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Capricorn’s NewMed merger plan runs up against strong shareholder opposition

Certain shareholders have voiced concerns over Capricorn’s proposed merger with Israel’s NewMed, seeing it as “profoundly unfavourable.” Premium content Checking for account. You need javascript to validate your login status. Premium Premium content Subscribe to continue Become a PREMIUM Subscriber Do not want to miss out on any information about Offshore Energy? Subscribe to our …

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KOSHIPA recognition marks LR’s year of celebration in Republic of Korea

A year of celebration marking Lloyd’s Register’s (LR) 60 years of operation in Korea concluded with the organisation being ranked as the number one classification society on classification technical service by the Korea Offshore and Shipbuilding Association (KOSHIPA). This was the third year in a row that this evaluation – undertaken by eight Korean shipbuilders …

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AAL transports 20,000frt of iron ore reclaimer components on a single liner sailing for NMT in Australia

AAL’s (AALshipping.com) scheduled monthly ‘Asia to Australia West Coast Liner Service’ (AUWC) recently provided the perfect solution for global project logistics provider NMT and its client, industrial engineering giant Thyssenkrupp Industrial Solutions. The operation involved the transport of 20,000 freight tonnes of fabricated breakbulk reclaimer components from Henderson to Port Hedland in Western Australia – …

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ITIC covers US$ 94,000 in fees after Panama Canal authorities deny cancellation request

ITIC has reimbursed a ship agent US$ 94,000 after their request to cancel a slot they booked by mistake for transit through the Panama Canal was denied. The ship agent was asked by their principal to enquire whether there was space to transit through the Panama Canal on a specific date. However, the agent misunderstood …

ITIC covers US$ 94,000 in fees after Panama Canal authorities deny cancellation request Read More »

Gunvor Group extends its $1.565 billion LNG syndicated borrowing base facility

Gunvor Group, an independent trader of liquefied natural gas (LNG), has renewed its syndicated borrowing base facility to support the working capital needs of the company’s growing LNG activities globally. According to Gunvor, the syndication, signed at $1.135 billion in 2021, launched at $1.2 billion and was oversubscribed, with lenders that included more than 20 …

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Oil majors’ ‘big bet’ on hydrogen is not so big in reality as they invest 8 times more in biofuels, T&E says

While European oil majors are taking a gamble on hydrogen as the transport fuel for the future, this ‘big bet’ is not so big in reality, according to a new study on behalf of Transport & Environment (T&E), which shows that investments in biofuels refining are eight times bigger. Ricardo Energy & Environment, a global …

Oil majors’ ‘big bet’ on hydrogen is not so big in reality as they invest 8 times more in biofuels, T&E says Read More »

Euronav says litigation and arbitration on the table as it rejects Frontline’s tie-up termination

Belgian tanker shipping major Euronav believes that Frontline’s unilateral termination of the proposed $4.2 billion combination agreement announced on Monday was unfounded, the company said in an update. “Euronav has determined that Frontline’s unilateral action in pursuing the termination of the combination agreement has no basis under the terms of the combination agreement between the …

Euronav says litigation and arbitration on the table as it rejects Frontline’s tie-up termination Read More »

Descartes: Slight December Decline in U.S. Imports from November Aligns with 2019 Levels

Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, released its January report on U.S. container imports for logistics and supply chain professionals. The report shows that December U.S. container import volumes declined slightly from November to align with December 2019 levels. Port delays continue to decrease, with top …

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MOL Announces New Series Name and New Hull Color Design for LNG-fueled Car Carriers

Mitsui O.S.K. Lines, Ltd. announced that it has decided on a new series name and a new hull color design for its car carriers, which are primarily fueled by environment-friendly liquefied natural gas (LNG). MOL has ordered a total of eight 7,000-unit capacity LNG-fueled car carriers , which will be delivered in succession between 2024 …

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