The European Investment Bank (EIB), the EU's financing department, will bar funding for most fossil fuel projects to become the world’s first ‘“climate bank”.The bank will end its financing of oil, gas, and coal projects after 2021, and will accelerate clean energy innovation…
Russia's state-owned tanker carrier Sovcomflot (SCF Group) reported improvements on both the top and bottom line in the third quarter benefiting from a stronger tanker market.The energy shipping company posted a net profit of $26m as revenue increased in the third quarter…
German international shipping and container transportation company Hapag-Lloyd said that its earnings before interest and taxes (EBIT) in the first nine months of 2019 significantly increased to EUR 643 million (9M 2018: EUR 299 million).The…
Hamburger Hafen und Logistik AG, HHLA, the company that operates three out of four of Hamburg’s container terminals, continued its positive performance in the first nine months of 2019.The total revenue was 1.04 billion euros, an increase of 8…
Hapag-Lloyd AG appointed Mark Frese to the Executive Board effective November 25, 2019. On March 1, 2020, he will become the new Chief Financial Officer (CFO), replacing Nicolás Burr.Mark Frese (55) was most recently employed as the Chief Financial Officer of Ceconomy AG…
The European Investment Bank (EIB) on Monday formally agreed to provide 140 million euros (USD $154.5 million) to support expansion and upgrading of Piraeus Port, Greece's main port.The largest ever loan for port investment in the country by Europe’s long-term lending institution…
Guatemala’s Superintendence of Tax Administration (SAT), customs entity, has recognized APM Terminals Quetzal’s transparency and security through its accreditation as an Authorized Economic Operator (AEO). The terminals achieved a 100% compliance rating…
South Korean Samsung Heavy Industries (SHI) reported its third-quarter net loss of 583.2 billion won (US$ 503.8 million), compared with a KRW80.30 billion loss in the same quarter a year earlier, staying in the red compared with a year ago.The…
Italian shipbuilder Fincantieri has posted higher earnings in the first nine months, but said the result was hit by losses at its Vard unit. Revenues increased by 9.7% at euro 4,254 million (euro 3,878 million at 30 September 2018).Fincantieri…
Global Ship Lease (GSL), a leading independent owner of containerships with a diversified fleet of mid-sized and smaller containerships, said that S&P Global Ratings has raised its long-term issuer credit rating.According to the London-headquartered company…
Tariffs could be lifted amid the U.S.-China trade deal if an agreement is reached, a White House spokeswoman said on Friday, citing optimism about a final pact but giving no further details.'We're very optimistic for some kind of a deal, and…
Ørsted, the largest energy company in Denmark, has secured nominal TWD 12 billion (USD 395m) through the issuance of green senior bonds, to finance its investments in offshore wind in Taiwan. This transaction marks the first ever green TWD bond to be issued by a foreign corporate in Taiwan…
Oil prices rose more than 1% on Tuesday on hopes for a U.S.-China trade agreement and optimism that Washington could roll back some tariffs on Chinese imports.Brent crude futures rose 74 cents, or 1.2%, to $62.87 a barrel by 12:56 p.m. EST (1756 GMT)…
World shares climbed back towards record highs and safe-haven bonds tumbled on Tuesday, as hopes that Washington may roll back some of the tariffs it has imposed on Chinese imports rekindled optimism about the global economic outlook.A year-end rally looked to be building…
South Korea's top shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group said that its holding company HHI Holdings Co will receive 1.4 trillion won ($1.24 billion) in proceeds next month from the sale of a stake in its refining unit…