Navy Shipbuilding is in Focus, but Hegseth wants to Boost Overall Defense Spend
U.S. Defense Secretary Pete Hegseth said he wanted to increase overall U.S. defense spending and played down concerns over a pending audit by Elon Musk aimed at finding billions of dollars in waste at the Pentagon.Speaking in Germany during his first trip overseas, Hegseth said he had already been in touch with Musk and expressed confidence in the effort to find billions in cost-cutting and to make…
US Oil Output Projection Raised for 2025, says EIA
U.S. oil production is expected to reach new heights in 2025, surpassing earlier projections, according to the U.S. Energy Information Administration’s (EIA) latest Short-Term Energy Outlook. The EIA now forecasts U.S. crude oil production will average 13.59 million barrels per day (bpd) in 2025, up from its previous estimate of 13.55 million bpd.Despite this upward revision in production, the agency has kept its forecast for U.S.
Euroseas Secures Finances for Containership
First Citizens Bank's Maritime Finance business provided $26 million in financing to Euroseas Ltd., enabling the container shipping company to add a newly built 2,800 TEU ECOcontainership to its fleet.Euroseas (NASDAQ: ESEA) was formed in 2005. It owns and operates carrier vessels and provides seaborne transportation for containerized cargoes. The company owns a fleet of 24 vessels on the water, including 17 feeders and seven intermediate containerships…
Cable Recovery Vessel ‘Maasvliet’ Delivered
Holland Shipyards Group announced the delivery of the Maasvliet, a specialized cable recovery vessel, to Hartel Shipping & Chartering, part of Hudig & Veder Group. Maasvliet, measuring 90.6 meters in length and 13.2 meters in width, is designed to support offshore cable recovery operations efficiently. The vessel will be on long-term charter to Subsea Environmental Services and deployed for vital cable projects over the coming years.Maasvliet is equipped with advanced cable management systems…
DESMI Acquires Nordan Marine
DESMI, a global leader in pump and flow solutions, acquired Nordan Marine, a provider of service and repair solutions for cargo and fuel handling systems in the maritime sector. The move aims to bolster DESMI’s presence in the maritime industry, particularly in the growing market for LPG, LEG carriers, LNG, and alternative fuel-capable vessels.The acquisition aligns with DESMI's strategy to expand its gas cargo and fuel pump solutions portfolio…
Next Ocean Wins Investment to Scale Wave-by-Wave Ship Motion Prediction
Next Ocean, a pioneer in Vessel Motion Radar technology, has secured Seed Investment from Arches Capital to drive its expansion and enhance maritime safety worldwide. This funding will accelerate Next Ocean’s growth, enabling the company to scale production, expand into new markets, and further develop its predictive radar technology.Over the past years, Next Ocean has successfully delivered numerous Vessel Motion Radar systems to leading companies in the Offshore Wind and Oil & Gas industries.
Shipping Number of the Week: Regional Container Trade Imbalances Surge by 33%
“Since 2019, the global container market has grown 8%, ending at 183.2m TEU in 2024, according to Container Trade Statistics. However, growth has been very uneven, and regional imbalances between exports and imports have increased by 33%,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.In 2019, regional imbalances totaled 58.8m TEU, equal to 52% of inter-regional trade, but grew to 84.9m TEU and 70% in 2024.
Inside Vietnamese Shipbuilding: Challenges and Opportunities
While many economic sectors were affected by the COVID-19 pandemic, Vietnam's shipbuilding industry continued to grow, affirming its strong and growing position in the international space. Vietnam's shipbuilding industry achieved many accomplishments in 2024 with the construction, launching and delivery of many specialized ships, contributing to the world's fleet, operating on global shipping routes.By 2030…
Securing the Deep: Business Opportunities in Subsea Defense
As global reliance on subsea infrastructure grows, so do the risks. Discover how safeguarding undersea assets opens new frontiers for innovation and investment.Importance of Subsea InfrastructureSubsea infrastructure plays a critical role in maintaining the operational continuity of the modern society and the global economy. This vast network includes subsea data and communication cables, pipelines for energy transportation, electricity cables, and resource extraction systems.
