Norden pounces on five leased ships and signs up for bulker newbuilds
Denmark’s Norden has seized the opportunity to bolster its owned fleet by five ships and signed to lease a fresh pair of bulker newbuildings as two older capesize units are being lined up for the new owner. The Jan Rindbo-led owner and operator has exercised purchase options on one handysize bulk carrier and four MR […]
Nicolas Saverys in second attempt to take Exmar private
Belgian shipowner Nicolas Saverys is planning to launch another voluntary and conditional public takeover bid for all shares in gas shipowner and infrastructure provider Exmar. Saverys’ investment vehicle Saverex would offer €11.5 in cash for each share it does not already own, a premium of 38.6% over Exmar stock’s closing price prior to the suspension […]
Trading house STX Group buys Marine Olie for biofuels business growth
Dutch environmental commodity trader STX Group has acquired compatriot trader of waste-based advanced feedstocks Marine Olie for an undisclosed sum. The Amsterdam-based firm said the move would bolster its position in the biofuels value chain and support the company’s aim of becoming a globally leading trader in the integrated feedstocks-to-fuels-to-ticket markets. Marine Olie’s experience in […]
Shipping heavyweights invest in UK decarbonisation firm
US-based shipbroker and consulting group McQuilling Partners has joined the growing list of marine industry heavy hitters backing the UK-listed green decarbonisation pioneer SulNOx. McQuilling is investing in a new funding round led by SulNOx’s largest shareholder Constantine Logothetis and Norway’s shipowner Nistad Group after the UK firm’s five-fold share price hike in 18 months. […]
Petrofac extends charter for DDW Offshore AHTS
Norway’s DDW Offshore, a subsidiary of Akastor, has been awarded a six-month extension for an anchor handling tug supply (AHTS) vessel from Petrofac. The extension will keep the contract term for the AHTS Skandi Emerald employed to July 14, 2025. Initially, the contract was awarded to the Skandi Atlantic in September 2022. In the summer […]
Challenge Group expands network to Africa
Challenge Group has begun operating in Africa for the first time with the launch of a new route from its hub at Liege Airport (LGG) in Belgium to Nairobi (NBO) in Kenya. The new route launched on December 2 and is served by twice weekly flights on Mondays and Thursdays, using a Boeing 767 freighter […]
Pre-tariff rush and e-commerce demand to fuel a busy start to 2025 for air cargo
With the peak season at its peak, attention in the air cargo market is beginning to turn to the coming 12 months and many are predicting another busy period for the industry despite recent developments. There has been much discussion over recent weeks of the potential negative impact of higher tariffs placed on imports from […]
IATA: Air cargo demand robust in October but outlook less positive
Air cargo volumes remained robust in October as traffic was up year on year for the fifteenth consecutive month but the coming 12 months should be viewed with caution, according to IATA. The latest statistics from IATA show that in October demand in cargo tonne km (CTK) terms increased by 9.8% compared with last year, […]
Tanjung Offshore bags deals with Jadestone and IPC Malaysia
Malaysian contractor Tanjung Offshore, part of T7 Global, has won new deals from Singapore-based oil and gas firm Jadestone Energy and IPC Malaysia. Both contracts are for the provision of pan-Malaysia maintenance, construction, and modification as well as hook-up and commissioning services. The contracts have already started and will last for five years. The deal […]
China air cargo volumes up nearly 20% on 2023
China’s air cargo volumes have increased nearly 20% this year compared to last year as a result of increased international demand, according to the Civil Aviation Administration of China (CAAC). Between January and October of this year, the country’s aviation sector handled nearly 7.3m tonnes of cargo and mail, marking a 19.3% increase compared to […]