Italian shipbuilder Fincantieri on Thursday raised its full-year forecast on revenue to "above" 8 billion euros ($8.43 billion), from "about" previously indicated, boosted by all business segments.The Trieste-based vessel maker reported a nine-month core profit (EBITDA) a 19% rise to 328 million euros, while its January to September revenue stood at 5.58 billion euros, up 3.7% yearly.
The Panama Canal Authority could double in coming years the number of containers that move through the commercial waterway that links the Pacific and the Atlantic oceans, the canal's chief told a maritime conference.The authority, which has an $8 billion investment plan, is putting in place a water conservation strategy following a severe drought that forced ships between late 2023 and early
Washington State Ferries announced it has canceled the sale of two retired vessels after the buyer failed to meet its contractual obligations and left a tugboat crew abandoned in Puget Sound.Sold in August for $100,000 apiece, the decommissioned WSF ferries Elwha and Klahowya had been sold to Nelson Armas, who has gained approval from the U.S.
The cost of insurance for ships sailing through the Red Sea has nearly doubled after Yemen's Houthis attacked a tanker that appears to be leaking oil, with environmental fears growing for trade route, industry sources said on Wednesday.Iran-aligned Houthi militants first launched aerial drone and missile strikes on the waterway in November in what they say is solidarity with Palestinians in Gaza.
Britain's new Labor government will end the use of the controversial Bibby Stockholm barge to house migrants off the south coast of England as part of its overhaul of the asylum system, it said on Tuesday.Use of the vessel, which can house up to 500 men, began under the Conservative government with the aim of cutting the 8 million pounds a day cost of hotel accommodation for asylum seekers while
Star Bulk Carriers Corp. on Tuesday announced that it has completed its merger with fellow dry bulk shipping company Eagle Bulk Shipping Inc.Eagle Bulk shareholders this week voted to approve the $2.1 billion deal, which was first announced in December 2023.Under the terms of the merger agreement, each Eagle shareholder received 2.
AET, a member of the MISC Group, held a naming ceremony in Singapore for its latest liquefied natural gas (LNG) dual-fuel very large crude carrier (VLCC), Eagle Veracruz.The Singapore-flagged 300,000 dwt tanker was named by Singapore’s Minister for Sustainability and the Environment (MSE) Grace Fu, who is also the Lady Sponsor of the vessel.
Yemen's Houthi movement will expand its targets in the Red Sea region to include U.S. ships, an official from the Iran-allied group said on Monday, as it vowed to keep up attacks after U.S. and British strikes on its sites in Yemen.Attacks by the Houthis on ships in area since November have impacted companies and alarmed major powers in an escalation of Israel's more than three-month war with
Houthi forces in Yemen struck the U.S.-owned and operated dry bulk ship Gibraltar Eagle with an anti-ship ballistic missile, U.S Central Command said on Monday, although there were no reports of injuries or significant damage.The vessel's U.S.-based operator Eagle Bulk Shipping said that it was hit by an "unidentified projectile" while sailing 100 miles off the Gulf of Aden and suffered limited
Recent hostilities in the Red Sea have thrown global shippers of vital goods for a loop - but it is hardly the only issue that big carriers are facing as 2024 kicks off.Giants like Maersk say the industry, which handles 90% of global trade, faces the possibility of significant disruptions, from ongoing wars to droughts affecting key routes like the Panama Canal.
Ocean freight rates are surging after a missile attack and attempted hijacking of a Maersk ship this weekend prompted carriers to suspend plans to restart transits through the Red Sea, a key artery to the vital Suez Canal trade route.Yemen-based Houthi militants have been attacking high-value cargo vessels in the Red Sea since November in a show of support for Palestinian Islamist group Hamas
Dry bulk shipping companies Star Bulk Carriers and Eagle Bulk Shipping have reached a deal to merge in a $2.1 billion all-stock deal.The terms of the definitive agreement have received unanimous approval from the boards of directors of both New York-listed ocean carriers, and the companes expect the deal to close in the first half of 2024 following approvals from regulators and Eagle shareholder.