krogragg

Category: Europe

  • US grants 30‑day waiver to let Russian crude already at sea be delivered to India

    US grants 30‑day waiver to let Russian crude already at sea be delivered to India The US Treasury has issued a narrowly targeted, 30‑day sanctions waiver allowing Indian refiners to accept Russian‑origin crude and petroleum cargoes already loaded aboard tankers by way of helping fill the gap left by the ongoing war between Iran and…

  • GMS pushes EU to recognise India’s ship recycling capacity

    GMS pushes EU to recognise India’s ship recycling capacity GMS, the world’s largest cash buyer of ships for recycling, has called on the European Commission to approve qualified Indian ship recycling yards for inclusion on the European List under the EU Ship Recycling Regulation (EU SRR). Over 110 Indian yards already hold Hong Kong Convention…

  • Scorpio Tankers lands long-term LR2 cover and shores up cash with triple sale

    Scorpio Tankers lands long-term LR2 cover and shores up cash with triple sale Monaco-based product tanker owner Scorpio Tankers has locked in long-term cover for two LR2s while agreeing to sell three ships, a move set to boost its cash position by about $110m. The New York-listed company said it has fixed the 2017-built 110,000…

  • Costamare orderbook hits 10 in 3,100 teu series

    Costamare orderbook hits 10 in 3,100 teu series Greek containership tonnage provider Costamare has expanded its newbuilding programme in China, adding four more 3,100 teu vessels to its growing series. The New York-listed owner, led by Konstantinos Konstantakopoulos, said it has signed up for the construction of the additional ships at a Chinese yard, with…

  • Diana rolls panamax bulker into improved SwissMarine fixture

    Diana rolls panamax bulker into improved SwissMarine fixture New York-listed Greek dry bulk owner Diana Shipping has fixed one of its panamax units on a fresh time charter, locking in a stronger rate as the ship rolls off its current employment. The 77,525 dwt ice-class Crystalia has been chartered to SwissMarine at $16,200 per day,…

  • Turkish Petroleum awards Black Sea gas field tie-back deal to Subsea7

    Turkish Petroleum awards Black Sea gas field tie-back deal to Subsea7 Offshore engineering and services player Subsea7 has won a variation order from the Turkish Petroleum Offshore Technology Centre (TP-OTC) for the Sakarya field development in the Black Sea, offshore Turkey. The award represents an extension to the contract announced by Subsea7 in August last…

  • Fredriksen, Ofer and Wilhelmsen line up full fleet sale at Edda Wind

    Fredriksen, Ofer and Wilhelmsen line up full fleet sale at Edda Wind Offshore wind vessel owner Edda Wind has entered into agreements for the potential sale of its entire fleet of service operation vessels (SOVs) and commissioning service operation vessels (CSOVs), including units under construction. According to a stock exchange filing from Wilh Wilhelmsen, the…

  • Pelagic Credit raises $58m ahead of Oslo debut

    Pelagic Credit raises $58m ahead of Oslo debut Pelagic Credit has raised NOK558m ($58m) in a private placement, clearing the way for its planned listing in Oslo. The Cyprus-based shipping investor said it attracted orders from “high quality” industrial and institutional investors. The company’s sponsor, Pelagic Partners, is contributing $48.1m through its managed funds, consisting…

  • Wallenius Wilhelmsen seals $190m contract renewal

    Wallenius Wilhelmsen seals $190m contract renewal Oslo-listed roro and logistics group Wallenius Wilhelmsen has renewed a shipping contract with a global automotive distributor, locking in an estimated net freight value of about $190m. The deal runs for two years firm and includes a one-year mutual extension option. It also features a fixed surcharge covering multi-fuel…

  • United European Car Carriers lifts newbuild tally to four

    United European Car Carriers lifts newbuild tally to four Oslo-based United European Car Carriers (UECC) is expanding its fleet with an order for two more eco-friendly car carriers in China. The shortsea roro operator, jointly owned by Wallenius Lines and Nippon Yusen Kaisha, has signed for a pair of 3,000 ceu vessels at China Merchants…

  • Naftomar tied to suezmax deal as rates break the $300,000 mark in the Persian Gulf

    Naftomar tied to suezmax deal as rates break the $300,000 mark in the Persian Gulf A suezmax deal concluded last week already looks well-timed amid a rapidly shifting geopolitical backdrop.  Two years ago, UAE-based VLKR Ship Management acquired the 156,000 dwt Karvounis (built 2013, Sumitomo), paying $67.5m for the scrubber-fitted Japanese unit and renaming it…

  • Zurich buys rival insurer Beazley

    Zurich buys rival insurer Beazley Swiss insurance giant Zurich is buying British rival Beazley for £8.1bn ($10.8bn), having had an earlier £7.7bn bid rebuffed.  Beazley, which features a significant marine portfolio, will be delisted from the London Stock Exchange but will remain a UK-based company. Mario Greco, Zurich’s chief executive, said: “Leveraging Beazley’s established Lloyd’s…

