A record wave of global investment in new ships is translating into sustained growth for Germany's marine equipment industry, with suppliers reporting rising revenues, strong order books and growing optimism despite mounting geopolitical and competitive pressures.According to the latest industry survey from VDMA, Germany's maritime supplier sector posted average revenue growth of 5.
A.P. Moller Holding has agreed to acquire 100% of Oslo-based ship leasing company Ocean Yield from funds managed by investment firm KKR, expanding its maritime portfolio.Ocean Yield has interests in more than 70 vessels across several shipping segments, including gas carriers, LNG carriers, container ships, crude, product and chemical tankers, and dry bulk carriers.
Classification societies have always occupied a unique position in maritime: technical arbiters, rule makers, certifiers, and, increasingly, strategic advisors helping shipowners navigate some of the most consequential decisions in shipping’s and shipbuilding’s history. As maritime grapples with decarbonization mandates, digital transformation, automation
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.
Malaysia's Prime Minister Anwar Ibrahim said on Thursday he had spoken to the leaders of Iran, Egypt, Turkey and other regional countries and said Malaysian vessels were now being allowed to pass through the Strait of Hormuz.Anwar in a televised address thanked Iran's president for allowing the passage of Malaysian ships.
The number of people confirmed dead after a boat carrying members of Myanmar's persecuted Rohingya community sank near the Thailand-Malaysia border rose to 11 on Monday, authorities said, with about 70 people believed to have been on board the capsized vessel.The status of another boat carrying 230 passengers remained unclear, Malaysian authorities said
South Korea's HD Hyundai Heavy Industries is in talks with multiple companies about buying a U.S. shipyard, a senior company executive said, seeking to tap into President Donald Trump's push to revive America's ailing shipbuilding industry.The world's largest shipbuilder based on orders is targeting 3 trillion won ($2.2 billion) in annual revenue by 2035 from building warships for the U.S.
While political winds in the U.S. have significantly tampered many ‘green’ projects, Curtin Maritime is domiciled in California, which is globally known for its strict environmental initiatives. To that end, Curtin Maritime inked a contract recently to invest $160m for eight new hybrid-electric tugboats, vessels being built by Snow & Co.
European defense giant Rheinmetall has signalled interest in taking over German shipbuilder Naval Vessels Luerssen, industry sources told Reuters on Wednesday, as the Duesseldorf-based firm looks to expand into the naval business.According to the Bild newspaper, which first reported Rheinmetall's plans, the supervisory board intends to consider the purchase in the coming weeks.
Order intake, exports, and green technology demand fuel confidence for 2025Germany’s maritime equipment and offshore supply industry is posting steady growth in 2024 and setting an optimistic course for 2025, according to new figures released by the VDMA Marine Equipment and Systems Association.With an average turnover increase of 5.
Navigator Holdings has signed a non-binding letter of intent to sell eight gas carriers and its shareholding in a joint venture for about $183 million.The agreement with Bernhard Schulte and Sloman Neptun covers vessels currently managed under the Unigas International joint venture.
Amon Maritime has entered into a joint venture with Navigator Holdings Ltd., the owner and operator of the world’s largest fleet of handysize liquefied gas carriers.Pursuant to the Joint Venture, Navigator will acquire approximately 80% of the joint venture company, Navigator Amon Shipping AS, of Norway, with Amon Maritime holding approximately 20%, subject to the investment terms and conditions.