Despite a new slide in revenue and postponed wind projects, Semco Maritime reduced its deficit in 2017. A canceled power plant project in the renewables unit contributed to the deficit.
Bunker company Monjasa does not see itself as an acquisition target nor a player looking to buy in an industry where consolidation has intensified.
Japanese commodity traders fear they could become sanction targets and unable to pay Russian mining company Rusal in US dollars.
One in every three ships were inspected over the past three years for compliance with sulfur requirements in North Europe. Five percent of the ships did not meet the requirements, according to a new report from the EU Commission, which proposes more initiatives with global sulfur rules.
MAN Diesel & Turbo will supply engines for the 11 ultra-large vessels of 23,000 apiece ordered by MSC.
Erick Thürmer disrupted the company his great grand parents founded 120 years ago. As a key industry consultant, he advices prominent executives such as Maersk CEO Søren Skou. Now, Thürmer warns the entire maritime industry against sleeping on the clock.
After long-term preparations that led to two weeks of intense negotiations in London, the IMO's crucial meeting to settle a plan for shipping's CO2 reductions is now over and an agreement is settled. Emissions must be halved by 2050.
State-owned Korea Development Bank has accepted the rescue plan presented by yard STX Offshore & Shipbuilding.
In an open letter to the EU, several European parliamentarians warn against lowering the ambitions concerning CO2 emissions. Countries pulling in the wrong direction are gaining ground, says one MEP.
The South Korea government will place former major shipbuilders STX Offshore under court receivership. A union has rejected creditors' demands for huge cost reductions.
In his keynote address at the Boao Forum for Asia, Chinese President Xi Jinping warned against a return to "Cold War mentality" amid trade dispute with the US.
Towage company Kotug buys Canada's Teekay out of an Australian joint venture formed by the two companies.
After Hempel spent a few years cleaning up the aftermath of internal bribery cases, the coating producer will now be making acquisitions in 2018, says the Hempel CEO.
When South Korean shipbuilder Daewoo is on its feet again, the government will find a new owner for its stake, report several media. The announcement is part of a five year plan for the country's shipping industry.
The conflict between the US and China intensifies. US President Donald Trump is considering imposing tariffs for another USD 100 billion on Chinese-made products.
The escalating trade conflict between the US and China took a step further when US President Donald Trump published a list of 1,300 Chinese-made products which will be subject to tariffs. China responds by placing tariffs on 160 US-made products.
National interests and weak governance in the IMO risk undermining the comprehensive work of landing a strategy for shipping's CO2 emissions, sounds the criticism from NGO Transparency International just a few months after the IMO received similar criticism from a different source.
Hanseaticsoft grew its revenue 40 percent in 2017 and now supplies fleet management software to more than 1,300 ships around the world. The plan now is to break through in Asia, CEO Alexander Buchmann tells ShippingWatch.
The Norwegian oil major has distributed over EUR 1 billion worth of contracts across 18 platforms to Archer, KCA Deutag and Odfjell.
It would be possible for the shipping industry to become virtually carbon neutral by as early as 2035, according to a new report from the International Transport Forum under the OECD. Several different scenarios could pave the way.
China wants to get in the game of trading financial oil products and is now launching a new future.
China opted not to implement a penalty tariff on US soy bean imports due to the serious consequences that such a move would trigger, reports US media.
Statoil CEO Eldar Sætre got a close to 30 percent raise in salary and bonuses last year compared to 2016, according to the oil major's annual report. Particularly one bonus made its mark.
11 small parcels from North Korea were transported by a Maersk company, reported ShippingWatch this week. Other stories include the prospect of tariff barriers and a police report filed against Maersk Supply Service.
Strained Noble Group, which is fighting for survival, is being sued by an Indonesian coal miner in a case that could jeopardize some of its remaining businesses.
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