  • Radziwill’s CTM adds firepower with new investors

    Radziwill’s CTM adds firepower with new investors Bermuda-domiciled dry bulk operator C Transport Maritime has brought Japan’s Tokyo Century Corporation and Norway’s Barque onto its register as new shareholders. As part of the deal, both investors have taken equity stakes in the company and appointed representatives to the board. Financial details were not disclosed. CTM…

  • Navigator fixes newbuild financing

    Navigator fixes newbuild financing New York-listed Navigator Holdings has secured a $133.7m loan to finance two liquefied ethylene gas carriers under construction in China. The handysize LPG carrier specialist said subsidiaries Navigator Parsec and Navigator Pleione signed the facility agreement with ABN AMRO Bank, Crédit Agricole Corporate & Investment Bank and Nordea Bank Abp. The…

  • NYK and Ocean Yield expand LNG carrier series to eight ships

    NYK and Ocean Yield expand LNG carrier series to eight ships Japan’s Nippon Yusen Kaisha (NYK) and Norwegian shipleasing specialist Ocean Yield have bolstered their LNG carrier programme after declaring options for additional newbuildings to serve long-term charters with Cheniere Energy. The partners have doubled their orderbook at HD Hyundai Heavy Industries to eight large…

  • Marinakis tanker spin-off boosts Oslo IPO

    Marinakis tanker spin-off boosts Oslo IPO Capital Tankers Corp has increased the size of its Oslo private placement to $500m after strong investor demand, ahead of a planned listing on Euronext Growth Oslo next month. The tanker owner, backed by Capital Maritime & Trading Corp, said the share sale was multiple times oversubscribed, prompting the…

  • CMA CGM fills gap between Japan and Europe

    CMA CGM fills gap between Japan and Europe France’s CMA CGM is filling a gap linking the world’s third largest economy with the continent of Europe, launching Ocean Rise Express (OCR), a new weekly direct service linking Japan and South China straight to North Europe, offering what the carrier says are the best transit times…

  • McQuilling buys Spanish broker

    McQuilling buys Spanish broker New York tanker broker McQuilling has bought Madrid-based Medco Shipbrokers for an undisclosed sum, the latest in a period of significant consolidation for the shipbroking sector. “This integration enhances our combined market presence, broadens our service capabilities, and strengthens the value we deliver to clients and counterparties worldwide. By aligning our…

  • Reach Subsea lands Equinor pipeline survey deal

    Reach Subsea lands Equinor pipeline survey deal Norwegian offshore services player Reach Subsea has secured a contract from Equinor, acting on behalf of gas infrastructure operator Gassco, to carry out external inspections on about 3,500 km of subsea pipelines. The work covers a large part of Gassco’s pipeline network in Norwegian waters and along export…

  • Ernst Russ bolsters MPP fleet

    Ernst Russ bolsters MPP fleet Frankfurt-listed Ernst Russ is expanding its presence in the multipurpose segment with the acquisition of two modern heavylift vessels fixed on long-term charters. The Hamburg-based owner has bought the 12,500 dwt MPPs Ronnie and Charlie, both of which will be chartered to dship Carriers for seven years. The ships are…

  • Boskalis scores cabling work on German offshore wind farm

    Boskalis scores cabling work on German offshore wind farm Dutch dredging contractor and marine services provider Boskalis, in consortium with TKF Subsea Solutions, has signed a contract for the supply and installation of approximately 140 km of 66 kV inter-array cables for the Gennaker offshore wind farm in the German Baltic Sea. As part of…

  • Eldorado outbids Saipem in drillship sale

    Eldorado outbids Saipem in drillship sale Norwegian rig owner Deep Value Driller has agreed to sell its seventh-generation drillship Deep Value Driller to Eldorado Drilling for $300m, after a last-minute higher bid derailed a previously announced deal with Italy’s Saipem. The company had announced earlier this month that it planned to sell the 2014-built ultra-deepwater…

  • Lloyd’s Agency Network moves to Lloyd’s List Intelligence

    Lloyd’s Agency Network moves to Lloyd’s List Intelligence Commercial insurance market Lloyd’s will transfer management of the Lloyd’s Agency Network to Lloyd’s List Intelligence (LLI) from April, bringing one of shipping’s longest-running portside information networks under the control of the maritime data provider. The move will see LLI take responsibility for the administration of the…

  • Eidesvik wins PSV extension from Aker BP

    Eidesvik wins PSV extension from Aker BP Norwegian offshore vessel owner Eidesvik Offshore has secured a further contract extension from Aker BP for the platform supply vessel Viking Prince. The 2012-built PSV will remain on hire for about two more months, extending its current contract to the end of April. The latest award follows an…

  • Marinakis spins out tanker arm for $345m Oslo raise

    Marinakis spins out tanker arm for $345m Oslo raise Greece’s Capital Tankers Corp, a tanker owner linked to Evangelos Marinakis-led Capital Maritime & Trading, is preparing to list in Oslo, backed by a large crude tanker orderbook and plans to raise up to about $345m. The Athens-based owner aims to raise the NOK equivalent of…

