German container shipping firm Hapag-Lloyd on Thursday posted a 50% drop in nine-month net profit to 846 million euros ($986.6 million) and lowered the top end of its full-year earnings outlook, citing market volatility and rising costs.The company narrowed its full-year earnings before interest and taxes (EBIT) forecast to between 0.5 billion and 1.
Moran Towing Corporation acquired Bisso Towboat Co, as it aims to accommodate growing needs of New Orleans and the Lower Mississippi River communities.Moran was founded in 1860 and is privately owned and operated. It offers ship assist services in 17 ports along the U.S. East and Gulf Coasts and has operated in New Orleans since 2006.
Green hydrogen developers are cancelling projects and trimming investments around the world, raising the prospect of longer than targeted reliance on fossil fuels.The challenges facing the sector have exposed its initial ambitions as unrealistic.Hard-to-electrify industries that were seen as ideal candidates for green hydrogen, such as steelmaking and long-distance transportation
Two of the world's top shipping companies, Maersk and Hapag-Lloyd, said on Thursday they did not see an immediate return to Red Sea after the ceasefire between Hamas and Israel was announced.Both companies said they would be closely monitoring the situation in the Middle East and would return to the Red Sea once it was safe to do so."The agreement has only just been reached.
Skana Robotics, a defense tech startup, is unveiling its latest autonomous vessel, the Alligator, the first amphibious vessel that combines infrastructure-free deployment, manned or unmanned operation, and the ability to carry and launch other autonomous systems. The Alligator joins Skana’s fleet of maritime autonomous vessels
Several Greek-managed tankers transporting Russian oil to Asia are increasingly avoiding the Red Sea, opting instead for the longer route around Africa, due to escalating security threats from Houthi attacks, three oil traders and LSEG shipping data show.The rerouting follows a deadly drone and speedboat assault earlier this month on a Liberian-flagged, Greek-operated bulk carrier off Yemen
Shipbuilding in the United States has seen a heightened profile with increased attention from Congress and the Trump 2.0 Administration. The ongoing dialogue regarding reinvigorating the U.S. deep sea fleet has brought mainstream attention to vessel construction, which has been nearly absent in recent years.
Germany is expanding its natural gas import options to replace Russian supply, a drive intensified by the latest suspension of Russian flows via Ukraine and U.S. President Donald Trump targeting Europe with liquefied natural gas exports.Plans also include shore-based regasification terminals and facilities to import and produce ammonia and green hydrogen under decarbonization strategies.
There is no specific timeline for when the shipping industry will resume sailing through the Suez Canal, but any return would be gradual, the chief executive of Hapag-Lloyd, the world's fifth-largest container company, said on Thursday.Shipping companies have been sailing costly routes around Africa since November 2023 to avoid attacks on commercial vessels in the Red Sea by Yemen's Houthi
Container shipping company Hapag-Lloyd reported a 3.1% decline in first-half net income on Thursday and lowered the top end of its full-year earnings forecast, largely due to uncertainty over geopolitical issues and U.S. trade policy.The world's fifth-largest shipping firm projected full-year earnings before interest and taxes ranging between 200 million euros and 1.
Container shipping liner Hapag-Lloyd will be able to cope with the advent of U.S. tariffs on Chinese products, its chief executive told reporters on Tuesday."It is too early to push the panic button," CEO Rolf Habben Jansen said in the remarks published on Wednesday, when additional 10% tariffs kicked in, and made before U.S.
Norwegian shipping firm Hoegh Evi expects to take a final investment decision (FID) this year on an ammonia-derived hydrogen project to deliver clean fuel into dedicated German grids, chief executive Erik Nyheim said.The company operates three of its nine floating storage and regasification units (FSRU) for LNG along the German coast