A prototype next-generation product and chemical tanker developed by Stena Bulk, the IMOFlexMax, is designed to cut greenhouse gas emissions by more than 25% compared to current modern product tankers. Designed by
Canada’s largest ocean-going bulk shipping company, privately-owned Fednav Limited, is reorganizing its shipping businesses under one management entity. It says the aim is to better align the commercial and technical units toward
The world’s largest containership, the 24,000 TEU HMM Algeciras, is now on its maiden voyage and will call at the Port of Hamburg for the first time on Sunday, June 7. The
Qatar Petroleum has signed slot reservations with the three largest Korean shipbuilders securing construction capacity for more than 100 LNG carriers valued at over $19 billion. The ships are needed to cater
Mitsui O.S.K. Lines Ltd. (MOL) and LNG Terminal Wilhelmshaven (LTW) have signed an agreement to build and charter a 263,000 cu.m LNG Floating Storage and Regasification Unit (FSRU) for the planned LNG
Vancouver, B.C., based Teekay Tankers Ltd. (NYSE: TNK) reported adjusted net income of $110 million for the quarter ended March 31, 2020, compared with $14.6 million in the first quarter of last
John Fredriksen controlled tanker giant Frontline Ltd. reported first quarter results that included net income of $165.3 million compared with $40.1 million in the same quarter of 2019. “Frontline achieved its strongest
GATX Corporation (NYSE:GATX) today announced that it has completed the sale of its American Steamship Company (ASC) business to Rand Logistics, LLC for approximately $260 million in cash proceeds, subject to customary
A.P. Moller – Maersk today reported first quarter results that Danish business daily Børsen characterized as “good numbers, grim outlook.” The company reported revenues from continuing operations of $9.57 billion compared with
Antwerp, Belgium, headquartered Euronav NV (NYSE: EURN) reports that it has sold the 2005-built VLCC TI Hellas for $38.1 million. A capital gain on the sale of approximately $1.6 million will be
