VARD inks deal to Build Fishing Vessel for Rosund
VARD, the Norwegian shipbuilding subsidiary of Fincantieri, won a contract to design and build an advanced fishery vessel for Norway’s Rosund Drift AS.The newbuild will be based on the VARD 8 02 design, tailored for modern offshore fishing operations, supporting both bottom trawling and mixed fisheries while emphasizing gentle catch handling, high product quality and reduced environmental impact.A key focus of the vessel is sustainability.
Three Indian Sailors Die After US Strike Tanker off Oman
All three missing Indian seafarers have died after a U.S. military strike on a tanker in the Gulf of Oman, Indian Shipping Minister Sarbananda Sonowal said on Thursday.The U.S. said its military carried out a "precision" strike on the vessel that failed to follow its instructions and was carrying oil from Iran.Indian sources told Reuters that New Delhi had summoned the U.S.
Three More LNG Tankers Transit via Strait of Hormuz
Three more liquefied natural gas tankers have exited the Strait of Hormuz with their transponders off and are bound for destinations in Asia, although the exact timing of their transit is unclear, ship-tracking data from LSEG and Kpler showed.This comes as the United States and Iran traded air attacks for a second straight day on Thursday, with U.S. President Donald Trump vowing further strikes unless…
From Oil Importer to Export Leader: US Tops Global Oil Shipments
The United States has become the world's largest oil exporter, upending a decades-old order long dominated by Saudi Arabia and Russia, a shift that tightens American companies' grip on energy markets as Washington's war with Iran reshapes global energy trade.America's ascendancy to the top spot marks a stunning reversal for a country that was dependent on Middle Eastern oil for decades and suffered from an oil embargo imposed by some OPEC members in 1973 to retaliate against U.S.
Hormuz Reopening Could Trigger OPEC’s Next Big Challenge
Saudi Arabia and neighbouring Gulf producers will cheer the eventual reopening of the Strait of Hormuz, but the ensuing flood of oil risks eroding OPEC’s already fragile grip on the market.The Iran war and the closure of the vital waterway – through which nearly a fifth of the world’s oil and gas flowed before the conflict – have sharply diminished output from the Organization of the Petroleum Exporting…
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