“Welcome to a Dying Industry”
“Welcome to a dying industry” is the advice that Rik van Hemmen, as a young professional starting with Martin & Ottaway, received from a group of grizzled veterans at an industry event in New York City. But van Hemmen is the furthest from a conventional thinker, so he thanked them for their advice, pointed out that they were old, they would be gone soon and whatever was left was his. Though his maritime journey is long…
Gulf Oil Producers Build Tanker Fleet as Security Risks Mount Around Hormuz
Gulf oil producers are assembling a fleet of nearly 230 tankers to maintain crude exports through the Strait of Hormuz despite heightened security risks and reluctance among independent shipowners to operate in the region, according to a weekly intelligence report from Windward Maritime dated October 29.The report identifies five maritime developments, including changes to Gulf oil transportation, an oil spill threatening infrastructure in the United Arab Emirates…
IMCA Launches 2030 Strategy to Guide Offshore Construction Industry
The International Marine Contractors Association (IMCA) has launched IMCA 2030, a four-year strategy designed to ensure the association remains relevant, authoritative, and valuable to members as the offshore construction industry navigates a period of significant change.Launched at the IMCA Global Summit in Antwerp, Belgium, the strategy responds to major industry trends including the growth of AI and automation…
FMD: Solving the Navy’s Tough Problems
The quest to rebuild the U.S maritime manufacturing infrastructure and the U.S. Navy in tandem is not for the faint of heart, as the process will be neither short nor cheap. But stepping up for the challenge are companies like Fairbanks Morse Defense (FMD), and company under the guidance of CEO George Whittier has evolved to become a multi-faceted supplier and partner to the U.S. Navy and navies around the world…
QatarEnergy Purchases Long-Term LNG Supplies In Case of Future Hormuz Disruptions
QatarEnergy is buying long-term supplies of liquefied natural gas from the US and other producers as part of a trading strategy designed to generate revenue if exports through the Strait of Hormuz are disrupted in the future, CEO Saad Sherida Al-Kaabi told Reuters on Thursday."In a scenario where you have a closure of the strait, which is the true contingency that we're looking to have, you'd immediately…
Greece Encourages Global Truce After Drone Attack Sinks Container Ship
Greek Prime Minister Kyriakos Mitsotakis called on Wednesday for a global maritime truce after a drone attack sank a Greek container ship off Bulgaria, the latest of a series of strikes on ships in the western Black Sea this month.Speaking at a high-level debate of the Greek presidency of the UN Security Council on maritime security, Mitsotakis said commercial vessels must be able to navigate safely…
Dockworkers Strike Against Arms Shipments at More Than 100 Ports Globally
Dockworkers in 22 countries will strike on Friday, protesting against war and the use of ports for arms exports in action organisers say could disrupt over 40% of Mediterranean cargo and snarl over $2 billion worth of freight.The strike, originally called by dockworkers' unions in Italy, France, Greece, Spain's Basque Country, Turkey and Morocco, is now backed by more than 25 unions in 113 ports.The protest is expected to target major shipping hubs across Europe and beyond…
ABB Powers Third Hybrid Washington State Ferry Newbuild
ABB has received Notice to Proceed from Washington State Ferries (WSF), the largest ferry operator in the United States, to supply and integrate the power and propulsion system for third hybrid-electric newbuild ferry. This expands ABB’s involvement in the program from two vessels to three and is part of WSF’s broader plan for up to 16 new hybrid electric ferries by 2040.As with the first two vessels…
Tullow Oil Taps DeepOcean for Subsea Riser Job off Ghana
DeepOcean has secured a contract from Tullow Ghana to carry out subsea gas lift riser retermination work at the Jubilee field offshore Ghana, using its recently upgraded Orient Adventurer subsea construction vessel.The project involves a gas lift riser connecting the Kwame Nkrumah floating production, storage and offloading (FPSO) vessel to the Jubilee subsea production system, with offshore operations scheduled for the fourth quarter of 2026.DeepOcean's scope includes project management…
DNV Finds Aker BP, Höegh Evi's Offshore CO2 Injection Concept Feasible
DNV has issued a Statement of Feasibility for Aker BP and Höegh Evi's concept to transport liquefied carbon dioxide (CO2) by shuttle carriers and inject it directly into subsea wells for permanent storage at the Atlas project offshore Norway.The assessment covers the offshore infrastructure required to transfer CO2 from vessels into the reservoir, with DNV concluding that the main technical challenges…
Vard Launches New Energy Construction Vessel for Norwegian Owner
Shipbuilder Vard has launched a new energy construction vessel (ECV) being built for Wind Energy Construction, a Norwegian company partly owned by the founders and owners of Norwind Offshore, with delivery scheduled for the second quarter of 2027.The vessel, designated NB985, was successfully launched on October 27 and is under construction at Vard Vung Tau in Vietnam, Vard announced.Based on Vard's VARD 3 11 design, the vessel is intended for offshore wind and subsea operations, including inspe
Subsea Vessel Market: Shifting Dynamics + Fleet Expansion
We are entering in interesting period in the subsea vessel market, as contract backlog among the EPCs continue to rise to new all-time highs, existing long-term contracts are coming up for renewals, and a wave of newbuilds are closing in on delivery. On the top end, the market dynamics are changing as the Tier 1 EPC landscape is consolidating, while the fleet is expected to see a net growth of more…
Dry Bulk Market: Escalating Attacks Heighten Uncertainty
"Geopolitical disruptions continue to cloud the dry bulk market outlook. The effective closure of the Strait of Hormuz remains the largest source of uncertainty, while attacks on ships and port infrastructure in the Black Sea have added another layer of risk,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Typically, around 4% of dry bulk demand sails via the Strait of Hormuz. Alternative routes have softened the impact of the disruption but have been unable to replace pre-war volumes.
Electric Container Barge Launched in Vietnam
CMA CGM, Nike and Vietnamese port operator Gemadept have launched a fully electric inland container barge service connecting Ho Chi Minh City with the Gemalink deep-sea terminal at Cai Mep, combining battery propulsion, dedicated charging infrastructure and renewable electricity.The barge will transport Nike cargo between an inland drop-off location in Ho Chi Minh City, formerly part of Binh Duong province…
Three Bodies Found in Sunken Borr Drilling Rig Off Gabon, Two Still Missing
Three bodies have been located inside the wreck of Borr Drilling's Prospector 5 jack-up rig, which sank offshore Gabon on October 24, with search and rescue operations continuing for two people still missing.The bodies were discovered during underwater inspections using a remotely operated vehicle (ROV), Vice-Admiral Charles Hubert Bekale-Meyong, chief of staff of the Gabonese Navy and commander of the search-and-rescue operation…
Built for the Dead Sea: Purpose-Built Workboat for Extreme Ops
ECTMarine delivered a purpose-built workboat to Arab Potash Company (APC) in Jordan following successful site acceptance testing (SAT).The SAT of the Custom Workboat 104 was completed last week on APC's brine evaporation ponds at the Dead Sea. APC was represented on site by its main contractor, Alghanem.Designed and built in the Netherlands, the workboat was tailored to the conditions at the Dead Sea…
