Shipping Recovery Boosts Hapag-Lloyd's Earnings
Full-year operating profit up by 32 percent.Container shipping firm Hapag-Lloyd said volume growth and a modest recovery in freight rates in the second half of 2018 helped push operating profit 32 percent higher, lifting shares in the German group on Monday.Hapag-Lloyd said preliminary earnings showed operating profit before interest and tax (EBIT) rose 32 percent to 443 million euros ($502.81 million) in 2018…
Environmental Concerns to Lift LNG Demand
China LNG demand soars amid push to reduce pollution; LNG demand to reach 384 mln tonnes in 2020 -Shell.Global liquefied natural gas (LNG) trade is set to rise 11 percent this year as China leads a global drive to reduce pollution and tackle carbon emissions, Royal Dutch Shell said in an annual LNG report on Monday.Shell's forecasts, which see LNG demand rising to 354 million tonnes this year and to 384 million tonnes in 2020…
Maersk Drilling Mulls Listing in Recovering Market
Drilling rig contractor Maersk Drilling, which will soon list on the Copenhagen stock exchange, said the offshore drilling market is improving as oil firms generate more cash and look to boost reserves.A fall in oil prices in 2014 prompted a severe downturn in the industry as oil companies cancelled or postponed exploration plans, reducing demand for offshore drilling rigs."What drives our faith in a market recovery is to a high degree the higher activity we see from the oil companies…
Scania Appoints Karin Rådström as EVP
Swedish manufacturer of diesel engines for marine industry Scania announced that Karin Rådström has been appointed Executive Vice President and Head of Sales and…
DOF Bags Three ROV Contracts in Brazil
Norwegian supply shipping company DOF Subsea has been awarded contracts for three remotely operated (ROV) Support Vessels (RSV) with Petroleo Brasileiro S.A. (Petrobras).All…
EPIK, Hyundai Join for FSRU Projects
South Korea-based liquefied natural gas (LNG) floating storage and regasification unit (FSRU) project development company EPIK Co. has signed a strategic partnership…
EU Okays Danish Seafarer Support Scheme
The European Commission has approved under EU State aid rules extending a scheme supporting the maritime transport sector in Denmark, including the ones working…
Wind Provides 14% of European Electricity
Wind energy provided 14% of the European Union’s electricity last year, according to figures published by the region’s wind energy trade body, WindEurope, with 11.7…
Marina Urges RoRos to Service 'Missionary Routes'
Philippines' Maritime Industry Authority (Marina) is encouraging shipping companies to deploy ships to missionary routes to enhance the connectivity of the country’s…
Upgrades at Matadi Gateway Terminal
The recent call of the 2,500-TEU capacity Safmarine Nuba at the Matadi Gateway Terminal (MGT), an ICTSI Group company, opened the door to major new shipping system…
Flexport Nabs USD1bln
San Francisco-based freight forwarder Flexport announced a unding injection of $1 billion led by the venture capital (VC) arm of Japanese investment firm SoftBank…
Adnoc Signs USD4bln Pipeline Deal
Abu Dhabi State-Owned Oil Company Adnoc has sealed a $4 billion midstream pipeline infrastructure deal with BlackRock, the world's largest asset manager, and private…
Acta Centaurus Nears Completion
Netherlands-based Acta Marine announced that its next offshore wind farm installation vessel will be ready in next two months."‘Acta Centaurus will be completed…
Michael Müller New CEO of Bavaria Yachts
Bavaria Yachts, the producer of sailing and motor yachts in Europe, has appointed Michael Müller as the new Chief Executive Officer (CEO) of the Bavaria Yachtbau GmbH in Germany.
U.S. Fracking Shrinks by 25% in 2H2018
The new median estimate for nationwide fracking activity in December 2018 suggests 36 frac jobs per day, said a research.The energy research and business intelligence…
Beneteau Partners with Raceix
The sail and motor boat manufacturer Beneteau Boats, has announced a Development Partnership Agreement (DPA) with Irish marine technology company Raceix.Raceix,…
Royal Marines Light Up Arctic Circle
UK's Royal Marines lit up Arctic fjords and valleys as they laid down mortar rounds in the dark during winter training in Norway, said a press release from the Ministry…
Crude Tanker Spot Rates Soften
Crude tanker spot rates improved significantly during the fourth quarter of 2018, spurred by both winter market seasonality and positive underlying supply and demand…
Oil and Gas Projects to Triple in 2019
A surge in final investment decisions (FIDs) this year on new petroleum projects worldwide could see sanctioned volumes of oil and gas – excluding shale and tight…
Pronto Reduces Bunker Delays
The number of Maersk vessels experiencing delay at APM Terminals at Maasvlakte II as a consequence of bunker activities reduced significantly during a Pronto pilot.The…
