Golden Ocean, CMB.TECH Set August 20 Target for Closing $4.2B Merger
Golden Ocean Group Limited (NASDAQ: GOGL; Euronext Oslo Børs: GOGL) has issued an update on its planned stock-for-stock merger with CMB.TECH NV (NYSE: CMBT; Euronext Brussels: CMBT), confirming the transaction could close as early as August 20, 2025.Under the agreement, Golden Ocean will merge with CMB.TECH Bermuda Ltd., a wholly owned subsidiary of CMB.TECH, with the latter as the surviving entity.
Great Lakes Iron Ore Shipments Slip in July; Year-to-Date Totals Lag
The Great Lakes iron ore trade lost momentum in July, with shipments totaling 5.1 million tons — a 10.9% decline compared to the same month in 2024, according to the Lake Carriers’ Association (LCA). The July volume also came in 1.7% below the five-year average, signaling that weaker conditions are not just a one-month anomaly.The year-to-date picture is similarly soft. Through the first seven months of 2025…
Vantage Drilling Completes Sale of the Tungsten Explorer
Vantage Drilling International completed the sale of the Tungsten Explorer to TEVA Ship Charter LLC, the joint venture entity owned 25% by the Ccompany and 75% by TotalEnergies.
Russia's Arctic LNG 2 Continue Loadings with Sanctioned Tankers
An LNG tanker targeted by U.S. sanctions has berthed at Russia's Arctic LNG 2 plant, the fourth such vessel to do so this year, shiptracking data from Kpler and LSEG showed.The Christophe De Margerie tanker arrived unloaded at Arctic LNG 2 on August 9, showed Kpler data. The vessel was sanctioned by the U.S. Treasury department in January as part of a broader goal to target Russia's oil and gas revenues.The Arctic LNG 2 project…
Ørsted Delivers Strong H1 Results
Ørsted’s Board of Directors has approved the interim report for the first half of 2025, with Rasmus Errboe, Group President and CEO, saying he is satisfied with the company’s strong operational performance which saw earnings of DKK 13.9 billion ($2.2 billion).The figure supports Ørsted’s full-year EBITDA guidance of DKK 25-28 billion.The company has however altered the outlook for the offshore division…
Ship Recyclers Face Confusing Fundamentals and Market Uncertainty
A week of confusing fundamentals saw nearly all markets reacting as bizarrely as on “Liberation Day” tariffs from back in April, says cash buyer GMS.The tariffs, finally being levied on key destinations (including India) this week, saw turmoil across the board as the week ended. At the onset, oil futures declined 5% and closed the week out at $63.90/barrel. The tariffs announced on Friday included Russia (rather surprisingly) and China…
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