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DFDS and Ekol Trade Barbs as Acquisition Unravels
DFDS’ plans to acquire Turkish freight company Ekol Logistics have fallen apart in a public and acrimonious feud, with both sides claiming that they initiated a withdrawal. In April, Danish freight ferry giant DFDS signed an agreement to buy Ekol for $545 million, adding more transport capacity to its cargo network in the…
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Baltic Exchange rolls out platform for real-time freight intelligence
The Baltic Exchange has together with digital platform developer Zuma Labs launched a new product that delivers real-time Baltic Exchange indices and FFA (freight forward agreement) prices to shipping professionals. The new platform called Baltic Exchange View has been designed specifically to meet the needs of brokers, charterers, and shipowners for instant access to critical…
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Korea Line offloads supramax quartet
SM Group’s Korea Line Corp has continued to offload tonnage, taking the number of ships exiting the fleet this year to ten. The Seoul-based diversified owner has been reported of selling a quartet of supramax bulkers en bloc, following a $53m deal to offload two capesizes to China’s Jiangsu Steamship. S&P sources suggest a deal…
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Pelagic Partners charters out tanker to International Seaways
Cyprus-based owner and shipping fund manager Pelagic Partners has sealed a charter deal with US tanker player International Seaways for one of its LR1 vessels. The 2009-built Pelagic Turbot has been fixed long-term to the New York-listed owner and operator following its recent docking. The 73,400 dwt unit is the second ship International Seaways has…
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TechnipFMC and Prysmian link up on floating offshore wind
New York-listed subsea player TechnipFMC and Italian cabling giant Prysmian have joined forces to work together on global floating offshore wind projects. A collaboration agreement will see the two companies aim to pioneer a subsea water column solution “from seabed to ocean surface”, joining TechnipFMC’s design and integration capacities with Prysmian’s submarine power cable systems.…
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Egypt reveals $6bn revenue hit as Houthis vow to up campaign against shipping
The Houthis vowed Sunday to keep up their attacks on merchant shipping likely to the consternation of politicians further north along the Red Sea in Egypt. Egypt’s foreign minister Badr Abdel Aati revealed in discussions with International Maritime Organization secretary-general Arsenio Dominguez on Friday that the Egyptian economy has taken a $6bn hit from the…
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SAFEEN Subsea Launches Eco-friendly Unmanned Survey Vessel
Workboat365
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Integrated Wind Solutions christens third walk-to-work vessel in series
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Hull fatigue, navigation error blamed for loss of Royal Malaysian Navy patrol boat
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Fire kills two on cargo ship off Istanbul