Oil Prices Lower Ahead of Possible US-Iran Peace
Oil prices eased on Thursday after earlier gains as markets assessed the escalating conflict between the U.S. and Iran and its implications for efforts to end the war and fully reopen the Strait of Hormuz.Brent crude futures were down 11 cents, or 0.1%, to $77.91 a barrel at 1322 GMT. U.S. West Texas Intermediate crude futures dropped 38 cents, or 0.5%, to $73.14 a barrel.Brent and WTI crude futures hit their highest levels since June 22 on Wednesday.Still…
US Natural Gas Prices Drop to Six Week Low
U.S. natural gas futures fell about 4% to a six-week low on Thursday on expectations gas flows to liquefied natural gas (LNG) export plants will remain low through late August due to planned maintenance at Freeport LNG's plant in Texas, and after the release of a federal report showing last week's storage build was much bigger than expected.Front-month gas futures for August delivery on the New York Mercantile Exchange fell 13.9 cents…
Steerprop Receives Propulsor Order for Third Med Marine Tugboat
Finnish marine propulsion company Steerprop remains as a supplier for a series of tugboats being built by Turkish shipyard group Med Marine, securing a repeat order for two Steerprop SP 175 T propulsors for the third vessel in the series.The contract follows a similar scope of delivery for the first two vessels, which entered service in 2024 and were the first to deploy Steerprop’s T-series propulsors tailored for the tugboat market.
Tanker Vessel Contracting Hits Record High
“So far this year, crude tanker newbuilding contracting has reached 60m deadweight tonnes (DWT) across 234 ships, driven by a surge in orders for Very Large Crude Tankers (VLCCs). This already makes 2026 the year with the highest crude tanker contracting on record. High freight rates and the need to replace an increasingly older fleet have both encouraged contracting,” says Filipe Gouveia, Shipping…
Concordia Damen to Build Two River Cruise Vessels for TUI River Cruise
Dutch shipyard Concordia Damen announced it has received a contract from TUI River Cruise for two CDS River Cruise 135 vessels. These cruisers are of in-house design and have been tailored to TUl's needs.TUI River Cruises' fleet is currently expanding from six to 10 ships, which will operate across Europe, the Rhine, Nile and the Douro. The two river cruisers that Concordia is constructing are designed for the UK market.These two newbuilds are constructed with methanol as a future fuel in mind.
HDI Global US Restructures Underwriting Leadership
As part of its repositioning in the United States under the Xcelerate29 strategy, HDI Global (HDI) has appointed Bevan Greibesland as Chief Underwriting Officer, Specialty Lines, and Bruce Griffin as Chief Underwriting Officer, Long Tail Lines. The appointments follow the recently announced leadership and organizational changes at HDI Global US. As HDI Global continues to grow its US business, both…
cruisePAL Restructures Senior Leadership Team
cruisePAL announced a restructuring of its senior leadership team. Effective immediately, Sankar Ragavan transitions from President & CEO to serve as President of cruisePAL, focusing on group-level strategy, investor relations, and the long-term vision of the platform. Jimmy Lopez, Chief Executive Officer (CEO), will take full ownership of cruisePAL's executive leadership and day-to-day business direction.
Saitec Tests Nature Inclusive Design Installations at Floating Wind Platform
Saitec Offshore Technologies, through DemoSATH Lab, is using its operating floating wind demonstrator as a real-scale testing ground to study environmental interactions, improve monitoring methods, and explore solutions that support coexistence with marine biodiversity.Following the successful deployment of biomimetic reef solutions on the submerged section of the platform, the company is now testing…
In the Heat of the Summer, Cool Carriers Receives Snow Flake
Cool Carriers has taken another step in its fleet renewal strategy with the delivery of MV Snow Flake, the second vessel in its next-generation Snow-class series, reinforcing the company's position as the world's largest operator of specialized refrigerated cargo vessels.The vessel was officially named June 29 at Kitanihon Shipbuilding in Japan, just three months after the delivery of sister ship Snow Flower.
Ports of Indiana Secures $25m Federal Grant to Support Expansion
Ports of Indiana has been awarded a $25 million federal “BUILD” grant from the U.S. Department of Transportation (USDOT) to support a $32 million expansion of its Jeffersonville port. This grant is the largest federal award in Ports of Indiana’s 65-year history.The BUILD program (Better Utilizing Investments to Leverage Development) is administered by USDOT to provide grants for surface transportation infrastructure projects with significant local or regional impact.
