MÆRSK MC-KINNEY MØLLER

BW Offshore's blue ammonia floating production, storage and offloading (FPSO) concept, jointly developed with McDermott, has received Approval in Principle (AiP) from DNV, advancing the proposed offshore low-carbon ammonia production solution towards further design development.The AiP provides an independent, risk-based assessment of the concept at an early stage and establishes a basis for further design development, certification and classification.Unveiled in February, the FPSO concept is designed to process up to 3 million cubic meters of natural gas per day and produce more than 1 million tonnes of ammonia annually.

Saronic has broken ground on Port Alpha, a new U.S. shipyard at the Port of Brownsville, Texas, representing a private capital investment of more than $3 billion and a potentially significant addition to U.S. shipbuilding capacity.Situated on 835 acres with an option to expand to nearly 4,400 acres, Port Alpha is being designed to build autonomous, autonomy-capable and manned vessels. Saronic said the project could eventually support up to 10,000 direct jobs.At opening, the yard is planned to provide 150,000 gross tons of annual shipbuilding capacity, which Saronic said would more than double current U.S. commercial shipbuilding capacity.

Samsung Heavy Industries has signed a $226 million (KRW 307.4 billion) contract to build two very large gas carriers (VLGCs) for an undisclosed shipowner in Bermuda, according to a Korean stock exchange regulatory filing.The contract was signed on September 29 and runs through February 28, 2030, with the end date based on the vessels' delivery date.Payments will be made according to construction progress, with the contract including an advance payment.The order represents 2.9% of Samsung Heavy Industries' $7.81 billion (KRW 10.65 trillion) in annual revenue based on its 2025 consolidated financial statements.

Chinese workboat and specialist vessel builder Jianglong Shipbuilding Technology has signed contracts worth $40 million to build two 78-meter multi-purpose offshore supply vessels for an undisclosed customer, with deliveries scheduled for 2028.The first vessel is due to be delivered on or before June 19, 2028, followed by the second on or before August 18, 2028. Payments will be made in installments as construction progresses.The contract value, which excludes owner-supplied items, is equivalent to about $40 million (269.5 million yuan) and represents 38.35% of Jianglong Shipbuilding's audited operating revenue for 2025.

The Strait of Hormuz will not reopen until seven Iranian conditions set out in a June interim agreement with the US are met, state media reported Iran's parliament speaker Mohammad Baqer Qalibaf as saying on Sunday.Iran presented a proposal during the UN General Assembly under which the Strait of Hormuz waterway could be reopened and normal maritime passage restored within seven days if the conditions were met, with the US replying to this proposal last week via Qatari intermediaries."The position of the Islamic Republic of Iran is completely clear and firm, and the Strait of Hormuz will not be opened until our seven conditions, based on the Islamabad Memorandum of Understanding, are met