Diamond S and Norden in strategic partnership

Greenwich, Conn., based Diamond S Shipping Inc. (NYSE: DSSI) and Hellerup, Denmark based Norden A/S (CPH:DNORD) have formed a strategic partnership called DiaNor. It brings together two of the world’s largest product

Stena Bulk’s next-gen product tanker aims for big GHG emission cuts

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

Fednav restructures marine division

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

Hamburg gets set to receive world’s biggest box ship

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 in $19 billion LNG carrier newbuilding deal

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

Wilhelmshaven FSRU to be built by DSME

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

Teekay Tankers reports best first quarter in ten years

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

Frontline reports strong quarter, postpones scrubber installations

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

Rand Logistics completes American Steamship acquisition

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

Maersk: “We are strongly prepared to weather the storm”

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

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