  • UK hits shadow fleet and LNG trades in fresh Russia sanctions push

    UK hits shadow fleet and LNG trades in fresh Russia sanctions push The UK has rolled out its largest sanctions package against Russia since the early months of the war in Ukraine, with oil tankers and LNG shipping among the main targets as London looks to squeeze Moscow’s energy revenues. Nearly 300 entities have been…

  • Pistiolis-linked deal adds nine tanker newbuilds to Top Ships pipeline

    Pistiolis-linked deal adds nine tanker newbuilds to Top Ships pipeline New York-listed tanker owner Top Ships has agreed to acquire nine ECO MR product/chemical tanker newbuildings backed by long-term charter employment, in a deal carrying a potential revenue backlog of about $679m. The Greece-based owner said it will acquire 100% of the shares in nine…

  • Celsius seals Samsung Heavy LNG carrier order

    Celsius seals Samsung Heavy LNG carrier order Celsius Tankers, part of Danish owner Celsius Shipping, has placed an order for an additional 180,000 cu m LNG carrier with South Korea’s Samsung Heavy Industries. The deal brings Celsius Tankers’ LNG fleet to 24 vessels, bolstering the company’s ongoing expansion in the segment. Samsung Heavy Industries confirmed…

  • Opposition to ZIM’s sale to Hapag-Lloyd grows

    Opposition to ZIM’s sale to Hapag-Lloyd grows Opposition to Hapag-Lloyd’s planned takeover of Israeli line ZIM is growing, with union protests and the controversial sale debated at the Knesset, Israel’s parliament, yesterday. Hapag-Lloyd unveiled a $4.2bn takeover offer for ZIM a week ago (pictured), in a deal that would carve out a ‘New ZIM’ made…

  • Denmark detains sanctioned boxship

    Denmark detains sanctioned boxship Denmark’s maritime authority on Thursday detained an Iran-flagged container vessel anchored in Danish waters after determining it was not properly registered. LSEG data identify the ship as Nora, which was initially sailing under a Comoros flag. The Danish authority said Comoros had informed it the vessel was not found in the…

  • New Zealand unleashes its largest sanctions package aimed at Russian-linked shipping

    New Zealand unleashes its largest sanctions package aimed at Russian-linked shipping New Zealand on Friday unveiled its largest sanctions package to date, targeting Russia-linked shipping, expanding measures to include 23 individuals, 13 entities and 100 vessels, and lowering the oil price cap for Russian-origin crude to $44.10 per barrel. The announcement comes as the European…

  • Navios lines up $134m capesize duo

    Navios lines up $134m capesize duo New York-listed Navios Maritime Partners has moved to expand its dry bulk footprint, lining up two Japanese newbuilding capesizes under long-term bareboat-in arrangements. The Angeliki Frangou-led owner said in its quarterly earnings report it agreed to take the scrubber-fitted vessels from an unrelated third party on 12-year bareboat contracts.…

  • DHT VLCC clocks $90,000 a day on one-year deal

    DHT VLCC clocks $90,000 a day on one-year deal A 14-year-old VLCC pulling in $90,000 per day would have raised eyebrows not long ago. In today’s market, it is the latest sign just how tight conditions have become for the world’s largest crude carriers. New York-listed owner DHT Holdings has fixed the 2012-built 320,000 dwt…

  • Costamare locks in $940m with 12 forward charters

    Costamare locks in $940m with 12 forward charters Greek container tonnage provider Costamare has locked in nearly $1bn in fresh contracted revenues after fixing 12 vessels on a forward basis for periods stretching up to eight years. The Konstantinos Konstantakopoulos-led group said in its quarterly earnings report the new deals will generate about $940m in…

  • Finnish roro player Godby books up to four newbuilds in China

    Finnish roro player Godby books up to four newbuilds in China Finland’s Godby Shipping has ordered two roro vessels at CIMC Raffles in China, with options for two more units. The privately owned Åland-based operator, established in 1972, said the order supports its plan to renew the fleet and meet tightening environmental requirements while continuing…

  • United Maritime cashes out of offshore vessel JV

    United Maritime cashes out of offshore vessel JV Nasdaq-listed Greek bulker owner United Maritime has agreed to sell its stake in a Norwegian joint venture developing an energy construction vessel (ECV), locking in a profit as it reshuffles capital. The Stamatis Tsantanis-led spinoff of Seanergy Maritime said it will sell its equity interest for about…

  • Performance Shipping seals second try sale of its oldest tanker

    Performance Shipping seals second try sale of its oldest tanker Nasdaq-listed Greek owner Performance Shipping has agreed the sale of its oldest tanker for $35.65m, securing a deal months after an earlier disposal attempt tied to an offshore conversion project fell through. The company has struck a deal with an unnamed buyer for the 2009-built…

