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Kongsberg Maritime has agreed to acquire Swedish propulsion specialist Berg Propulsion in a deal designed to broaden its reach across commercial vessel segments and deepen its aftermarket business. Financial terms were not disclosed. Kongsberg said the transaction is priced at approximately the same EV/EBITDA level as its own current market valuation and remains subject to …
https://splash247.com/kongsberg-maritime-buys-berg-propulsion/
https://splash247.com/kongsberg-maritime-buys-berg-propulsion/The number of vessels transiting the Strait of Hormuz fell to multi-week lows on Sunday, shipping data showed, as renewed strikes between the U.S. and Iran and attacks on ships in the Middle East heightened safety concerns.Six vessels transited the strait on Sunday…
https://www.marinelink.com/news/hormuz-traffic-falls-fiveweek-low-541147
https://www.marinelink.com/news/hormuz-traffic-falls-fiveweek-low-541147Oil prices surged more than 3% on Monday after renewed military strikes between the United States and Iran reignited concerns over energy shipments through the Strait of Hormuz.Brent crude futures LCOc1 were up $2.67, or 3.51%, to $78.68 at 0743 GMT, while U.S.
https://www.marinelink.com/news/oil-jumps-renewed-usiran-conflict-541148
https://www.marinelink.com/news/oil-jumps-renewed-usiran-conflict-541148Capesize The market enjoyed another constructive week, extending the recovery that gathered pace at the end of the previous week despite a brief period of midweek consolidation. Overall sentiment remained positive, underpinned by healthy cargo volumes, consistent miner activity and improving confidence across both the Pacific and Atlantic basins. The Pacific continued to provide the ...
https://www.hellenicshippingnews.com/dry-bulk-shipping-capesize-market-extends-recovery-phase/
https://www.hellenicshippingnews.com/dry-bulk-shipping-capesize-market-extends-recovery-phase/The Louisiana Coastal Protection and Restoration Authority (CPRA), the Louisiana Department of Transportation and Development (DOTD), and the U.S. Army Corps of Engineers (USACE) have agreed to a joint commitment to overhaul bureaucratic processes…
https://www.marinelink.com/news/summit-sea-level-accelerate-coastal-541135
https://www.marinelink.com/news/summit-sea-level-accelerate-coastal-541135Italian energy contractor Saipem's merger with Norwegian peer Subsea 7 is set to face a full-scale EU antitrust investigation because of competition concerns about the deal, people with direct knowledge of the matter said.The companies announced…
https://www.marinelink.com/news/saipem-subsea-undergo-eu-antitrust-541137
https://www.marinelink.com/news/saipem-subsea-undergo-eu-antitrust-541137Ukraine struck 13 Russian vessels in the Sea of Azov on Friday, including 10 tankers, its drone forces commander said, part of Kyiv's major campaign aimed at enforcing a fuel crisis on Moscow's troops.A dry cargo ship and a ferry were among the targets as well…
https://www.marinelink.com/news/russian-vessels-struck-ukraine-azov-sea-541139
https://www.marinelink.com/news/russian-vessels-struck-ukraine-azov-sea-541139Iranian oil supplies at sea are rising after Tehran ramped up exports during the interim peace deal with the United States, but sales have been slow as China's independent refiners have turned to cheaper crude from Iraq, the UAE and Qatar.The return of U.S.
https://www.marinelink.com/news/prices-iranian-oil-stranded-sea-surge-541140
https://www.marinelink.com/news/prices-iranian-oil-stranded-sea-surge-541140Oslo-listed car carrier operator Höegh Autoliners has extended an existing contract with a major Asian car producer in a deal expected to add about $300m in revenue. The contract extension runs until December 2029 and covers the transportation of cars in a key trade lane. Höegh Autoliners said the new agreement includes higher committed volumes …
https://splash247.com/hoegh-autoliners-adds-300m-to-asian-carmaker-deal/
https://splash247.com/hoegh-autoliners-adds-300m-to-asian-carmaker-deal/Malaysia’s Lianson Fleet Group (LFG) is moving into larger bulk carriers with the acquisition of two 2017-built ultramaxes for $52.32m. The Bursa Malaysia-listed company, formerly known as Icon Offshore, said its wholly owned subsidiary had signed two separate deals with unrelated Chinese sellers for the Tian Mu Shan and Yan Dang Shan. LFG said the …
https://splash247.com/lianson-fleet-bulks-up-with-ultramax-brace/
https://splash247.com/lianson-fleet-bulks-up-with-ultramax-brace/