Press Releases
Hanwha Group has unveiled a $5bn expansion plan for Hanwha Philly Shipyard as well as ordering 10 tankers to be built in Philadelphia, in a landmark moment for Korea-US industrial cooperation designed to revive American […]
Cosco Orient Overseas (International) Ltd (OOIL), the listed entity of Hong Kong container line OOCL, has conceded that October’s likely introduction of extra port fees for Chinese-linked tonnage could be painful. OOCL, owned by China’s […]
Suezmax spot rates are surging as Kazakhstan runs into mounting difficulties with its oil exports, tightening the tonnage list across the Mediterranean and beyond. Kazakhstan has suspended flows via the Baku–Tbilisi–Ceyhan (BTC) pipeline after chloride-contaminated […]
HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the holding company of HD Hyundai Group, has struck a deal to acquire Doosan Vina, the Vietnamese manufacturing unit of Doosan Enerbility, in a transaction worth 290bn […]
A Panama-flagged chemical/oil products tanker has reportedly been severely damaged in Russian drone strike at the port of Izmail, Ukraine. The 7,842 dwt Excellion was moored at the eastern pier of the Izmail Oil Transshipment […]
Baltimore’s already bruised maritime sector was dealt another scare on Monday evening when a Greek-owned coal carrier suffered a spectacular explosion as it departed the port. The 81,681 dwtW Sapphire, managed by Athens-based W Marine […]
The big ports deal involving CK Hutchison has hit choppy waters. The Hong Kong-based conglomerate confirmed yesterday that its planned sale of 43 global ports for just shy of $23bn is unlikely to be completed […]
Ukraine’s Special Operations Forces have struck the Russian port of Olya in the Astrakhan region, destroying a vessel loaded with components for Iranian-made Shahed drones and ammunition. The attack, carried out on August 14 in […]
Norwegian shipleasing specialist Ocean Yield and KKR-managed vehicles have agreed to acquire CapeOmega Gas Transportation from private equity firm Partners Group, expanding their exposure to the LNG sector. CapeOmega holds joint ownership in a fleet […]
The US decision to go public on its offensive against the International Maritime Organization’s proposed net-zero framework has created considerable debate within the shipping community. Various ministers within the Donald Trump administration issued a joint […]
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