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Volume recovery, cost-cutting measures help Hapag-Lloyd deliver strong results
German container shipping major Hapag-Lloyd reported strong earnings in the first nine months of this year, benefitting from volume recovery in the third quarter combined with stable freight rates and...
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AIDAnova on track to get its methanol-operated fuel cell in 2021
AidaNova; Image courtesy: Carnival Corporation The methanol-operated fuel cell system set to be installed on a cruise ship operated by AIDA Cruises, a Carnival Corporation brand, has reached a new...
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Moody’s: Shipping to end 2020 better than expected
The rating agency Moody’s has revised its outlook for the shipping industry from negative to stable as the sector outperformed the agency’s projections for this year. The rating agency said the...
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Kongsberg sees growth in shuttle tanker business despite pandemic
During 2020, Norway-based marine technology company Kongsberg Maritime won contracts for twelve of its shuttle tanker concepts, with a value totalling over NOK 400 million ($43.7 million). Shipyards...
View ArticlePacific International Lines offered $600M lifeline as it fights to avoid...
Pacific International Lines (PIL) is seeking protection from the Singapore High Court from winding-up or enforcement orders as it tries to get its noteholders on board with a comprehensive...
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Capital Gas takes delivery of LNG newbuild
Greek shipping company Capital Gas, a unit of Capital Maritime Group took delivery of its newbuild LNG carrier Aristos I. Courtesy of Capital Gas The vessel, capable of transporting 174,000 cubic...
View ArticleCargo ship catches fire off Greek coast, crew evacuated
A fire broke out on board a Togo-flagged general cargo vessel which was moored near Elafonissos, Greece, the Hellenic Coast Guard said. The fire started in the afternoon hours of 11 November. Its...
View ArticleFincantieri points to Q3 production recovery in an unprecedented year
Italian shipbuilder Fincantieri reported a 16% drop in revenues for the first nine months of 2020 reaching €3.53 billion, considerably impacted by the Covid-19 outbreak. The shipbuilder’s EBITDA stood...
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QLNG’s 4000-cbm ATB completes sea trials
Quality Liquefied Natural Gas Transport (QLNG) said its newly built 4000-cbm LNG articulated tug and Barge has completed sea trials. Courtesy of QLNG The vessel was built by VT Halter Marine yard and...
View ArticleA flurry of crude oil carrier orders for Korean shipbuilders surpasses $1...
Korean shipbuilding heavyweights have amassed over $1.06 billion in crude carrier orders in a single day having reported shipbuilding contracts for a total of 13 newbuilds. Korea Shipbuilding &...
View ArticleGoG: Pirates kidnap another 5 seafarers in just 4 days
Five crew members have been kidnapped by pirates from a Ghana-flagged vessel in another incident in the Gulf of Guinea. The 1,700 dwt cargo vessel, identified as Am Delta, was boarded some 44 nautical...
View ArticleScorpio Bulkers nets $101.5 million as it kicks up a notch its bulker selling...
Scorpio Bulkers Inc. has entered into agreements with two unaffiliated third parties to sell five Kamsarmax bulkers for a total of $101.5 million. The ships that will be changing hands are the SBI...
View ArticleCDB Leasing splashes $137 million on Oldendorff’s sextet
Hong Kong-listed China Development Bank Financial Leasing is buying six vessels from German shipowner Oldendorff Carriers GmbH & Co for $137 million. The vessels include six 60,000-ton bulkers,...
View ArticleDCSA, BIC make progress in standardizing container facility identification
The Bureau International des Containers (BIC) and the Digital Container Shipping Association (DCSA) said they have completed their collaboration to standardize the codes used to identify facilities...
View ArticleMHI sets terms of its 1st green bond
Japanese engineering major Mitsubishi Heavy Industries (MHI) is set to issue a $239 million (JPY 25 billion) green bond on November 24 as it aims to raise funds to support the decarbonization...
View ArticleGrieg Star creates innovation spin-off with sustainability in mind
Norwegian shipowner Grieg Star has set up a separate company, named Grieg Edge, to drive innovations within sustainable maritime services. As informed, the new subsidiary has already taken over the...
View ArticleF-drones carries out world’s 1st commercial drone delivery at night
This embedded content is only visible after accepting cookies. Change your preferences Singapore-based startup F-drones has carried out the world’s first commercial drone delivery at night to a vessel...
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ABB to supply power and propulsion systems for 5 Fincantieri-built ships
Technology company ABB has secured an order worth around $150 million to deliver a comprehensive scope of technologies to power next-generation cruise ships being built by Italian shipbuilder...
View ArticleEnvironmentalists blast UN for lack of ambition as IMO adopts GHG reduction...
The International Maritime Organization (IMO) has approved a number of measures aimed at cutting the shipping sector’s carbon emissions in the next decade. The measures adopted at the IMO’s Marine...
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Maersk delivers strong Q3 result, raises 2020 guidance
Danish container shipping major A.P. Moller – Maersk managed to grow earnings and cash flow in the third quarter of this year, despite the negative effect of the COVID-19 pandemic on global economies....
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