Glamox Acquires UK Defense Lighting Specialist Consolite
Norwegian lighting specialist Glamox has agreed to acquire U.K.-based Consolite Technology, expanding its naval and defense business with specialized military lighting and optical communication technologies.Consolite develops military lighting and optical communication systems for naval and defense applications. Its portfolio includes night vision technology, military LiFi systems and specialist lighting…
Axess Secures Work on Two Golar LNG’s FLNG Assets
Axess Group has been selected by Golar LNG to carry out maintenance build and integrity management work across two floating liquefied natural gas (FLNG) assets following competitive tender processes.For the MK II FLNG, Axess will provide maintenance build services, including the development of an asset hierarchy and asset register, as well as maintenance and inspection programs aimed at supporting long-term asset integrity and operational reliability.Separately…
Methanol-Ready Arctic Tern PCTC Joins Wallenius Wilhelmsen Fleet
Roll-on/Roll-off (RoRo) shipping and vehicle logistics group Wallenius Wilhelmsen has taken delivery of Arctic Tern, the first dual-fuel methanol-ready vessel in its new Shaper Class series.Arctic Tern vessel offers greater cargo capacity and improved operational efficiency and will be deployed through EUKOR Car Carriers, the shipping line jointly owned by Hyundai Motor Group and Wallenius Wilhelmsen.Following delivery…
US Moves Forward with Delfin LNG Deepwater Port License
The U.S. Department of Transportation's Maritime Administration (MARAD) has decided to move forward with issuing a deepwater port license to Delfin LNG after a federal appeals court denied review of a legal challenge by environmental groups.The U.S. Court of Appeals for the Fifth Circuit denied the review, allowing MARAD to continue work toward issuing the license for the Delfin LNG deepwater port.Delfin FLNG 1 is planned as the first offshore LNG export project in the United States…
TotalEnergies Ships First ECA LNG Cargo from Mexico to Asia
TotalEnergies has shipped the first cargo produced by the ECA LNG Phase 1 export terminal on Mexico's Pacific coast to Asia as the facility undergoes commissioning.The company holds a 16.6% stake in the project alongside operator Sempra Infrastructure and will offtake 1.7 million tonnes per annum of LNG for 20 years from the start of commercial operations.TotalEnergies will be the sole LNG offtaker during the project's ramp-up phase.ECA LNG Phase 1…
Hormuz Standoff Risks Chronic Instability for Gulf Oil Flows
The possible collapse of U.S.-Iran peace talks and the stop-start flow of tankers through the Strait of Hormuz are a nightmare scenario for Gulf nations desperate to return to normal after a bruising multi-month conflict.What was meant to mark the start of a fragile recovery following the June 17 memorandum of understanding between Tehran and Washington is instead evolving into a period of chronic instability…
Projectile-Hit Qatari LNG Tanker Awaits Rescue Off Oman
A Qatari LNG tanker remained stranded off Oman on Wednesday after a projectile strike sparked a fire in its engine room, though industry sources said the vessel's cargo appeared secure and the risk of an explosion was low for now.The attacks on the tankers prompted Washington to revoke a licence allowing Iran to sell oil and U.S. forces to strike Iranian targets overnight. President Donald Trump said on Wednesday an interim agreement to end the war with Iran was "over"…
FMC Decision Upheld That Detention Fees During Port Closure Are Unfair
The U.S. Court of Appeals for the D.C. Circuit recently issued a decision upholding the Federal Maritime Commission’s (FMC) determination that detention fees levied on a trucker by an ocean common carrier during a three-day port closure were unreasonable. The federal appeals court unanimously denied all aspects of the petition filed by the carrier, Evergreen Shipping Agency (America) Corp., that challenged the FMC’s order…
Kongsberg Maritime, BCIT Invest in Future Marine Innovation Simulation Centre of Excellence
KONGSBERG, Kongsberg Maritime, and British Columbia Institute of Technology (BCIT) announced an investment that will establish the Marine Innovation Simulation Centre of Excellence (MISE) in British Columbia. The initiative is designed to strengthen maritime innovation and skills development, support ongoing research and development, while building on key objectives outlined in Canada’s Defence Industrial…
AIDAmar Cruise Ship Docks at Damen Shiprepair for Bottom Survey
AIDA Cruises’ vessel AIDAmar docked at Damen Shiprepair Rotterdam’s Botlek location for her annual bottom survey while carrying around 2,000 passengers on board.The vessel departed the German port of Warnemünde on July 3, for a five-night voyage, and entered the yard’s drydock number 6 on July 5. Once she was in position, the drydock was emptied, allowing yard personnel to carry out the inspection.During the inspection…
