Search results for: race bank

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A list of search results

  • Report: Dongwon and Harim dueling for dominance in HMM bidding race

    24 November 2023
    Business & Finance, Business Developments & Projects, Green Marine, Market Outlooks, Outlook & Strategy, Vessels

    In the ongoing contest for control of South Korean shipping line HMM, Dongwon Group and Harim Group have emerged as the primary contenders, narrowing down the field in this maritime competition. Previous reports indicated that four companies from South Korea were in the bidding race including, SM Group, LX Holdings, Dongwon Group, and Harim. German […]

  • Hyphen partners with DBSA to fund Namibian green hydrogen project

    25 October 2023
    Business & Finance, Business Developments & Projects

    Hyphen Hydrogen Energy and the Development Bank of Southern Africa (DBSA) have partnered up for a funding facility to be used to advance the development of Hyphen’s green hydrogen project in Namibia. According to Hyphen, the Project Preparation Facility from the DBSA will go towards the partial funding of engineering, environmental, and socio-economic development workstreams […]

  • Höegh Autoliners obtains new $720M loan for Aurora newbuilds, ship purchase

    9 April 2024
    Business & Finance, Business Developments & Projects

    Höegh Autoliners has secured new and long-term financing for all its existing bank debt, the purchase of two vehicles carriers as well as four of the LNG-powered Aurora newbuilds.

  • ‘World’s largest tidal scheme’ takes next step toward realization

    18 March 2024
    Business & Finance, Business Developments & Projects, Operations & Maintenance, Project & Tenders, Technology

    Liverpool City Region’s Mayor has presented the UK’s “first of a kind” barrage scheme between Wirral and Liverpool for the city region’s flagship Mersey Tidal Power project. Said to have the potential to become the “world’s largest” tidal scheme, the Mersey Tidal Power project would potentially create thousands of local jobs, bringing economic and resilience […]

  • COP28: Sketching decarbonization roadmap with phase-out of fossil fuels as the centerpiece to get global net-zero efforts on track

    13 November 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Outlook & Strategy, Project & Tenders, Regulation & Policy, Transition

    COP28 is seen as a beacon of hope to devise a transformational roadmap in a bid to get the global energy transition undertaking on track.

  • Blue Mediterranean Partnership gains momentum with €1 billion investment pledge at COP28

    5 December 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Collaboration, Environment, Green Marine, Outlook & Strategy, Project & Tenders, Regulation & Policy, Rules & Regulation

    The Blue Mediterranean Partnership, a collaborative initiative aimed at fostering a sustainable blue economy in the Mediterranean region, has received a substantial boost with key stakeholders, donors, and beneficiary country representatives signing a letter of intent at COP28, vowing to make the partnership operational in early 2024. The cooperation deal marks a significant step towards […]

  • Offshore wind: Both challenges and enormous opportunities lie ahead

    8 January 2024
    Authorities & Government, Business & Finance, Business Developments & Projects, Environment, Innovation, Market Outlooks, Outlook & Strategy, Project & Tenders, Regulation & Policy, Rules & Regulation, Transition, Vision

    The offshore wind industry has faced significant headwinds in the past couple of years, with most of the negative effects tracing their origin back to the start of the COVID-19 pandemic and the geopolitical turmoil caused by Russia’s aggression against Ukraine. This has led to supply chain instability and cost inflation which has resulted in […]

  • Parker: Shipping financing will not be the same

    19 October 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Collaboration, Green Marine, Infrastructure, Innovation, Market Outlooks, Outlook & Strategy, Ports & Logistics, Regulation & Policy, Rules & Regulation, Transition, Vessels

    Green corridors are likely to transform the realm of shipping finance as the focus shifts from emissions from ships to the entire supply chain, according to Michael Parker, Chairman of the Poseidon Principles. Parker spoke on a panel on Wednesday as part of the launch of Progress Toward Shipping’s 2030 Breakthrough report from UMAS, Getting […]

  • Saipem hit with two-year suspension of public contracting activity in Brazil

    15 January 2024
    Authorities & Government, Business & Finance, Business Developments & Projects, Project & Tenders, Regulation & Policy, Rules & Regulation

    Saipem is facing restrictions on new contracts in Brazil due to being banned from making new deals with the country’s public administration over the next couple of years.

  • KfW IPEX-Bank funds C. Armateurs’ eco-friendly bulkers

    2 April 2024
    Business & Finance, Business Developments & Projects, Infrastructure, Vessels

    Germany’s KfW IPEX-Bank has decided to support the fleet modernization of Switzerland-based shipping group C. Armateurs, part of the Cobelfret group, with a financing of €42 million.

  • 500-day assignment in UK lands on Dolphin Drilling rig’s worklist

    25 December 2023
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    Dolphin Drilling has inked a letter of intent (LOI) for a long-term drilling program, enabling one of its semi-submersible rigs to carry operations in the UK with an undisclosed operator.

  • Clarksons: 2023 a positive year for shipping as China delivers 50% of shipbuilding output

    5 January 2024
    Business Developments & Projects, Green Marine, Market Outlooks, Outlook & Strategy, Transition, Vessels

    Seaborne trade has witnessed a notable uptick in 2023, registering a 3% increase to a $12.4 billion, according to data from Clarksons Research. The global maritime landscape further unveils a 3% growth in the world fleet, reaching an 2.3 billion deadweight tons (dwt). Despite this expansion, the newbuilding orderbook demonstrates a measured 3% year-on-year increase, […]

  • US oil & gas firm expanding its Gulf of Mexico footprint with $1.29 billion acquisition

    16 January 2024
    Business & Finance, Business Developments & Projects, Exploration & Production

    Houston-based Talos Energy has set the wheels into motion to get its hands on QuarterNorth Energy, a privately-held U.S. Gulf of Mexico firm.

