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
The IMO Net-zero Framework agreed at MEPC 83 last week is the first in the world to combine mandatory emissions limits and GHG pricing across an entire industry sector. The measures include a new fuel standard for ships and a global pricing mechanism for emissions. These measures, set to be formally adopted in October 2025 before entry into force in 2027
The European Commission has presented its Clean Industrial Deal which aims to accelerate decarbonization while securing the future of manufacturing in Europe.President Ursula von der Leyen said: “Europe is not only a continent of industrial innovation, but also a continent of industrial production.
A Finnish district court ruled on Friday that it does not have jurisdiction to prosecute the captain and two officers of the Eagle S oil tanker, who are accused of breaking undersea power and internet cables in the Baltic Sea last year.Finland has said the Eagle S is part of a shadow fleet of tankers used by Russia to circumvent sanctions on its oil exports.
Two senior officials at the White House National Security Council have left their roles in recent days, according to two sources familiar with the moves, the latest departures for a body that has been cut sharply in recent months.Ian Bennitt, the senior director for maritime and industrial capacity, and Brian McCormack, the NSC's chief of staff, both departed last week, said the sources
The Bureau of Ocean Energy Management announced the publication of a Proposed Notice of Sale (PNOS) for an oil and gas lease sale in the Gulf of America.As directed by Secretary of the Interior and outlined in the PNOS, Lease Sale 262 will offer approximately 15,000 unleased blocks located 3 to 231 miles offshore across the Gulf’s Western, Central, and Eastern Planning Areas.
Danish shipping group A.P. Moller - Maersk has named the first vessel in a series of 17,480 TEU vessels equipped with dual-fuel methanol propulsion, which will operate under the name of Berlin Mærsk.The naming event took place on June 18, at Hyundai Heavy Industries’ (HHI) yard in Ulsan, South Korea.
The world's first commercial-scale e-methanol plant began operations in Denmark on Tuesday, with shipping giant Maersk set to buy part of the production as a low-emission fuel for its fleet of container ships.The shipping sector is under pressure to find new sources of fuel after a majority of countries gave their backing to measures to help meet the International Maritime Organization's targets
KERSHIP launched the construction of the first of two OPV 60M offshore patrol vessels for the Montenegrin Navy at its Lorient shipyard on April 24 in the presence of Mr. Dragan Krapovic, Minister of Defense of Montenegro, Ms. Anne-Marie Maskay, Ambassador of France to Montenegro, and numerous French and Montenegrin civilian and military personalities.
CK Hutchison on Thursday reported an 11% drop in underlying profit for 2024, as one of Hong Kong's most powerful conglomerates becomes increasingly embroiled in a political row over the sale of its ports business to a BlackRock-led consortium.The telecoms-to-retail conglomerate, owned by billionaire Li Ka-shing, said this month it had agreed to sell most of its global ports business
Crew on board an oil tanker accused of sabotaging undersea power and communications cables in the Baltic Sea were poised to cut other cables and pipelines when Finnish authorities boarded the vessel last month, the head of the Finnish investigation said.Baltic Sea nations are on high alert after a string of power cable, telecom link and gas pipeline outages since Russia invaded Ukraine in 2022.
Tributes have been paid to The Maritime Group (International) (TMG) founder Captain John M Cox III following his death at the age of 93.Capt Cox, known to his friends as Jack, died peacefully in Seattle on Thursday November 21 after a short illness.He recently retired as chairman and president of The Maritime Group (International), which included The Maritime Group, Inc.