Around 20 ships are stuck in traffic along Germany's river Rhine, where low water levels have already impeded shipping this summer, after a vessel's engine failure closed part of the waterway, authorities said on Wednesday.A vessel with a 1,660-ton load was forced to drop anchor due to an engine failure, closing traffic between St Goar and Oberwesel, river police said.
German container shipper Hapag-Lloyd on Thursday posted a net profit of 8.7 billion euros ($8.94 billion) for the first half of 2022, more than three times as much as a year earlier, but said war in Ukraine and the coronavirus crisis somewhat clouded its prospects.The company, the world's fifth-biggest container line, upheld forecasts made on July 28 for full year 2022 earnings before interest
German container shipping group Hapag-Lloyd on Thursday reported first-quarter net profit of 4.2 billion euros ($4.4 billion), more than triple the number a year ago and, forecast another strong performance for the second quarter."The year has got off to an exceptionally strong start on the whole, and whilst there have been first signs that the market has passed its peak
German Chancellor Olaf Scholz said last week that Germany may consider halting the Nord Stream 2 pipeline if Russia attacks Ukraine, reflecting growing political pressure on the Gazprom-led project.Russia has massed troops on the Ukrainian border but denies it is planning an attack, while the United States and Europe have promised to impose sanctions on Moscow should it invade
Germany's energy regulator has temporarily halted the certification process for the Nord Stream 2 gas pipeline, requiring the Swiss-based, Gazprom-led consortium behind the infrastructure to form a German subsidiary to secure a licence.Following are some of the legal considerations associated with the move by Germany's Federal Network Agency
On October 31, 2022, global maritime leaders of tomorrow graduated from the World Maritime University (WMU). The Class of 2022 has received the education required to contribute to maritime and ocean matters in their home countries and more broadly to the implementation of the United Nations Sustainable Development Goals (UN SDGs).
German container shipper Hapag-Lloyd is spending billions on expanding and renewing its fleet and looking at investing in more port infrastructure to extend its edge in the post-COVID 19 world economy, chief executive Rolf Habben Jansen told Reuters.The Hamburg-based company, the world's fifth-biggest container line
The United States will work to supply 15 billion cubic meters of liquefied natural gas (LNG) to the European Union this year to help it wean off Russian energy supplies, the transatlantic partners said on Friday.The EU is aiming to cut its dependency on Russian gas by two-thirds this year and end all Russian fossil fuel imports by 2027 due to Russia's invasion of Ukraine.
Southern Europe's first all-electric ferry is being built by Navaltagus Reparação e Construção Naval, a member of Grupo ETE, in Portugal.Designed by Vera Navis Naval Architects, the zero-emissions ferry is being built and will operate in Aveiro, Portugal.Shift Clean Energy and Nave De Luz Lda (NDL) are co-leading a consortium to supply and install electrical components for the new vessel.
The shipping industry may face unexpected risks from labor negotiations in western U.S. ports and winter weather in the northern hemisphere over the next few months, the head of German container firm Hapag-Lloyd said on Thursday."Winter can have a significant impact on shipping," Chief Executive Rolf Habben Jansen said in an online call with reporters
A German regulator's decision to suspend licensing of the Nord Stream 2 pipeline could delay commissioning of the infrastructure to March 2022, government sources told Reuters."I expect that the start of Nord Stream 2 could be delayed until March 2022," a government source said on Wednesday.
Luling, La. based marine towage provider Bisso Towboat said it has ordered a new tractor tug from Houma, La. shipbuilder Main Iron Works. Construction is scheduled to commence in late 2022 with delivery in early 2024, Bisso revealed in an announcement.The 5,000 BHP ASD tug will feature two Caterpillar 3516E Tier 4F main propulsion engines generating 2,500 BHP each at 1,600 RPM.