Masterbulk Pte. Ltd.

Davie, a leader in icebreaker and specialized vessel construction, announced plans to acquire shipbuilding assets in Galveston and Port Arthur from Gulf Copper & Manufacturing Corporation — marking a major step toward revitalizing large-scale shipbuilding of icebreakers in the United States. The move underscores growing momentum behind domestic production of ice-capable vessels and aligns with U.S. maritime security and industrial revitalization goals.The deal, expected to close in summer 2025, is subject to standard financial, regulatory, and land lease approvals, including negotiations with the Galveston Wharves Board of Trustees.

The fire fighting operation is ongoing onboard the Singapore-registered container vessel Wan Hai 503, off the coast of India, as search and rescue operation for the four missing crew continues.A fire broke out on Wan Hai Lines (Singapore) Pte Ltd.-managed container ship Wan Hai 503 on June 9 off India’s Kerala coast, following multiple explosions that forced several crew members to jump overboard.According to the latest update from the Maritime and Port Authority of Singapore (MPA), the operation to extinguish the fire is still ongoing, with two additional fire-fighting vessels deployed by the Indian authorities and the vessel owner scheduled to arrive onsite.

Global insurer Allianz Commercial recently issued its 2025 Safety & Shipping Review, examining maritime risk trends and losses. The report revealed that the shipping industry has made significant improvements when it comes to maritime safety in recent years. During the 1990s the global fleet was losing 200+ vessels a year. This total had halved 10 years ago and is now down to a record low of 27 as of the end of 2024 (from 35 in 2023).Despite the ongoing trend for fewer large losses, challenges remain. Shipowners are trying to operate vessels safely within an ever-changing and dynamic regulatory framework and do the right thing while managing a host of complex issues.

Fugro has been selected by nonprofit organization Ocean Visions to lead the development of a standardized environmental impact assessment framework for marine carbon dioxide removal (mCDR), a set of emerging technologies that enhance the ocean’s natural ability to store carbon.The initiative aims to support the permitting of mCDR projects by providing a transparent, evidence-based approach to environmental review.The two-year project will involve designing, refining and testing a framework that can be applied across a range of mCDR strategies.Joining Fugro on the project are U.S.-based Integral Consulting and the UK’s National Oceanography Centre.

ABB has secured a large order by Seatrium, a global provider of marine engineering solutions based in Singapore, for the supply of electrical equipment and automation solutions on a new generation of floating production storage and offloading (FPSO) vessels for operator Petrobras.The two vessels, P-84 and P-85, will be deployed in the Atapu and Sépia fields, approximately 200 kilometers off the coast of Rio de Janeiro in Brazil.ABB will design and construct the topside and hullside electrical equipment, electrical substation automation and eHouses for both FPSOs.