“During the first two months of 2025, bulker newbuilding contracting dropped 92% y/y to the lowest level in at least 30 years. While contracting in January was low, no new ships were ordered in February. Weak freight rates, high newbuilding prices…
Read more
Hanwha Ocean Delivers Overhauled U.S. Navy Vessel
Hanwha Ocean has delivered the overhauled U.S. Navy Vessel Wally Schirra, setting a new milestone in Korea’s shipbuilding industry for the first ever maintenance, repair, and overhaul (MRO) project for the U.S. Navy, completed in just six months.The MR...
Read more
Greece to Buy Four New Submarines
Greece will spend more than 25 billion euros in arms procurements by 2036, including new submarines, drones, satellites and fighter jets, under a 12-year plan to be submitted to parliament in the coming weeks, three officials with knowledge…
Read more
Chairman Wicker Says CR Defense Spending Inadequate
U.S. Senator Roger Wicker, R-Miss., the Chairman of the Senate Armed Services Committee, has offered his perspective on the need for additional defense spending to account for the continuing resolution’s (CR) inadequate funding for the military.In his ...
Read more
ABS Approves Hanwha Cybersecurity Solution
ABS issued a Type Approval for IACS UR E27 cyber resilience requirements to Hanwha Systems for its cybersecurity solution, SecuAider®.Hanwha Systems’ SecuAider® is a software solution that offers protection to a vessel’s data and networks from advanced...
Read more
Panama Canal Fees Drop as Capacity Recovers
Fees for vessels to pass through the Panama Canal this year are 15% below last year's levels as the waterway now has more capacity to move cargoes, the head of the Panama Canal Authority, Ricaurte Vasquez, said on Wednesday in a video conference.A…
Read more
Video Captures Ship Impact on Stena Immaculate
Newly released video footage captured by advanced AI-powered cameras has provided crucial insights into the collision between the container ship MV Solong and the U.S.-flagged tanker Stena Immaculate off the port of Grimsby earlier this week.The footag...
Read more
Salvage Ops Set to Begin as Fire Diminishes on Stena Immaculate Tanker
A fire onboard the Stena Immaculate oil tanker has greatly diminished with no visible flames, as initial salvage activities begin in the North Sea, the manager of the vessel Crowley reported.Crowley said it is working closely with U.K. agencies to supp...
Read more
Vessel Captain Arrested in UK Ship Crash a Russian National, owner says
The ship's captain arrested in connection with a crash into a U.S. flagged tanker off the coast of England is a Russian national, the German company which owns the vessel said on Wednesday.The Solong crashed into the Stena Immaculate, a tanker carrying...
Read more
InterManager Survey Targets On-Going Enclosed Space Risks
InterManager has collaborated with The Nautical Institute and IMarEST have launched an industry-wide survey which aims to collate feedback from those working on ships about enclosed space risks.The detailed online survey, which can be completed anonymo...
Read more