The finance is aimed at supporting the South Korean government’s five-year plan for rehabilitating the maritime sector.
Marseilles-based CMA CGM said the two groups had also agreed to work together on ‘joint commercial offerings’. It gave no details, however, indicating only that they would be defined over the next few months.
Patrick Daniel has been appointed to the board of SembMarine following the retirements of Ajaib Haridass and Lim Ah Doo.
A first-quarter loss of SGD23 million (USD17.5 million) has kept Keppel O&M firmly in the red, but the company sees green shoots of recovery.
Despite growing East–West tensions, Singapore’s highly skilled workforce and geographical location make it an ideal place for shipowners to continue to do business
Tor A Svelland calculates that it makes financial sense for many owners to install scrubbers rather than switch to low-sulphur fuel.
The US Bankruptcy Court for the Southern District of Texas approved the plan, just a week after the plan had received near-unanimous support from the company’s stakeholders.
Zhongji International Shipping, once part of Grand China Logistics, has sold its entire two-tanker fleet.
Another profitable year for Nord LB is expected, despite shipping costs weighing heavy on results.