Investment holding company Ocean Wilsons has agreed to sell its 56.47% stake in Brazilian unit Wilson Sons to shipping services provider SAS for 4.35 billion reais ($764.9 million), it said on Monday.London-listed Ocean Wilsons, which is the controlling shareholder of shipping firm Wilson Sons, said in a statement it was a "compelling time" for the sale
President Joe Biden’s administration heaped pressure on U.S. port employers to raise their offer to secure a labor deal with dockworkers on strike for a second day on Wednesday, choking half the country’s ocean shipping.The strike by the International Longshoremen's Association (ILA) union has blocked goods from food to automobile shipments across dozens of ports from Maine to Texas
Hanwha Ocean on Wednesday announced it has secured a contract that makes it the first Korean shipbuilder to provide maintenance, repair, and overhaul (MRO) services for the U.S. Navy.The 40,000-ton U.S. Navy dry cargo and ammunition ship USNS Wally Schirra is undergoing maintenance and inspection at Hanwha Ocean’s Geoje shipyard
South Korean shipbuilding group Hanwha Ocean on Tuesday announced it has been certified to participate in vessel maintenance, repair and overhaul (MRO) activities for the U.S. Navy.The company said its Master Ship Repair Agreement (MSRA) signed with the U.S. Navy enables it to bid to perform MRO work for U.S. naval vessels at its Geoje Shipyard in South Korea.
Spiking ocean shipping rates, vessel backups at seaports and empty container shortages - issues that wreaked havoc on global trade during the COVID pandemic supply-chain crisis - are back as the industry enters its busy season."There is a cocktail of uncertainty and disruption across global ocean freight supply chains," said Peter Sand, chief analyst at pricing platform Xeneta.
The leader of Yemen's Iran-aligned Houthis, who have been attacking shipping in the Red Sea, said on Thursday the group had carried out "operations" in the Indian Ocean and towards southern Israel.Abdul Malik al-Houthi's comments made clear that the Houthis have acted on earlier threats to expand operations to the Indian Ocean region and attacks towards southern Israel.
French shipping company CMA CGM and its business partners COSCO Shipping 601919.SS, Evergreen 2603.TW and OOCL said on Tuesday that they had agreed to extend their 'OCEAN Alliance' co-operation deal for another five years beyond 2027, to 2032.The 'OCEAN Alliance' partnership aims to help customers deal with their supply chains by offering up fast transit times and access to a wide range of ports
South Korean shipbuilder Hanwha Ocean has received an order to construct two very large crude carriers (VLCCs) for a shipping company in Oceania.The order for VLCCs, worth $257.8 million (342 billion won), is the first such order for Hanwha Ocean in the last three years. This is also the highest price for the vessels in 16 years, since the 2008 global financial crisis, the company said.
Hanwha Ocean has secured an order worth approximately $250 million for two very large ammonia carriers (VLACs) for a shipowner in the Oceania region.Each VLAC will be able to transport 93,000 cubic meters (cbm) of ammonia, and will be equipped with eco-friendly technology, the South Korean shipbuilder said.
New Jersey's utility regulator on Wednesday approved two offshore wind power projects with a combined capacity of 3,742-megawatts (MW) whose backers include Invenergy and TotalEnergies.The offshore wind industry is expected to play a major role in helping several states and U.S. President Joe Biden meet goals to decarbonize the power grid and combat climate change.
The U.S. military on Monday denied claims made by the Yemeni Houthi movement that it had attacked American cargo ship Ocean Jazz in the Gulf of Aden."The Iranian-backed Houthi terrorists' report of an alleged successful attack on M/V Ocean Jazz is patently false," the U.S. Naval Forces Central Command said in a statement.
Offshore drilling contractor Stena Drilling has taken delivery of its 7th generation Stena Evolution ultra-deepwater drillship from Samsung Heavy Industries.After a decade in the making, Stena Evolution drillship has finally been completed and is ready for its first job.The technologically advanced drillship is capable of operating at water depths of up to 12,000ft (around 3