• Flinders leads $12.6m maritime project

    Australia’s maritime industries, including shipbuilding and marine equipment, will get a major boost via the new ARC Industrial Transformation Training Centre for Biofilm Research and Innovation based at Flinders University.

  • Frontline-Euronav Agree to Share Exchange to...

    Three months after first announcing their intent to merge and after fighting off opposition from the largest shareholder, Euronav and Frontline agreed to the structure of the transaction which will create what the companies are calling “a leading global independent oil tankers owner and operator.” The companies announced that they agreed to a voluntary exchange offer for Euvonav’s shares setting a value on the combined company of more than $4 billion and using a structure to avoid further confrontation with the Saverys family that owns 20 percent of Euronav and opposes the merger.

  • NFE Sells Stake in its Fleet to Raise $1.1...

    On Tuesday, New Fortress Energy announced that it has reached an agreement to sell 11 of its LNG vessels to a new joint venture with private equity company Apollo. The deal gives NFE $1.1 billion in net proceeds - money which it can use for the development of its "Fast LNG" offshore liquefaction terminal concept. 

  • MSC Proposes $6B Investment for Transshipment...

    MSC in conjunction with the Vietnam Maritime Corporation is proposing the construction of a massive new transshipment container terminal near Ho Chi Minh City. The project, which calls for a total investment of $6 billion over the next 18 years, would support MSC’s growth and provide an alternative to Singapore, which is currently the primary transshipment terminal in Asia. It would also be part of an effort to expand the capabilities of Vietnam’s ports. 

  • First Fintech for Maritime Finance, eShipfinance.... announced the launch of Version 2. Chairman and Co-founder, Dagfinn Lunde says “I am happy to see the increased interest in our platform. The new V2 will give shipowners and investors even more possibilities as it now also caters to multiple ships financing!”

  • Performance Shipping Inc. Reports Financial...

    ATHENS, Greece, June 29, 2022 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (the “Company”), a global shipping company specializing in the ownership of tanker vessels, today reported a net loss from continuing and discontinued operations of $2.1 million and net loss from continuing and discontinued operations attributable to common stockholders of $11.5 million for the first quarter of 2022, compared to a net loss from continuing and discontinued operations and net loss from continuing and discontinued operations attributable to common stockholders of $2.9 million for the same period in 2021. Net loss from continuing and discontinued operations attributable to common stockholders for the three-month period ended March 31, 2022 included a one-time non-cash deemed dividend of $9.3 million, stemming from the exchange of shares of certain holders of our common stock for shares of Series B preferred stock at the closing of the tender offer in January 2022.


Global Energy vessel purchase just about complete

Global Energy Development announced on Monday that, further to its announcement on 16 January, the foreclosure process associated with the Transaction B Assets was now complete and the assets had been transferred to Maritime Finance.


RCL steps up port investment, this time in Penang

Penang Port will collaborate with Royal Caribbean Cruises (RCL) in a joint venture to upgrade and improve Swettenham Pier Cruise Terminal in Georgetown, Penang, to accommodate berthing of larger cruise ships at its facilities. The 60/40 joint venture will be jointly managed by both parties, with the majority stake held by Penang Port.


London: the world’s most resilient maritime centre?

Singapore has retained its title as the world’s top maritime centre in Menon Economics’ Leading Maritime Capitals of the World report for 2017.

Much of the press coverage has focused on this fact, largely overlooking the fact that London has risen from sixth place overall in 2015 to fifth place this year – despite the uncertainty of Brexit. It’s fair to say that none of the other maritime cities in the top five – Singapore, Hamburg, Oslo and Shanghai – have had to deal with such a massive economic spanner being thrown in their works. And still London has strengthened its global standing.



Crude oil prices were slightly up on Saturday (May 13) compared to the previous close.

The price of Brent oil was at $50.86 up from $50.77, and U.S. WTI crude was at $47.88 from $47.83.