Finance News

 

DP World's First Half Profits Take a Hit from Middle East Tensions

Aug 15, 2024

Dubai-owned DP World reported a 59% drop in first-half profit on Thursday as the ports and logistics company grappled with shipping disruptions in the Red Sea as tensions flare in the Middle East due to the ongoing Israel-Hamas war in Gaza.Missile and drone attacks in the Red Sea since October by Yemen's Houthi militants, who say they are acting in solidarity with Palestinians in the Gaza war, have…

CK Hutchison Reports 11% Profit Drop in 2024

Mar 20, 2025

CK Hutchison on Thursday reported an 11% drop in underlying profit for 2024, as one of Hong Kong's most powerful conglomerates becomes increasingly embroiled in a political row over the sale of its ports business to a BlackRock-led consortium…

PSA Singapore, Evergreen Marine ink Box Terminal Ops JV

Nov 26, 2024

PSA Singapore (PSA) and Evergreen Marine Corporation (EMC) have established a joint venture in Singapore, aiming to enhance operational excellence and achieve greater synergies in container operations.The joint venture terminal is expected to commence operations by the end of 2024…

Port of Oakland wins $50 million Marad grant

Nov 21, 2024

Federal funds to upgrade aging docks to accommodate ultra-large vessels and expand economic benefits to region.The Port of Oakland was awarded approximately $50 million from the U.S. Department of Transportation Maritime Administration (MARAD)…

Port of Detroit wins EPA Grant

Nov 08, 2024

The U.S. Environmental Protection Agency (EPA) $3 billion in funding to support climate-friendly improvements in ports across the United States. The Port of Detroit was awarded a total of $24 million, including $3 million for planning and $21…

Three Industrial Projects for Le Havre Announced

Nov 07, 2024

The French government has selected winning proposals for a hydrogen import terminal, a renewable fuels facility and a lithium production factory to be built at the state-run port of Le Havre as part of an effort to attract industrial investment…

CMB.TECH Profits Rise, VLCC Outlook Good

Nov 07, 2024

Belgian oil tanker company CMB.TECH posted third-quarter profit above market expectations on Thursday, powered by a long-term strategy of decarbonization and diversification of its fleet.'From a supply-side perspective, the outlook for the tanker…

Former Amazon Exec's Supply Chain Startup raises $100 Million

Oct 09, 2024

Former Amazon.com Consumer CEO Dave Clark said on Tuesday his new software supply chain management startup Auger has raised over $100 million in private equity funding from Oak HC/FT and others.Auger will provide a software-as-a-service platform…

CK Hutchison Plans to Raise Up to $1.5 Billion in Dollar Bonds

Sep 10, 2024

Hong Kong conglomerate CK Hutchison is planning to raise up to $1.5 billion in a two-tranche dollar bond deal, according to two sources with direct knowledge of the matter.The company is looking at issuing a 5.5-year and 10-year dollar bond…

Adani to Increase Capex to $15.6 Billion

Jun 26, 2024

Indian ports-to-power conglomerate Adani Group will increase capital expenditures in fiscal year 2025 to 1.3 trillion rupees ($15.6 billion) from 700 billion rupees a year earlier, Chief Financial Officer Jugeshinder Singh said on Tuesday.Adani Green Energy…

Port Operator JSW Infrastructure Q4 Profit Rises 10%

May 03, 2024

JSW Infrastructure, India's No.2 private port operator by market capitalization, reported a near 10% increase in fourth-quarter profit on Friday, boosted by higher cargo volumes.The company, part of steel-to-energy conglomerate JSW Group, said consolidated net profit rose to 3…

Ras Al-Khair SEZ Seeking Maritime Infrastructure Investment

Apr 17, 2024

Saudi Arabia’s Ras Al-Khair Special Economic Zone (SEZ) said it is seeking local and foreign investors to help boost the Kingdom’s maritime infrastructure.With an initial area of 20 square kilometers, Ras Al-Khair SEZ, operated by the Royal Commission for Jubail and Yanbu…

Adani Ports to Raise Up to $601 Million by Selling Debentures

Jan 03, 2024

Adani Ports and Special Economic Zone, India's largest private port operator, will raise up to 50 billion rupees ($600.6 million) by selling non-convertible debentures, it said on Wednesday.Billionaire Gautam Adani was re-designated as executive…

"Green" Loan Secured for Low-Emission Cruise Ship

Dec 28, 2023

Fincantieri signed a 'green' construction loan for a maximum amount of $461m with Intesa Sanpaolo (IMI Corporate & Investment Banking Division) and Cassa Depositi e Prestiti (CDP), the proceeds of which will be used to cover the financial needs linked to the construction of the Mein Schiff Relax…

MOL First Shipping Company to Issue 'Blue Bonds'

Dec 15, 2023

Mitsui O.S.K. Lines, Ltd. has decided to issue “blue bonds” through a public offering in Japan’s domestic market in January 2024, reportedly the world’s first blue bonds in the shipping industry, which refer to the guidance provided by the International…

Logistics News

New Chief Executive Appointed at MPA Singapore

New Chief Executive Appointed at MPA Singapore

JSW Infrastructure Expects Cargo Volume Growth Rise in 2026

JSW Infrastructure Expects Cargo Volume Growth Rise in 2026

Port of Naples Cargo Operator Invests in Konecranes Gottwald Mobile Harbor Crane

Port of Naples Cargo Operator Invests in Konecranes Gottwald Mobile Harbor Crane

The Port of Klaipėda Begins 2025 With a 15% Increase in Cargo Handling

The Port of Klaipėda Begins 2025 With a 15% Increase in Cargo Handling

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