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LR, Cargill, Minerva Dry & NACKS to develop new energy efficient, methanol ready Kamsarmax bulker

Lloyd’s Register (LR), Cargill International, Minerva Dry Inc. and Nantong COSCO KHI Ship Engineering Co Ltd (NACKS) have collaborated on the design of a...

Shipping Has No Easy Path To Decarbonization – UNCTAD

The shipping industry lacks clarity on future clean fuels and regulatory systems which is holding back companies from replacing ageing vessels amid pressure to...

Vale, Port of Açu to develop Mega Hub for decarbonization of steelmaking

Vale has signed an MOU with the Port of Açu to study the development of a Mega Hub at the port located in São...

MOL, NYK and K Line collaborating to develop hydrogen carriers

Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kabushiki Kaisha (NYK) have joined JSE Ocean, a subsidiary of Japan Suiso...

Maritime industry explores nuclear power for ships as technology opens up

The maritime industry is exploring whether nuclear fuel can be used to power commercial ships as advancements in technology open up such options, industry...

Big Emissions Bills Are Coming for Ships Sailing in Europe – report

Ships carrying everything from consumer goods to food and fuel in and out of the European Union will soon face hefty emissions bills. The maritime...

Maersk Sets up Green Methanol Fuel Company

Maersk has teamed up with its majority owner to form a new company to produce “green methanol”, the shipping company said on Thursday, as...

Maersk Taps Investors for First Dollar-Denominated Green Bond

Shipping giant A.P. Moller-Maersk A/S is selling dollar-denominated green bonds for the first time ever, the latest company to test investor appetite in a...

Shippers bet on green methanol to cut emissions, supply lags

Container shippers are ordering vessels powered by methanol to reduce greenhouse gas emissions, but it will take years for renewable methanol output to meet...

Mitsubishi Shipbuilding developing ammonia handling system

Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, is currently developing the Mitsubishi Ammonia Supply and Safety System (MAmmoSS®), an...

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Scorpio Tankers takes options to buy back over 20 ships

In a relevant SEC filing, Scorpio Tankers announced extensive vessel repurchases via sale and leaseback arrangements, including for the 2016-built LR2 product tanker STI...

TOP Ships Announces Reverse Stock Split

TOP Ships announced that it has determined to effect a 1-for-12 reverse stock split of the Company’s issued common shares. The Company’s shareholders approved the...

Carnival Earnings Outlook Misses While Fuel Costs Near 15-Year High

Carnival Corp. posted a profit for the first time since 2020 but issued a fourth quarter earnings outlook that missed Wall Streets’ expectations as...

Sphinx Investment Corp Increases Stake in OceanPal

On September 28, 2023, an OceanPal SEC filing revealed that Sphinx Investment Corp. had raised its ownership in OceanPal, now holding a substantial stake...

Star Bulk Announces the Repurchase of 10 Million of Its Common Shares

Star Bulk announced that it entered into a Repurchase Agreement (with OCM XL Holdings, LP, a limited partnership incorporated in the Cayman Islands, pursuant...

MSC to buy 50% stake in Italian passenger rail group Italo

Shipping group MSC has entered into a binding agreement to acquire a 50% stake...

Higher capesize rates drive Baltic index higher

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Baltic index snaps 4-day winning streak as capesize rates slip

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Baltic index scales 11-month peak on strong capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Baltic index scales over 9-month high on capesize surge

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Ukraine: 5 More Cargo Ships Head For Black Sea Ports – report

Five more ships are on their way to Ukrainian sea ports using a new corridor opened to resume predominantly agricultural exports, an alternative arrangement...

Piraeus Port reports strong H1 2023 results

The Piraeus Port Authority SA, which operates Greece’s biggest and busiest port, reported a 48.8-percent increase in pre-tax earnings for H1 2023 – 49.4...

Greece names Thessaloniki port operator preferred bidder for Volos port

Greece’s privatisation agency has named the operator of Thessaloniki port as the preferred bidder for acquiring a 67% stake in the port of Volos,...

Drewry: Port Throughput Index Down 2.1% in July

The Global Container Port Throughput Index fell 2.1% MoM in July 2023, with the small rises recorded in Africa and Oceania having been insufficient...

Vopak: Agreement with Infracapital on sale of Rotterdam chemical terminals

Vopak announces that it has reached an agreement with Infracapital on the sale of its three chemical terminals in Rotterdam (Botlek, TTR and Chemiehaven)...