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…
Norwegian Cruise Line Holdings forecast annual profit below Wall Street expectations, as demand for its higher‑priced voyages softened amid economic uncertainty and rising geopolitical tensions.Shares of Norwegian fell about 7% in premarket trading…
Okeanis Eco Tankers Corp. said that following strong demand it has successfully priced an offering of 3,239,436 new shares of the Company’s common stock, par value USD 0.001 per share, at a price of $35.50 per Offer Share, raising gross proceeds of $114…
India's Adani Ports and Special Economic Zone, the country's largest private port operator, has accepted bids worth 50 billion rupees ($584.8 million) for bonds maturing in 15 years, two merchant bankers said on Thursday.The company will pay an annual coupon of 7…
Adani Ports and Special Economic Zone, India's largest private port operator, plans a return to the domestic bond market after a 17-month hiatus in what could be its largest-ever rupee denominated debt issue, three merchant bankers said on Wednesday…
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 (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…
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)…
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…
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…
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.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…
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…
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…
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…
