On November 3, Hudong Zhonghua named the 18,600 cubic meter LNG bunkering ship "MONTE SHAMS" built by Total Energy. The owner is IBAIZABAL of Spain and the operator is Total Energy. It is classified by Bureau Veritas (BV) and is scheduled to be delivered within the year. The ship is designed with the latest V3.0 version, 135.9 meters long, and is compatible with VLCC, LR2, and bulk carriers. Injected ship types such as container ships and car carriers use fully-rotating electric propulsion and dual-fuel main engines. The gas consumption under the design conditions is reduced by about 14%, and the methane escape is reduced by about 60%. The ship is the 100th LNG equipment undertaken by Hudong-Zhonghua, and will serve the Middle East's first large-scale LNG bunkering hub at Sohar Port in Oman. The company has orders for nearly 60 LNG ships, and the schedule has been extended to after 2030.
Abu Dhabi National Oil Company (ADNOC) announced a multi-year cooperation with OpenAI and G42 at ADIPEC on November 2, becoming the first energy company to deploy OpenAI's cutting-edge AI platform to connect and coordinate multiple cutting-edge AI agents in complex operations. The agreement was signed by Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council. The technology is deployed on G42's sovereign AI infrastructure in the United Arab Emirates, using OpenAI's GPT model. The first two applications: First, the overall oil field development plan is changed from "underground, surface facilities, and economic evaluation are done separately" to an overall decision. Relying on ENERGYai's reservoir-level intelligence, it integrates decades of data from thousands of wells, multi-layer oil reservoirs and hundreds of surface facilities together with capital, cost and business conditions, compressing the preparation of the full oil field development plan from months to hours. And the optimization object is changed from a single oil reservoir or facility to the entire oil field; the second is to make ADNOC the first energy company in the world to value and price crude oil while it is still buried underground, using interconnected AI intelligence to continuously predict crude oil supply and demand, price and profit across production, processing, refining, logistics, sales and trade, and weighing the commercial and operational impact of each decision as an overall process. ADNOC said that human experts retain the right to supervise major decisions, and all plans are run under the supervision of ADNOC. The collaboration will also strengthen cybersecurity defenses through OpenAI’s Daybreak Blue program. Previous bases include: ENERGYai (70 billion parameter model, trained with more than 50 years of ADNOC data) jointly developed with AIQ, AiPSO, a real-time operations center connecting more than 120 drilling rigs (reducing engineering workload by 30–40%), and more than 200 AI applications and 70 robotic use cases (covering drilling, production, infrastructure, logistics and shipping, Pointing to increasingly autonomous operations); ChatGPT Enterprise Edition has been rolled out to more than 40,000 employees, with an adoption rate of over 97%, deploying it for the largest enterprise in the Middle East and North Africa. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, said that "the next frontier of AI is not just to do things faster, but to make things that were previously out of reach possible"; OpenAI CEO Sam Altman said that this cooperation combines cutting-edge AI, sovereign infrastructure and industry expertise.
On November 3, during Euronaval in Paris, Fincantieri and Leonardo signed a letter of intent with the goal of further strengthening the role of the joint venture Orizzonte Sistemi Navali (OSN). OSN is 51% owned by Fincantieri and 49% owned by Leonardo. Signing on behalf of both parties was Pierroberto, CEO and general manager of Fincantieri Folgiero with Leonardo CEO and General Manager Lorenzo Mariani. The move is a continuation of the consolidation of the European naval defense industry.
Rauma Shipyard (RMC) announced on October 29 that the third Pohjanmaa-class multi-purpose frigate built for the Finnish Navy was launched at Rauma Shipyard, which is an important node in the Squadron 2020 items project; the first two ships are in the outfitting stage, and the keel of the fourth ship was laid in August. The series of construction experience has enabled the processes of each ship to overlap. Meyer Turku (Meyer Turku) released on October 30, The second of the two multi-purpose offshore patrol ships ordered by the Finnish Border Guard was named "Valpas" at the Usikaopenki shipyard. The godmother was Mari Rantanen, Minister of the Interior of Finland, Major General Tom Hanén, Deputy Commander of the Border Guard, and Ville Saksi, Vice President of Maier Turku. The two ships will be commissioned in the coming year. Damen announced on October 30 that it signed a pollution response and search and rescue (SAR) ship contract with the Lithuanian Navy. Based on the Damen OPV 6711, the public procurement was organized by the Environmental Project Management Agency under the Lithuanian Ministry of Environment. The signing ceremony was held in Vilnius on October 29. Lithuanian Defense Minister Robertas Kaunas and Environment Minister Ieva Andriulaitytė signed on behalf of Lithuania. The ship is 67.3 meters long, has a top speed of 23 knots, a range of 8,000 nautical miles, a crew of 24, can accommodate 50 survivors, and is equipped with FiFi 1 Firefighting system and DP1 dynamic positioning, the helicopter deck can take off and land UH-60 level aircraft.
