Strong developments in the cruise business sends Italian shipbuilder Fincantieri into the black for 2016, though the crisis in offshore continues to weigh down the group. Fincantieri "has left behind the longest sector crisis on record," says CEO.
One of Europe's biggest logistics and forwarding companies, Kuehne+Nagel, will take the container carriers' abilities to go digital into account when signing orders in the future, CEO Detlef Trefzger tells ShippingWatch.
Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries have both delivered large profits in the first quarter. According to local media, the improvement is largely attributed to comprehensive streamlining efforts.
It is a fact that unmanned vessels will soon hit the water. VP of Innovation at Rolls-Royce, Oskar Levander, talks to ShippingWatch about his projections for which vessel types will be ready when, and what drives the development.
Order intake for Wärtsilä's maritime business declined 15 percent in the first quarter, and the Finnish company points to continued overcapacity in the market. But there could be improvements in store by the end of this year, notes the company.
Unmanned vessels are no longer a remote dream for the future, but could in fact become a game change for the industry a few years from now, senior researcher Øystein Engelhardtsen of DNV GL tells ShippingWatch. However, there are still big challenges ahead in terms of legislation and technology before the ships take over the wheel.
US shale oil is now being produced at such a rate that it could threaten the stability currently enjoyed by the sector, projects Rystad Energy. One of the major suppliers of offshore rigs, shipbuilder Keppel, does not see a recovery anytime soon.
The three major Japanese container carriers: MOL, NYK Line, and K-Line, which are poised for a merger, all have faith in advancements this year, as indicated in their annual reports published Friday morning.
Gas carrier Exmar went red in the first quarter in the weak LPG market where too many vessels are undermining an otherwise historically strong US gas export. The carrier has also called off negotiations to acquire a Dutch FSRU fleet.