GTT Receives Tank Design Order for Very Large Ethane Carriers
GTT announced that it received an order from Samsung Heavy Industries shipyard in the first quarter of 2026 for the tank design of two new Very Large Ethane Carriers (VLECs) on behalf of an Asian ship-owner.Each vessel will offer a capacity of 100,000 m³ and will feature cryogenic tanks designed by GTT, fitted with the Mark III membrane containment system.Delivery of the vessels is scheduled between the fourth quarter of 2028 and the first quarter of 2029.
NYK Invests in USV Startup Oceanic Constellations
NYK recently made an equity investment in Oceanic Constellations Inc. (OC) through a third-party allotment of new shares, funding expected to support OC’s efforts to establish a mass-production framework for unmanned surface vehicles (USVs), among other initiatives.OC, an ocean-tech startup, aims to establish a mass-production framework for USVs within the next few years. The large-scale production…
Lehmann Marine Provides Battery Systems for Hamburg Electric Harbor Ferries
Lehmann Marine is contributing to the Port of Hamburg's transition towards sustainability by supplying the battery systems for three new, fully electric passenger ferries. This project represents the largest order in the company’s history. Built by SET Schiffbau- und Entwicklungsgesellschaft Tangermünde mbH on behalf of HADAG Seetouristik und Fährdienst AG, the vessels will be deployed in the Port of Hamburg as HADAG’s first purely electrically propelled ferries.
LR Advisory, Geogas Trading Improve Operationalization for FuelEU Pooling
Lloyd’s Register (LR) Advisory has been appointed by Geneva-based LPG trader and shipowner Geogas to support the development of a multi-year emissions compliance plan and operationalization of FuelEU pooling, as it prepares for the first compliance cycle of FuelEU Maritime.Under the agreement, LR Advisory will provide insight into the commercial implications of current and forthcoming emissions regulations, alongside targeted knowledge transfer to build internal capability.
Seatrium Unit Launches Arbitration Against Petrobras over FPSO Contract
Seatrium, through its wholly owned subsidiary Jurong Shipyard, has started arbitration proceedings against Petrobras Netherlands in connection with a legacy contract for the conversion of the P-54 floating production, storage and offloading vessel (FPSO).The dispute relates to a settlement agreement reached in 2008 following amendments to the original 2004 contract. Under the settlement, Petrobras Netherlands agreed to pay Jurong Shipyard a close-out amount of $152.3 million…
Valenciaport Sees Record Container Volumes in '25
Spain’s Valenciaport closed the 2025 financial year with higher revenues, sharply improved profitability, and a new record for container throughput, underscoring continued carrier commitment despite a volatile global trade backdrop.Provisional results reviewed by the board of directors show net turnover rising 9.02% year over year to €164.3 million, while pre-tax profit climbed 50.51% to €43.7 million.
China's Appetite for Coal Wanes
Coal-fired power generation decreased 1.9% in 2025; non-fossil generation outpaces demand growthChina's coal-fired power generation decreased 1.9% in 2025, marking a historic shift driven by new non-fossil generation that has finally outpaced demand growth, according to a recent report from Wood Mackenzie.Power demand grew 5% in China in 2025, or 494 TWh, yet for the first time in a decade, coal-fired power generation did not increase to help meet this demand.
Fincantieri Unit WASS Wins $237M Saudi Navy Torpedo Contract
Fincantieri said its subsidiary WASS Submarine Systems has secured a contract worth more than $237 million euros to supply MU90 lightweight torpedoes to the Royal Saudi Naval Force.The agreement, awarded by Saudi Arabia’s Ministry of Defense, represents the largest contract in WASS’s 150-year history and includes the supply of torpedoes and associated logistics support services.Deliveries are scheduled between 2029 and 2030 and will be managed from WASS’s facility in Livorno…
Despite Sea Disputes, Philippines, China Tensions Calm
The Philippines' ambassador to the United States on Tuesday underscored the need to "cool" the temperature with China, after both sides signaled their willingness to set aside tensions in the South China Sea and explore areas of economic cooperation.Ambassador Jose Manuel Romualdez said Manila's relationship with Beijing should not be defined solely by maritime disputes, even as the Philippines continues…
Transocean-Valaris Tie-Up to Create $17B Offshore Drilling Major with 73 Rigs
Offshore drilling contractor Transocean has agreed to acquire Valaris in an all-stock transaction valued at about $5.8 billion, creating one of the world’s largest offshore drilling contractors with a fleet of 73 drilling rigs.The combined company will have an enterprise value of roughly $17 billion, with Transocean shareholders expected to own about 53% of the merged entity and Valaris shareholders…
Anemoi, COSCO Shipping Deepen Wind Propulsion Collaboration
Anemoi Marine Technologies and COSCO Shipping Heavy Industry have renewed a framework agreement to expand collaboration on the installation of rotor sail wind-propulsion systems across COSCO Shipping subsidiary shipyards.The renewed agreement builds on cooperation that began in 2022, during which the companies completed the installation of nine rotor sails at COSCO Shipping Heavy Industry yards, including…
WiseTech Global and Hapag-Lloyd Launch IoT Container Tracking Pilot
Supply chain technology solutions company WiseTech Global has partnered with Hapag-Lloyd to trial the integration of Internet of Things (IoT) technology for real-time global container visibility, tracking and data collection.Hapag-Lloyd’s fleet of 2 million containers are equipped with IoT devices that frequently transmit location updates directly to WiseTech’s ecosystem of platforms for the logistics, global trade and supply chain industry.
