Stay informed with real-time maritime industry updates
Offshore Energy
Velesto Energy has been contracted to provide a jack-up rig for a drilling campaign off the coast of Malaysia, as reported by Offshore Energy. This move highlights Velesto's role in Southeast Asia's offshore drilling sector.
Seatrade Maritime
Yang Ming Marine's profits plummeted by 81.5% in the first quarter, largely due to decreased freight rates and strategic redeployments amid Middle East tensions, as reported by Seatrade Maritime.
Seatrade Maritime
Norsepower CEO Heikki Pöntynen emphasizes the importance of wind propulsion in achieving shipping's net zero future, as China's decarbonisation target marks a significant regulatory milestone, according to Seatrade Maritime. This development is seen as crucial for international shipping regulations.
Offshore Energy
Solstad Offshore has emerged victorious in an arbitration concerning a disputed 2024 charter hire, as reported by Offshore Energy. The legal battle involved the largest vessel in Solstad's fleet.
gCaptain
China is advocating for the Strait of Hormuz to remain open without restrictions or tolls, as reported by gCaptain. U.S. Trade Representative Jamieson Greer expressed confidence that Beijing would act to limit material support for Iran during a live interview with Bloomberg News.
Splash247
Coal's significance as an energy security asset has been reassessed due to the Hormuz crisis, as discussed at Geneva Dry, according to Splash247. The session, moderated by Benjamin Wilkes of d'Amico Dry, highlighted the changing dynamics in seaborne coal and dry bulk shipping demand.
Splash247
Yangzhou Guoyu Shipbuilding has signed a contract with Shanghai Changshun Shipping for six 6,150 teu containerships, with options for four more, as reported by Splash247. This deal marks another step in the shipyard's recovery and growth following its restructuring and new ownership.
Splash247
Seven large LNG carriers built between 2005 and 2006 have been sold following disruptions in the Strait of Hormuz, which have tightened global LNG availability, as reported by Splash247. Rising Universe Shipping, managed by Dongtinghu Shipping, has emerged as a buyer in one of the recent transactions.
Splash247
Splash247 reports that the Strait of Hormuz has become more perilous and restricted, with no signs of easing tensions. Meanwhile, Donald Trump discussed his conflict with Iran during a state visit to Beijing, and federal prosecutors charged Synergy Marine from Singapore with criminal offenses.
Offshore Energy
Equinor has received approval from Norwegian authorities to commence drilling operations on the Norwegian Continental Shelf using a semi-submersible rig owned by Transocean, as reported by Offshore Energy. This clearance marks a significant step for the state-owned energy giant's exploration activities.
