Maritime Vessels Directory

In a major move to accelerate the U.S. Coast Guard’s icebreaking fleet expansion, Bollinger Shipyards, Rauma Shipyards, Seaspan Shipyards, and Aker Arctic announced a partnership to deliver next-generation Arctic Security Cutters (ASCs) under the Coast Guard’s multibillion-dollar icebreaker program.The collaboration combines U.S., Canadian, and Finnish shipbuilding expertise to meet the Coast Guard’s urgent Arctic mission requirements. Backed by nearly $9 billion in funding secured under President Trump’s “Big Beautiful Bill”, the effort aims to deliver the first vessel within 36 months of contract award, using a mature, production-ready design.

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

2 days ago

Yinson Production, via its joint venture PTSC South East Asia (PTSC SEA), has secured a lease and operate contract for a new floating storage and offloading (FSO) unit for Vietnam’s offshore Block B gas development.The contract was awarded by Phu Quoc Petroleum Operating Company (PQPOC), the operator of Blocks B 48/95 and 52/97, on behalf of state-run Petrovietnam. The project marks a key milestone in Vietnam’s push to enhance energy security and offshore infrastructure.The contract includes a firm term of 14 years, with an option to extend for up to nine additional years. The total contract value, including extensions, is estimated at $600 million.

CK Hutchison Deal Deadline Likely to be Extended

2 days ago

CK Hutchison's plan to sell most of its $22.8 billion ports business is unlikely to be finalised anytime soon, with political brinkmanship set to continue, and sources saying that a Sunday deadline for exclusive talks was likely to be extended.The Hong Kong conglomerate's plan to sell the business, which would include two ports along the strategically important Panama Canal, to a consortium led by BlackRock and Italian billionaire Gianluigi Aponte's family-run shipping company MSC, has become politicised amid an escalating China-U.S. trade war.

Shipbuilding is a Leverage Point in South Korea's Trump Tariff Negotiations

5 days ago

South Korea and the United States havehttps://www.marinelink.com/news/hanwha-build-usflagged-lng-carrier-528214 been discussing a shipbuilding tie-up that could include investments to modernize U.S. shipyards and more help to repair the U.S. naval fleet as Seoul seeks better tariff terms, government and industry sources said.U.S. President Donald Trump, who has made revitalizing the aging U.S. shipbuilding industry a priority to keep up with China, has repeatedly raised the idea of cooperating with South Korea's cutting-edge shipbuilding industry.After investing billions of dollars in shipbuilding capacity, China is the world's biggest shipbuilder.

Fincantieri Reports Record €57.7B Shipbuilding Backlog

41 minutes ago

Fincantieri reported a sharp rise in first-half 2025 results, with growth across all segments and a record order backlog that solidifies its position as one of the world’s leading shipbuilders.Revenues reached €4.58 billion, up 24% from the same period in 2024, while EBITDA surged 45% to €311 million, lifting the margin to 6.8%. The company swung to a net profit of €35 million, compared to a loss of €27 million in the first half of 2024.New orders totaled €14.7 billion, nearly doubling last year’s intake, and bringing the total order book to a record €57.7 billion, including 100 ships scheduled for delivery through 2036. The backlog stands at €41.9 billion, up 35% from year-end 2024.

Maritime Reporter and Engineering News (June 2025)