krogragg

Category: Switzerland

  • 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…

  • 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…

  • 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…

  • 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…

  • 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…

  • Geneva Dry continues to add leading commodity and shipping speakers

    Geneva Dry continues to add leading commodity and shipping speakers The big names continue to sign up to speak at the third edition of Geneva Dry, scheduled for April 28 and 29, while new sister show, Splash Singapore, has also attracted some famous shipping executives. Geneva Dry, the world’s premier commodities shipping summit, is set…

  • Rio Tinto and Glencore reopen talks on mega-merger

    Rio Tinto and Glencore reopen talks on mega-merger Mining heavyweights Rio Tinto and Glencore have confirmed they are back in early-stage talks over a deal that could see Rio Tinto acquire “some or all” of Glencore, a move that would create the world’s largest miner with a combined market value close to $207bn. The companies…

  • Transocean scores $168m worth of deals from BP and Equinor

    Transocean scores $168m worth of deals from BP and Equinor Swiss-based offshore drilling giant Transocean has won a new contract and an extension for two of its drilling rigs. In Brazil, the 2011-built drillship Deepwater Mykonos was awarded a contract with giant BP. The rig is currently working for Petrobras. The firm part of the…

  • Gunvor hits reset button with leadership buyout and governance overhaul

    Gunvor hits reset button with leadership buyout and governance overhaul Gunvor has entered a new chapter after its management team agreed to buy out the company’s existing ownership, ending Torbjörn Törnqvist’s long run as majority shareholder. The Swiss-based commodity trading giant will now be fully owned by a group of senior employees, with no outside…

  • Allseas lands Enbridge contract in US Gulf

    Allseas lands Enbridge contract in US Gulf Allseas has secured a contract from Enbridge Offshore Facilities to install more than 500 km of deepwater export pipelines in the US Gulf. The Swiss contractor will build and install four export lines linking upcoming deepwater fields in the Keathley Canyon area to existing hubs in Green Canyon…

  • Transocean secures trio of extensions worth $89m

    Transocean secures trio of extensions worth $89m Transocean has secured new work for one ultra-deepwater drillship and two harsh-environment semisubmersibles, adding about $89m in firm backlog. In Brazil, Petrobras exercised a 90-day option for the Deepwater Mykonos, keeping the drillship on continuous work. The extension is expected to contribute roughly $33m in backlog. In Norway,…

  • Nova Marine Carriers breaks into New Zealand market with MPP newbuild

    Nova Marine Carriers breaks into New Zealand market with MPP newbuild Lugano-based Nova Marine Carriers has teamed up with New Zealand’s McCallum Bros in a 50/50 joint venture that will replace the ageing multipurpose vessel (MPP) on the supply run to the Chatham Islands. The MBL/Nova Marine partnership won the government tender with a proposal…

  • Allseas and DOF awarded contracts for $125m Singapore crude transfer revamp

    Allseas and DOF awarded contracts for $125m Singapore crude transfer revamp Swiss contractor Allseas and Norway’s DOF have clinched contracts from Aster Chemicals & Energy to renew the single buoy mooring (SBM) and subsea pipeline system serving Bukom Island, Singapore. The scope includes engineering, installation and commissioning of new infrastructure linking the offshore facility —…

  • Advantage Tankers firms fresh VLCC and suezmax orders in South Korea

    Advantage Tankers firms fresh VLCC and suezmax orders in South Korea Geneva-based Advantage Tankers has stepped up its move into the large tanker segment with fresh orders in South Korea, adding one very large crude carrier (VLCC) and two suezmaxes to its books. Industry sources said the Tugrul Tokgoz-led outfit has exercised an option for…

  • ABB and Wallenius Marine launch venture for digital fleet optimisation

    ABB and Wallenius Marine launch venture for digital fleet optimisation Swiss technology group ABB and Sweden-based ship designer and manager Wallenius Marine have formally established a new joint venture in Stockholm to expand their OVERSEA collaboration, a digital platform aimed at improving vessel efficiency and sustainability. The two companies first introduced OVERSEA in September 2022…

  • Shipping and mining powerhouses locked in for iron ore finale at Geneva Dry 2026

