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.
Unregulated tankers sidestepping Western sanctions are posing a bigger risk to the Mediterranean region and Greece is undertaking more protective measures to safeguard its coast, the country's shipping minister told Reuters on Tuesday.Up to 850 oil tankers are estimated to form the so-called shadow fleet transporting oil from countries such as Iran and Venezuela as well as Russia
Energy storage group VTTI will get a 70% stake in Italy's biggest liquefied natural gas (LNG) terminal, with grid operator Snam owning the rest, the Milan-listed group said on Wednesday, announcing a deal to be finalised by year-end.Snam, which is controlled by the Italian government
France's CMA CGM has completed a $5 billion takeover of Bollore Logistics, its biggest-ever acquisition, and said it had funds for more deals as it seeks to counter volatility in container shipping.The acquisition of the logistics division of French conglomerate Bollore, announced last year, closed on Thursday at a final price of 4.85 billion euros ($5.25 billion) after debt and cash adjustments.
A climate change protest off Australia's east coast disrupted operations at the country's biggest coal export port on Saturday, the port operator said.Climate activist group Rising Tide, which claimed responsibility for the action, said around 1,500 people were at the protest, 300 of them in the shipping channel near the Port of Newcastle, as part of a 30-hour blockade set to run until 4 p.m.
Two Chinese icebreaker research vessels and a cargo ship set sail on Wednesday for the Antarctic with more than 460 personnel on board to help complete construction of China's fifth station on the world's southernmost continent.China's biggest flotilla of research vessels deployed to the Antarctic will focus on building the station on the rocky, windswept Inexpressible Island near the Ross Sea
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.
Deutsche Bank has set emissions reduction targets for loans to clients in the coal mining, cement and shipping sectors and now has a net-zero plan for 55% of its financed emissions, its chief sustainability officer told Reuters.A key funder to polluting sectors, Germany's biggest lender, like many of its peers
The first big ship carrying grain from a Ukrainian Black Sea port has set sail since Moscow quit a deal in July to allow exports, a Ukrainian deputy prime minister said on Friday, part of Kyiv's campaign to break Russia's de facto blockade.The Aroyat "left the port Chornomorsk after loading 17,600 (metric tons of) Ukrainian wheat for Egypt," Oleksandr Kubrakov said on the X social media app
Hapag-Lloyd CEO Rolf Habben Jansen said on Thursday that it would not be in the container shipper's interest to make a counter offer for HHLA, the main operator of Hamburg port, and may instead cut its traffic through the hub.On Wednesday, Switzerland-based MSC, the world's biggest container shipping company, offered to buy almost half of the port operator in a deal that could be worth nearly 1.
Swiss-based MSC, the world's biggest container shipping company, has offered to buy almost half of the main operator of Hamburg port in a deal that could be worth nearly 1.3 billion euros ($1.4 billion), setting the stage for a potential bidding war.Shares in HHLA, which runs Germany's biggest port
U.S. West Coast ports, which reached a labor deal with their workers this summer, gained market share in August from the previous month, while their main rivals on the East Coast lost ground, Descartes Systems Group DSG.TO said on Monday.For more than a year, as worker labor talks dragged on, West Coast ports lost market share.