InvestCorp has secured a $550 million investment to expand the port of Duqm in Oman, enhancing regional infrastructure. The project, under Investcorp Aberdeen Infrastructure Partners, will include marine upgrades and a new quay wall for green steel production, supporting Oman’s economic diversification and decarbonization goals.
MSC Cruises is expanding its fleet with two new mega ships from Chantiers de l’Atlantique, each weighing 217,000 gross tons and accommodating over 6,700 passengers. This €3.5 billion investment is set to generate over 20 million work hours, highlighting MSC’s significant role in the growing cruise industry.
India is strategically enhancing its port infrastructure internationally, building on successes like Chabahar in Iran. Through Indian Ports Global LTD (IPGL), it targets African nations, especially Tanzania, for development projects. The goal is to elevate port capacity significantly, promoting India’s maritime presence while fostering global partnerships and cooperation.
The Dredging Corporation of India (DCI) is targeting growth in the Middle East and Southeast Asia, while also focusing on the domestic market. With major expansions from AMNS India, JSW Group, and Adani Group necessitating maintenance services, DCI is strategically positioned to capitalize on these emerging opportunities in infrastructure development.
Vizhinjam International Seaport is poised for significant expansion, aiming to double its workforce within three years. With plans for two additional berths and a larger wave breaker, it seeks to process nearly five million containers annually by 2028, highlighting a pressing need for skilled employees in various sectors.
Mitsui O.S.K. Lines (MOL) has expanded its fleet with the addition of the “Green Sachi,” a very large gas carrier reflagged to India. Operated by MOL (India) PVT LTD, which now owns 11 tankers, this move strengthens its presence in India’s shipping market, particularly at Gift City, a financial hub.
The Indian Register of Shipping (IRS) has opened a new office in Dammam, Saudi Arabia, enhancing its support for the Kingdom’s maritime and oil & gas sectors. This strategic expansion will improve service delivery to local clients, offering services like ship classification, inspections, and compliance audits, reinforcing IRS’s regional presence.
Three prominent shipping figures—Fredriksen, Ofer, and Wilhelmsen—are taking Edda Wind private to overcome growth barriers posed by its current ownership structure. They plan to acquire full control via Electric AS, offering a cash buyout at a 33% premium, valuing Edda Wind at $287.5 million, following strong financial results.
Cordelia Cruises and Norwegian Cruise Line have reached an agreement to transfer Norwegian Sky and Norwegian Sun to Cordelia’s fleet. This move marks a significant milestone for Cordelia as they aim to provide top-tier cruise experiences for Indian travelers. The addition of these iconic vessels will allow Cordelia to expand its capacity.
Taiwan’s Yang Ming is embarking on a fleet optimization and expansion program with the purchase of three dual-fuel methanol containerships. These vessels, set for delivery in 2028 and 2029, will feature energy-efficient engines to accommodate alternative fuels. The company aims to incorporate digitalization and smart technologies into its operations to strengthen its core business.
The Asuka III, the first Japanese-flagged cruise ship in 35 years, is a symbol of growth in the Japanese cruise market. With luxurious amenities and a focus on Japanese preferences, the ship will offer a unique experience for passengers. Its construction in Germany marks a new chapter for Japanese cruise operators like NYK and MOL.
Egypt recently conducted a successful test of a new channel near the southern end of the Suez Canal. The trial run saw two ships passing through without incidents, aiming to increase the canal’s capacity by 6 to 8 ships daily. The expansion comes after a drop in revenue due to attacks by Yemen’s Houthi militants.
Ocean Network Express (ONE) is investing in methanol dual-fueled containerships, part of a $20 billion fleet and operations strategy. The vessels, to be delivered in 2027, will have a capacity of 13,000 TEU and feature state-of-the-art technologies for fuel efficiency and GHG emissions reduction. The move aligns with ONE’s sustainable goals.
