Korea's Hanwha aims to buy up to 9.9% of Australian shipbuilder Austal in an after-market offer following its failed A$1.02 billion ($646.17 million) takeover bid last year, a term sheet showed on Monday.Hanwha has offered A$4.45 each for 41.2 million Austal shares, showed the term sheet reviewed by Reuters.
U.S. President Donald Trump has hailed a deal led by U.S. firm BlackRock to buy most of the $22.8 billion ports business of Hong Kong conglomerate CK Hutchison which includes assets along the Panama Canal.The deal will give the U.S. consortium control of key Panama Canal ports amid White House calls to remove them from what it says is Chinese ownership.
HMNZS Manawanui grounded and sunk off the coast of Samoa as a result of human error, an interim Court of Inquiry report shows.The Royal New Zealand Navy ship grounded on a reef on the southern side of Samoa, on October 5, 2024, while conducting survey operations.Chief of Navy Rear Admiral Garin Golding stood up a Court of Inquiry following the incident.
International shipping company Hapag-Lloyd raised its full-year earnings guidance on Thursday citing stronger-than-expected demand and higher freight rates.Despite increased expenses from the diversion of vessels around the Cape of Good Hope, Hapag-Lloyd says it now expects earnings before interest, taxes, depreciation, and amortisation (EBITDA) for 2024 of between $4.
Danish shipping group A.P. Moller-Maersk said on Monday it had raised its full-year forecasts on the back of strong third quarter results, robust demand and the continuing disruption to shipping in the Red Sea.Maersk said it had revised its outlook for global container market volume growth in 2024 to around 6% from a range of between 4% to 6% seen previously.
A Royal New Zealand Navy vessel ran aground and sank off Samoa but all 75 crew and passengers on board were safe, the New Zealand Defence Force said in a statement on Sunday.Manawanui, the navy's specialist dive and hydrographic vessel, ran aground near the southern coast of Upolu on Saturday night as it was conducting a reef survey, Commodore Shane Arndell
Harland & Wolff said on Monday it plans to appoint administrators in the coming days as the company known for building the Titanic struggles with a debt crisis.The Belfast-based shipbuilder, which survived closure once in 2019, said it would cut jobs in its non-core and certain central support areas, without specifying the number of roles affected.
The German government is working on a deal to secure the future of Meyer Werft, a 229-year-old shipyard and one of the world's largest cruise ship builders, Chancellor Olaf Scholz assured workers during a visit to the company on Thursday."We all want to secure the continued existence of the shipyard - and with it everything that depends on it," Scholz said at a meeting of the works council
Woodside has achieved first oil from the Sangomar field offshore Senegal, marking the safe delivery of the country’s first offshore oil project.The Sangomar Field Development Phase 1 is a deepwater project including a stand-alone FPSO facility with a nameplate capacity of 100,000 barrels/day, and subsea infrastructure that is designed to allow subsequent development phases.
With the U.S. Navy and U.S. Coast Guard FY 2025 budget requests offering uninspiring news for traditional shipbuilders, industry observers might be forgiven for checking out and dismissing 2024 as just another dull year in the frustrating business of government shipbuilding.But with an election season underway and an increasingly disorderly sea
QatarEnergy has signed an agreement with China State Shipbuilding Corporation (CSSC) for the construction of 18 ultra-modern QC-Max size LNG vessels, marking a significant addition to its LNG fleet expansion program.The new vessels, with a capacity of 271,000 cubic meters each, will be constructed at China’s Hudong-Zhonghua Shipyard, a CSSC wholly-owned subsidiary
MHWirth, a subsidiary of Norwegian oil services investment firm Akastor, has received an arbitration award issued by a tribunal in a dispute with Seatrium’s subsidiary Jurong Shipyard over the termination of four drilling rig unit contracts.As part of the ruling, MHW has been awarded an amount of $101 million as payment of termination fees.