The German government plans to take a temporary majority stake in Meyer Werft, one of the world's top cruise ship builders, as part of measures to support the company, sources familiar with the matter told Reuters on Thursday.German Chancellor Olaf Scholz is said to visit shipbuilder Meyer Werft today, raising union hopes for government support for the company which is battling to fill a 2.
A surge of attacks on ships traveling the waters of the Red Sea is forcing shippers to reroute their vessels, sending them on longer journeys that drive up their carbon dioxide emissions.For companies struggling to account for – and lower – the climate-warming emissions associated with their businesses, these rerouted journeys add to the challenge.
Diplomatic efforts are underway to try to find a "climbdown" for Yemen's Houthis, the special U.S. envoy to Yemen said in a video recording released on Tuesday, in an apparent reference to finding a face-saving solution to ending their attacks on ships in the Red Sea.U.S. Special Envoy Tim Lenderking recorded his comments on Friday for a think-tank conference before flying to Oman for talks on
Automakers Tesla and Geely-owned Volvo Car said they were suspending some production in Europe due to a shortage of components, the first clear sign that attacks on shipping in the Red Sea are hitting manufacturers in the region.The United States and Britain launched a series of strikes on Yemen on Thursday
Container shipping rates for key global routes have soared this week, with U.S. and UK air strikes on Yemen stirring concerns of a prolonged disruption to global trade in Red Sea, one of the world's busiest routes, industry officials said on Friday.U.S. and British warplanes, ships and submarines launched dozens of strikes across Yemen overnight in retaliation against Iran-backed Houthi forces
Danish shipping giant Maersk has decided to divert all its vessels due to transit the Red Sea and Gulf of Aden south around the Cape of Good Hope in Africa for the foreseeable future.In a statement issued on January 5, Maersk said the situation in the Red Sea remains highly volatile
Global Denmark's Maersk and German rival Hapag-Lloyd said on Tuesday their container ships would continue to avoid the Red Sea route that gives access to the Suez Canal following a weekend attack on one of Maersk's vessels.Both shipping giants have been re-routing some sailings via Africa's southern Cape of Good Hope as Yemen-based Houthi militants attack cargo vessels in the Red Sea.
Denmark's Maersk said on Wednesday it has scheduled several dozen container vessels to travel via the Suez Canal and the Red Sea in the next several weeks, in a further sign that global shipping firms are returning to the route.The schedule remains subject to change based on specific contingency plans that may be formed over the coming days, the company said.
Danish energy firm Orsted's shock decision to cancel two offshore wind farms off New Jersey this week was based in large part on big delays securing the ship it needed to build the project, company officials said.The world's biggest offshore wind farm company on Tuesday said it would cease all development on the Ocean Wind projects even as it moves forward with developments off neighboring New
U.S. Department of Energy reviews for liquefied natural gas (LNG) export permits have lengthened under President Joe Biden's administration to 11 months or more, from seven weeks, according to government data.The delay could mean nearly completed LNG projects may not being able to supply big European buyers because of a lack of the permit. Increasing LNG exports is opposed by some U.S.
The Swedish investigation into the sabotage last year of the Nord Stream pipelines is at a sensitive stage and the prosecutor hopes to decide whether to bring any charges before the end of this year, he told Reuters on Wednesday.In September 2022, several unexplained underwater explosions ruptured the Nord Stream 1 and newly-built Nord Stream 2 pipelines that link Russia and Germany across the
Maersk has teamed up with its majority owner to form a new company to produce "green methanol", the shipping company said on Thursday, as it held a naming ceremony for the world's first container vessel powered by the low-carbon fuel.Green methanol, produced either from biomass or captured carbon and hydrogen from renewable power