Switzerland News

The Nord Stream gas pipelines were attacked in 2022 as a direct result of Russia's invasion of Ukraine, insurers told a London court on Thursday as they seek to avoid paying out nearly 580 million euros ($684 million) over blasts that hit the pipelines.Nord Stream is suing Lloyd's and Arch Insurance over explosions in September 2022 that ruptured pipelines carrying Russian gas under the Baltic Sea to Germany.The explosions – for which no state has taken responsibility - largely severed Russian gas supplies to Europe…

Louis Dreyfus Company B.V. (LDC) appointed Sébastien Landerretche as the Group’s Chief Financial Officer (CFO), effective March 18 and based in Switzerland.Landerretche joined the Group in 2004, leading global ocean freight research, based in China. He subsequently held several key leadership roles based in Singapore, including Regional Head of Oilseeds and Regional Head of Freight for Asia, until his appointment as Global Head of Freight in 2015, based in Switzerland. Prior to LDC, Sébastien worked in financial controlling positions at EDF and RSM, in China.

President Donald Trump denounced a clean energy agreement between the United Kingdom and California Governor Gavin Newsom hours after it was signed on Monday, Politico reported.In an interview with the outlet, Trump said it was "inappropriate" for Britain to be dealing with the Democratic governor. Trump, a Republican, also branded Newsom "a loser," saying "his state has gone to hell, and his environmental work is a disaster.”Newsom is an outspoken Trump critic and has publicly…

Offshore drilling contractor Transocean has agreed to acquire Valaris in an all-stock transaction valued at about $5.8 billion, creating one of the world’s largest offshore drilling contractors with a fleet of 73 drilling rigs.The combined company will have an enterprise value of roughly $17 billion, with Transocean shareholders expected to own about 53% of the merged entity and Valaris shareholders the remaining 47% on a fully diluted basis.The transaction will combine fleets to form a portfolio of 73 offshore rigs…

Growing electricity demand from AI and data centres, together with rising fuel use in Asia and European gas needs could turn an expected global liquefied natural gas supply glut into a shortage by 2030, Qatar Energy CEO Saad al-Kaabi said on Monday.LNG coming online between 2026 and 2029 has raised concerns of a supply glut that could depress prices, with projects like Golden Pass LNG on the U.S. Gulf Coast and Qatar's North Field Expansion expected to contribute sizeable volumes."We…

Sallaum Lines announced the relocation of its headquarters from Switzerland to Limassol, Cyprus. This move reflects the company’s long-term growth vision and its commitment to strengthening its presence within the European maritime world. Known as one of the world’s top global shipping centers and the largest shipping management hub in Europe, Cyprus is an ideal environment for maritime businesses.

Palantir leaders said the U.S. technology company has clinched a deal to sell more software to HD Hyundai, ramping up its heavy-industry work in South Korea.The agreement is worth hundreds of millions of dollars to Palantir over several years, a person familiar with the matter told Reuters on Tuesday.Palantir declined to comment on terms of the deal.The companies organized a signing ceremony at office space Palantir set up for the World Economic Forum's annual meeting this week in the Swiss resort of Davos.The agreement marks an expansion of work Palantir began in 2021 with HD Hyundai…

Damen Naval has expanded Colombian involvement by contracting Georg Fischer for the PES project in LATAM. Under this project, a Damen SIGMA frigate will be built by COTECMAR, at their shipyard in Cartagena. Georg Fischer in LATAM has been contracted for the delivery of all plastic piping for the PES project.Besides the supply of plastic piping, Damen Naval’s procurement contract also includes Georg Fischer in LATAM to provide training sessions for COTECMAR staff at their yard in Colombia. This enlarges exchange of technology and knowledge under the PES project.

Russian oil major Lukoil is struggling to keep operations running at its sprawling foreign businesses as Western sanctions disrupt oil loadings in Iraq, pump stations in Finland and trading in Switzerland, sources said.The United States and the United Kingdom last month imposed sanctions on Russia's second-largest oil company, complicating how it carries out its normal operations.The U.S. Treasury Department issued a licence giving companies until November 21. to wind down any…

Global shipping companies are moving full steam ahead with commercial vessel orders from Chinese shipyards, despite the U.S. targeting those ships with port fees aimed at countering China's maritime dominance, a new report from the Center for Strategic and International Studies showed.Chinese shipyards captured 53% of all global ship orders by tonnage during the first eight months of 2025, according to the CSIS analysis of S&P Global data released on Wednesday.That was on par with full-year 2023 levels before the U.S.

This week MarineLink reported that the Global Ethanol Association (GEA) has officially launched as an independent, non-profit international organization headquartered in Switzerland.GEA’s first flagship program is the Marine Fuel Sector Initiative, an industry led effort to transform ethanol’s market potential into commercial reality and establish it as a cornerstone of the sustainable marine fuel mix.Sylvain Zurcher, Co-Founder & President of the GEA, notes that the US is one of the world’s largest ethanol producers with strong infrastructure already in place.

