Oil prices and production send Lundin skyward
The Swedish oil firm more than doubles its result from the first quarter after both production and oil prices have received a boost.
ShippingWatch
A part of Watch Media
The Swedish oil firm more than doubles its result from the first quarter after both production and oil prices have received a boost.
Engine manufacturer MAN has been selected to supply a methanol engine for Maersk's coming CO2 neutral container vessel, scheduled to sail on green methanol in 2023.
WinGD took a big hit from the pandemic in 2020, with the lowest number of new orders in a decade, the CEO tells ShippingWatch. However, with the surge in the container market came better times for the Swiss engine-maker.
Uncertainty looms large for carriers who would like to get moving with the transition to sustainability, says Wärtsila's CEO in an interview with ShippingWatch. He points to multi-fuel engines as a possible broad solution for carriers.
TotalEnergies and Technip, two French energy companies, will collaborate on the development of production facilities that can produce and supply LNG with low CO2 emissions.
Crude inventories grow for the first time since May, though an increase in US stockpiles is offset by expected uptick in oil demand.
While challenges in the transport chains triggered by Brexit are diminishing for larger operators, smaller British exporters are still plagued by complicated customs systems, paperwork and limited logistics solutions, a report reveals.
Scrubber suppliers such as Pureteq og ME Production took a big hit from the drop in oil price and the global pandemic, which shut down key markets in Asia. A year later, the oil price stands as a beacon of hope for the suppliers.
Yards in the major shipbuilding nation are expected to report lower results in the second quarter, with higher steel prices pulling down profits.
Marine fuel sales in China have risen for the fifth straight year, spurred by competitive prices and an expansion of port and refining facilities. Singapore's status as the dominant supplier on the Asian market is under threat.
Maersk Broker's consulting business is joining forces with McKinsey to find a solution that will assist the shipping industry in creating a roadmap for its climate efforts and help guide investments.
Swedish Alfa Laval exit the second quarter with a dense orderbook, where several orders for vessels in the industry have helped boost the Swedish supplier of environmental system and pumps.
Finnish supplier Wärtsilä grew its orderbook in the first half of the year, but this was not enough to pull up the results in an "uncertain" market.
Ship recycling rates are surging at scrap yards, driven mainly by more expensive steel and fewer ships sent for scrapping, writes major buyer GMS in an update.
Azane Fuel Solutions, a joint venture between Amon Maritime and Econnect Energy, plans to build the world's first ammonia bunkering facility for ships. The facility will be located in Norway.
Wärtsilä launches a new test program for carbon-free solutions, and the Finnish supplier expects to have an engine that can sail on an ammonia fuel blend ready before the end of the year.
Even though this year's second-quarter result beat the preceding period, the Norwegian oil company is still stuck with a bottom-line loss.
Cobham Satcom, formerly Thrane & Thrane, is growing rapidly with new owners at the helm and new markets for satellite communications. Satcom now expects revenue of USD 500 million in 2024, the CEO tells ShippingWatch.
With Nina Østergaard Borris in executive management at USTC, which her father, billionaire Torben Østergaard-Nielsen, has helmed since 1978, the focus lies on acquisitions and expanding the money-spinning business. But there are no goals for anything to eclipse the bunker business, tells Østergaard Borris in a rare interview with ShippingWatch.
Bunker One, a subsidiary of Torben Østergaard-Nielsen-owned USTC group, exits a "most challenging" financial year that saw increases in physical operations.
Chevron hires Norwegian company Aker Solutions to supply a gas compression system to the Jansz-Io field in Australian waters.
French container line CMA CGM will collaborate with oil company Totalenergies and other partners to set up a large-scale production of biomethane at Port of Marseille.
Anemoi Marine Technologies, supplier of rotor sails for merchant vessels, expects to triple its staff in the coming years and to complete 50 vessel installations a year in 2025, CEO tells ShippingWatch.
The Suez Canal, the world's most talked-about waterway, reports an increased revenue for the first half of 2021, a period marked by intense activity in the container and dry bulk market, reports Reuters.
Aker Solutions and AF Gruppen have signed an letter of intent concerning the merger of the two companies' existing offshore decommissioning operations.
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