Russian port company Global Ports, of which Maersk owns one third, delivers an increased revenue for the first half of the year. However, earnings dropped, and this development is expected to continue in the second half.
State-owned Russian nuclear company has presented a plan for several banks to invest billions of dollars in, among other things, container shops, in an effort to become one of the world's largest shipping companies. The Northern Sea Route plays a key part in the business plan, reports Russian media.
Dan-Bunkering could not have handled the sale of jet fuel to the Russian military differently, for instance ensuring who would be the final buyer of the fuel. And the procedures will not change going forward, Bunker Holding CEO Keld Demant tells ShippingWatch.
Russia's Sovcomflot has already surpassed its expectations for the beginning of 2019. This comes after two weak years in the tanker market where the company booked deficits and impaired the value of its fleet.
As ice caps melt due to some of the warmest temperatures ever recorded, a new energy trade route is opening up north of the Arctic Circle. The development alarms NGOs but represents an opportunity to shipping players such as LNG carriers.
JSC Zaliv Shipyard, a major Russian yard that builds both container ships and tankers, has now been added to the EU's sanction list because it participated in the construction of the Kerch bridge to the annexed Crimea penninsula. This is the first time a yard has been added to the list.
Sovcomflot's huge LNG tanker vessel Christophe de Margerie (photo) has set a new time record for sailing north of Russia in July from the Yamal Peninsula to the Bering Strait without assistance from ice-breakers.
The sanctions against Russian mining behemoth Rusal increases uncertainty in the dry bulk market, causing displacements throughout the supply chain, say stakeholders such as Norway's Torvald Klaveness.