Japanese company Mitsui O.S.K. Lines (MOL) – one of the world’s largest shipping companies - is set to focus on developing ships that run on liquefied natural gas (LNG), ammonia and hydrogen in order to hit its 2050 net-zero goal.
AP Moller Maersk will launch the world’s first carbon neutral liner vessel in 2023, seven years ahead of its 2030 target.
Trafigura has called for a new levy on marine fuels in order to reduce carbon emissions in the shipping sector.
More than a dozen countries with crucial global shipping hubs agreed to ease port and border restrictions for seafarers to help the more than 200,000 workers still stranded on vessels return home.
Two cyber campaigns have been identified that have been highly focused on particular parts of the oil and gas industry, using the same spyware Trojan, by security company Bitdefender.
Higher insurance premiums for maritime work in the Indian Ocean is out of step with reality, according to Dryad Global’s annual report.
A defining moment in the history of the oil-refining and shipping industries is at hand.
The shipping industry is waking up to the value of hybrid machinery systems for a variety of vessels.
Offshore vessel contractors are caught in the midst of “worrying times” with more than a quarter of the fleet laid up and reactivation costs high, new research shows.
Qatar has begun shipping cargo through Oman to bypass Gulf countries that have cut off sea routes to the tiny, energy-rich nation, the latest move by Doha to show it can survive a diplomatic dispute with its neighbours.
Jobs on UK-flagged ships are going to non-UK residents even though thousands of officers from this country are out of work, according to a report.
Footage has emerged online showing a 'rogue' wave hitting a shipping tanker as it sails through the Bay of Biscay in the Atlantic.
Norwegian shipping giant Farstad has won a number of charter contracts for its fleet.
Norwegian firm Rieber Shipping fell into the red in the second quarter as work for its fleet dried up.
Shipping services giant Clarksons warned on profits yesterday, saying its 2006 performance would be “materially lower” than last year.
A Norwegian freight firm has shut its offices in Aberdeen and established a partnership with another firm to run the services previously offered.
Shipping firm GC Rieber has more than doubled its deficit for 2015 compared with the previous year, with the failure of Dolphin Geophysical playing a part in the poor peformance.
Maersk Line plans to reduce its headcount by an estimated 4,000 staff members in a bid to adapt to the changing market place. The company said it was making the move on the back of a lower outlook for the global shipping market. Maersk said it would help “simplify the organisation”.
A.P. Moeller-Maersk cut its profit outlook for 2015 citing a weaker global container shipping market. The owner of the world’s biggest shipping line said it now sees underlying profit of about $3.4 billion, compared with a previous forecast for $4 billion, according to a statement to the stock exchange on Friday. “Particularly the container shipping market deteriorated beyond the Group’s expectations especially in the latter part of the third quarter and October,” the company said. “The Group now expects no market recovery within 2015. Initiatives have been taken to adjust Maersk Line’s network accordingly.”
Shipping and logistics companies reported delays and disruptions after the deadly blast at the Chinese port of Tianjin as some oil cargoes were still barred from one of its wharves. Freight companies including Auckland, New Zealand-based Mainfreight Ltd. and Japan’s Sankyu Inc. said the blast will cause delays or impact their businesses. Ships at Tianjin Port’s North wharf other than those carrying crude and hazardous products can enter and exit normally, according to a post from the official microblog of the Tianjin Maritime Safety Administration at 10:44 a.m. local time Friday. Tianjin is the 10th-busiest container port globally and has become a northern gateway for ore, coal, automobiles and oil into China, the world’s biggest user of energy, metals and grains. About 17 percent of the nation’s ethylene imports, 15 percent of its wheat deliveries and 30 percent of steel exports in the first half of 2015 were transported via the Tianjin customs area, government data show.
A ban on 113 oil tankers by Nigerian state oil company NNPC must be lifted immediately as no grounds have been given for the measure, the global oil tanker industry association said in a letter of protest.
The UK government has caused uncertainty with its ‘panicked, last minute’ referendum tactics, the chief executive of the UK Chamber of Shipping has claimed. Guy Platten will claim Scottish business has been left vulnerable by the methods used by the Better Together campaign to win the Scottish referendum two months ago. He describes the devo-max plans outlined by Westminster as being written on the ‘back of a fag packet’.