COSCO SHIPPING Specialized Carriers has formed a joint venture in Dammam with COSCO SHIPPING (West Asia) and Saudi Ports Services & Storage Co. (PSS) to build its first integrated supply chain hub in Saudi Arabia.
Subsea7 has extended its IMR frame contract with Equinor, keeping the 2013-built Seven Viking on subsea inspection, maintenance and repair work across the Norwegian Continental Shelf through year-end 2027.
The US has seized VLCC Bella 1, a third tanker tied to Venezuela and the second in less than 24 hours, under a warrant linked to Iranian oil trade and an OFAC sanctions listing.
Swedish customs officers have boarded the sanctioned Russian freighter Adler in Swedish waters after an engine failure, inspecting its cargo as EU- and US-sanctioned owner M Leasing LLC comes under scrutiny.
The U.S. Coast Guard has seized a second oil tanker in international waters near Venezuela, as Homeland Security Secretary Kristi Noem and Defense Secretary Pete Hegseth tie the move to President Trump’s tanker blockade policy.
HD Hyundai Heavy Industries has signed a joint development contract with the Peruvian Navy and SIMA Shipyard to design a Peru-specific next-generation submarine, with an 11-month design phase starting next January.
Petrovietnam outlines 2025 milestones across Dai Hung Phase 3, Block B CPP Jacket fabrication, BK-24 & White Lion deliveries, and PTSC’s EPC award for 33 offshore wind jackets.
Seatrium says its Phoenix II A/S dispute is resolved, with WTIV delivery due 28 February 2026. Buyer pays a $360m balance, including $250m funded via SGS credit.
