TORM KRISTINA

China-based offshore wind foundations manufacturer Dajin Heavy Industry has delivered KING TWO, the second 40,000 DWT heavy deck carrier in its self-developed and self-built KING series.The delivery represents a step in expanding the company's offshore vessel-building capabilities, marking the transition of the vessel class into standardized batch construction following the commercial deployment of KING ONE.KING TWO has an overall length of 239.8 meters, a beam of 51 meters, a 12,000-square-metre cargo deck, and a range of 16,000 nautical miles.

Ocean Network Express (ONE) reported a profitable first quarter for fiscal 2026, overcoming higher fuel costs and geopolitical disruptions through strong cargo demand, disciplined capacity management and rising freight rates, while continuing to invest in fleet modernization under its long-term ONE2030 strategy.For the quarter ended June 30, 2026, the Singapore-based container carrier generated revenue of $4.54 billion, EBITDA of $707 million and EBIT of $76 million, resulting in a net profit of $31 million. The carrier transported 3.26 million TEU during the quarter at an average freight rate of $1,300 per TEU.

Swan Defence and Heavy Industries Limited (SDHI), India’s largest shipbuilding and heavy engineering company, has secured a contract from Denmark-based towage operator Svitzer A/S to construct four advanced TRAnsverse 3200 tugs. Deliveries for the order are scheduled to commence in early 2028. The vessels will be constructed to Bureau Veritas class.Co-developed by naval architects Robert Allan Ltd. and Svitzer, the patented TRAnsverse 3200 design is engineered for harbor towage and escort operations. Featuring a hydrodynamic hull design and omni-directional propulsion, the vessels are capable of safely guiding large ships through severe weather and restricted port channels.

German energy company RWE said on Thursday that it had reached a $1.22 billion agreement with the Trump administration to cancel three offshore wind leases in U.S. waters and to direct the funds to LNG and natural gas power plant projects.The arrangement is the fifth, and largest, the administration has entered into this year as part of its wide-ranging effort to stop development of U.S. offshore wind projects, which U.S. President Donald Trump regards as costly and ugly. His administration has sought to increase domestic fossil fuel production and scrapped policies that support clean energy development.

A proposed deal between Iran and Oman that would give Tehran control over ships entering the Gulf through the Strait of Hormuz is not easily workable due to U.S. sanctions and restrictive insurance clauses on any payments, four industry sources said.Until U.S.-Israeli airstrikes at the end of February unleashed war in Iran, the narrow waterway between the Gulf and the Indian Ocean was the main route for about a fifth of world oil supplies and other vital goods. It was freely open to all ships with no fees.Control of the strait has been the biggest sticking point in efforts to end the conflict.