Companies Scramble to Assemble Operations for Venezuelan Crude Exports to US
Oil companies aiming to participate in new exports of Venezuelan crude to the U.S. following the ouster of President Nicolas Maduro are in hasty discussions to find tankers and put together operations to transfer the crude safely from vessels and dilapidated Venezuelan ports, four sources familiar with the operations said.Trading houses and oil companies, including Chevron, Vitol and Trafigura, are competing for U.S.
Sweden Urges EU Ban on Supporting Russian Oil, Gas-Shipping Fleet
The European Union should ban companies from providing any support to Moscow's oil and gas-shipping fleet, introduce sanctions against Russian fertilisers and stop luxury goods exports to Russia, Sweden's foreign minister said on Monday.The 27-nation bloc is currently preparing its 20th sanctions package aimed at punishing Russia for its war in Ukraine. Previous sanctions have focused heavily on hobbling its oil and gas sector…
Oil Prices Dip as Investors Consider Iran Supply Concerns, Venezuelan Exports
Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors also weighed efforts to resume oil exports from Venezuela.Brent crude futures lost 28 cents, or 0.44%, to $63.06 a barrel by 1402 GMT while U.S. West Texas Intermediate crude was at $58.78 a barrel, down 34 cents, or…
Sweden to Spend $440m on Unmanned Military Drone Systems
Sweden will spend 4 billion crowns ($437 million) on unmanned drone systems to be delivered over the next two years, the country's Defence Minister Pal Jonson said on Monday.The NATO member will buy unmanned systems including long-range attack drones, electronic warfare systems and surveillance drones as well as marine surveillance and minesweeping drones."No one knows what the next war will look like but one thing is clear…
US Judge Considers Orsted's Request Against Trump Offshore Wind Pause
A U.S. judge on Monday will consider a request from Danish energy company Orsted for an injunction against the Trump administration's decision to halt its $5 billion Revolution Wind project off the coast of Rhode Island.The company's lawsuit is one of several filed by offshore wind companies and states seeking to reverse the Interior Department's December 22 suspension of five offshore wind leases…
Delfin LNG Project Moves Closer to FID as SHI Gets Extension
Delfin Midstream has extended a letter of award with Samsung Heavy Industries (SHI) and placed orders for critical liquefaction equipment, as the company moves toward a final investment decision on the first floating LNG vessel for its Delfin LNG project.The U.S.-based developer said the extension of the letter of award with SHI follows early engagement work carried out in recent weeks and comes as the remaining workstreams required to reach FID are nearing completion.
Joint Project Aims to Enhance Maritime Battery Safety
ABS and Siemens Energy have signed a joint development project (JDP) to advance the understanding of thermal runaway in lithium-ion batteries through modeling and simulation, supporting safer and more reliable energy storage systems for the marine and offshore industries.The JDP brings together ABS’s technical expertise in classification, verification, and standards development with leadership from Siemens Energy in digital simulation and industrial technology innovation.
Wasaline Posts Solid 2025
Finnish–Swedish ferry operator Wasaline reported a strong performance in 2025, delivering passenger growth, higher revenues and a major reduction in emissions, despite a more challenging freight market.Passenger volumes rose by 2.6% to 259,769, even though the company’s ROPAX vessel Aurora Botnia was out of service during the final week of December for scheduled dry-docking. Freight volumes declined slightly year-on-year…
Wind-Assisted LNG Carrier Concept Gets BV AiP
Dalian Shipbuilding Industry Co., Ltd. (DSIC) unveiled a new generation of decarbonization-focused vessel designs, including a wind-assisted 175,000-cu.-m. LNG carrier that…
Ribcraft Unveils the PRO 480 Electric
Ribcraft unveiled the PRO 480 powered by the RAD 40 electric outboard, a UK-built demonstrator that strengthens Ribcraft’s next-generation electric RHIB portfolio for professional, commercial, and government operators. Built on the trademarked Ribcraft Deep-V Hull, the Ribcraft PRO 480 has long served as a benchmark in compact professional RHIB capability, agile, resilient, configurable, and repeatedly proven across defence, SAR, and high-demand commercial operations.