The Global Ethanol Association (GEA) has officially launched as an independent, non-profit international organization headquartered in Switzerland.GEA’s mission is to unite resources and expertise, foster cross-sector collaboration, and amplify a powerful industry voice to unlock new opportunities across emerging sectors and accelerate sustainability, innovation, and growth in established ethanol markets.“The Global Ethanol Association represents a transformative step for ethanol as a strategic enabler of sustainable solutions across industries” said Sylvain Zurcher…

Ampereship, a shipbuilding company based in Stralsund that specializes in the construction of new electric solar-powered ships and ferries for inland waters, has completed its first conversion of a diesel-powered passenger ship to fully electric propulsion. The converted passenger ship “Uetliberg” recently completed its first emission-free voyage on Lake Zurich in Switzerland. Built in 1999 and now classified as an electric ship, the 42.4-meter-long vessel is currently the largest battery-powered passenger ship in Switzerland.

The Indian government has extended import curbs on low-ash metallurgical coke, a steelmaking raw material, for six months starting July, a government order said on Monday, dealing a blow to steelmakers who oppose restrictions on overseas purchases.India, the world's second-largest crude steel producer, will set country-specific import quotas and cap purchases at 1.4 million metric tons from July 1 to December 31, the order said.Reuters in February reported that India could extend curbs on low-ash met coke imports to encourage local steel mills to use domestic suppliers.

WinGD has launched its global service offer, expanding the original parts supply, in-service support and technical advisory it currently delivers during the engine warranty period across the entire vessel lifecycle. Global Service by WinGD will support ship operators by maximizing the profit-making potential of their engines and vessels, maintaining optimal efficiency and extending the compliant lifetime of their assets.Global Service by WinGD complements the full lifecycle support already offered to global WinGD users through digital optimization…

Major container shipping companies are suspending at least six scheduled weekly routes between China and the United States as President Donald Trump's punishing tariffs on the world's top exporting country collapse trade, maritime consultants said.The ships on those routes have the combined capacity to deliver 25,682 40-foot containers stuffed with toys, tennis shoes, car parts and things U.S. manufacturers use to produce goods each week - or more than 1.3 million 40-foot containers a year…

Alfa Laval has signed its first contract for the ammonia fuel supply system, FCM Ammonia.The FCM Ammonia will be installed on a CSSC Huangpu Wenchong shipyard in China for ship owner Tianjin Southwest Maritime (TSM). The installation will commence with three 25,000-cu. m. vessels, followed by four 41,000 cu. m. vessels.The FCM Ammonia contract follows testing and development conducted in close collaboration with WinGD. In December 2024, testing of the full fuel supply system, fuel valve train…

WinGD reports it has confirmed key parameters for its X-DF-A ammonia-fueled engine design after full-load testing at its Engine Research and Innovation Centre in Winterthur in Switzerland.The performance and emission measurements deliver timely assurance as the first users prepare their vessels and auxiliary systems for ammonia fuel.The tests confirm engine performance data that WinGD has published in its General Technical Data (GTD) software, available online, and guaranteed to customers.Operation on ammonia achieved the same thermal efficiency as for diesel fuel…

Germany’s maritime industry is proving resilient amid global economic uncertainty and shifting geopolitical priorities. At the annual conference of the German Shipowners' Association (VDR), statistics underscore the sector's role in securing trade, employment, and economic stability. Despite mounting challenges, German merchant shipping remains a powerhouse—supporting nearly half a million jobs and ensuring the steady flow of essential goods into and out of the country.A Maritime PowerhouseGermany boasts a fleet of 1,764 ships, ranking it seventh among global merchant shipping nations.

The United States is preparing to impose docking fees at its ports on any ship belonging to a fleet that includes Chinese-built or Chinese-flagged vessels, according to a draft executive order, a move aimed to both revitalize U.S. shipbuilding while countering China’s dominance in global shipping and shipbuilding.The draft order from President Donald Trump also urges allied nations to adopt similar policies or risk facing retaliatory measures from the U.S.China’s growing control over the maritime industry has become a rare bipartisan concern in the U.S.…

Yara Clean Ammonia Switzerland, a subsidiary company of the world’s largest ammonia distributor Yara International, has signed a time-charter contract with Nippon Yusen Kabushiki Kaisha (NYK) for an ammonia-fueled medium gas carrier (AFMGC) to be delivered in November 2026.Since 2021, Yara Clean Ammonia and NYK have jointly studied the practical application of an ammonia-fueled ammonia gas carrier, and the companies have now concluded the world’s first time-charter contract for an AFMGC…

In the ever-evolving world of maritime trade, ship ownership is a key indicator of economic influence and global commerce. As we enter 2025, Veson Nautical offers its Top 10 Ship Owning Nations, offering a detailed analysis of fleet values and industry shifts. This year, China has surged to the top, overtaking Japan in total fleet value, while geopolitical events and shifting market dynamics continue to shape the rankings.Let’s take a closer look at the global giants of ship ownership and the forces driving their dominance.1.

Ships not linked to Israel could begin returning to the Red Sea in as little as two weeks, DP World's deputy chief executive said, adding that could see freight prices "come crashing down".Sea freight prices could drop "at least 20%, 25%" and that could happen over two to three months, Yuvraj Narayan told Reuters on the sidelines of the World Economic Forum meeting taking place in Davos, Switzerland.It is hard to predict a specific timeline, however, the deputy CEO and CFO of…