Lockheed Martin Q2 Profit Plunges After $1.6b Pretax Loss

Lockheed Martin reported on Tuesday that its second-quarter profit plunged by about 80%, after the U.S.

IMF Warns Tariffs Won't Solve Global Account Imbalances

Global current account balances widened sharply in 2024, reversing a narrowing under way since the global financial crisis of 2008-2009, the International Monetary Fund said on Tuesday, warning that tariffs were not

New BIMCO Clause Addresses USTR Actions

The Documentary Committee of BIMCO adopted a standard clause aimed at addressing contractual uncertainties that may arise from the United States Trade Representative’s (USTR) Notice of Actions to impose fees on Chinese-related ships

Dual-Fuel LR2 Tankers to Sport Wind Propulsion, too

BAR Technologies confirmed an order for its WindWings propulsion system to be installed on a pair of new LR2 dual-fuel tankers, marking one of the first confirmed large-scale wind propulsion deployments on this

Cocaine Hidden in Marine Engines from U.S.

The Australian Federal Policy (AFP) has charged two men for allegedly trying to take possession of 140kg of cocaine hidden inside two marine engines. Investigations began in October, 2024, when Australian Border

Japanese Shipowners to Donate Training Vessel to JMETS

Japanese ocean-going shipping companies, NYK Line, MOL and "K" LINE, along with the Japanese Shipowners' Association (JSA), have begun discussions regarding the donation of a large-sized training vessel to the Japan Agency

Grimaldi Names First Ammonia-Ready Car Carrier

Grimaldi Group has held a naming ceremony in Jiangsu, China, for the Grande Shanghai, the first of 10 pure car and truck carriers (PCTC) commissioned by the company from China Merchants Heavy

Small Shipyard Grant Recipients Announced

U.S. Transportation Secretary Sean P. Duffy has announced that the Maritime Administration (MARAD) has awarded $8.75 million in grants to revitalize U.S. shipyards and advance America’s maritime dominance.The funding is part of

US Lawmakers Tech CEOs to Address Security Concerns About Subsea Cables

Three Republican House lawmakers on Monday asked the CEOs of Alphabet, Facebook parent Meta, Amazon.com and Microsoft if they have adopted adequate safeguards to address growing national security concerns on submarine communications