  • Seanergy adds two bulkers to newbuild slate

    Seanergy adds two bulkers to newbuild slate US-listed Greek owner Seanergy Maritime has expanded its newbuilding programme, signing for two additional capesize-class vessels at Chinese yards and lifting its total investment in new tonnage to about $226m. The Stamatis Tsantanis-led company, which placed its first-ever newbuilding order in October, has now lined up three large…

  • CLdN takes over Samskip’s UK and Ireland business

    CLdN takes over Samskip’s UK and Ireland business Luxembourg-based shortsea operator CLdN has agreed to acquire the UK and Ireland quay-to-quay and door-to-door freight business of multimodal group Samskip. The deal covers Samskip’s container shipping services linking Rotterdam with the UK ports of Belfast, Blyth, Grangemouth, Hull and Tilbury, as well as the Irish ports…

  • Taylor Maritime chalks up 51st bulker sale

    Taylor Maritime chalks up 51st bulker sale London-listed dry bulk owner Taylor Maritime has agreed the sale of another handysize vessel, taking its total disposals since 2023 to 51 ships. Further details of the latest transaction will be released on completion, the company said in a stock exchange filing. At the same time, the Ed…

  • Almi Marine back in newbuild arena with ultramax pair

    Almi Marine back in newbuild arena with ultramax pair Greek dry bulk player Almi Marine Management has returned to the newbuilding market after a four-year break, booking two next-generation ultramax bulk carriers in China. Managing director Christos Hadjigeorgiou confirmed on social media the company has signed a contract with Nantong Cosco KHI Ship Engineering (NACKS)…

  • ZIM sets out terms of $4.2bn Hapag-Lloyd deal, outlines New ZIM carve-out

    ZIM sets out terms of $4.2bn Hapag-Lloyd deal, outlines New ZIM carve-out New York-listed Israeli carrier ZIM Integrated Shipping Services has laid out the full terms of its agreed sale, confirming shareholders will receive $35 per share in cash under a merger deal that values the company at about $4.2bn. The price represents a 58%…

  • TotalEnergies hires Havila Shipping platform supplier

    TotalEnergies hires Havila Shipping platform supplier Norwegian OSV owner Havila Shipping has secured a contract for one of its platform supply vessels (PSVs) with French energy giant TotalEnergies. According to an Oslo Børs filing, TotalEnergies’s Norwegian arm hired the Havila Herøy platform supplier for a period of 136 days. Havila Shipping added in the statement…

  • Safe Bulkers banks $35m from capsize sale

    Safe Bulkers banks $35m from capsize sale New York-listed Greek owner Safe Bulkers has sold a 14-year-old capesize as it presses ahead with its fleet renewal programme. The company said it has agreed to dispose of the 2012 Chinese-built Michalis H for $35.2m. Delivery to the new owner is scheduled within the first quarter of…

  • Hapag-Lloyd closes in on Zim takeover

    Hapag-Lloyd closes in on Zim takeover Germany’s Hapag-Lloyd has confirmed it is in advanced negotiations to acquire all shares in Israeli rival Zim Integrated Shipping Services in a deal reported to be worth up to $3.7bn. In a brief statement, the Hamburg-based carrier said no binding agreement has yet been signed and that approvals from…

  • Maersk and Eurogate line up $1.2bn overhaul for Bremerhaven

    Maersk and Eurogate line up $1.2bn overhaul for Bremerhaven Maersk’s port operating arm, APM Terminals, and Germany’s Eurogate are in advanced talks over a long-term partnership that would see €1bn ($1.2bn) invested in upgrading the North Sea Terminal Bremerhaven (NTB). APM Terminals already works alongside Eurogate at the facility. The new investment plan aims to…

  • Halten Bulk doubles down on low-emission shortsea shipping

    Halten Bulk doubles down on low-emission shortsea shipping Norwegian shortsea specialist Halten Bulk has signed contracts for up to four 7,100 dwt self-discharging bulk carriers at Jiangsu Soho Marine Heavy Industry. The vessels will be built to the Norwegian Ship Design Company’s NSD 105CC design and fitted with rotor sails as part of a package…

  • Diana scores rate boost with NYK bulker deal

    Diana scores rate boost with NYK bulker deal Diana Shipping has secured improved employment for one of its post-panamax bulkers, fixing the 87,146 dwt Phaidra to Japan’s Nippon Yusen Kaisha (NYK). The New York-listed Greek owner said the 2013-built ship has been chartered at $14,500 per day, minus a 5% commission, for a period running…

  • Maran Dry returns to newbuilds with capesize order at Hengli

    Maran Dry returns to newbuilds with capesize order at Hengli Maran Dry Management has re-entered the newbuilding market, lining up a series of capesize bulk carriers at China’s Hengli Heavy Industry. The bulker arm of the Angelicoussis Shipping Group, led by Maria Angelicoussis, has contracted four firm capesize vessels at the Dalian yard, with options…

