Finnish equipment manufacturer Wärtsilä lowers its guidance for 2019's operating profit. Among other things, the order intake in the maritime business has been worse than expected. The company has previously reported a decline in scrubber orders.
Fincantieri-owned shipbuilding group Vard was injected with new equity after a 2018 that saw a deficit exceeding USD 210 million after taxes, according to business media.
According to ABB, the digital area will become increasingly bigger, and senior VP says in an interview with ShippingWatch that the coming years will be marked by "huge growth."
Following the recent drone attacks on its oil processing facilities, Saudi Arabia has just entered the US-led seaborne oil protection coalition, which also includes Australia, Bahrain and the UK.
LNG is the way forward in the next decade in terms of environmental fuel for the shipping sector, says a new report by classification bureau DNV GL.
Asset sales and closures are behind Endofa's largest profit since its founding. The company's 2018 financials show, however, a dramatic decline in revenue and personnel head count. Only two employees remain in the company, currently operated from the US.
Norwegian shipbuilding and service company Kvaerner intends to increase its revenue by 40 percent over the coming four years. This growth is to stem from two new focus areas, renewable energy and floating production units.
Video footage emerged Monday showing the hours ahead of two Maersk ships sinking while under tow. Maersk stakeholder KLP also expressed concern about the shipping company's shipbreaking partners in India after a yard worker died.
Stock prices at the three major South Korean shipbuilders rose considerably over the past month. This is especially due to a wave of new orders, and the trend is expected to continue throughout the year, news agency writes.
Monjasa moves the location of its Copenhagen office. The Danish bunker company is moving from Amaliegade to the shipping cluster in Tuborg Havn, where several of the largest Danish shipping companies reside.
Hamburg Commercial Bank defies current trends with credit facilities for ships aged as much as 15 years. "It is a very low risk business," says the bank's head of shipping, eying a gap in the market.
With the acquisition of three ships, Clipper Group CEO Peter Norborg now deems the company is "through the worst", he told ShippingWatch. Read about the tensions between Iran and the US, optimistic drilling analysts and 2020 preparations.
Wired Bunkering is no longer on Singapore's list of marine fuel suppliers. The number of bunker operators at the port has fallen drastically in recent years.
Maersk Oil Trading has entered yet another agreement with a refinery to produce low-sulfur fuel oil. This time with a refinery in Rotterdam.
Climate mitigation could end up creating a lot of new jobs, writes the OECD in a report. The new regulations for ballast water management, entering force this Sunday, are just one piece of the puzzle. MAN Energy Solutions, however, believes more in a need for new competencies.
Endofa's annual report for 2018 has been delayed due to closings and divestments internationally, the company informs the Danish Business Authority. The bunker company's deadline has been extended to mid-September.
Modern American Recycling Services, which is set to soon open a new scrapyard in Northern Denmark's Port of Frederikshavn, now lashes back at US-based investor Tom Clarke. The yard is pursuing a counterclaim against its partner, who has had two rigs arrested in Denmark.
As Riyadh prepares Aramco's IPO, Saudi Arabian Energy Minister Khalid Al-Falih has been removed from his position as chair of the state-owned oil giant – the second time this week his role has been reduced.
2019 surprised some of the industry's most experienced experts. But the year also proved that the shipping industry is capable of responding, says Maritime & Merchant CEO, Halvor Sveen, in an interview with ShippingWatch. However, the bank is staying clear of one segment.
Hamburg Commercial Bank, formerly known as HSH Nordbank, added new shipping loans worth EUR 500 million in the first half of 2019. The bank aims to issue new shipping loans totaling EUR 900 million each year.
Two acquisitions boosted Norwegian supplier Kongsberg's revenue, order intake and staff size in the second quarter of 2019. Meanwhile, the group's profits dwindled.
The first indication of the price difference between low-sulfur oil and conventional ship fuel is that shipping lines using scrubbers have made a good investment, Alphaliner assesses.
The extent of Dan-Bunkering's potential breach of the EU's Syria-related sanctions might be three times bigger than previously known, Danish broadcaster writes.
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