Finance & Insurance

One of the UK’s last blue-chip ship operating companies, P&O Ferries, has announced that the continued downturn in its business due to the pandemic will oblige it to make redundant up to 1,100 employees, the same number as it furloughed under the...

The Brazilian Ministry of Infrastructure has signed a contract with the National Bank for Economic and Social Development (BNDES) to carry out studies on new management and development models for the Port of Santos and the Port of San Sebastian...

Ship agency GAC Singapore has suspended cash to Master payments due to a shortage of physical notes.

Since March LNG players have postponed Final Investment Decisions (FID) on at least 74m tonnes of liquefaction projects beyond 2020 due to the COVID-19 pandemic, according to Poten & Partners.

China Development Bank Leasing has entered into three newbuilding contracts at a total cost of $417.6m for the construction of eight bulk carriers with three Chinese shipyards.

There is an old joke among industry insiders that goes something like: “When your local barber starts asking you about which tanker stock to buy, you know that the easy money has already been made.”

Japan’s Mitsui OSK Lines (MOL) has finalised agreements with leading commercial banks to draw on approximately JPY140bn ($1.3bn) in case of potential cash flow issues due to the coronavirus (COVID-19) global outbreak.

Willis Towers Watson, a global advisory, broking and solutions company, has unveiled a new type of cyber insurance product for shipowners that re-designs standard cyber policies to better navigate the risks for ship operators in the digital era.

The South Korean government has pledged a hefty KRW1.25trn ($1bn) to support the country’s ailing shipping industry severely impacted by the coronavirus (COVID-19) outbreak.

The Singapore authorities have sought to reassure businesses that there is “no serious impact” on the bunkering and oil trading sectors from the bankruptcy filing of major local player Hin Leong Trading.