  • UK shipping warns ETS extension risks backfiring

    UK shipping warns ETS extension risks backfiring The UK shipping industry has stepped up its criticism of government plans to extend the UK Emissions Trading Scheme (UK ETS) to domestic maritime from July 1, 2026, warning that the policy could raise costs, hit island communities and undermine competitiveness without delivering meaningful emissions cuts. The Draft…

  • Scorpio Tankers lifts Dalian LR2 order to four ships

    Scorpio Tankers lifts Dalian LR2 order to four ships Scorpio Tankers has declared options for two more scrubber-fitted LR2 product tankers at China’s Dalian Shipbuilding Industry Co, doubling its order at the yard to four vessels. The New York-listed owner revealed the move alongside its fourth-quarter 2025 earnings, confirming that the two option ships are…

  • Euroseas extends feeder charter at higher rate

    Euroseas extends feeder charter at higher rate Nasdaq-listed Euroseas has secured a new time charter for one of its feeder containerships, locking in a higher rate in what it describes as a firm feeder market. The 2007-built 1,740 teu EM Spetses has been fixed for a minimum of 22 months and up to 24 months…

  • Capital orders 11 VLCCs in China

    Capital orders 11 VLCCs in China Greek shipowner Evangelos Marinakis is stepping up his tanker expansion, with Capital Maritime and Trading signing contracts for 11 VLCC newbuildings at China’s Hengli Heavy Industry. The order forms part of a wider package disclosed by Songfa Ceramics, the parent company of the Dalian-based shipbuilder, covering 15 VLCCs of…

  • Transocean adds $184m backlog through two semisub extensions

    Transocean adds $184m backlog through two semisub extensions Swiss-based offshore drilling giant Transocean has secured new deals for two of its harsh-environment semisubmersibles in Norway. The offshore driller said that the 2015-built Transocean Encourage was awarded a seven-well contract extension. The rig is currently working for an undisclosed operator in Norway. The contract is supposed…

  • Dark fleet expansion looms as EU seeks to cut maritime lifelines for Russian oil

    Dark fleet expansion looms as EU seeks to cut maritime lifelines for Russian oil Russia’s shadow tanker fleet faces greater pressure, although it is forecast to rise in numbers, if the European Commission’s proposed a 20th sanctions package gets voted through later this month.  Europe plans to scrap the crude oil price cap and replace…

  • Dynacom steps up suezmax expansion with nine Hengli newbuilds

    Dynacom steps up suezmax expansion with nine Hengli newbuilds George Procopiou is pressing ahead with his tanker expansion, placing an order for nine suezmax newbuildings at China’s Hengli Shipbuilding. According to a stock exchange filing by Songfa Ceramics, the parent company of Hengli Shipbuilding, Dynacom Tankers Management has secured nine of the ten 158,000 dwt…

  • TGS expands Gulf of Mexico footprint with new OBN campaign

    TGS expands Gulf of Mexico footprint with new OBN campaign Oslo-listed seismic data specialist TGS, in strategic collaboration with SLB, has announced the launch of Engagement 9, the latest phase of its ocean bottom node multi-client campaign in the Gulf of Mexico. Engagement 9 covers 161 OCS blocks in the Walker Ridge protraction area, one…

  • Cadeler arm wins Taiwan offshore wind O&M contract

    Cadeler arm wins Taiwan offshore wind O&M contract Cadeler’s service arm, Nexra, has signed a firm contract for an operations and maintenance campaign in Taiwan. The contract with an undisclosed client is expected to exceed €20m ($23.7m) and will be executed across two offshore wind farms in Taiwan. The campaign will commence in March 2026,…

  • Eidesvik secures fresh Equinor extension for long-serving PSV

    Eidesvik secures fresh Equinor extension for long-serving PSV Norway’s Eidesvik Offshore has been awarded a charter extension from compatriot energy giant Equinor for one of its large platform supply vessels (PSV). The extension was awarded to the 5,700 dwt PSV Viking Avant. The extension will begin in direct continuation of the current charter. Eidesvik said…

  • Transocean snaps up Valaris in $5.8bn stock deal

    Transocean snaps up Valaris in $5.8bn stock deal Transocean is set to absorb rival offshore driller Valaris in a move that reshapes the upper end of the global rig market and adds fresh momentum to an already busy consolidation cycle. The Switzerland-based offshore drilling heavyweight said it has signed a definitive agreement to acquire US-listed…

  • Exmar seals Cedar FLNG deal

    Exmar seals Cedar FLNG deal Belgian gas shipping and infrastructure group Exmar has been selected by Cedar LNG Partners to provide marine and operational services for the project’s floating liquefied natural gas unit. Under the agreement, the Antwerp-based owner will deliver marine operations and maintenance services for the FLNG vessel megúgu, which is currently under…

  • Minerva books suezmax brace at Hengli

    Minerva books suezmax brace at Hengli Greek owner Minerva Marine has returned to China’s Hengli Shipbuilding with an order for two suezmax crude tankers, continuing its steady fleet expansion across multiple segments. The deal covers two 158,000 dwt vessels, with a total contract value in the range of $160m to $200m, putting the unit price…

