The International Maritime Organization (IMO) failed to revise the current greenhouse gas (GHG) target for 2050 to speed up the decarbonization of the global shipping industry. Further revision of the target will not take place until 2023. The IMO 77th...

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Rizhao Port inked cooperation framework agreement with miner Rio Tinto to expand iron ore and supply chain services. The two parties will establish an exchange and communication mechanism for port safety management and environment protection, and jointly explore...

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Greek Prime Minister Kyriakos Mitsotakis said Greece is determined to become a global leader in the decarbonisation of the shipping industry as the country puts the focus on sectors where it feels it can be a leader in the global climate agenda. Speaking online with...

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The booming container shipping market came too late save Pacific International Lines (PIL) from restructuring, but is enabling repay scheme debts to the tune of $1bn ahead of schedule. Singapore-headquartered PIL was rescued by Temasek Holdings unit Heliconia...

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Japanese maritime shipping company Mitsui O.S.K. Lines will double investment in decarbonization efforts to the order of 400 billion yen ($3.5 billion) over three years compared with previous plans, President Takeshi Hashimoto told Nikkei in an interview. It...

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The South Korean government confirmed that it is proceeding with a plan to return ownership of HMM, Korea’s large shipping company, to private investors in 2022. The move will come six years after the government through its investment banks stepped in to save the...

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