Volstad Shipping has announced today they have secured the required financing to execute the previously announced construction contract for a new 128-meter offshore construction and subsea IMR vessel at Tersan shipyard in Turkey. The vessel is a Skipsteknisk ST-259 design and will be built at a total contract value of approximately USD $130 million.
ST-259 design, rendering courtesy Skipsteknisk
Volstad notes that this new DP-3 equipped vessel is designed for arctic use and includes ROV moonpools, de- icing as well as a 300 ton offshore crane and accommodations for 120.
U.S. President Donald Trump and Chinese President Xi Jinping on Thursday took steps to de-escalate their trade war, swapping some U.S. tariff reductions and tighter export controls for a pause in Beijing's new restrictions on rare earth minerals and magnets and a resumption of its purchases of American soybeans.
Marilyn Hubalde still remembers the first time she heard the thunderous chop of military helicopters swooping over this northernmost outpost of the Philippines, less than 90 miles from Taiwan. It was April 2023, when Filipino and American troops descended on the cluster of 10 emerald green islands of Batanes province for amphibious warfare drills.
The United States and China have agreed to suspend retaliatory port fees on each other’s vessels for one year, marking a significant pause in a central pillar of the Trump...
October 30, 2025
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