Payment Fraud on the Rise, ITIC Warns
P&I correspondents are being urged to strengthen their payment verification procedures after a fraudster intercepted email communications during a sensitive crew claim and diverted a US$200,000 settlement, according to International Transport Intermediaries Club (ITIC).In a case cited in ITIC’s most recent Claims Review, a P&I correspondent was managing a sensitive crew-claim settlement when a third…
LNG-Fueled Container Ships Prop Up Alternative Fuel Orders in 2025, DNV Finds
LNG-fueled container ships helped sustain the share of alternative fuels in the global shipbuilding orderbook in 2025, even as overall newbuilding activity slowed sharply following a record year, according to data from classification society DNV.Annual figures from DNV’s Alternative Fuels Insight platform show that while total newbuild orders fell to 2,403 vessels in 2025 from 4,405 a year earlier…
Vantris Energy Sells Heavy-Lift Vessel Interest to Larsen & Toubro
Vantris Energy, formerly known as Sapura Energy, has divested its 40% equity stake in L&T-Sapura Shipping to joint-venture partner Larsen & Toubro for total consideration of about $30.5 million, as part of a broader portfolio optimization strategy.The transaction includes equity consideration as well as the full repayment of an outstanding shareholder loan and accrued interest owed to Vantris Energy.
ABB to Equip BC Ferries’ New Major Vessels
ABB has secured a contract to supply integrated power, propulsion and control solution for BC Ferries’ four new hybrid-electric major vessels.The New Major Vessels have been designed to minimize emissions and underwater radiated noise (URN), with the goal of contributing to quieter and cleaner operations in the Strait of GeorgiaABB will supply a complete package of power, propulsion and control technology…
Vard to Build Four New Multi-Purpose Robotic Vessels for Ocean Infinity
Vard, the Norwegian subsidiary of the Fincantieri Group, has signed a new contract with existing customer Ocean Infinity for the design and construction of four Multi-Purpose Robotic Vessels (MPVs).The contract, whose value exceeds $230 million (€200 million), also includes a comprehensive scope of supply from Vard Electro, which will deliver the full suite of SeaQ systems for remote operations.Also…
Piracy in Straits of Malacca and Singapore Drops After Arrests
The ReCAAP Information Sharing Centre (ISC) issued its 2025 annual report on piracy and armed robbery against ships in Asia highlighting that 132 incidents of piracy and armed robbery were reported to in 2025 - a 23% increase over the 107 incidents reported in 2024.One hundred and eight of these were located in the Straits of Malacca and Singapore (SOMS), a 74% increase over 2024 numbers. This is the…
TwinShip Designs Futuristic Unmanned RoRo Concept
The EU-based TwinShip consortium has unveiled the fourth pilot demonstration of the TwinShip Project: an unmanned Ro-Ro vessel powered by green fuels and renewable energy, targeting Net Zero Emissions by 2045.This simulated demonstration leverages digital twin and decision support system capabilities for advanced voyage optimization—specifically, active weather routing to maximize energy harvesting…
Cuba Defiant After Trump to Cut Venezuelan Oil
U.S. President Donald Trump on Sunday said no more Venezuelan oil or money will go to Cuba and suggested the Communist-run island should strike a deal with Washington, ramping up pressure on the long-time U.S. nemesis and provoking defiant words from the island's leadership.Venezuela is Cuba's biggest oil supplier, but no cargoes have departed from Venezuelan ports to the Caribbean country since the capture of Venezuelan President Nicolas Maduro by U.S. forces in early January amid a strict U.S.
UK Says NATO Talks on the Arctic “Business as Usual”
Britain said on Sunday discussions with other NATO members on deterring Russian activity in the Arctic were "business as usual", after media reports the UK was in talks with its European allies about deploying a military force to Greenland.The Telegraph reported on Saturday that military chiefs from Britain and other European countries were drawing up plans for a possible NATO mission in Greenland, which U.S.
Maersk is exploring more ethanol for green fuel in order to reduce its reliance on China.
The Financial Times published an interview with Maersk's CEO, Vincent Clerc, on Sunday. This could reduce the company's dependence on China, and help the industry to decarbonise.Clerc stated that the U.S. and Brazil are the leading producers of ethanol in the world.Clerc told FT that if all the benefits are concentrated in China then some countries may object. But if they're more evenly distributed then many more will be supportive.
