Wisdom Marine cashes in on handy bulker sale in deal with Turkish owner
Taiwan’s Wisdom Marine has cashed in on one of its handysize bulk carriers as it makes room for fresh tonnage. The Taipei-based bulker giant, led by shipping magnate Lan Chun Sheng (James Lan), is offloading the 2015-built Bunun Glory in a deal with Turkish owner Manta Denizcilik. The sale, which is the company’s second recorded […]
Shelf Drilling offloads jackup rig for $60m
Dubai-based jackup rig player Shelf Drilling has sold one of its units after the completion of its contract in West Africa. The Oslo-listed firm with a fleet of 36 jackups said in a filing the 1983-built and 2015-upgraded Baltic has gone to an undisclosed buyer for $60m. The rig, which has been under contract in […]
Cape owners contend with soaring Mongolian coal shipments by rail to China
The capesize business is experiencing some of the greatest shifts in global trades in the 2020s among all shipping segments. As well as the growth of West Africa exports of bauxite – and soon to be iron ore – to China, cape owners are having to contend with the growth of Mongolian and Russian exports […]
COSCO and Fortescue partner to build green fuel supply chain
COSCO SHIPPING and Fortescue, a global green technology, energy and metal company, inked a memorandum of cooperation in Shanghai, on July 25. Under the agreement, both parties will leverage their technological and resource strengths to jointly develop a sustainable green fuel supply chain. This initiative aims to advance the shipping industry’s energy structure transformation, foster […]
Ignazio Messina & C. receives newly-acquired post-panamax boxship
Italy-based shipping company Ignazio Messina & C. added a second 6,300 TEU container ship to its fleet. The Genoa-headquartered firm took delivery of the vessel in the Singapore Bay on July 29. This vessel, renamed Jolly Bianco, is a sister vessel of the Jolly Verde that has been acquired last April, and therefore is the […]
Philippine oil spill spreads far and wide
The oil spill from the Terra Nova tanker that capsized and sank in the Philippines last Thursday has spread far and wide, including entering the waters around the capital, Manila. The oil slick is now stretching for more than 50 km with local media showing images of blackened seas along the southwest coast of Luzon, […]
CSSC adds $690m of extra shipyard capacity
China State Shipbuilding Corp (CSSC) is expanding production capacity. The state-run shipbuilding giant has just announced an RMB5bn ($690m) double acquisition – taking over the Shanghai assets of Tianjin Xingang Shipbuilding Heavy Industry, which comes with two massive drydocks as well as buying out Wuhan Wuchang Shipyard Hangrong Heavy Industry Equipment. The two acquisitions will […]
Flagship Founders and Studio 30 50 join forces
Berlin’s Flagship Founders and Singapore-based Studio 30 50, two maritime technology venture studios, are combining their future venture-building activities under the Flagship Founders brand. Founded in Berlin in 2020, Flagship Founders has built five companies operating in areas such as emissions management, crew planning and ship inspections. Studio 30 50 was launched in 2023 as […]
Canada’s largest shipbuilder to invest in the US
The White House has announced that Canada’s largest shipbuilding group will buy a yard in the US. Davie Shipbuilding, which last year bought out Helsinki Shipyard, is about to make a major investment in an unspecified US shipyard, the White House revealed yesterday. On July 11, the leaders of the US, Canada, and Finland announced […]
Turkey to implement its own emissions trading scheme for shipping
Shipowners looking to Europe’s eastern edge to skirt around new environmental regulations will have to look elsewhere. Turkish politicians are pressing ahead with their own emissions trading scheme (ETS) for shipping which will align largely with the European Union’s own recently introduced ETS. The policy now awaits ratification from the country’s president. Turkish ports – […]