Wallenius Wilhelmsen reported an adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $1.8 billion for 2025. Net profit for the year reached $1.1 billion, an increase from the $1.065 billion recorded during 2024. Lasse Kristoffersen, President and Chief Executive Officer of Wallenius Wilhelmsen, noted the team delivered a strong financial result and extended […]

Libya on Wednesday awarded oil and gas exploration blocks to foreign oil companies, including Chevron, Eni, QatarEnergy and Repsol, in its first licensing round in nearly two decades as it seeks to revitalise the sector despite ongoing political division. The National Oil Corporation announced the winners of its first bid round since 2007, allocating key […]

Management at a Russian-owned oil refinery in Germany have privately warned Berlin that US sanctions are hurting its business and threatening fuel supply for the country’s capital and the region, according to correspondence seen by Reuters. In a January letter, management of the PCK Schwedt refinery, controlled by Rosneft, made an “urgent appeal” to economy […]

The slow-moving prosecution of the master of the Hong Kong-registered containership NewNew Polar Bear took its next step on Wednesday, February 11. Captain Wan Wenguo officially entered a plea of not guilty in a Hong Kong court to the charges that his vessel, in October 2023, damaged telecom cables and a gas pipeline in the […]

Ultra-low-sulphur diesel loadings from the Russian port of Primorsk may fall about 17 per cent month-on-month in February to 1.7 million tonnes, as lower fuel output and harsh Baltic weather disrupt supplies, data from traders, LSEG and Reuters calculations showed on Wednesday. Last month, exports via Primorsk, Russia’s largest outlet for ultra-low-sulphur diesel shipments, jumped […]

Icelandic aquaculture firm Arctic Fish reported that quarterly harvest volumes reached 4,229 tonnes in the final three months of 2025. This figure represents an increase of 22 per cent compared to the 3,456 tonnes recorded during the same period in 2024. The company stated that total harvest volumes for the full year reached a record […]

Accelleron, a leading provider of turbocharging, fuel injection, and digital solutions for marine engines and ships, recently released a study on the multifaceted, multi-industry challenges slowing shipping’s transition to carbon-neutral fuels. TME recently spoke with CEO Daniel Bischofberger about the current state of marine decarbonization, regional developments in Asia-Pacific, and the path forward for the […]

The U.S. Coast Guard completed the second tranche of its shipbuilding effort for the new Arctic Security Cutter program, awarding a contract to the U.S.-based subsidiary of Davie for five additional cutters. The order comes almost two months after the U.S. Coast Guard completed a similar order for six Arctic Security Cutters with Bollinger and […]

Turkish President Tayyip Erdogan will host Greek Prime Minister Kyriakos Mitsotakis on Wednesday for talks likely to focus on illegal migration and longstanding maritime disputes, as the NATO allies and historic rivals try to build on warming ties. 15 illegal migrants died in a shipwreck off the Greek island of Chios last week after their […]

The Philippine foreign ministry urged the Chinese Embassy in Manila on Wednesday to be “constructive” in its statements amid an escalating war of words between Chinese diplomats and public officials, including senators. The Department of Foreign Affairs’ newly appointed maritime affairs spokesperson, Rogelio Villanueva, said that responses should be delivered in a “calm” and “professional” […]