Oil Prices Fall As US-Iran Talks Appear to Go Well
Oil prices fell on Wednesday as optimism over U.S.-Iran talks eased supply concerns after U.S. President Donald Trump said meetings in Qatar had gone well.Brent futures were down 95 cents, or 1.30%, to $72.00 a barrel at 0119 GMT. U.S. West Texas Intermediate crude was down 54 cents, or 0.78%, at $68.96 a barrel — its lowest since February 27."The negotiations that are currently taking place in Qatar are perceived as being positive (and) that has allowed prices to drift further…
Controversial $3.6B, China-backed Dam Project Restarted
Myanmar's new government aims to complete within roughly eight years a contentious $3.6 billion dam project at Myitsone in northern Kachin state, said two sources with knowledge of comments by Khet Htein Nan, who leads the state administration.The comments came after junta chief turned president Min Aung Hlaing returned from a visit last month to China, which has long sought to build the massive hydropower project in the northermost province of the war-torn country."It will begin shortly…
Top 10 Tips to Navigate UK ETS - Navtor
If you’re viewing today’s arrival of UK ETS with mounting unease, fear not! NAVTOR’s Performance Director Jacob Clausen is here to help simplify complexity, turning compliance challenges into commercial gain. How do you feel about adding another layer of complexity on top of your existing regulatory reality? Not too excited, I imagine.The arrival of the UK Emissions Trading Scheme (UK ETS) for parts of the shipping sector (cargo and passenger vessels over 5…
WinGD Books Engine Order for 12 Dynacom's VLCC Newbuilds
Swiss marine engine designer WinGD has secured an order to supply main engines for 12 very large crude carriers (VLCCs) being built at China's Hudong-Zhonghua Shipbuilding for Greek tanker owner Dynacom.Each vessel will be fitted with a WinGD 6X82-2.0 low-speed engine, alongside exhaust gas scrubbers and high-pressure selective catalytic reduction (SCR) systems to meet current International Maritime…
Svanehoj Lands First LNG Carrier-to-FSU Conversion Job
Danish marine equipment supplier Svanehoj has secured its first contract to supply LNG tank gauging systems for the conversion of a liquefied natural gas (LNG) carrier into a floating storage unit (FSU).The company will deliver four LNG density and temperature (LTD) gauging systems to Drydocks World Dubai for the conversion of the LNG carrier LNG Bayelsa into the FSU Cap Lopez.The conversion is being…
Offshore Rocket Recovery Vessel Studied
NYK and Graduate School of Engineering The University of Osaka Launch Joint R&D Initiative on Offshore Recovery Systems for Reusable RocketsNYK and the University of Osaka launched a collaboration on July 1, 2026, to advance an offshore recovery system for reusable rockets being developed by NYK under a Space Strategy Fund project of the Japan Aerospace Exploration Agency. Through this collaboration…
DOF Bags TotalEnergies Contract for FSO Replacement Project
DOF Group has secured a contract from TotalEnergies to provide subsea construction and mooring services for the floating storage and offloading (FSO) Unity Replacement Project.The contract covers engineering, transportation and installation of mooring systems, as well as subsea construction work, including the disconnection of the existing floating storage and offloading (FSO) unit and the connection…
Walter Takes CEO Helm at MEYER WERFT
A leadership transition is complete at German shipbuilder MEYER WERFT as André Walter officially assumed the role of Chief Executive Officer on July 1, succeeding Bernd Eikens, who retired after leading the company through its financial restructuring.Walter joins MEYER WERFT from Airbus, where he most recently served as CEO of Airbus Aerostructures GmbH and Airbus GmbH in Hamburg. An engineer by training…
Nord Gas to Supply LNG Regasification System for Exmar FSRU Conversion
Nord Gas Solutions has secured a contract to supply an LNG regasification system for Belgium-based Exmar as part of the conversion of a floating storage regasification unit (FSRU) that will support the expansion of the EemsEnergyTerminal in Eemshaven, the Netherlands.The order, booked in the second quarter of 2026, covers the delivery of a regasification system module that will be installed on the converted FSRU to boost LNG import capacity at the Dutch terminal.Exmar said the project forms part
MacGregor Expands Offshore Crane Modernization Backlog
MacGregor has secured a series of offshore load handling modernization and upgrade contracts during the first half of 2026, strengthening its position in the offshore services market.The contracts, booked in the company's first- and second-quarter 2026 order intake, cover engineering, upgrades and modernization projects aimed at improving the performance and extending the operational life of offshore…
Container Ship Runs Aground Outside Iran-Approved Hormuz Route
Iran's state media said on Wednesday a foreign container ship ran aground in the Strait of Hormuz after entering shallow waters outside the shipping route designated by Iranian authorities.State media reiterated the Revolutionary Guards' warning that vessels should transit only through the corridor south of Iran's Larak island, which Tehran says is the sole approved entry and exit route for ships passing through the strait.(Reuters - Reporting by Dubai Newsroom; Editing by Alex Richardson)
MOL, IBM Japan Launch AI Platform for Vessel Operations
Mitsui O.S.K. Lines (MOL) and IBM Japan have jointly developed an artificial intelligence (AI)-powered platform designed to support decision-making in vessel operations by integrating operational, weather and geopolitical information.The platform, which went live on July 1, is centered on MOL's Safety Operation Supporting Center (SOSC), which monitors and supports the safe operation of MOL-affiliated vessels worldwide.The companies said the platform consolidates weather and sea condition data…
Aker Solutions Secures Offshore Wind HVDC Substructure Contract
Aker Solutions has been awarded a substantial contract to deliver a high-voltage direct current (HVDC) substructure for a European offshore wind project by an undisclosed customer.The company's scope of work includes engineering, procurement and construction.Aker Solutions said it will book the award as order intake in the second quarter of 2026 in its Renewables and Field Development segment.The company…
