Port and logistics firm DP World is going ahead with a 1 billion pound ($1.3 billion) investment in its London Gateway port, Britain's government said on Sunday after reports last week that the company had paused the project in protest.In what had been an embarrassment for the government before a major investor conference
U.S. East Coast and Gulf Coast ports began reopening late on Thursday after dockworkers and port operators reached a wage deal to settle the industry's biggest work stoppage in nearly half a century, but clearing the cargo backlog will take time.The strike ended sooner than investors had expected, weakening shipping stocks across Asia on Friday as freight rates were no longer expected to surge.
Britain on Thursday sanctioned five vessels and two associated entities involved in the shipping of Russian LNG, with the government saying it was using new legal powers for the first time to target LNG vessels directly."Earlier this year, the UK sanctioned Arctic LNG 2, alongside our allies in the US and EU.
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
Container ship MSC Sky II was continuing its voyage to Djibouti on Tuesday after being hit by a missile a day earlier near Yemen's port city of Aden, its operator MSC said.MSC Sky II was hit by a missile about 85 miles southeast of Aden and 170 miles east-southeast of the Bab al-Mandab Strait while it was sailing from Singapore to Djibouti, the Swiss-headquartered MSC said in a statement.
One of two anti-ship ballistic missiles fired by Yemen's Houthis at the container vessel M/V MSC SKY II in the Gulf of Aden hit the ship and caused "damage", the U.S. Central Command (CENTCOM) said on Tuesday.Initial reports indicated no injuries and the Liberian-flagged, Swiss-owned container vessel did not request assistance and continued on its way, CENTCOM said in a statement.
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.
Oslo-headquartered dry bulk shipping company Golden Ocean Group announced its board has appointed Lars-Christian Svensen as CEO, effective January 1, 2024.Svensen had been serving as interim CEO following the resignation of the company's previous CEO, Ulrik Andersen, in June 2023.Svensen joined Golden Ocean as chief commercial officer in December 2020 and was previously senior vice president in
The Indian Navy will deploy guided missile destroyer ships in the Arabian Sea as a deterrent after an Israel-affiliated merchant vessel was struck off the Indian coast over the weekend.The navy was investigating the nature of the attack on the vessel, MV Chem Pluto, which docked in Mumbai on Monday, and initial reports pointed to a drone attack, a navy statement said.
As low water level continue to plaque the Panama Canal, shipowners and managers are paying the price in the form of longer hauls and higher fuel (and emissions) costs to deliver product to market.In one example, oil tanker Cururo is taking the long way from Houston to Chile: sailing the length of South America's Atlantic coast
Hanwha Ocean has secured an order worth approximately $500 million to construct four very large ammonia carriers (VLACs) for Greek shipping company Naftomar Shipping and Trading Co. Ltd. Inc (Naftomar). Each VLAC will be able to transport 93,000 cubic meters (cbm) of ammonia, a carbon-free fuel, making them the largest vessel of their class in the world, Hanwha Ocean.