CIMC Enric Holdings, the energy, chemical and liquid equipment unit of CIMC, reports RMB26.9 billion in orders on hand as at the end of March 2024, representing a significant increase of 41.9% year-on-year.
The Ministry of Energy and Infrastructure of the United Arab Emirates (UAE) and the Panama Maritime Authority (AMP) have inked a Memorandum of Understanding (MoU) giving new incentives to vessels flagged in Panama.
One of the world’s largest offshore vessel owners Tidewater has reaped the benefits of consolidation at a time when the market was in a lengthy downturn and remains hungry for more.
NYSE-listed Scorpio Tankers is in discussions to reduce its debt levels which would substantially lower its breakeven level and see it printing money.
Port of Salalah in Oman has launched a multi-modal service connecting to the Saudi Port of Jeddah as an alternative to rerouting via the Cape of Good Hope.
Diversions of container ships via the Cape of Good Hope has resulted in a continuous reconfiguration of port calls and vessel sizes on services as carriers adjust Asia to Europe loops to cope with the latest demands.
In-situ and in-workshop propeller repair capacity has been expanded at Drydocks World with enhanced fabrication, laser pitch checking and blade profiling competencies.
Norway’s Island Offshore has signed a one, option two, contract with ship designer and builder, Vard, for an ultra-flexible hybrid power DP2 ‘ocean energy construction vessel’ due for delivery in the first quarter of 2027.
The bull market in the tanker sector continues to run, two years after its beginnings in the wake of Russia’s invasion of Ukraine.
IHI Corporation, Hokkaido Electric Power, Hokkaido Mitsui Chemicals, Marubeni Corporation, Mitsui & Co. and Tomakomai Futo have started a joint study to set up an ammonia supply chain.