Belships Reports Strong Q4, Expanding Fleet
Belships ASA, a leading shipowning company specializing in Ultramax vessels, reported solid financial results for the fourth quarter of 2024, showcasing the growth of its fleet and robust profitability amidst challenging market conditions.:Belships posted an EBITDA of $19.4 million and a net profit of $7.5 million for Q4 2024. Despite a softer freight market, the company achieved a time charter equivalent (TCE) of $15…
Next Ocean Scoops Investment to Scale Up Vessel Motion Radar Tech
Next Ocean, a Dutch developer of Vessel Motion Radar systems for offshore wind and oil and gas industries, has secured seed investment from Arches Capital to drive its business expansion.This funding will accelerate Next Ocean’s growth, enabling the company to scale production, expand into new markets, and further develop its predictive radar technology.Over the past years, Next Ocean has delivered…
Visual Estimate of Height Led to Crane Hitting Bridge
A captain and barge company managers not identifying the crane they were towing was too high to pass under the Mackinac Bridge near Mackinaw City, Michigan, led to the crane hitting the bridge, the US National Transportation Safety Board (NTSB) has concluded.On May 7, 2023, the towing vessel Nickelena was transiting the Straits of Mackinac, while towing a deck barge transporting a crawler crane, when the crane boom struck the main span of the Mackinac Bridge.
New Rules for Containerized Cargo Start March 1
Starting March 1, 2025, ocean common carriers of containerized cargo are expected to file documented export strategies with the US Federal Maritime Commission (FMC) on an annual basis.The increased obligation is one of several notable developments on the horizon for the ocean shipping industry in 2025, says the Venable LLP international trade team.As Venable explains in its latest advisory on expected trade laws in 2025…
Carboline Appoints Inaugural Vice President of Supply Chain
Carboline has named Priscila Nobre as the company’s inaugural Vice President of Supply Chain. She will oversee the company’s Sales Inventory and Operations Planning, Service Centers, Customer Service and Transportation departments.Carboline is a global manufacturer of high-performance coatings, linings, and fireproofing products based in St. Louis, Missouri, US.“Recent economic and environmental crises…
Large Vessel Rates Drives Baltic Index Down
The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, retreated on Monday due to weaker larger vessel rates.The index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, fell 6 points to 809 points, snapping a six-session winning streak.The capesize index .BACI was down 30 points at 810 points.Average daily earnings for capesize vessels .BATCA…
Trump, Musk to Turn Focus on DoD, Navy Shipbuilding
President Donald Trump said that Elon Musk will lead an audit of the Pentagon, aiming to uncover what he claims could be "hundreds of billions of dollars" in fraud and abuse.During a Super Bowl interview with Fox News' Bret Baier, Trump revealed his plans to instruct Musk to broaden his oversight beyond the Department of Education to include the Department of Defense. “We're going to find billions…
WCI Presents 2025 Leadership Award to Congressman Comer
Congressman James Comer (R-KY), Chairman of the Oversight and Government Reform Committee, was presented with Waterways Council, Inc.’s (WCI) 22nd Annual Leadership Service Award on February 5, 2025, for his championship of the nation’s inland waterways and support of the Kentucky Lock project. The award was presented at a Capitol Hill reception.“Congressman Comer has been a stalwart supporter of the modernization of the nation’s inland waterways…
"It's not the death of U.S. Offshore Wind" says Intelatus
The offshore wind sector is bracing for transformative changes as it navigates shifting political landscapes and evolving market demands. To shed light on the current state of the industry, Maritime Reporter TV interviewed Phil Lewis, Director of Research at Intelatus, an international offshore energy markets expert, to discuss the trends shaping the Service Operation Vessel (SOV) and Construction Service Operation Vessel (CSOV) markets and the future of U.S.
Caudwell Marine Expands
Caudwell Marine, a marine manufacturing business owned by John Caudwell, is poised for its official diesel outboard launch in 2025. In step, the company announced the move to a new dedicated manufacturing facility and corporate head quarters in February 2025.This relocation combines Caudwell Marine's outboard production line and functional headquarters into one facility marking an exciting milestone in the business’s growth and vision for the future.
FLIR Debuts Next-Gen Handheld Marine Thermal Camera
FLIR announced its next generation of marine thermal monoculars – the FLIR Ocean Scout Pro. Designed for public safety professionals and to provide enhanced situational awareness for professional and recreational mariners, the Ocean Scout Pro is deisgned to be intuitive, easy to use, and available at a price point, making it an accessible and beneficial addition to any mariner’s safety equipment kit.Designed around an advanced 640 x 480 thermal detector…
