The last 12 months has seen values rise to near-record levels across several sectors of the shipping industry, fuelled by the post-covid shipping boom and a strong newbuild market.The report states that the newbuild market experienced continued growth, with a notable rise in orders, particularly in the Post/Panamax and Capesize sectors.
There’s plenty to go around for everyone, no matter it comes from.I will admit that attending the 2024 Workboat Show in the Big Easy just ten days after settling into the MarineNews Editor’s chair (for this, the second time around) had my full attention. The event typically evokes the specter of drinking from the proverbial fire hose in routine times
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.
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.
Shipping group Maersk raised its full-year earnings and market demand forecasts on Thursday, partly due to disruptions to Red Sea trading routes, but also said prospects for the fourth quarter were uncertain.The Danish group, seen as a barometer of world trade, said it now expected global container market volumes to increase 4-6% this year
Salvage operations were in high-gear on Thursday to prevent a potential oil spill and pollution along South Africa's west coast from a grounded general cargo vessel, authorities said.The Panama-flagged "Ultra Galaxy" ran aground close to Doring Bay, some 300 km north of Cape Town, late on Tuesday after it started listing badly.
Royal Boskalis B.V. on Monday announced it has reached a deal to take full ownership of marine services and towage provider Smit Lamnalco, after another deal for the company to be acquired by Spain’s Boluda Group fell through.Dutch dredging contractor and marine services firm Boskalis, which has held a 50% stake in Smit Lamnalco alongside joint owner Saudi Arabia's the Rezayat Group since 1964
The authorities in Singapore have launched an oil spill clean-up operation after the Netherlands-flagged dredger Vox Maxima struck a stationary Singapore-flagged bunker vessel Marine Honour, causing a rupture of one its oil cargo tanks which released the low-sulphur fuel oil to the sea.
Ten weeks after the collapse of Baltimore’s Francis Scott Key Bridge, salvage crews successfully removed the final large steel truss segment blocking the 700-foot-wide Fort McHenry Federal Channel on June 3-4.Using concrete breakers, underwater surveys, and oxyacetylene torches, they separated tons of concrete roadway, cable
Malaysia-based offshore services firm Sapura Energy has through its joint venture companies secured $1.8 billion worth of contracts with Brazil’s state-owned energy giant Petrobras for the provision of subsea services and six pipe-laying support vessels (PLSVs).Sapura Energy has through the joint ventures owned by Seabras Sapura Holding and Seabras Sapura Participações
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.
The U.S. Army Corps of Engineers said Thursday it expects to open a new channel to the Port of Baltimore by the end of April, freeing up commercial shipping blocked by a collapsed bridge, and then restore port access to full capacity by the end of May.The main channel has been blocked by wreckage since the fully loaded container ship Dali lost power and rammed into a support column of the