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…
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…
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 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…
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…
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…
India's Adani Ports and Special Economic Zone APSE.NS is mulling a fundraise of up to 10 billion rupees ($120 million) from a domestic rupee bond sale, its first since 2021, two bankers aware of the discussions said on Thursday.The country's…
Major global lenders should refuse to finance a liquefied natural gas (LNG) project in Papua New Guinea to help keep global warming in check, civil society groups said on Wednesday, as some owners tap banks ahead of a final greenlight next year…
German container shipper Hapag-Lloyd on Thursday posted a net profit of 3.2 billion euros ($3.43 billion) for the first nine months of 2023, down by 77% from a year earlier, and cut its forecasts for full-year earnings.Net profit was down from 13…
Deutsche Bank has set emissions reduction targets for loans to clients in the coal mining, cement and shipping sectors and now has a net-zero plan for 55% of its financed emissions, its chief sustainability officer told Reuters.A key funder to polluting sectors…
The concept of trading is about to take on a whole new meaning for shipping companies with implementation of the EU Emissions Trading System (EU ETS) for maritime from next year. As well as monitoring their emissions to meet reporting requirements…
Much has been written about potential bottlenecks in store for various parts of the U.S. offshore wind industry, from vessels to monopiles. A new report published by the Business Network for Offshore Wind (BNOW) outlines the need for significant…
