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South Asia–Europe freight rates adjust as carriers look to reinforce pricing floor

In the last few weeks, two major carriers have announced a new round of rate adjustments on the South Asia-Europe trade lanes, highlighting efforts to recalibrate pricing in markets that are facing uneven demand, cost pressure and overcapacity. The updates from leading liners, Hapag Lloyd and MSC, indicate renewed attempts to reinforce rate floors on …

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Wärtsilä to further expand its production capacity in Finland by 35% to meet global increase in demand in energy and marine

Technology group Wärtsilä will invest approximately EUR 140 million to further expand its production capacity by 35% at its technology centre, Sustainable Technology Hub (STH) in Vaasa, Finland and associated global supply chain. This expansion will increase Wärtsilä’s industrial capacity and strengthen the capacity of the associated global supply chain, positioning Wärtsilä to meet growing …

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Stena Drilling ups GHG abatement ante as 2024-built drillship gets DNV’s notation

Scotland-headquartered offshore drilling contractor Stena Drilling has received DNV’s Abate (P+) notation for one of its drillships, underscoring the rig owner’s efforts to cut greenhouse gas (GHG) emissions across its operations. The post Stena Drilling ups GHG abatement ante as 2024-built drillship gets DNV’s notation appeared first on Offshore Energy.

Stephenson Harwood LLP advises Hellenic Dry Bulk Ventures on the sale of vessels to Bangladesh Shipping Corporation

Law firm Stephenson Harwood LLP has advised Hellenic Dry Bulk Ventures LLC on the sales of two bulk carrier vessels to Bangladesh Shipping Corporation (BSC). Hellenic Dry Bulk Ventures LLC is a US-based shipping company. Established in 1972, BSC is Bangladesh’s state-owned shipping corporation and is central to Bangladesh’s maritime trade, handling key bulk operations …

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Drilling yields ‘non-significant’ gas shows, next Black Sea well to be spud soon

Southeastern Europe’s integrated energy player OMV Petrom and NewMed Energy Balkan, a subsidiary of Israel’s NewMed Energy, which have drilled a dry hole in the Bulgarian sector of the Black Sea, are weeks away from drilling another well. The post Drilling yields ‘non-significant’ gas shows, next Black Sea well to be spud soon appeared first on …

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