U.S.-based offshore supply vessel company Tidewater has completed its merger with rival Gulfmark Offshore, thereby creating a new global leader in the offshore support vessel sector in terms of total fleet size. Tidewater Inc. (NYSE: TDW) announced the closing of the deal on Thursday with support from over 99% of shareholders from both companies. All closing conditions for […]
Breaking News
NYK Unveils Zero-Emission Pure Car and Truck Carrier Concept
Japanese shipping company NYK has unveiled plans for a zero-emission Pure Car and Truck Carrier (PCTC) that could help the group achieve its long-term decarbonization goals. The conceptual design, which NYK calls the Super Eco Ship 2050, builds on its previous concept ship the NYK Super Eco Ship 2030, unveiled in 2009, but with an […]
An $8 Billion Payout From Maersk Raises Questions for Creditors
By Christian Wienberg (Bloomberg) — Shareholders in the world’s biggest container-shipping company may get up to $8 billion in payouts next year, according to Goldman Sachs. That’s great news for equity investors in A.P. Moller-Maersk A/S, but it raises a number of questions for the Danish company’s creditors. According to Danske Bank, big shareholder rewards […]
Trade War Finally Hits Commodity Shipping, Confounding Optimists
By Prejula Prem and Firat Kayakiran (Bloomberg) — The commodity shipping industry was expected to sail through the trade war unscathed. Tariffs were being slapped on hundreds of goods and yet shipping rates for dry bulk — the segment that hauls billions of tons of coal, iron ore and crops around the globe — kept […]
First Yamal LNG Cargo Shipped to China’s CNOOC via Northern Sea Route
Russian oil and gas firm Novatek has shipped it first cargo of Arctic gas produced at Yamal LNG to China National Offshore Oil Corporation. The LNG cargo was delivered to the Fujian LNG Terminal in China via the Northern Sea Route. The cargo was transported aboard an Arc7 ice-class LNG carrier in just 20 days, […]
Japanese, South Korean Trawlers Collide in Sea of Japan
TOKYO/SEOUL, Nov 15 (Reuters) – A South Korean trawler and a Japanese fishing boat collided in the Sea of Japan on Thursday about 330 km (205 miles) northeast of an island claimed by both countries, officials said. Part of the 48-tonne South Korean trawler was submerged after the collision, which occurred at 9:38 a.m. local […]
Major Box Carriers Seeking to Harmonize Digitalization in Shipping
By Alex Lennane (The Loadstar) – Shipping lines from each of the alliances have formed an association in a bid to develop “digitalisation, standardisation and interoperability”. The move follows last week’s announcement of a joint blockchain platform comprising the Ocean Alliance and Yang Ming from THE Alliance, which triggered questions as to how the industry would […]