HHI Reports Surge in Shipbuilding Orders
South Korean shipbuilder Hyundai Heavy Industries (HHI) Group said it has won 62 new ship orders worth $3.8 billion for January-May period this year, a 500 percent increase for the comparable period last year when it received 12 ship orders worth $1 billion. In May alone, HHI Group netted 20 ships worth $1.3 billion, and the total number and value of ships HHI Group won in May can be increased to 29 ships and $1.9 billion if all the options the group has are to be exercised.
LNG Sellers, Asian Buyers Spar Over Contract Terms
A spat brewing between Qatar, the world's No.1 producer of liquefied natural gas (LNG), and its biggest customers in Japan underscores rising tensions between buyers…
Baltic Index Hits 14-Week Low
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, dropped on Thursday to its lowest level in 14 weeks on falling rates across vessel segments.
Rickmers Files for Insolvency
German shipping group Rickmers said it had filed for insolvency on Thursday, a day after it announced that its restructuring plan had failed to win approval of bondholder HSH Nordbank.
PBES Unveils Enhanced Marine Battery Systems
Plan B Energy Storage (PBES) has announced a revolutionary new solution for enhancing the lifecycle benefits of marine battery systems. ‘CellSwap’ uses a new cost…
Nordic Countries Partner for Chemical Protection Exercise
A joint oil and chemical protection exercise between the Nordic countries will involve more than 300 personnel and 30 vessels, making for one of the largest projects of its kind in European history.
