TMS Offshore Services Ltd.

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.

The United States will "take back" the Panama Canal from Chinese influence, U.S. Defense Secretary Pete Hegseth said on Tuesday during a visit to the Central American nation.After talks with Panama's government, Hegseth vowed to deepen security cooperation with Panamanian security forces and said China would not be allowed to "weaponize" the canal by using Chinese firms' commercial relationships for espionage."Together, we will take back the Panama Canal from China's influence," Hegseth said, speaking at a pier renovated with U.S. assistance in Panama City."China did not build this canal. China does not operate this canal and China will not weaponize this canal.