Business News

Genting Hong Kong Files Bankruptcy to Prevent "Disorderly Liquidation"

Published Jan 18, 2022 8:48 PM by The Maritime Executive

Genting Hong Kong filed today for the provisional liquidation on the company after reporting that it had exhausted its negotiation...

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Genting Faces Potential Default as German Court Refuses Injunction

Published Jan 17, 2022 5:39 PM by The Maritime Executive

Genting Hong Kong’s effort to compel the German state to release funds under an emergency loan for the MV Werften was blocke...

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Italy’s Moby Files U.S. Bankruptcy in Ongoing Reorganization Battle 

Published Jan 17, 2022 3:31 PM by The Maritime Executive

Italian ferry operator Moby S.p.A. filed for bankruptcy in a U.S. Court on January 14 as the latest step in a drawn-out reorganiza...

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Maersk Reports 2021 Earnings Will Exceed Forecasts by $1 to $2 Billion

Published Jan 14, 2022 2:09 PM by The Maritime Executive

Providing further evidence of the exceptional market conditions for the container shipping industry, A.P. Moller- Maersk reported...

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Investors Acquire UK's North Star for Opportunities in Offshore Wind

Published Jan 13, 2022 7:01 PM by The Maritime Executive

Seeking to invest in the emerging opportunities in the offshore wind energy sector, Swiss-based private markets firm Partners Grou...

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Wilhelmsen Returns to Tankers With Purchase of Ahrenkiel

Published Jan 12, 2022 2:40 PM by The Maritime Executive

After a decade-long absence from the tanker segment, Wilhelmsen Ship Management has purchased a controlling stake in Ahrenkie...

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SM Line Invests $14 Million in HMM Ahead of Possible Government Sale

Published Jan 4, 2022 4:41 PM by The Maritime Executive

As South Korea explores the privatization of parts of its shipping industry in 2022, emerging shipping line SM Line is quietly pos...

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Suez Canal Authority Reports Record $6.3B in Revenues in 2021

Published Jan 3, 2022 6:12 PM by The Maritime Executive

The Suez Canal Authority reported record results for the number of transits of ships and revenues in 2021 saying that the operatio...

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Evergreen Hands Out Huge Bonuses for Record-Setting Year

Published Dec 31, 2021 8:27 PM by The Maritime Executive

Evergreen Marine Corp (EMC), the Taiwanese ocean carrier, is reportedly handing out generous annual bonuses after a great year for...

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Singaporean Liftboat Owner Ezion Winds Up Operations

Published Dec 30, 2021 10:44 PM by The Maritime Executive

Offshore services company Ezion Holdings, owner of pioneering liftboat firm Teras Offshore, said Thursday that it plans to wind up...

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