Korea Advances International Standards for Ammonia Effluent Discharge
While the IMO has established interim guidelines to facilitate the use of ammonia as a marine fuel, international standards governing the safe treatment and discharge of toxic ammonia effluent generated during vessel operations have yet to be developed.Unlike typical aqueous ammonia, this effluent exhibits different physical and chemical characteristics, and the lack of clearly applicable international standards has created uncertainty for ship design…
Activity Increases in Ship Recycling Yards
The weekly roller coaster that has become the global marketplace went through its regular gravitational drop this week, with the U.S. dollar taking the “cement-footed diving approach” in all ship-recycling destinations… except Turkey, reports cash buyer GMS.The Baltic Exchange Dry Bulk Index fell 0.7% down to a two-week low, dragged by the Capesize index, which fell 1.1% over the week. The Panamax index slipped 0.4%, while the Supramax index rose 0.2%. Meanwhile, easing tensions between the U.S.
Stowaway Cocaine Smuggler Caught San Juan Harbor
The U.S. Coast Guard and partner agencies apprehended a stowaway smuggler and seized 10 bales of cocaine in San Juan Harbor, Puerto Rico, on January 28.The seized contraband weighed a combined total of 358kg/789.25 pounds and is estimated to have a wholesale value of more than $5 million. The apprehended suspect faces federal prosecution on drug trafficking charges.Sector San Juan Command Center watchstanders…
IBIA Announces Results of Board Member Elections at AGM
IBIA – International Bunker Industry Association Board announced the outcome of their elections at the IBIA Annual General Meeting (AGM), ahead of the IBIA Annual Dinner at the Grosvenor House Hotel in London’s Park Lane.A total of eleven candidates stood for election for the four available Board positions. Following the close of voting, it is confirmed that the following candidates have been elected/re-elected to serve a three-year term on the IBIA Board:Claudia Beumer…
Keel Laying Ceremony Held for U.S. Army Corps of Engineers Hopper Dredge
On January 22, 2026, Eastern Shipbuilding Group (ESG) and partners, U.S. Army Corps of Engineers (USACE) and Royal IHC, held a keel laying ceremony for the ongoing construction of the Dredge DONNELLY at Eastern’s Allanton Facility.The DONNELLY is a Medium Class Hopper Dredge that has been under construction since April 2025. The vessel will replace the Dredge McFARLAND and will play a critical role…
EU Proposes Extending Sanctions on Russian Oil to Georgian, Indonesian Ports
The EU has proposed extending its sanctions against Russia to include ports in Georgia and Indonesia that handle Russian oil, the first time it would target ports in third countries, a proposal document showed on Monday. The proposal, reviewed by Reuters, wouldadd Kulevi in Georgia and Karimun in Indonesia to the sanctions list, meaning European companies and individuals would be barred from carrying out transactions with the two ports.The sanctions package…
Russian Oil Tankers List Singapore as Destination, Export Flows Shift to China
Russian oil tankers are increasingly listing Singapore as their official destination, signalling a shift in export flows from India to China and growing concerns over Western sanctions, traders said and LSEG shipping data shows.LSEG data shows tankers carrying about 1.4 million metric tons of Russian crude departed for Singapore in January, the highest monthly volume in recent years.Singapore doesn't import Russian oil amid sanction risks…
US Boards Another Venezuela-Linked Tanker in Indian Ocean without incident
U.S. military forces boarded a crude oil tanker in the Indian Ocean after pursuing it from the Caribbean, Defense Secretary Pete Hegseth said on Monday, accusing the vessel of breaching Washington's blockade on sanctioned vessels traveling to or from Venezuela."Overnight, U.S. military forces conducted a right-of-visit, maritime interdiction and boarding on the Aquila II without incident " Hegseth wrote in a post on X.
