Grimaldi Group orders five more ammonia-ready car carriers

The year 2023 has opened with a new order for the Grimaldi fleet. The Neapolitan group has commissioned Shanghai Waigaoqiao Shipbuilding Company Limited (SWS) and China Shipbuilding Trading Company Limited (CSTC), two subsidiaries of China State Shipbuilding Corporation Limited (CSSC), to build five new PCTC (Pure Car & Truck Carrier) vessels, with the option for […]

Hapag-Lloyd acquires minority 49% stake in Italian terminal operator Spinelli Group

The responsible antitrust authorities have approved Hapag-Lloyd’s acquisition of a minority stake in the Spinelli Group, after signing took place in September 2022. With the closing of the transaction, Hapag-Lloyd has acquired 49 percent of the shares in one of Italy’s leading terminal and transport operators, with the remaining 51 percent of the shares remaining […]

Quinto Shipping orders Parsifal-type inland waterway tanker from Concordia Damen

Dutch inland shipping yard Concordia Damen has been commissioned to build and equip an inland shipping tanker for Quinto Scheepvaart B.V. from Zwijndrecht. The order also marks the switch, after 25 years, that family business Quinto makes from container shipping to tanker shipping. Quinto has opted for a tanker of the Parsifal type, a new […]

Further gains for offshore oil & gas vessel markets in 2022, reports Clarksons

Last year osaw positive progress for offshore oil and gas vessel markets, with the Clarksons Offshore Dayrate Index (Rigs, OSV and Subsea) up 32% to a post-2014 high (84, 2014: 100, 2017: 45). Key indicators of demand and utilisation also ticked up after the moderate post-Covid improvements of 2021. Despite macro-economic risks to the outlook, […]

Euronav ripostes to Frontline decision to terminate combination agreement

Following what it called detailed consideration with its legal and financial advisors, Euronav last week rejected Frontline’s right to unilaterally terminate the two companies’ combination agreement signed on July 10, 2022. It stated that Frontline had failed to provide a satisfactory reason for its decision to pursue termination – which apparently was because a full-blown […]