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Commodities ExxonMobil Proposes 35-Well Exploration Campaign Offshore Guyana in Stabroek Block
US supermajor ExxonMobil has proposed a new exploration and appraisal drilling campaign in the Stabroek block offshore Guyana, involving 35 wells across four prospect areas. The campaign is scheduled from 2028 to 2033, with a 28-day public consultation period opened by the Guyana Environmental Protection Agency. ExxonMobil currently produces 900,000 barrels per day in Guyana and plans to increase capacity to 1.7 million bpd by 2030.
Logistics DP World Eyes Return to US Port Operations With Corpus Christi Terminal Talks
DP World has entered exclusive negotiations to develop and operate a new container terminal at the Port of Corpus Christi, Texas, signalling a potential return to US port operations two decades after a political controversy forced it to sell its American assets. The move, confirmed by DP World Americas CEO Brian Enright, comes as the port diversifies beyond traditional energy and agricultural cargoes. Separately, DP World is also reportedly interested in Maher Terminals at the Port of New York and New Jersey.
Logistics Shearwater Geoservices Secures $40M Capital Injection in Debt Restructuring Deal
Norwegian offshore seismic vessel player Shearwater Geoservices has reached an agreement with lenders and stakeholders to amend its capital structure. The deal includes a $40m capital injection, debt repayment extensions, and relaxed covenant terms, materially improving the company's liquidity outlook and financial flexibility.
Commodities Caspian Offshore Construction expands fleet with newbuild AHTS
Kazakhstan-based offshore marine service provider Caspian Offshore Construction (COC) has acquired a new anchor handling tug supply (AHTS) vessel, the Caspian Yili, from Sinopacific Engineering & Contracting. The vessel, featuring 90 tonnes of bollard pull and DP2 capability, is the company's largest and is expected to join the fleet in Q4 2026. The acquisition supports COC's strategy to expand in international offshore markets.
Logistics Diana Shipping Scales Back Genco Campaign Ahead of Crunch Shareholder Vote
Diana Shipping has withdrawn four of its six director nominees for Genco Shipping & Trading's board election, leaving only Jens Ismar and Paul Cornell. The move comes after all three major proxy advisory firms recommended shareholders support Genco's slate. The outcome of the June 18 vote could determine the future of Diana's tender offer for Genco.
Technology PXGEO Partners with Equinor for Autonomous Subsea Trials
PXGEO has entered a one-year agreement with Equinor to conduct autonomous subsea inspection trials using the Saab Sabertooth. This marks PXGEO's first venture into unmanned operations, with initial tests set to take place in Norway.
Logistics Greek Capesize Owner NGM Flips Vintage Bulker for $17.4M in Firm Market
Greek capesize owner NGM sold the 2003-built vessel Charm to Chinese interests for around $17.4 million, more than $7 million above its purchase price in 2020. The sale is part of an accelerating shake-out of Greek capesize owners cashing in on historically firm asset values. Several other vintage capesize bulkers have changed hands recently.
Business Balaena Expands UK Shipbuilding with APCL Acquisition
Balaena has acquired APCL Group, enhancing its shipbuilding and repair capabilities in the UK. This strategic move consolidates key shipyards and supports future maritime investments.
Logistics Huaxia Financial Leasing Seeks Yard Slots for Six Newcastlemaxes
Huaxia Financial Leasing is seeking yard slots for six newcastlemax bulk carriers, marking a significant expansion in the dry bulk sector. The Beijing-based company has launched a tender for vessels with a price cap of $79.5 million each.
Logistics Samsung Heavy Secures $2.9bn Contract for US FLNG Project
Samsung Heavy Industries has signed a $2.9 billion contract to construct the Delfin FLNG Unit 1, the first floating liquefied natural gas unit in the United States. The project, involving Mitsui O.S.K. Lines and Delfin Midstream, is set to begin production in 2030.
Technology ELNAV.AI Advocates AI for Safety, Not Surveillance in Shipping
ELNAV.AI, led by Hrvoje Mihovilović, focuses on integrating AI into shipping to enhance safety and operational efficiency. The company advocates for AI systems that support human operators rather than replace them, emphasizing the importance of practical applications over autonomous ambitions.
Commodities UK Seeks Developer for 1.5GW Offshore Wind Project
The UK Crown Estate is launching a tender to find a new developer for the Morgan offshore wind site in the Irish Sea, capable of generating 1.5GW. The previous developers, EnBW and JERA Nex BP, exited the project earlier this year.
Logistics TGS Wins European Offshore Wind Site Characterisation Contract
TGS has secured a contract for offshore wind site characterisation in Europe, set to begin in August. The project will utilize TGS's Ultra High Resolution 3D streamer technology for detailed subsurface imaging.
Logistics Cargo Giants Support Splash Singapore's Inaugural Event
Splash Singapore's debut event attracts major cargo interests, including Rio Tinto and Vale, aiming to become a key Asian shipping conference. The event will feature discussions on global shipping demand drivers.
Trade Velesto secures offshore drilling contract in Thailand
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Business Shipping Industry Faces Geopolitical Risks Amid Strong Markets
Leading shipowners and investors at the TradeWinds Shipowners Forum discuss the resilience and strategic decisions required in today's strong yet risky markets. Executives from Mitsui OSK Lines, Safe Bulkers, and JP Morgan Asset Management highlight the impact of geopolitical events on shipping operations and investment strategies.
Logistics SBM and Solstad's New Deepwater Vessel Order
SBM Offshore and Solstad Offshore have ordered a new deepwater construction vessel, set for delivery in 2029. This vessel will enhance their capabilities in ocean infrastructure installation.
Commodities Fugro Secures Irish Offshore Wind Monitoring Contract
Dutch surveyor Fugro has won a two-year contract with EirGrid to monitor marine mammals along Ireland's south coast, supporting the development of offshore wind energy infrastructure.
Business Eldorado Drilling Acquires Vantage Drilling for $257 Million
Eldorado Drilling is set to acquire Vantage Drilling for $257 million, marking a strategic expansion in the offshore drilling sector. The merger, funded by Eldorado's principal shareholder, aims to enhance operational capabilities and customer solutions.