H-Line Shipping orders newbuild LNG bunkering vessel
HJ Heavy Industries has received an order for an 18,000m3 LNG bunkering ship from H Line Shipping for KRW127.1 billion ($87.6 million). “As the second-term Trump administration in the United States...
View ArticleYara Clean Ammonia and NYK conclude world’s first time-charter agreement for...
Yara Clean Ammonia, the world’s largest ammonia distributor, signed a time-charter contract with Nippon Yusen Kabushiki Kaisha (NYK) for an ammonia-fueled medium gas carrier (AFMGC) to be delivered in...
View ArticleMPC Capital expands maritime services business with energy efficiency and...
The investment and asset manager MPC Capital has acquired a 50% stake in the performance management company BestShip GmbH & Cie. KG from Norwegian maritime group Wilhelmsen. This strategic...
View ArticleHapag-Lloyd nears $1.2 Bil. deal with Hanwha Ocean for LNG Dual-fuel...
Hapag-Lloyd, the world’s fifth-largest shipping company, is reportedly in the final stages of reviewing an order for six LNG dual-fuel container carriers from South Korea’s Hanwha Ocean. The contract,...
View ArticleSuspected Somali pirates seize boat off Horn of Africa
Suspected Somali pirates have seized a Yemeni fishing boat off the Horn of Africa, authorities said late Monday. A European naval operation in the Mideast, known as EUNAVFOR Atalanta, said the...
View ArticleProkopiou Group: 110 vessels under development
George Prokopiou’s shipping group is currently developing a shipbuilding program of approximately 110 ships. The largest ever undertaken by a Greek shipping group. Prokopiou, who entered shipping in...
View ArticleBaltic index slips on lower capesize, panamax rates
The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a second straight session on Tuesday, dragged down by weaker rates across...
View ArticleIron ore retreats as Trump tariff threats counter potential supply disruptions
Iron ore futures erased early gains to trade lower on Tuesday as unrest from U.S. President Donald Trump’s new tariffs outweighed concerns over weather-related supply disruptions in major supplier...
View ArticleThessaloniki port’s Master Plan gets the green light
The long-awaited presidential decree approving the Master Plan for the port of Thessaloniki was published in the Official Gazette, opening the way for the implementation of the major investment for...
View ArticleUnion Bulk expands its office in Singapore
The Union Bulk announced that it expands its office in Singapore. “Following our organizational restructuring in the second half of 2024, we have established a strong foothold in the Pacific market...
View ArticleFSL Trust posts $11m net profit in 2024
FSL Trust Management, the trustee manager of First Ship Lease Trust, reported a net profit of $9.3m (US$6.9m) and $11.2m (US$8.3m) for the second half and full year 2024, respectively, according to a...
View ArticleZululand Energy Terminal signs agreement to operate South Africa’s first LNG...
Zululand Energy Terminal, a joint venture between Vopak Terminal Durban and Transnet Pipelines (TPL), has officially signed the Terminal Operator Agreement (TOA) with Transnet National Ports Authority...
View ArticleHMM sees 2024 earnings & profits rise
HMM reported revenue of KRW 11,700 billion (US$8 billion), operating profit of KRW 3,513 billion (US$2.42 billion), and net profit of KRW 3,781 billion (US$2.6 billion) in 2024. All major financial...
View ArticleHanwha Ocean to build LNG carrier pair for subsidiary
Hanwha Ocean revealed an order for the two LNG carriers, slated for delivery in the second half of 2027. The shipbuilder valued the contract at approximately US$504M and disclosed the buyer is Hanwha...
View ArticleBaltic index declines for third day as capesize plunges to 2-year lowBaltic
The Baltic Exchange’s dry bulk sea freight index, which measures shipping rates for vessels transporting dry bulk commodities, fell for the third straight session on Wednesday, with the capesize...
View ArticleIron ore rebounds on worries over potential supply disruptions
Iron ore futures rebounded on Wednesday, as investors shifted focus back to worries over potential supply disruptions from major producer Australia and prospects of growing demand in top consumer...
View ArticleWallenius Wilhelmsen closes record-year with another solid quarter
The financial result for the full year of 2024 is another record-breaking result for Wallenius Wilhelmsen as it exceeds the 2023 results. Adjusted EBITDA for 2024 totals USD 1,901m in 2024, up from...
View ArticleSeatrium and bp sign MOU for second deepwater floating production unit project
Seatrium Limited announced the signing of a Memorandum of Understanding with BP Exploration & Production in preparation for a second project, the Tiber Floating Production Unit, in the US Gulf of...
View ArticleMitsui E&S starts testing of large bore low-speed ammonia dual-fuel engine
MITSUI E&S announces that on 10th February 2025, the test operation of the MITSUI-MAN B&W 7S60ME-C10.5-LGIA-HPSCR Large-bore Low-Speed Ammonia dual fuel engine (Maximum continuous output:...
View ArticleCOSCO Energy orders 6 new tankers
COSCO Shipping Energy Transportation (CSET) has ordered 6 new tanker vessels at a price of CNY 3.496 billion ($378.3 million). The order consists of two aframax tankers, two LR2 vessels, and two...
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