  • Tsakos lines up return to LNG newbuilds in South Korea

    Tsakos lines up return to LNG newbuilds in South Korea Greece’s Tsakos Energy Navigation (TEN) is moving closer to a return to the LNG carrier newbuilding market, lining up its first gas ship orders in roughly seven years. Shipbuilding sources say the Tsakos Group is finalising a deal with HD Hyundai Heavy Industries for two…

  • GSX Energy firms up LNG bunker pair in China

    GSX Energy firms up LNG bunker pair in China GSX Energy has firmed up an order for two additional LNG bunkering vessels at China’s Nantong CIMC Sinopacific Offshore & Engineering (CIMC SOE), lifting its series at the yard to four ships. GSX Energy was formed in October 2025 as a joint venture between Sabrina Chao-…

  • Venergy steps up LR2 newbuild push

    Venergy steps up LR2 newbuild push Fast-growing Greek owner Venergy Maritime is pushing further up the product tanker ladder, firming up a new order for LR2 newbuildings in China as it continues to build scale across the sector. The Vyron Vasileiadis-led company has signed for two more LR2 product tankers at New Times Shipbuilding, with…

  • MSC tops up Jinglu orderbook with eight more 11,500 teu ships

    MSC tops up Jinglu orderbook with eight more 11,500 teu ships Mediterranean Shipping Company (MSC) has moved to deepen its bet on LNG-fuelled tonnage, exercising options for eight more 11,500 teu dual-fuel containerships at China’s Penglai Jinglu Shipyard. The latest deal lifts the series to 16 sister vessels, following an initial order placed in 2024.…

  • Rio Tinto and Glencore walk away from revived mega-merger talks

    Rio Tinto and Glencore walk away from revived mega-merger talks Rio Tinto and Glencore have called time on renewed merger talks, abandoning plans for a deal that would have reshaped the global mining sector. The companies confirmed on Thursday that discussions had ended without agreement, scrapping a proposed tie-up that could have created the world’s…

  • Splash Wrap: Ports in a storm

    Splash Wrap: Ports in a storm The deepening dispute between Panama and China over two key ports at the Panama Canal was a constant source of headlines following a landmark Supreme Court ruling that invalidated CK Hutchison’s long-held concession contracts. A trade pact between the US and India that cuts American tariffs and ties New…

  • Explosion knocks out MSC boxship near St Petersburg

    Explosion knocks out MSC boxship near St Petersburg An explosion and subsequent fire have hit the MSC-operated container ship MSC Giada III while the vessel was approaching St Petersburg in Russia’s Neva Bay, according to vessel tracking data and regional response activity. The 2,732 teu, Liberia-flagged ship was en route from Belgium to St Petersburg…

  • NYK and Ocean Yield clinch LNG carrier deal with Cheniere

    NYK and Ocean Yield clinch LNG carrier deal with Cheniere Japan’s Nippon Yusen Kaisha (NYK), together with Norwegian shipleasing player Ocean Yield, has locked in long-term charter contracts for a series of new liquefied natural gas carriers with US LNG heavyweight Cheniere. The fixture confirms market talk that emerged in December when NYK and Ocean…

  • Maersk posts ocean loss, 1,000 job cuts as container boom unwinds

    Maersk posts ocean loss, 1,000 job cuts as container boom unwinds The dark clouds swirling around the container shipping industry intensified today with Maersk following Japan’s Ocean Network Express, in announcing its ocean division had slipped into the red for the final quarter of 2025. The Danish shipping giant also revealed today it will lay…

  • Georgiopoulos and Vrondissis diversify into dry bulk with Norvic purchase

    Georgiopoulos and Vrondissis diversify into dry bulk with Norvic purchase Peter Georgiopoulos and Leo Vrondissis-led United Overseas Group is diversifying from its tanker base, announcing it is buying Norvic Shipping’s commercial platform and nine Japanese-built bulkers. The acquisition via the group’s trading arm transfers the entire issued share capital of Norvic Shipping Europe, Norvic Shipping…

  • Esvagt–KMC venture lines up CTV build backed by Vestas deal in South Korea

    Esvagt–KMC venture lines up CTV build backed by Vestas deal in South Korea KESTO, the offshore wind joint venture between Denmark’s Esvagt and South Korean shipping company KMC Line, has secured its first contracts, signing a long-term vessel deal with turbine maker Vestas for the Shinan-Ui offshore wind farm. Under the agreement, KESTO will provide…

  • Pistiolis in for 10 MR tanker newbuilds in China

    Pistiolis in for 10 MR tanker newbuilds in China Greek shipowner Evangelos Pistiolis has re-entered the newbuilding market, placing an order for 10 MR product tankers in China in a deal approaching $500m. Pistiolis’ privately held Central Group has signed up for the 50,000 dwt vessels at Guangzhou Shipyard International (GSI), marking the group’s first…

