Canada Pension Plan Investment Board (CPP Investments) and OMERS have agreed to sell their combined 63.9% stake in Associated British Ports (ABP) to a fund managed by IFM Investors, in a deal expected to close in the first half of 2027.Under the agreement announced on October 21, CPP Investments will sell its entire 33.9% holding, while OMERS will dispose of its 30% stake in the UK ports operator.
Ongoing fleet renewal by niche player Cool Carriers indicates continuing competitiveness at scale of the specialized, pallet-optimized reefership.Not so long ago, it seemed that the unrelenting march of containerization and ever-widening influence of the powerful ocean container line entities would finally usurp the conventional, breakbulk refrigerated cargo vessel.
Italy has formally launched its next-generation destroyer program, with Orizzonte Sistemi Navali (OSN) signing a contract valued at approximately $4.2 billion with OCCAR for two new DDX destroyers for the Italian Navy.OSN, the joint venture between Fincantieri (51%) and Leonardo (49%), said the contract includes approximately $1.
Oman's Asyad Group and France's CMA CGM Group have signed a framework agreement to develop, manage and operate a multipurpose logistics terminal in Sohar, establishing a strategic partnership aimed at boosting maritime connectivity and opening new regional trade corridors.The agreement, signed during the official visit of Sultan Haitham bin Tarik to France
Two supertankers and one liquefied natural gas (LNG) tanker exited the Strait of Hormuz earlier this week with their transponders switched off, and are heading for India and China, shipping data from LSEG and Kpler showed.The vessels joined a number of tankers leaving the Gulf this month, although oil and LNG traffic overall has still been limited.
The U.S. Coast Guard commissioned its newest Fast Response Cutter, USCGC Vincent Danz (WPC 1162), for official entry into its service fleet during a ceremony held in New York City on Friday.The Vice Commandant of the Coast Guard, Vice Adm. Thomas Allan, presided over the ceremony. Members of the Danz family were also in attendance, including the cutter's sponsor, Angela Donohue
Introduction. Looking back at history one could argue that it was French author Jules Verne in his book “20,000 Leagues Under the Sea”, published in 1869, who was speculating about a new power source much in the same out of the box thinking that H.G. Wells employed when he wrote about inter-planetary flight in “War of the World’s.
Many claim to have ‘saltwater in their veins,’ but all you have to do is walk into the corner office of John McDonald, the new Chairman and CEO of the American Bureau of Shipping (ABS), to see that him saying “I was born into maritime” is not hyperbole. The first thing that greets you is a Dusan Kadlec nighttime painting of the Brooklyn Bridge
With a growing focus on mitigating climate change and progressing toward the International Maritime Organization’s (IMO) 2050 net-zero target, the marine sector is under intense pressure to decarbonize. Today, maritime transport emits nearly one billion tons of CO2 annually, representing roughly 2-3% of all energy-related carbon emissions worldwide .
ABS has launched Eagle CRoute, an online tool designed to help containership operators improve operational flexibility through route-based lashing reduction factor calculations.Changing port rotations, blank sailings, evolving stowage plans and shifting geopolitical conditions are increasing pressure on operators to make faster loading decisions.
A new European partnership is set to help shipping companies navigate one of the industry's biggest climate challenges: how to decarbonize the existing fleet quickly, safely, and cost-effectively.The new FIT-HORIZONS project is bringing together 19 leading maritime companies, researchers, universities, software developers
C&C Marine and Repair has delivered the M/V Al Sloss to Canal Barge Company, completing the first vessel in a four-boat newbuild series currently under construction for the New Orleans-based operator.The 2,600-horsepower, 87- x 34-ft. towboat was designed by C&C Marine and Repair’s in-house engineering team and constructed on an accelerated schedule