    Shipping and mining powerhouses locked in for iron ore finale at Geneva Dry 2026 Panels are beginning to coalesce for next April’s Geneva Dry, the world’s premier commodities shipping conference. As in past editions, the two-day event will close with a very high level session on iron ore, the largest shipped dry bulk commodity, with…

  • Shipping’s biggest names set to return to Geneva Dry

    Shipping’s biggest names set to return to Geneva Dry Sign-ups to next year’s Geneva Dry – the world’s premier commodities shipping summit – are pouring in with organisers finalising the session line-ups for dry bulk’s biggest annual gathering. With hundreds of delegates already confirmed for the April 28 – 29 event, the 2026 edition is…

  • Discount hotel rooms go on sale for next year’s Geneva Dry

    Discount hotel rooms go on sale for next year’s Geneva Dry Special priced hotel rooms are now ready for booking for next year’s Geneva Dry, the world’s premier annual commodities shipping summit, scheduled for April 28 and 29. Organisers have secured room discounts at the Hotel President Wilson, the five-star establishment hosting the event. Facing…

  • Boskalis and Allseas to construct $1.4bn gas pipeline off Taiwan

    Boskalis and Allseas to construct $1.4bn gas pipeline off Taiwan A consortium of Boskalis and Allseas has been awarded a contract by CPC Corporation Taiwan for the second offshore gas pipeline from Yongan to Tongxiao. The total contract value is approximately €1.2bn ($1.39). This project is intended to improve the gas supply capacity in northern…

  • MSC plans historic renewal of ageing feeder fleet

    MSC plans historic renewal of ageing feeder fleet The world’s largest container carrier is planning a historic renewal of its feeder fleet.  Broker Braemar is reporting a “megaproject” is in the works for Mediterranean Shipping Co (MSC) with the Soren Toft-led company looking to order up to 120 vessels ranging in size between 1,100 and…

  • MSC’s boxship binge rolls on with 10 more giants ordered across China

    MSC’s boxship binge rolls on with 10 more giants ordered across China Mediterranean Shipping Company (MSC) has once again underlined its seemingly insatiable appetite for new tonnage, declaring and placing orders for a further 10 ultra-large container vessels, its orderbook now larger than the extant fleet of Ocean Network Express (ONE), the world’s sixth largest…

  • Advantage Tankers bolsters VLCC orderbook

    Advantage Tankers bolsters VLCC orderbook Geneva-based Advantage Tankers has returned to South Korea’s Hanwha Ocean with a fresh order for another VLCC newbuilding as part of a growing strategic push into the larger tanker segment. Industry sources report that the Tugrul Tokgoz-led company has declared an option for a third 320,000 dwt unit at the…

  • DP World to take helm of NovaAlgoma Cement Carriers

    DP World to take helm of NovaAlgoma Cement Carriers P&O Maritime Logistics, a unit of ports and logistics heavyweight DP World, has acquired a controlling stake in NovaAlgoma Cement Carriers (NACC), the leading operator of pneumatic cement carriers, in a move that positions the Dubai-based group deeper into infrastructure-driven dry bulk trades. The transaction, with…

  • MSC ramps up megamax expansion with $1.2bn shipbuilding deal in China

    MSC ramps up megamax expansion with $1.2bn shipbuilding deal in China Gianluigi Aponte’s Mediterranean Shipping Co (MSC) is pressing ahead with megamax containership fleet expansion through a new shipbuilding deal in China. The Swiss-based liner giant has ordered up to six 22,000 teu newbuilds from China Merchants Heavy Industries’ Haimen shipyard. Shipbuilding sources estimate each…

  • MSC invests in Ukrainian inland logistics

    MSC invests in Ukrainian inland logistics Swiss-based Medlog, a growing inland cargo business of the world’s largest liner, Mediterranean Shipping Co (MSC), has made its entry into Ukrainian logistics. Local media report Medlog has bought 50% of the Ukrainian intermodal logistics operator N’UNIT (New Ukrainian Network of Intermodal Terminals) and a 25% stake in the…

  • Allseas taps Wuchang Shipbuilding for offshore vessel duo

    Allseas taps Wuchang Shipbuilding for offshore vessel duo Swiss-based marine construction specialist Allseas has ordered two offshore construction vessels from Wuchang Shipbuilding Industry Group in China. The vessels are based on the SALT 308 OCV design, they feature advanced equipment and systems to deliver enhanced performance, flexibility, and functionality. Each vessel will measure 100 metres…