Ingalls Shipyard, a subsidiary of HII, announced on November 3 that it had completed the sea trials of the "Harrisburg" (LPD 30) builder. The ship is the first ship of the San Antonio-class amphibious transport dock ship Flight II. The multi-day sea trials tested the propulsion, steering, ship control, communications, mission systems and combat system integration; Stephen Janowski, the amphibious ship project director, called this "a key step towards delivering the fleet." Green Yard (formerly Kleven) On November 2, it was stated that together with Norwegian subcontractors and partners, its shipyard group's production capacity is equivalent to 3 to 4 standard ships per year, and can produce 10,000 tons of steel modules and hulls annually; the group president said that Norway "does not lack the production capacity to build these ships, but what it lacks is to use the production capacity."
Nippon Yusen Kaisha (9101.T) released a revised announcement on its March 2027 performance forecast on October 29, raising the forecast previously announced on August 5 across the board. Annual operating income was raised from 2.881 trillion yen to 3 trillion yen (+4.1%); operating profit was raised from 185 billion yen to 210 billion yen (+13.5%); regular profit was raised from 250 billion yen to 335 billion yen. (+34.0%); the current net profit attributable to shareholders of the parent company was raised from 240 billion yen to 330 billion yen (+37.5%); the current net profit per share was raised from 594.49 yen to 817.36 yen. In the first half of the year (April to September), the net profit was simultaneously raised from 155 billion yen to 203 billion yen (+31.0%). The company stated three reasons for the revision: The container ship freight market conditions are higher than the assumptions in the last forecast, resulting in the performance of its equity method applicable company Ocean Network Shipping (ONE) is expected to exceed original expectations; the dry bulk business and energy business market conditions have also remained strong. The assumptions stated in the announcement are: the cumulative exchange rate in the first half of the year is 160.47 yen/USD, and the full year is 157.98 yen/USD; the fuel price in the first half of the year is 759.88 US dollars/ton, and the full year is 802.32 US dollars/ton. (Average price for all ship types).
Nippon Yusen released a timely disclosure on November 4. The board of directors of its equity method applicable company Ocean Network Shipping (ONE) decided to implement dividends. Nippon Yusen is expected to receive approximately 204 million U.S. dollars (approximately 32.2 billion yen converted at 1 U.S. dollar 157.54 yen), and the scheduled receipt date is November 13. The company stated that the dividend will be paid on March Non-operating income was included in the individual final accounts of the third quarter of 2027; however, since it is a dividend of a company applying the equity method, it has no impact on the consolidated performance of the same period. This is the second ONE-related disclosure in the short term after Nippon Yusen raised its full-year performance forecast on October 29.