  • Floatel firms up vessel deal in Brazil

    Floatel firms up vessel deal in Brazil Oslo’s Floatel has firmed up Floatel Victory for another Brazil maintenance and safety unit (MSU) run with Brava Energia, extending the flotel’s South American stay. Floatel International said it has converted an October letter of intent into a six-month firm contract for the unit. The 2013-built semisub starts…

  • Diana locks in higher rates in Cobelfret charter extension

    Diana locks in higher rates in Cobelfret charter extension New York-listed Greek dry bulk owner Diana Shipping has secured a direct continuation of the charter for its post-panamax, keeping the vessel employed with operator Cobelfret. Under the new deal, the 98,697 dwt Amphitrite will earn a gross rate of $13,000 per day for the first…

  • Maersk and Hapag-Lloyd to route one Gemini service through Red Sea

    Maersk and Hapag-Lloyd to route one Gemini service through Red Sea Maersk and Hapag-Lloyd are set to resume Red Sea transits on one of their shared Gemini Cooperation services, marking a cautious step back into the corridor after months of widespread diversions around the Cape of Good Hope. The Danish and German carriers said the…

  • Posidonia turns into a month-long shipping marathon

    Posidonia turns into a month-long shipping marathon Posidonia has a new record to go alongside its position as the world’s most famous shipping show. The 2026 edition of the Greek shipping showcase is set to run across nearly a month of activity, as organisers stretch the event into a three-week programme of conferences, meetings, networking,…

  • Westwood rolls out offshore vessel intelligence platform

    Westwood rolls out offshore vessel intelligence platform London-based energy market research firm Westwood has launched a new offshore vessel intelligence platform aimed at improving visibility across the global offshore support, service and offshore wind fleets. The platform named MarineLogix covers more than 10,000 vessels operated by around 2,500 owners across over 30 vessel classes. MarineLogix…

  • Signal Ocean snaps up AXSMarine

    Signal Ocean snaps up AXSMarine Signal Ocean has made a move to tighten its grip on shipping data and software, announcing the acquisition of French-based SaaS specialist AXSMarine. The deal brings together two well-known names in freight, market and commodities tracking, and underlines Signal Ocean’s plan to speed up product development and deepen its role…

  • MSC returns to mid-sized newbuilds

    MSC returns to mid-sized newbuilds Mediterranean Shipping Co (MSC) is moving back into the mid-sized containership segment with a fresh newbuilding order at China’s Yangzhou Guoyu Shipyard. Market sources say the world’s largest containerline has signed firm contracts for at least two conventionally fuelled 5,000 teu vessels, with some brokers suggesting the deal could already…

  • Apontes propel Switzerland higher up the shipowning ranks

    Apontes propel Switzerland higher up the shipowning ranks Veson Nautical has published its annual rankings of the top 10 shipowning nations with landlocked Switzerland noticeably climbing the ranks.  Switzerland entered the top 10 list last year, in ninth spot, largely down to the Aponte family’s Mediterranean Shipping Co (MSC), the world’s largest containerline and a…

  • Stena Bulk takes control of GSB tanker venture

    Stena Bulk takes control of GSB tanker venture Swedish tanker owner Stena Bulk has moved to strengthen its position in the chemical and specialised tanker market after lifting its stake in Golden Stena Baycrest Tankers (GSB) to become the majority shareholder. The additional shares were acquired from Bay Crest, with the joint venture remaining jointly…

  • Singapore’s Wealth Holdings books up to eight MPPs with Norden charter cover

    Singapore’s Wealth Holdings books up to eight MPPs with Norden charter cover Singapore-based Wealth Holdings is stepping into the multipurpose vessel space with a sizeable, charter-backed newbuilding programme, lining up to eight 17,400-dwt MPPs with Danish operator DS Norden providing time-charter cover. The deal covers four firm vessels with two plus two options, with Wealth…

  • Meriaura books new deck carrier in China

    Meriaura books new deck carrier in China Finnish shortsea specialist Meriaura has moved ahead with its fleet renewal, signing a shipbuilding contract for a new open deck carrier at Jiangsu Zhenjiang Shipyard in China. The 6,800 dwt vessel is due for delivery in early 2028 and will measure 120 m in length and be built…

  • Golden Energy cashes in with second PSV sale

    Golden Energy cashes in with second PSV sale Golden Energy Offshore Services has pushed through another platform supply vessel sale, continuing a clear effort to strengthen its balance sheet. The Norwegian owner said its subsidiary has struck a deal to sell the PSV Energy Partner for $27.25m, with completion expected in mid-February. The transaction is…

  • Atlantica Shipping re-enters dry bulk

    Atlantica Shipping re-enters dry bulk Atlantica Shipping has marked its return to the dry bulk sector with the delivery of a kamsarmax bulker, ending a brief period as an offshore-only outfit. The Oslo-based company has taken delivery of the 2011-built kamsarmax Atlantica Star, which recently joined the fleet. The vessel will be placed under technical…

