The wave of consolidation among container lines will continue in order to provide greater benefit to shippers and the industry, as it is seen as a crucial step towards recovery.
Frontline has turned to the authorities in the Marshall Islands, the domicile of DHT Holdings, which Frontline is attempting to acquire, to neutralise a 'poison pill' DHT has in place to block a takeover.
SanThis is the second order sangji has placed this year, the first being with Hyundai Mipo Dockyard in January.
The ships will be operated by the Gothia Tankers Alliance which has a series of product tankers already, as well as a further 15 coastal tankers ranging from 6,000 to 8,000 dwt.
The decision was taken after Exmar failed to get approval for the deal from one of its joint venture partners in the business.
South Korean shipbuilder DSME recorded a KRW261 billion (USD230 billion) net profit for the first quarter of 2017, recovering from a KRW3.4 billion net loss in the same period in 2016.
Nanjing Port Group profit for the first quarter of 2017 surged 258.93% year-on-year to CNY21.02 million (USD3.05 million)
Hyundai Heavy Industries, the world’s largest shipbuilder today reported first quarter net profit of USD409 million, with operating profits buoyed by the business divisions, job cuts, and increased sales in the shipbuilding business.
Maersk Line is setting up separate internal IT and digital divisions as part of a range of measures to speed up the digitalization of shipping processes and the products and services offered to customers.
Korea Shipbuilding & Offshore was officially inaugurated in the port city of Busan yesterday as part of the government’s scheme to rejuvenate the country’s struggling shipping lines.