CK Hutchison's plan to sell most of its $22.8 billion ports business is unlikely to be finalised anytime soon, with political brinkmanship set to continue, and sources saying that a Sunday deadline for exclusive talks was likely to be extended.The Hong Kong conglomerate's plan to sell the business, which would include two ports along the strategically important Panama Canal
BP has won its arbitration case against Venture Global over the U.S. supplier's failure to deliver liquefied natural gas under a long-term contract that was due to start in late 2022, Venture Global said on Thursday.The International Chamber of Commerce International Court of Arbitration found that Venture Global breached its obligations to declare commercial operations had begun at the
DNV has published a report forecasting that carbon capture and storage (CCS) capacity is expected to quadruple by 2030, with sharp increase project pipeline capacity indicating that CCS is at a turning point.The immediate rise in capacity is being driven by short-term scale up in North America and Europe, with natural gas processing still the main application for the technology
JERA, Japan's biggest power generator, has agreed to new supply deals for U.S. liquefied natural gas from four projects to diversify its global portfolio away from its reliance on Australia, it said on Thursday.JERA plans to buy up to 5.5 million metric tons per annum (mtpa) of U.S. LNG under 20-year contracts, with deliveries starting around 2030.
On March 26, 2024, the M/V Dali, a massive Neopanamax (the terms for the size limits for ships travelling through the Panama Canal, 1201 ft. long and 168 ft. wide) container ship, collided with the Francis Scott Key Bridge,an incident that highlights the growing tension between U.S. maritime infrastructure and modern shipping practices.
South Korea and Singapore signed memorandums of understanding (MoU) on artificial intelligence and green shipping, South Korea's President Lee Jae Myung said at a joint press conference with Singapore's Prime Minister Lawrence Wong on Sunday after having a bilateral summit in Seoul.The two countries also agreed to cooperate on defense technology, Lee added.
Australian Prime Minister Anthony Albanese met his Papua New Guinea counterpart James Marape in the capital of the largest Pacific Island nation on Wednesday for defense talks after plans to sign a landmark mutual defense treaty stalled.The two leaders instead signed a defense communique.Marape told reporters it was in the two countries' mutual interest to work side by side on defense.
The number of vessels that passed through the Panama Canal edged down slightly to an average of 32.5 ships per day in August compared to the 32.6 per day in the previous month, its authority said in a bulletin released on Wednesday.While traffic through the world's second-busiest inter-oceanic waterway has increased since last year, when it lifted passage restrictions related to a severe drought
Dozens of tankers have joined the shadow fleet this year compared with hundreds in previous years as the harshest Western sanctions yet target Russia's oil exports and add to the difficulty of finding suitable vessels, shipping sources said.The European Union and Britain last month imposed further sanctions on Russia over its war in Ukraine.Together with U.S.
Two people died on Thursday after a helicopter they were on board crashed into a barge on the Mississippi River, shutting the waterway to traffic near Alton, Illinois, the U.S. Coast Guard said.Preliminary information indicated the MD 369 helicopter hit power lines before the crash, according to the National Transportation Safety Board.
Australia offers a secure alternative supply for critical minerals vital to industry, its trade minister Don Farrell said on Thursday, in the face of rising concerns about Beijing's dominance of the sector.China's decision in April to suspend exports of a wide range of rare earths and related magnets crucial to sectors ranging from automakers to aerospace and defence was widely seen as Beijing
French shipping and logistics group CMA CGM will continue to avoid the Red Sea even though it considers the region is more stable following the ceasefire agreement between Israel and Hamas, it said on Saturday.Shipping executives remain cautious about a return to the Red Sea, where Iran-backed Houthis have carried out more than 100 attacks on ships since November 2023