Norwegian marine mutual comes through with ‘solid’ technical performance

Strong owner balance sheets and prolonged healthy earnings have reduced the pressure to sell, allowing owners of modern tonnage to demand increasingly higher prices

The positive momentum is expected to continue in the short term, supported by strong cargo volumes and healthy freight rates despite a large newbuilding orderbook and wider market uncertainties

Citibank’s London branch has been hit with a £4.7m penalty, after UK regulators found sanctions control failures allowed hundreds of payments involving Russian shipping giant Sovcomflot and other designated entities to be processed after the invasion of Ukraine

Clyde & Co draws comparison between Strait of Hormuz crisis and 1956 Suez closure, which saw cases come to court many years later

The Baltic Exchange will stick to the status quo on Middle East Gulf freight benchmarks for the time being, after long-awaited consultation feedback highlighted concerns with its proposed changes

The Greece-based owner withdrew its bid earlier this month, ending to a near year-long effort to take over New York-listed Genco

Dubai-based SPM Shipping has built a 32-vessel fleet in just three years as its parent company expands beyond ship recycling and cash buying, positioning itself across multiple shipping sectors

In 2023, after the pandemic boom ended, there were dire predictions on the fate of container shipping lines. These forecasts turned out to be spectacularly wrong. Three years later, liner operators are still going strong

Meetings earlier this year proved inconclusive, say market sources

Chief executive Jacob Meldgaard said rising secondhand tanker values had made newbuildings more attractive, particularly as newbuilding prices have remained relatively stable