DIAMOND SERVICES

U.S. President Donald Trump has signed an executive order aimed at ‘restoring American maritime dominance’ through the revival of domestic shipbuilding industry and weakening China’s grasp on the global shipping market.The Order directs the creation of a Maritime Action Plan (MAP) to revitalize U.S. maritime industries, which will provide a strategy with specific actions to restore and create sustained resiliency for the American maritime industry.Up until now, government procurement processes and over-regulation have hindered private industry’s ability to build vessels on time and on budget, and according to the current administration, this order reverses that trend.

U.S. President Donald Trump signed an executive order on Wednesday aimed at reviving U.S. shipbuilding and reducing China's grip on the global shipping industry.Republican and Democratic U.S. lawmakers for years have warned about China's growing dominance on the seas and diminishing U.S. naval readiness.The order directs the U.S. Trade Representative to move ahead with a plan that includes levying U.S. port docking fees on any ship that is part of a fleet that includes Chinese-built or Chinese-flagged vessels. Allies will be pushed to act similarly.

Mitsui O.S.K. Lines (MOL), Japan's second-largest shipping company, aims to capitalize on opportunities that emerge from a shift in trade routes driven by new U.S. tariffs, CEO Takeshi Hashimoto said.The highest U.S. tariffs in more than a hundred years came into force on Wednesday, roiling global markets."Trade routes will inevitably be reshuffled," Hashimoto told Reuters in an interview on Tuesday."We'll likely see increased trade from low-tariff countries and declines from high-tariff ones," he said, noting some cargos could be rerouted through Mexico or Canada, where tariffs may be lower.MOL plans to monitor shifting trade patterns and seize new opportunities, he said.Hashimoto said U.S.

Belgium-based offshore installation services company DEME has signed an agreement to acquire Havfram, an offshore wind installation contract based in Norway, in a deal worth $985.5 million.The strategic acquisition aligns with DEME's ambition to expand its footprint in the offshore wind energy market and enhances its competitive positioning in turbine and foundation installations.Havfram is a Norwegian offshore wind infrastructure company focused on providing transport and installation to the offshore wind sector.

The Trump administration has pulled out of the decarbonization negotiations taking place at the IMO’s Marine Environment Protection Committee (MEPC) 83rd session this week.The US government is threatening reciprocal measures if any fees are imposed on US vessels based on GHG emissions or fuel choices.The 2023 IMO GHG Strategy outlines a set of “mid-term measures” aimed at reducing greenhouse gas emissions from international shipping. These measures should consist of:• a technical element: a goal-based marine fuel standard designed to gradually lower the GHG intensity of marine fuels; and• an economic element: a pricing mechanism for maritime GHG emissions.