Industry News Archives - Page 22 of 47

Saudi Arabia Wants China To Help Fund Its Struggling $500 Billion Neom Megaproject

Industry News, Blogs, Merchant Navy Info / Umar Farooq

Saudi Arabia took its Neom megaproject roadshow to China. This is amid speculation about the scope of the project and its finances. Neom megaproject officials visited Beijing, Shanghai, and Hong Kong last week. All in the hopes of courting Chinese investors and shed more light on the mysterious megacity. While no deals have been announced, one attendee told […]

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New Laser Propulsion Could Power Silent Yet Supersonic Chinese Submarines

Industry News, Blogs / Anmol

A new laser-based propulsion technology developed by researchers at China’s Harbin Engineering University. Could one day help the People’s Liberation Army (PLA) build quiet, ultra-fast submarines? According to a report by the South China Morning Post (SCMP). The technology could also power underwater missiles and torpedoes. The concept of underwater laser propulsion is not new.

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10 Billion Barrels Of Oil Discovered Off Namibia’s Coast

Industry News, Blogs / Umar Farooq

LISBON, April 21 (Reuters)—Galp Energia, the Portuguese oil company, has made a significant stride in the oil and gas industry. On Sunday, it announced the successful ending of the first phase of exploration in the Mopane field off the coast of Namibia. The company estimates a potential reserve of at least 10 billion barrels of oil. A

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HD Hyundai Unveils a New R&D Center for Green Ship Technology

Industry News, Blogs, Merchant Navy Info / Umar Farooq

HD Hyundai is taking things to new heights. South Korea’s Busan New Port has extended its capacity by launching a seventh container terminal. The terminal’s opening ceremony on Friday was attended by President Yoon Suk Yeol. The leader has lauded the facility as a milestone in turning Busan Port into a world-class smart port. Also,

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Report: Danish Frigate’s Weapons Malfunctioned During Houthi Drone Attack

Industry News, Blogs / Umar Farooq

The Danish frigate’s Ivar Huitfeldt is on her way home early from her air-defence mission in the Red Sea. While in the theatre, the warship shot down four Houthi drones. According to Danish outlet Olfi, her commander was concerned about her ability to shoot down too many more. The paper obtained a message from the Huitfeldt commanding

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US DoD Expands Acv Contract To Provide For Additional Line Items

Industry News, Blogs / Anmol

As the amphibious combat vehicle (ACV) enters the production and delivery phase. The U.S. Department of Defense (DoD) will consider additional items from subcontractors to increase the cumulative value of the framework. The Department of Defense first ordered this platform in June 2018. Since then, additional units and new variants have been incorporated into the

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Russia’s War Economy Continues To Mobilize Further In 2024

Industry News, Blogs / Anmol

In its new Russia Macroeconomic Outlook released on April 2, 2024. Global Data Intelligence predicts that Russia’s growing war economy will cause so-called “special military operations” in Ukraine to double. In November 2023, Russian President Vladimir Putin agreed to a significant increase in military spending. The proposed budget allocates about 30% of tax spending in 2024

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U.S. Coast Guard, Royal Navy Seize Drugs Worth $45 Million

Industry News, Blogs / Anmol

The U.S. Coast Guard and Royal Navy announced they had seized $45 million worth of drugs in three separate raids. Within two weeks. On Friday, the crew of Coast Guard Cutter Margaret Nobel in Miami offloaded more than 1,850 pounds of cocaine. Seized from a speedboat south of Puerto Rico. The drug had a street value

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Russia Builds New Asia Trade Routes to Weaken Sanctions Over War

Industry News, Blogs / Anmol

Shipping and rail links through Iran and the Northern Sea Route could lead Moscow to move away from Europe and increase its focus on Asia powers such as China and India. These have the potential to entrench Russia at the center of much international trade, even as the United States and its allies seek to

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Oil Supertankers Headed for China Jump to the Highest in a Year

Industry News, Merchant Navy Info / Umar Farooq

According to a regular count compiled by Bloomberg, some 124 vessels are signalling China, the world’s biggest oil supertanker importer, as their next destination over the forthcoming three months. That’s the highest level since late April 2023. China’s oil processing increased to the highest in five months in March due to robust demand following the

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Industry News

Saudi Arabia Wants China To Help Fund Its Struggling $500 Billion Neom Megaproject

New Laser Propulsion Could Power Silent Yet Supersonic Chinese Submarines

10 Billion Barrels Of Oil Discovered Off Namibia’s Coast

HD Hyundai Unveils a New R&D Center for Green Ship Technology

Report: Danish Frigate’s Weapons Malfunctioned During Houthi Drone Attack

US DoD Expands Acv Contract To Provide For Additional Line Items

Russia’s War Economy Continues To Mobilize Further In 2024

U.S. Coast Guard, Royal Navy Seize Drugs Worth $45 Million

Russia Builds New Asia Trade Routes to Weaken Sanctions Over War

Oil Supertankers Headed for China Jump to the Highest in a Year

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