  • TMS Cardiff Gas expands LNG orderbook with Chinese deal

    TMS Cardiff Gas expands LNG orderbook with Chinese deal Greek shipowner TMS Cardiff Gas has added fresh LNG carrier tonnage to its orderbook, with an agreement for up to six newbuildings at Hudong-Zhonghua Shipbuilding in China. The George Economou-led company is understood to have signed up for four firm 174,000 cbm LNG carriers, with options…

  • JHI Steamship widens tanker bet with HD Hyundai suezmaxes

    JHI Steamship widens tanker bet with HD Hyundai suezmaxes Greek shipowner JHI Steamship has stepped up its tanker expansion with an order for two suezmax newbuildings at HD Hyundai Samho Heavy Industries in South Korea. The 157,000 dwt crude carriers are scheduled for delivery between the fourth quarter of 2028 and the second quarter of…

  • Frontline fixes seven VLCCs at near-$77,000 a day

    Frontline fixes seven VLCCs at near-$77,000 a day Frontline has locked in one-year time charters for seven of its VLCCs at rates not seen in decades, underlining just how hot the crude tanker market has become. The New York- and Oslo-listed owner said the charters will run for 12 months, starting between late January and…

  • d’Amico doubles down on MR orders

    d’Amico doubles down on MR orders Italian product tanker owner d’Amico International Shipping has added two MR2 product tankers to its orderbook, pressing ahead with a fleet renewal drive built around fuel efficiency and future fuels. The Milan-listed owner said its operating arm, d’Amico Tankers, has signed a shipbuilding contract with China’s Jiangsu New Yangzi…

  • French navy boards false-flagged Russian aframax

    French navy boards false-flagged Russian aframax French naval forces boarded and diverted the aframax tanker Grinch in the western Mediterranean yesterday after president Emmanuel Macron ordered an interception of what he described as a “false‑flagged” sanctioned vessel carrying Russian crude. In a post on X, Macron stated the operation was conducted on the high seas…

  • Alpha Gas inks $500m LNG carrier order at Hanwha Ocean

    Alpha Gas inks $500m LNG carrier order at Hanwha Ocean Greek gas shipowner Alpha Gas has resurfaced in the newbuilding market, placing an order for two LNG carriers at South Korea’s Hanwha Ocean.T The shipbuilder said the contract, secured for its Okpo yard in Geoje, is valued at KRW738.3bn ($503m). Hanwha Ocean did not disclose…

  • ZeroNorth hands CEO role to Andersen as founder Meyer steps aside

    ZeroNorth hands CEO role to Andersen as founder Meyer steps aside Maritime digital optimisation firm ZeroNorth is changing leadership as it moves into its next phase of growth, appointing Soren Andersen as chief executive. Andersen will take over from founder CEO Soren Meyer, who is stepping down after leading the Danish company from start-up to…

  • Danaos steps into LNG with Alaska project tie-up

    Danaos steps into LNG with Alaska project tie-up Greek owner Danaos is widening its reach beyond boxships and bulkers after striking a strategic partnership with US energy infrastructure player Glenfarne Group on the Alaska LNG project. The Nasdaq-listed company said it will invest $50m in development capital through Glenfarne Alaska Partners, while also lining up…

  • Okeanis Eco Tankers lines up fresh suezmax resales

    Okeanis Eco Tankers lines up fresh suezmax resales Greek tanker owner Okeanis Eco Tankers is looking to further expand its suezmax fleet, unveiling plans to acquire two newbuilding resales in South Korea alongside a proposed equity offering. The New York- and Oslo-listed company, controlled by the Alafouzos family, said it has signed a deal to…

  • Western Bulk launches lumber and project cargo unit in Bergen

    Western Bulk launches lumber and project cargo unit in Bergen Norwegian dry bulk operator Western Bulk has created a new lumber and projects team based in Bergen. The company said that it marked an important step in the expansion of its commercial platform and the focus on developing strong niche capabilities alongside its core bulk…

  • James Fisher buys stake in US autonomous vessel specialist

    James Fisher buys stake in US autonomous vessel specialist UK-based marine services group James Fisher and Sons has taken a strategic minority stake in US autonomous vessel specialist Ocean Aero, joining the company’s Series D funding round. The investment gives James Fisher increased exposure to autonomous marine systems as it looks to expand its technology…

  • AD Ports buys into Spanish shipbuilding with Astilleros Balenciaga takeover

    AD Ports buys into Spanish shipbuilding with Astilleros Balenciaga takeover AD Ports Group has moved deeper into European shipbuilding after snapping up Spain’s Astilleros Balenciaga shipyard, strengthening its push into offshore wind support vessels. The Abu Dhabi-listed group said its drydocks arm Safeen Drydocks, part of Noatum Maritime, has acquired 100% of the Basque-based yard…

  • Performance locks in long-term aframax cover

    Performance locks in long-term aframax cover Performance Shipping has secured long-term cover for one of its aframax tankers, fixing the P Monterey on a three-year time charter. The Nasdaq-listed Greek owner said it has entered into the contract with PBF Holding, a subsidiary of US refiner PBF Energy. The deal will see the 2011-built 105,525…