Business

Danish shipping company Maersk said on Monday it had signed an order for eight large container vessels to be built by China’s New Times Shipbuilding, for delivery in 2029 and 2030. The 18,600 TEU vessels will be equipped with dual-fuel engines able to operate on conventional bunker fuel or liquid gas, Maersk said in a […]

HD Korea Shipbuilding and Offshore Engineering reported a full-year operating profit of KRW3.9045 trillion ($2.8922 billion) for the 2025 fiscal year. This figure represents a 172.3 per cent increase compared to the previous year, according to a company earnings report released on February 9, 2026. The shipbuilding group achieved annual revenue of KRW29.9332 trillion, marking […]

New Zealand has shortlisted contractors to build a liquefied natural gas (LNG) import facility to boost energy security, provide a reliable backup power source and support economic growth, Energy Minister Simon Watts said on Monday. The government aims to sign a contract by the middle of this year for an import facility in Taranaki, on […]

India’s state refiners Indian Oil Corporation and Hindustan Petroleum Corporation have together bought two million barrels of Merey crude from Venezuela for delivery in the second half of April, two trade sources aware of the deal said. The crude will be carried on a single very large crude carrier with IOC taking about 1.5 million […]

But, again, the market does not know. This opacity has become a major blind spot for the oil market and has altered the way rising storage levels are interpreted. Historically, oil prices have closely tracked inventory changes in Organisation for Economic Co-operation and Development countries, particularly the US and Europe, which long dominated global demand. […]

Bhagwan said Riverside is forecasting FY26 revenue of AU$63 million (US$44 million) and gross operating profit of AU$26 million (US$18 million). Among other things, the acquisition will ensure further diversification across services including third-party vessel operations, harbour tugs, sand dredging and commercial ferries; give Bhagwan an established presence in North Queensland, with additional operations in […]

Austal Philippines has begun construction of a new high-speed, hydrogen-ready ferry ordered by Swedish transport company Gotlandsbolaget. Upon completion, Horizon X will measure 130 metres long and will be able to carry up to 1,500 passengers plus 400 vehicles and other cargo. The ferry will operate on multiple fuel types in addition to hydrogen. The […]

Other oil executives allegedly paid for flights on private jets for Ms Alison-Madueke to destinations, which prosecutors claim included Vienna, Hamburg and Doha, with each flight costing tens of thousands of dollars, allegedly. The court also heard allegations that Ms Alison-Madueke’s brother Doye Agama, the churchman, was part of a conspiracy to conceal bribes disguised […]

The 159-metre (522-foot) vessel offers cargo capacity for nearly 10,000 tons of krill meal and substantial bunker capacity to refuel harvesting vessels during operations, eliminating operational downtime and maximising efficiency. Other modifications include a hangar and a bridge control station for multiple search drones; expanded and modernised accommodation areas; renewed waste management systems; and safety […]

The newbuild has an LOA of 114.95 metres (377.13 feet), a beam of 17 metres (56 feet), a depth of 10.5 metres (34.4 feet), a deadweight of 6,400, and a refrigerated hold with a total capacity of 7,100 cubic metres (250,000 cubic feet). The hold can maintain temperatures of as low as negative 35 degrees […]