Vintage VLCC prices firm up
Prices are up for vintage VLCCs as brokers predict higher rates for ships trading outside the dark fleet. Prices for vintage VLCCs went down in January. Now, VLCC pricing is firming again for reputable sales candidates, and a whopping $10m spread can be spotted in the latest sales filling up broking reports. Greek owner Eastmed […]
Wood restarts takeover talks with Sidara
UK consulting and engineering firm Wood has responded to recent media speculation regarding an approach from Dubai-based company Sidara for a possible offer for the entire issued and to be issued share capital of the company. Wood confirmed the reports on Tuesday and directed its shareholders to take no action concerning the proposal. The company […]
SeRenE and Megamas form JV to develop subsea cable vessels
Malaysia’s Semarak Renewable Energy has formed a joint venture company with Singapore-based offshore service provider Megamas Resources to develop subsea cable vessels. The new joint venture company, to be named Semarak MIS, will develop high-tech and fuel-efficient vessels for the installation and maintenance of offshore energy cables and submarine fibre optic telecommunications cables. According to […]
Petrobras cancels FPSO tender after bid deemed too expensive
Brazil’s state-owned oil and gas giant Petrobras has cancelled a tender for chartering an FPSO for the Barracuda-Caratinga revitalization project. Initially, Petrobras started the contracting process for the FPSO back in the summer of 2023 but it suffered several setbacks and postponements due to a lack of sufficient interest from floater owners. The company required a […]
BlueFloat Energy founder and CEO to step down
The chief executive officer and founder of Spanish offshore wind developer BlueFloat Energy has decided to step down from his role. BlueFloat CEO Carlos Martin Rivals revealed via social media that his time at the company has come to an end. “After careful thinking, I’ve concluded that it is the right moment to turn the […]
Florida International Terminal proceeds with investment plan at Port Everglades
Florida International Terminal (FIT) is advancing its US$25 million investment plan through 2026, following the renewal of its Port Everglades concession until 2035. In 2024, FIT made significant strides in innovation and operational efficiency to enhance its services. The investment includes cutting-edge container handling equipment from Taylor Machine Works and advanced accident prevention technology from […]
Glencar to build new manufacturing headquarters in Birkenhead Docks redevelopment
Peel Ports Group has awarded a construction contract for a new warehouse at Birkenhead Docks as part of its ongoing partnership with wood-based panel specialist Finsa UK. Construction of the 31,500 m² quayside facility at the UK’s second largest port operator’s new terminal Grandidges Quay at the port will begin later this year. The UK’s […]
Spring Valley invests US$50 million in Jafza distribution hub
Spring Valley, a home-grown agro-commodity supplier, is investing US$50 million in a new distribution hub at the Jebel Ali Free Zone (Jafza) to bolster regional food security. Covering around 10,000m², the facility will feature state-of-the-art processing and storage capabilities, including consumer packaging, roasting, and grinding operations. The first phase of the project is expected to […]
Eco-Friendly Shipping Practices: Reducing the Industry’s Carbon Footprint for a Sustainable Future
Photo by Quang Nguyen Vinh on Pexels The shipping industry has long been a cornerstone of global trade, but it’s also a major contributor to carbon emissions. As climate concerns grow, we’re seeing a shift toward more sustainable practices that aim to minimize environmental impact. From innovative technologies to greener fuels, the industry is embracing […]
Kalmar and PSA Singapore renew service agreement
Kalmar signed a service contract with PSA Singapore in the fourth quarter of 2024, covering maintenance and repair work on PSA’s cargo-handling fleet. PSA Singapore is the world’s largest container transshipment hub, handling 40.9 million TEUs in 2024. Kalmar has been one of PSA Singapore’s service providers for the servicing and maintenance of both Kalmar […]