  • Geoquip secures German North Sea wind farm contract

    Geoquip secures German North Sea wind farm contract Swiss-based offshore geotechnical data acquisition specialist Geoquip Marine has been awarded a survey contract by clean energy asset manager Luxcara for the Waterekke offshore wind farm in the German North Sea. The Njord Partners’ portfolio company, led by former PGS boss Rune Pedersen, said the work scope…

  • One month countdown to Geneva Dry

    One month countdown to Geneva Dry There’s just one month to go until this year’s largest gathering of charterers and shipowners takes place in the Swiss city of Geneva. Geneva Dry, the world’s premier commodities shipping conference, is scheduled for April 28 and 29 at the Hotel President Wilson with close to 300 companies already…

  • MSC books up to eight megamaxes at Changhong International

    MSC books up to eight megamaxes at Changhong International Gianluigi Aponte’s Mediterranean Shipping Co (MSC) has returned to Zhoushan Changhong International Shipyard in China for a new series of LNG dual-fuel megamax containerships. The Swiss-based liner giant has signed up for four firm 21,700 teu newbuilds with options for up to four additional vessels. Deliveries…

  • Leadership change at Transocean

    Leadership change at Transocean Transocean has announced a change at the top for the Swiss-based offshore drilling giant as part of its multi-year succession plan. The New York-listed company’s long-serving chief executive Jeremy Thigpen, is stepping down from his role and will be succeeded by Transocean’s president and chief operating officer, Keelan Adamson. The transition…

  • Geneva Dry Dialogues: Manta Marine Technologies

    Geneva Dry Dialogues: Manta Marine Technologies Ina Reksten, who runs Norwegian vessel optimisation specialist Manta Marine Technologies, acknowledges many of her clients are struggling to meaningfully translate all the data heading their way. “It sounds straight forward, but a good outcome requires not only strong programming skills and setting data parameters, but also understanding of…

  • In tech we trust?

    In tech we trust? The relationship between shipowners and technology providers must be fixed to save shipping’s decarbonisation ambitions, writes Benny Hilström, vice president of business development at WinGD. Shipowners and operators need technology providers that keep their promises in order to avoid frustration, disruption and delay. That applies in day-to-day operations and is even…

  • Landlocked Switzerland becomes a top 10 shipowning nation thanks to Aponte’s MSC

    Landlocked Switzerland becomes a top 10 shipowning nation thanks to Aponte’s MSC One family has propelled a landlocked European nation into the top shipowning countries in the world. Gianluigi Aponte’s Geneva-based Mediterranean Shipping Co (MSC) has been on a historic fleet expansion in the 2020s, hoovering up more than 400 secondhand boxships, and ordering more…

  • Geneva Dry Dialogues: Heidelberg Materials Trading

    Geneva Dry Dialogues: Heidelberg Materials Trading The dry bulk fleet is rapidly ageing and new orders will be vital next year, even if yards are overflowing with contracts for other types of ships. That’s the view of Willem Vermaat, shipping director at cement giant Heidelberg Materials Trading, who will be joining the minor bulks session…

  • Rivals scramble to keep pace with MSC

    Rivals scramble to keep pace with MSC The unmatched scale and growth ambitions of Mediterranean Shipping Co (MSC) is forcing competitors to scramble for tonnage.  Alpahliner is reporting that MSC has now surpassed 400 secondhand ship purchases since it embarked on a historical buying spree amid the covid pandemic in August 2020. Alphaliner tallies 402…

  • Geneva Dry Dialogues: Nova Marine Carriers

    Geneva Dry Dialogues: Nova Marine Carriers Minor bulks are the most exciting segment in dry bulk, according to Vincenzo Romeo, CEO of Nova Marine Carriers, something that is just as well as the Italian is set to take the stage next April in Geneva Dry’s minor bulks session. “There are more origins and destinations in…

  • Geneva Dry Dialogues: Precious Shipping

    Geneva Dry Dialogues: Precious Shipping Making predictions in shipping is akin to chewing glass, Khalid Hashim, managing director of Thailand’s largest dry bulk owner, Precious Shipping. “Only the insane would do that,” he says, stressing: “Predictions in shipping are always wrong.” Nevertheless, when pressed to give his take on where the dry bulk markets will…