Korean conglomerate Hanwha has officially withdrawn its takeover bid for Australian defense shipbuilder Austal, citing insurmountable obstacles in conducting due diligence. Following the acquisition of the former Daewoo Shipbuilding and...

Japan-based shipping group Nippon Yusen Kabushiki Kaisha (NYK) and compatriot Oono Development have signed a memorandum of understanding (MoU) to jointly explore the commercialization of responsible ship recycling in Japan....