The South Korean shipbuilder's bottom line took a dive in the second quarter compared to last year, when one-off gains boosted the group's results. And a sale of a loss-making unit will hurt the third quarter figures.
South Korean yard Hyundai Heavy Industries will preserve jobs by shifting some of its work to the offshore yard which the group previously announced it would temporarily close. Several thousand jobs are still in danger.
The UK's largest port operator, Associated British Ports, has formed a partnership with Svitzer and Rolls-Royce to develop new technological innovation. Dynamic location systems are one of the new technologies to be rolled out.
The South Korean shipbuilders finished first in terms of new ship orders in the first half of the year, and the yards were responsible for almost half of all new orders placed in July.
Taiwanese liner company Yang Ming's deficit grew in the second quarter, a significant factor being the 25 percent increase in bunker cost. The company hopes for better conditions as early as next year.
European nations are far behind Mexico and China when it comes to receiving liquefied natural gas from the US, but the region is making its biggest effort to date to change that.
A collapsed merger in South Korea has triggered large deficit at Wilh. Wilhelmsen. The value of the Norwegian group's investment in a South Korean company decreased significantly in the second quarter.
The sale of assets is happening slower than expected at South Korean yard STX. The yard is pressured to sell assets in order to finance itself after receiving assistance from the government earlier this year.
An unintentional consequence of US President Donald Trump's trade war on China is that China proposes to impose tariffs on the import of LNG and crude oil from the US, according to Reuters.
DFDS is bracing itself for long lorry queues in Dover after Brexit, bad bunker reached the world's largest bunker port and DSV's guidance upgrade were among this week's top stories on ShippingWatch. Also read about Kontainers, which will challenge startups such as US firm Flexport.
The Chinese government plans to impose tariffs on USD 60 billion worth of US imports if the Trump administration follows through on its latest trade threats.
The world's oil refineries are starting to bring down stockpiles of sulfur-rich fuel in anticipation of a demand collapse in less than 18 months when the IMO's global fuel sulfur cap comes into force on Jan. 1, 2020.
Rolls-Royce's Norwegian marine business has been very expensive for the British motor maker. Deficit and capital injections have run up several billion in Norwegian kroner.
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.
The US is considering whether to increase its proposed tariff on USD 200 billion worth of Chinese goods to 25 percent from 10 percent, increasing pressure on Beijing to change its trade practices.
Shipbuilding group Fincantieri reports a modest profit for the first half of the year, while its subsidiary Vard in Norway saw revenue grow though its deficit deepened. Find the numbers below.
A surge in demand for scrubbers makes the major suppliers work even faster to keep up. At Wärtsilä, there is still room to install scrubbers in 2019, but it is getting tight, the company tells ShippingWatch.
More than 60 percent of newbuilds at South Korean shipyards in the first half of the year included a scrubber order, writes Seatrade Maritime.
The two South Korean yards Samsung Heavy Industries & Hyundai Heavy Industries both booked deficits in the second quarter this year, report media. Several factors impacted Samsung Heavy.
Norway's Wilhelmsen is setting aside plans to acquire Drew Marine Technical Services after a US court decision.
Wärtsilä's orders grew 14 percent in Q2, where shipowners' demand for solutions to environmental legislation rose. Recently, the supplier landed a large order for MSC.
Swiss Kuehne + Nagel grew in seafreight in the first six months of the year, the company's revenue and earnings also grew.
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