Chinese shipping group COSCO recorded net profits from container shipping activities of USD 20.3 bn for 2022，with junior partner OOCL generating nearly half of that figure. At group level, revenues rose from USD 50.8 bn to USD 57.1 bn in

Orient Overseas Container Line (OOCL) announced that its total revenues dropped by 57.8% to approximately US$2.2 billion in the first quarter of 2023, compared to the same period in the previous year. Additionally, the COSCO-owned container

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. REUTERS/Issei Kato Asian spot liquefied natural gas (LNG) prices remained flat this week at the lowest level s

Technology group Wrtsil has launched a new Fast Recovery tool that will ensure customers business continuity in the event of a software-related incident. The system will enable customers to reduce reputational and financial damages, minimis

Shipowners and maritime regulators should aim for significant improvement in energy efficiency and cut fuel consumption by 2030 to align with the Paris Agreements climate goal to limit global warming above 1.5 degrees Celsius above pre-indu

China regained the top spot in shipbuilding orders in March, beating archrival South Korea and with 39% of the global orders. According to data released by Clarkson on Friday, China ranks first in the world with a market share of 39% (950,0

Market sentiment turned positive for the first time since September 2022, as theShanghai Containerized Freight Index (SCFI)recovered mildly in the week ended 2 April, according to Linerlyticas latest report. The rebound was supported by imp

Dalian Shipbuilding (DSIC), a subsidiary of China State Shipbuilding Corporation (CSSC), has begun the construction of the 10th LNG-powered 16,000 TEU container ship for the Swiss shipping line Mediterranean Shipping Company (MSC). Works on

One of the worlds leading container terminal operators, APM Terminals, part of A.P. Moller - Maersk, has announced the expansion of its Maasvlakte II terminal in Rotterdam. The project involves a site of approximately 47.5 hectares with 1,0

EAGLE-ACCESS (EA), the Dutch developer of a new generation of offshore access systems, is introducing its state-of-the-art Eagle-Access Academy for practical on-site simulator training purposes and demonstrations. Centerpiece of the Academy

Senior leaders from International Registries, Inc. and its affiliates (IRI) visited with the Korean maritime community this week, underscoring their continued commitment to the local maritime market. IRI President, Bill Gallagher and Chief

Korean Register (KR) has released the latest updated version of KR-CON (v.21), its comprehensive digital database of almost all the International Maritime Organizations (IMO) instruments. With continued success since its launch in 2000, KR-

Shipping through Uncertainties By Mr Jianjun Wang for Hong Kong Shipowners Association Analyst Luncheon with Guest of Honour. Date : Wednesday, 19 April 2023 Time : 11:45am cocktail reception 12:30pm lunch 13:30pm analyst talk Venue : Oasis

In a bid to gain competitiveness in the global hydrogen fuel cell-powered vessel market, South Korea has revised standards for the construction of ships equipped with a clean energy drive system. Global shipbuilders are trying hard to devel

The Baltic Exchanges main sea freight index, tracking rates for ships carrying dry bulk commodities rose for third-straight session on Wednesday, aided by higher rates for bigger vessel segments, largely panamax. The overall index, which fa