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New York-listed Greek owner Diana Shipping has locked in a 63 rate increase for one of its panamax bulkers after extending the vessel’s employment with Stone Shipping. The 2014-built, 77,529 dwt ice-class Atalandi will earn 16,500 per day, less a 5 commission, from August 5. The charter runs until at least August 1, 2027, with
Taiwanese bulker owner Wisdom Marine has dropped plans to acquire two handysize newbuildings from Japan’s Naikai Zosen after the two sides failed to reach an agreement. The Taipei-listed company approved the proposed transaction in March 2025, setting a price ceiling of 35.375m per ship and 70.75m for the 39,000 dwt pair. Wisdom said the discussions
London-listed asset manager Aberdeen Group has taken a 5.075 stake in Malaysian liner operator MTT Shipping and Logistics, becoming one of the company’s largest shareholders. Aberdeen’s Malaysian investment arm acquired 126.86m shares, worth an estimated RM123.1m (30m) based on MTT’s closing share price that day. The stake places Aberdeen alongside executive chairman Ong Kean Lee,
BW Group’s floating wind company, BW Ideol, has brought French construction group NGE into its Fos3F floating wind foundation factory project at Fos-sur-Mer, with the partners taking equal stakes in the venture. The exclusive tie-up covers the Mediterranean floating wind market and will see the companies jointly develop the planned serial production line at Marseille
The shareholders of Brazilian mining giant Vale elected lead independent director Manuel Lino Oliveira as chairman ending a boardroom struggle at one of the most important dry bulk market cargo interests Oliveira was selected to replace Daniel Stieler who resigned earlier in the month following pressure from Previ the pension fund of employees of state-controlled
DP World has confirmed plans for two major terminals on the UAE’s east coast, creating new cargo-handling capacity outside the Strait of Hormuz as war forces governments and logistics groups to redraw the Middle East’s transport map. The Dubai-based operator has reached an agreement in principle with Fujairah Ports Authority for a 50-year concession covering
Commercial shipping across the Black Sea is being squeezed from both directions as Russia steps up attacks on Ukrainian ports and vessels while Kyiv’s drone campaign forces new restrictions at Russia’s largest maritime gateways. Russia’s defence ministry said on Wednesday that its forces struck port infrastructure and ships in Odesa and Chornomorsk. It claimed a
The US does not depend on Gulf oil as it once did, yet the threat to global prices and shipping may leave Washington with little choice but to formalise its growing escort operation. Punit Oza explains. In 1987, the United States reflagged Kuwaiti oil tankers and escorted them through the Gulf under Operation Earnest Will
Yemen’s Houthi movement claimed to have struck two Saudi oil tankers in the Red Sea on Wednesday, the first attacks since the group declared a naval blockade on Saudi Arabia earlier this week and a direct test of how far it is willing to escalate. The Yemeni Armed Forces said it targeted the Encelia and
A new ocean-going shipping company has been established in Dalian as the northeastern Chinese port city seeks to retain more value from locally generated cargo and build greater control over international transport capacity. Dalian Ocean Shipping Co was formally inaugurated on July 22 under the leadership of China Dalian International Economic Technical Cooperation Group,
