PaxOcean–ABB electric tug reaches major milestone

Finland Advances Cable Breach Investigation with Arrests

Finnish police said on Friday they had made progress in a criminal investigation into damage caused to an undersea telecommunications cable owned by operator Elisa.Police seized the cargo vessel "Fitburg" on Wednesday while it was en route from…

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Oil Prices Fall After Biggest Annual Loss Since 2020

Oil prices dipped on the first day of trade in 2026 after registering their biggest annual loss since 2020 as investors weighed oversupply concerns against geopolitical risks including the war in Ukraine and

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Petrobras FPSO Initiates Búzios 6 Production

The FPSO P-78 can produce up to 180,000 barrels per day and will increase the gas supply.Petrobras began oil production from the P-78 floating production, storage and offloading (FPSO) vessel in the

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Japan Tests Deep Seabed Mining of Rare-Earth Mud

Japan will conduct test mining of rare-earth-rich mud from the deep seabed off Minamitori Island, some 1,900 kilometres (1,180 miles) southeast of Tokyo, from January 11 to February 14, the head of

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Offshore Rig Outlook: As 2025 Challenges Fade, Path Ahead Brightens

While challenges linger from the 2025 offshore rig market, there are signs it will look brighter from late 2026 onwards.Main Events of 2025One of the biggest talking points of 2024 and 2025

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Maduro Suggests Talks with U.S. on Drugs, Oil

Venezuela's President Nicolas Maduro has extended an olive branch to U.S. President Donald Trump, proposing serious talks on combating drug trafficking and offering U.S. companies ready access to Venezuelan oil.Maduro said Venezuela

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Taiwan on Alert As China Withdraws Ships from Military Drill

Taiwan remained on high alert on Wednesday after China staged massive military drills around the island the previous day, keeping its emergency maritime response centre running as it monitored Chinese naval manoeuvres,

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Finland Detains Vessel Suspected of Subsea Cable Damage

Finnish police on Wednesday seized a ship sailing from Russia on suspicion of sabotaging an undersea telecoms cable running from Helsinki to Estonia across the Gulf of Finland, an area hit by

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Fincantieri’s WASS Bags $235M Torpedo Order from Indian Navy

Fincantieri, via its subsidiary WASS Submarine Systems, has secured a contract from the Indian Navy to supply Black Shark Advanced (BSA) heavyweight torpedoes for six Scorpène-class submarines in service with the fleet.The