  • Seatrium delivers 12,000 cbm Brassavola for LNG bunker services in Singapore

    29 January 2024
    Business Developments & Projects, Green Marine, Infrastructure, Vessels

    Brassavola, a 12,000 cubic meter LNG bunker vessel set to be deployed in the Port of Singapore, has been delivered to Indah Singa Maritime, a wholly-owned subsidiary of Mitsui O.S.K. Lines (MOL). The bunker vessel was built by Singapore’s Seatrium, previously known as Sembcorp Marine, which announced the delivery via social media on January 29. […]

  • AET gets shipping’s first sustainability-linked Islamic RCF in South Asia

    6 December 2023
    Business & Finance, Business Developments & Projects, Outlook & Strategy

    Maybank Singapore has extended a $100 million sustainability-linked Islamic revolving credit facility (RCF-i) to AET, a Singapore-based petroleum logistics unit of Malaysian energy logistics group MISC Berhad.

  • World’s first ammonia-powered PCTCs get financial boost

    6 March 2024
    Business & Finance, Business Developments & Projects, Innovation, Vessels

    Norwegian RoRo shipping company Höegh Autoliners has been granted substantial million-dollar funding from local government enterprise responsible for the promotion of environmentally friendly production Enova for the construction of the world’s first ammonia-powered PCTCs.

  • Singapore’s 1st fully electric cargo vessel, the Hydromover, hits the water

    23 November 2023
    Business Developments & Projects, Green Marine, Vessels

    The Goal Zero Consortium, comprising companies such as SeaTech Solutions International (S), Shift Clean Energy, and Yinson GreenTech, has launched Singapore’s first fully electric cargo vessel, the Hydromover. The milestone launch was revealed by the CEO of the Maritime and Port Authority (MPA) of Singapore, Eng Dih Teo, saying that more electric vessels are expected […]

  • MOL to fund construction of dual-fuel VLCC through sustainable financing

    3 April 2024
    Business & Finance, Business Developments & Projects, Vessels

    Japanese shipping company Mitsui O.S.K. Lines (MOL) has signed a deal to raise funds through transition-linked loan (TLL) financing with Sumitomo Mitsui Trust Bank for the construction of a dual-fuel very large crude carrier (VLCC).

  • Samsung Heavy Industries taps GTT for tank design of 15 new LNGCs

    27 February 2024
    Business Developments & Projects, Collaboration, Outlook & Strategy, Vessels

    French LNG containment specialist GTT has received an order from its partner, the Korean shipyard Samsung Heavy Industries (SHI), for the tank design of 15 new liquefied natural gas carriers (LNGCs). According to GTT, the order was received in early 2024 on behalf of a “leading” LNG player. GTT will design the tanks of these […]

  • NYK CEO warns: Post-cold war international order unsustainable, signalling uncharted waters ahead

    5 January 2024
    Authorities & Government, Business Developments & Projects, Green Marine, Market Outlooks, Outlook & Strategy, Regulation & Policy, Safety, Transition, Vessels

    The maritime industry stands at the nexus of geopolitical intricacies, grappling with unprecedented challenges that demand astute navigation and strategic foresight. The latest attacks in the Red Sea against merchant ships come on the back of a series of black swan events, each more intricate and challenging than the last. The pervasive impact of the […]

  • Maersk reveals 10,000 job cuts amidst profit plunge and industry’s ‘new normal’

    3 November 2023

    Danish container shipping giant A.P. Moller-Maersk unveiled this morning a further downturn in both profit and revenue, resulting in a decision to cut 10,000 jobs as a response to the ongoing challenges of declining freight rates and lackluster demand within the container shipping industry. Despite these challenges, Maersk affirmed its full-year guidance for revenue and […]

  • European ministers urged to streamline renewable hydrogen financing

    20 November 2023
    Authorities & Government, Business & Finance, Business Developments & Projects, Outlook & Strategy, Regulation & Policy

    In a joint letter, CEOs from the Renewable Hydrogen Coalition (RHC) have urged European Ministers of Finance to streamline financing to renewable hydrogen and electrolyzer manufacturing capacity within Europe and allocate national budgets to the European Hydrogen Bank. According to the CEOs, the critical first wave of European renewable hydrogen projects is very close to […]

  • With tie-back to Gulf of Mexico platform expected by year-end, oil & gas pair coming on stream ahead of schedule

    8 December 2023
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    Talos Energy has changed the timeline for the start of production from two oil and natural gas deepwater discoveries in the U.S. Gulf of Mexico.

  • WATCH: ARO Drilling and IMI hold naming ceremony for first of 20 planned newbuild jack-up rigs

    10 November 2023
    Business & Finance, Business Developments & Projects, Exploration & Production, Project & Tenders

    ARO Drilling and International Maritime Industries held a naming ceremony for the first Saudi-operated and manufactured offshore jack-up rig.

  • Flex LNG eyes ‘more attractive’ deal for Flex Constellation as current charter comes to an end

    8 January 2024
    Business & Finance, Business Developments & Projects, Green Marine, Infrastructure, Outlook & Strategy, Vessels

    LNG shipping company Flex LNG will take redelivery of the 2019-built Flex Constellation as the carrier’s current charterer, a trading house, has decided not to exercise its extension option. Flex Constellation was fixed on a three-year time charter on May 17, 2021, with an option to extend the period by up to three years. The […]