Maersk Reports $5.7b Drop In Q1 Profit

Maersk Reports $5.7b Drop In Q1 Profit

Danish container shipping major Maersk has reported a massive drop in its ocean revenue for the first quarter of this year, plunging by $5.7 billion to $9.9 billion year-on-year amid lower freight rates and softened demand. Last year saw a...
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Shipping Firm Receives World’s Largest Liquefied Gas Carrier

Shipping Firm Receives World’s Largest Liquefied Gas Carrier

Jiangnan Shipbuilding, a subsidiary of China State Shipbuilding Corporation, has delivered the world’s largest Very Large Liquefied Gas Carrier (VLGC) to Singapore-based shipping and trading company Petredec. According to World Maritime News, this marks a si...
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Brazil, Luxembourg Join International Chamber Of Shipping

Brazil, Luxembourg Join International Chamber Of Shipping

The International Chamber of Shipping (ICS), representing over 80% of the world’s merchant fleet, has announced FEDIL Shipping, Luxembourg and the Brazilian Association of Cabotage Owners as affiliate members of the associations.  FEDIL Shipping acts as...
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Maersk, MSC Terminate Alliance  

Maersk, MSC Terminate Alliance  

Container shipping giants, MSC Mediterranean Shipping Company (MSC) and Maersk A/S, an entity under A.P. Moller – Maersk, have agreed to terminate the 2M alliance, effective in January 2025.   2M is a container shipping line vessel sharing agr...
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Hyundai Heavy Industries Group Changes Name

Hyundai Heavy Industries Group Changes Name

Hyundai Heavy Industries Group has changed its name to HD Hyundai, the company said in a regulatory filing.  According to Korean media reports, the name change coincides with the 50th anniversary held in Seongnam, Gyeonggi Province, which served as the...
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Maersk CEO Steps Down

Maersk CEO Steps Down

The Chief Executive Officer (CEO) of A. P. Møller – Mærsk A/S (Maersk), Soren Skou, who has led the  transformation of the company from a diversified conglomerate to an integrated logistics company, is retiring.  Vincent Clerc, currently CEO...
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<strong>TotalEnergies Joins Zero-Emission Shipping Coalition</strong>

TotalEnergies Joins Zero-Emission Shipping Coalition

TotalEnergies has joined the Castor Initiative, a multinational coalition committed to making zero-emission shipping a reality, to support the uptake of ammonia as a green fuel and the development of ammonia-powered tankers.  The global coalition, which inclu...
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Maersk Seeks End Date For Fossil Fuels In Shipping

Maersk Seeks End Date For Fossil Fuels In Shipping

The only way to lower greenhouse gas emissions in shipping and entice companies to set zero-emission targets in the sector is by setting an end date for fossil fuels in the shipping industry through a global regulation, Maersk’s Chief Advisor...
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Grimaldi Secures Order For Five Car Truck Carriers  

Grimaldi Secures Order For Five Car Truck Carriers  

The Italian shipping company Grimaldi Group has signed an order for the construction of five new Pure Car Truck Carriers (PCTCs) with China Merchants Heavy Industries Jiangsu, which is part of China Merchant Industry Holdings. According to World Maritime ...
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Nigeria Unveils Agenda For Zero Carbon Emission For Shipping By 2050

Nigeria Unveils Agenda For Zero Carbon Emission For Shipping By 2050

To attain net zero carbon emission for shipping by 2050 in line with the policy of the International Maritime Organization (IMO), the Nigerian Government has rolled out more proactive measures.   Speaking in Lagos on Thursday at the 20...
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Nigeria Joins IMO On Greener Shipping For Sustainable Shipping

Nigeria Joins IMO On Greener Shipping For Sustainable Shipping

Nigeria is committed to achieving greener shipping in line with the campaign by the International Maritime Organization, IMO, to attain sustainable development in the maritime industry, the Minister of Transportation, Mu’azu Sambo, has declare...
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WISTA Seeks More Women’s Involvement In Shipping

WISTA Seeks More Women’s Involvement In Shipping

The Women’s International Shipping and Trading Association (WISTA) Nigeria, on Thursday, said that it would build its members’ capacity to be able to take advantage of innovations and technologies in shipping. Speaking on Thursday in Lagos, the Preside...
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Shippers Council Boss: Ship Operators Adopting Green Shipping

Shippers Council Boss: Ship Operators Adopting Green Shipping

Ship operators are adopting green shipping aimed at reducing greenhouse gas emissions, the Executive Secretary, Nigerian Shippers’ Council (NSC), Mr Emmanuel Jime, said on Wednesday at the 2022 Lagos International Maritime Week (LIMW).  The week had the...
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Shipping Firm Seals LNG Carriers Deal With China’s ENN

Shipping Firm Seals LNG Carriers Deal With China’s ENN

Japanese shipping heavyweight, Mitsui O.S.K. Lines has signed a long-term charter contract for three new building LNG carriers with ENN LNG (Singapore) Pte., a wholly-owned subsidiary of Chinese ENN Natural Gas. The vessels will be constructed at Hudong-Zhongh...
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