challenges.