Scorpio Tankers (NYSE: STNG) released third-quarter results on October 28: net profit of US$224.3 million, basic earnings per share of US$4.91, diluted US$4.60, compared with US$84.5 million, US$1.81 and US$1.73 in the same period last year. After excluding US$152.6 million of ship sales income and US$55.6 million of fair value losses on financial liabilities, Adjusted net profit was US$127.4 million, or US$2.49 per diluted share, compared with US$72.7 million or US$1.49 in the same period last year. Net profit in the first three quarters was US$828.1 million, or basic US$17.92 per share, compared with US$216.2 million in the same period last year. TCE revenue in the third quarter was US$249.1 million, a year-on-year increase of 16.2 million. During the same period, the average number of ships in operation dropped from 99.0 to 75.1 - and the average daily TCE of a single ship rose from US$26.231,000 to US$37.508,000. The company said that although spot rents fell from the highs in the second quarter, they remained firm throughout and strengthened at the end of the quarter. The conflict in the Middle East lengthened the voyages of refined oil products, which continued to dislocate the global fleet, coupled with solid demand and stronger refinery profits. So far in the fourth quarter, The daily average TCE of LR2 in the pool and spot market has reached US$181,000, covering 44% of revenue days, MR is US$56,000, 47%, and Handymax is US$40,000, 37%. During the same period, the company ordered four new LR2 ships with desulfurization towers from Jiangsu Hantong Shipbuilding Industry for US$72.8 million each, and one will be delivered in the second and third quarters of 2029. Two ships were delivered in the fourth quarter; three more ships, STI Jermyn, STI Gladiator, and STI Pontiac, were leased out for three years in August, with daily rents of US$42.5 thousand, US$40.188 thousand and US$23.9 thousand respectively. The board of directors announced a quarterly dividend of US$0.75 per share, which was registered on November 13 and paid on December 4. There are 51.0789 million ordinary shares in issue.
ADNOC announced at ADIPEC on November 2 that it has made a final investment decision on the Ruwais Diyab (Ruwais Diyab) unconventional gas development project. This is the company's first large-scale unconventional gas development project; the project will supply 345 million standard cubic feet/day of raw material gas over a 25-year period starting from 2029, with the potential to increase to 1 billion cubic feet/day in the future. The natural gas will be processed on site and connected to the UAE pipeline network through new pipelines, while supporting the country's LNG export plan. Equinor Announced on October 29, a new evaluation well discovered in Afrodite near the Kvitebjørn oil field showed that the volume of recoverable natural gas and condensate may be more than twice the previous estimate, now estimated at 77 million to 180 million barrels of oil equivalent; the company stated that the total reserves of the oil reservoir are about three times that number, but the reservoir permeability is low and only a part of it can be recovered. Kjetil, executive vice president in charge of Norwegian Exploration and Production Hove said it was "very good" to find natural gas of this size in the mature area of the Norwegian continental shelf. According to Petrobras' 6-K submitted to the U.S. Securities and Exchange Commission on November 4, Fitch raised its independent credit profile (SCP) from "bbb" to "bbb+", the first upgrade since 2020; Fitch also confirmed its global scale rating as "BB", with a stable outlook, and its domestic scale rating as "AAA(bra)", with a stable outlook. The reasons are improved corporate governance and management effectiveness, clearer board supervision and transparency records, as well as strong reserves, production scale, strong cash flow and low leverage.
Hapag-Lloyd and ONE separately issued notices to customers, stating that according to information provided by ship owner Seaspan, "most of the cargo" on board the 11,800 TEU "Espirito Santo Express" may have been severely damaged or lost by fire. The ship was built in 2018, flagged in Singapore, and chartered by Hapag-Lloyd from Seaspan. A fire broke out on October 15 while sailing from Singapore to Santos, Brazil; all 28 crew members abandoned the ship and were rescued by the Portuguese bulk carrier "Aeolian Arrow". However, the first mate of the bulk carrier fell into the water while recovering the lifeboat and disappeared. The fire is currently under control, and the ship has not yet arrived at the port of refuge. The specific cargo damage needs to be assessed in port, and the cause of the fire is still under investigation.
Qinhuangdao Port Co., Ltd. (601326/03369) disclosed on November 4 its plan to issue shares and pay cash to purchase assets and raise supporting funds and related transactions: It plans to purchase 25% of the equity of Caofeidian Industrial, 24% of SDIC Caofeidian, 28.2328% of Huaneng Caofeidian, and 6% of Caofeidian Coal from the controlling shareholder Hebei Port Group. At the same time, A shares were issued to no more than 35 specific targets to raise supporting funds. The company said that this transaction constituted a related transaction, and was not expected to constitute a major asset restructuring, nor a reorganization and listing; due to the audit, the evaluation has not yet been completed, and the transaction price has not yet been determined. The company's A shares have been suspended since the market opened on October 21. After applying to the Stock Exchange for resumption of trading on November 4, the transaction still needs to be reviewed by the board of directors, passed by the shareholders' meeting and regulatory approval.