Mitsui O.S.K. Lines, Ltd. and Marubeni Corporation announced today that the two companies have entered into a shareholders agreement to jointly establish a new company, called Marubeni MOL Forests Co., Ltd.,(Note 1) to create, purchase, sell, and retire(Note 2)...

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South Korea’s top three shipbuilders are expected to report collective annual profits for 2024, marking the first time in 13 years that the trio—HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean, and Samsung Heavy Industries—have all turned a profit. The...

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China’s shipbuilding remained robust in 2024, and is likely to maintain strong growth momentum in 2025, which would benefit the steel plate market. However, the plate market is set to face continued pressure this year due to growing capacity, industry sources told...

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Spot premiums for fuel oil rose on Monday, supported by supply uncertainty in February as some industry sources expect logistical challenges after recent sanctions on Russian oil. Cash premiums for high sulphur fuel oil (HSFO) held steady to firmer on Monday, with...

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Efficiency measures must be applied to the existing fleet to meet IMO Mid-Term GHG reduction measures, says a new publication from the Maritime Emissions Reduction Centre (MERC). By enhancing efficiency, the maritime industry can reduce the amount of alternative...

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China imported a record amount of coal in 2024, driving world imports of the fuel to an all-time high. So why are coal exporters starting 2025 in a deep blue funk? For coal exporters, China is both their saviour and tormentor, as the record import volumes are only...

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