Business

Philippine authorities have been conducting a comprehensive search of the waters off Occidental Mindoro province after a fishing boat was reported missing here earlier this week. The outrigger boat identified as MJ2 had sailed out of Lian in nearby Batangas province at around 16:00 local time on Sunday, February 8. The boat was expected to […]

Jinhui Holdings signed two shipbuilding contracts on February 11 to acquire two bulk carriers for a total of $68 million. These vessels will be constructed by Chinese shipyards Sumec Marine and New Dayang Shipbuilding. Each vessel carries a contract price of $34 million, which will be paid in five instalments. The group specified that both […]

Euroseas announced on that it has secured a new time charter contract for its feeder containership, EM Spetses. The 2007-built vessel has a capacity of 1,740 TEU and a deadweight tonnage of 23,224. It will be employed for a minimum period of 22 to a maximum period of 24 months. The agreement is set at a […]

“After extensive review, we have determined that this transaction is in the best interests of Great Lakes’ shareholders as it delivers immediate and certain value at a premium to the company’s all-time high valuation,” explained Lawrence R. Dickerson, Chairman of the Great Lakes board of directors. Following the successful completion of the tender offer, Saltchuk […]

Following the acquisition, one vessel is expected by Tufton to begin a fixed-rate charter for 11 to 13 months with a leading commodity trader. The company stated this charter is expected to provide a net yield of approximately 12 per cent. The second vessel will commence an index-linked time charter with another commodity trader, according […]

TGS has commenced a multi-client 2D seismic survey in the ultra deepwater areas offshore Angola. The project, which covers approximately 12,600 line kilometres, saw the vessel Ramform Victory begin operations earlier in the first quarter of 2026. Data acquisition is estimated by TGS to be completed in approximately 100 days. The company expects fast-track products […]

Trump mulls sending second aircraft carrier On Tuesday, US President Donald Trump said he was considering sending a second aircraft carrier to the Middle East if a deal is not reached with Iran, even as Washington and Tehran prepared to resume talks. US and Iranian diplomats held indirect talks last week in Oman, amid a […]

Italy’s cabinet approved a bill on Wednesday authorising naval blockades to halt illegal migrant boats during periods of “exceptional pressure” at the country’s borders, a government source said, further tightening measures against illegal arrivals. Since taking office in late 2022, Prime Minister Giorgia Meloni has moved to speed up repatriations of unsuccessful asylum seekers and […]

Most of the 15 Afghan illegal migrants who were killed off the Greek island of Chios last week when their dinghy collided with a coast guard vessel died of head injuries, not from drowning, autopsy results seen by Reuters show. A criminal investigation has been opened into the February 3 collision – one of Greece’s […]

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 […]