South Korea steps up its push for large-scale ship recycling.

Recently, South Korea has been stepping up its efforts to position itself in the green ship recycling sector. Elegant‑Exit, a Netherlands-based company, has joined forces with South Korean domestic demolition firm RM Co., Ltd. and ISSAC Green‑Tech to plan the construction of a shipbreaking facility that the partners say could become one of the top‑tier yards in Asia in terms of scale.

Wisdom Marine Lines' operating profit surges 254% in first seven months

Wisdom Marine Lines has released its operating data for July 2026. Specifically, for the first seven months of 2026, Wisdom Marine Lines achieved operating revenue of NT$11.77 billion (approximately US$370 million), a year-on-year increase of 34.8%; operating profit reached NT$4.15 billion (approximately US$130 million), up 254.0% year-on-year; and cumulative pre-tax profit for the first seven months stood at NT$3.93 billion (approximately US$120 million), a year-on-year surge of 604.4%.

Equity in world's largest coal port to be sold, valued at over 7.2 billion yuan

According to Australian media, Macquarie Group has engaged investment bank Goldman Sachs to assess the sale of its stake in the Port of Newcastle, with the deal potentially valued at over A$1.5 billion (approximately RMB 7.153 billion). Macquarie Group is one of the world's most experienced infrastructure investors, with over two decades of investment and management expertise in the ports and terminals sector, holding terminal equity stakes in ports including the Port of New York and New Jersey and the Port of Busan.

Singapore Fuel Oil Stocks Remain Under Pressure Amid Worsening Supply Tightness

According to the latest data from Enterprise Singapore, the country's residual fuel oil inventory has risen by 3% so far this month compared to July, increasing by 610,000 barrels to 19.58 million barrels and returning to the 19-million-barrel level. This was driven by a 2% month-on-month increase in net fuel oil imports in August, with imports rising by 789,000 barrels to 6.06 million barrels and exports increasing by 715,000 barrels to 2.41 million barrels.

Official Announcement! Cadeler Formally Signs Contract for Two T-Class Wind Turbine Foundation Installation Vessels

On August 10, Cadeler, the world's largest operator of wind farm installation vessels under the BW Group, officially announced that it has signed formal contracts with COSCO Shipping Heavy Industry for the construction of two additional "T-class" wind farm installation vessels (WFIVs), scheduled for delivery in 2030 and 2031, respectively.

ZIM acquisition deal on the verge of falling through

According to a report by Israeli financial media Calcalist, the proposed acquisition of ZIM by Germany's Hapag-Lloyd and private equity firm FIMI for $4.2 billion is highly likely to be rejected by the Israeli government. Multiple government agencies involved in the review process are currently opposed to the deal, and a scheduled evaluation meeting for this week has been postponed to September 9. The buyers will still have an opportunity to present their case before a final ruling.

BYD's giant ship breaks two records!

The UAE’s Khor Fakkan Port, located on the eastern coast, is set to welcome the largest single-batch shipment of finished vehicles in its history, with a car carrier transporting 6,068 BYD electric vehicles (EVs) arriving at the port, as reported by the Emirates News Agency (WAM) on August 9. This voyage also sets a new single-shipment export record for the departure port—Xiaomo International Logistics Port in Shenzhen, China—since it began operations, marking the official inauguration of a direct roll-on/roll-off (Ro-Ro) shipping route from Xiaomo to the UAE.

Attacked vessel in Strait of Hormuz awarded $10.98 million

Thai shipowner Precious Shipping has announced that it has received US$10.98 million in war risk insurance compensation for the total loss of its bulk carrier "Mayuree Naree", which was damaged in an attack in the Strait of Hormuz. The vessel came under attack on March 11 this year, subsequently caught fire and took on water, and eventually ran aground on the south coast of Iran's Qeshm Island, where it was declared a constructive total loss.

World's first multipurpose cargo ship fitted with 22-meter 'suction sail'!

Spanish wind propulsion company Bound4blue has successfully installed a 22-meter-high eSAIL® suction sail on the new multipurpose vessel "Na Hiro E Pae".The ship, owned by the French Polynesian shipping company SNA Tuha’a Pae Shipping Company, is the world's first known multipurpose vessel equipped with wind-assisted propulsion, marking a critical step forward in the engineering application of wind-assisted power on complex hull types.

Maersk sells Maersk Training

Danish shipping giant A.P. Moller-Maersk has announced an agreement to sell its wholly owned Maersk Training business and its subsidiary Maersk H2S Safety Services to private equity fund OpenGate Capital, according to TradeWinds. OpenGate Capital specialises in corporate carve-outs and industrial investments, and the transaction represents another key step in Maersk's ongoing strategy to focus on its core shipping, port, and integrated logistics operations.