Finnish conglomerate Aspo has approved a demerger plan under which dry bulk shipping operator ESL Shipping would become a separate company and seek a listing on Nasdaq Helsinki. The execution of the plan will be conditional on approvals at of the Extraordinary General Meeting of Aspo Plc, planned to take place in December 2026.  ESL Shipping, which has been in business for over 75 years, is the leading dry bulk shipping operator in the Baltic Sea region. Its fleet consists of around 40 vessels with cargo capacity ranging from 4,000 to 25,000 DWT and all of which are ice class […]

Global energy giant ExxonMobil has posted earnings of  $14.5 billion for the second quarter (Q2) of 2026 and $18.7 billion for the year to date (YTD), which was up around 4% on the $14.8 billion earned in the first half of 2025. In a statement issued on Friday (31 July), Darren Woods, ExxonMobil chairman and chief executive officer, commented: ‘The second quarter was shaped by disruption, but defined by execution. Markets were supportive, but our performance reflected the strength of the portfolio and operating model we have built over many years. ‘As conditions changed, we moved products where they were […]

Port of Long Beach issued more than $2 million to ship operators in 2025 through its Green Shipping Incentive Program. According to an update in its July newsletter, the port provided incentives ranging from $600 to $9,000 per port call, with operators rewarded based on criteria such as engine type, fuel type and other efficiency improvements that reduce vessel emissions. In its update, the port also said it would extend its Green Shipping Incentive Program for the ‘foreseeable future’, although no further details were provided. The commitment follows remarks made in May as part of the launch of the Clean […]