German defense contractor Rheinmetall and Swiss shipping company MSC have won an auction to acquire Romania's Mangalia shipyard for approximately $155 million (€138 million), with plans to develop the facility for both commercial and military shipbuilding.The acquisition, expected to be completed within a few weeks, will be jointly funded by the two companies, Rheinmetall said.The shipyard, located south of Constanța…
Freight rates for oil shipments from Russia's western ports to India remained at record highs in late October, reflecting risks in the Black Sea and a shortage of vessels amid disruptions and strong global demand, three trading and shipping sources said…
Global commodity prices are set to surge 23% in 2026, the World Bank said on Wednesday, citing rising energy prices and disruptions to cargo shipping during the Middle East war, grain shipment problems in the Black Sea and high demand for safe-haven assets such as gold…
Russia, the world's largest wheat exporter, has turned to an Arctic World War II shipping route to export grain for the first time as the conflict in Ukraine stalls Black Sea trade and officials warn of risks in the NATO-controlled Baltic Sea…
Seatrium announced that it has entered into a Memorandum of Understanding (MoU) with global floating power solutions specialist Karpowership to pursue a joint venture to develop floating power and infrastructure solutions in Singapore, with…
Russia's seaborne grain exports dropped by 61.9% year on year in September to almost 2.0 million metric tons due to a sharp decline in shipments via the ports of the Azov-Black Sea basin, according to shipping data from industry sources.Total seaborne exports have amounted to 6…
Asia's imports of liquefied natural gas are likely to rise to a three-month high in October despite the surge in spot prices to the most in almost four years.October arrivals in the top-importing region are estimated at 23.31 million metric tons…
The cost of shipping oil on the largest tankers fell this week from record highs as demand eased following a wave of attacks on vessels in the Middle East and as the US considered easing sanctions on the so-called shadow fleet.Freight rates for supertankers…
DP World has deployed 55 electric yard tractors (E-YTs) at its Busan terminal in South Korea, marking a step up in its efforts to reduce emissions from terminal operations.The new E-YTs replace Liquefied Natural Gas (LNG)-powered vehicles and…
DP World announced the appointment of Jason Varsamidis as Chief Executive Officer and Managing Director of its Asia Pacific region, effective immediately.Jason will lead DP World Asia Pacific’s portfolio of ports and terminals and logistics businesses across 22 geographies…
HDR has named Richard Crowther regional maritime director for Europe and the Middle East.A chartered civil engineer with 17 years of experience, Crowther has worked across the full life cycle of port and marine infrastructure, including due diligence…
The jump to record highs in the cost of shipping oil in supertankers is squeezing profit margins for Asian oil refiners, who are heavily dependent on Middle Eastern crude, the International Energy Agency said in a monthly report.Asian oil refiners…
'During the first two weeks of October, weekly container ship capacity transiting the Suez Canal averaged 753k TEU, according to Clarksons Research, compared with 1,457k TEU during the same period in 2023. Since the Houthi attacks began in the Red Sea…
Construction of OMS Group’s next-generation cable-laying vessel, CS Resilience, has reached a milestone with the laying of its keel at CRIST Shipyard in Gdynia, Poland, on September 17, 2026.The keel laying marks the start of hull assembly for…
Asia LNG Transport (ALT), a joint venture between NYK and MISC Berhad, has signed a long-term time-charter contract with Malaysia LNG for a newbuild liquefied natural gas (LNG) carrier that will transport LNG to Japan.The vessel will be constructed by Hudong-Zhonghua Shipbuilding in China…
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