Stock-listed Belgian carrier Euronav achieved an operating profit of USD 68.6 million in the first half of the year, and the carrier plans to continue its buying streak following the Maersk purchase and other acquisitions.
If CMA CGM forms an alliance with UASC and CSCL in the wake of the new collaborative agreement between Maersk Line and MSC, the new alliance would have a market share of around 20 percent on the container trade between Asia and Europe, says Alphaliner.
The merger between Norwegian DNV and German GL was approved almost ten months ago, creating the world's largest classification company. The company saves millions with the collaboration, though it is also losing some tonnage, CEO Henrik Madsen tells ShippingWatch.
When politicians in the state of Virginia in 2013 rejected a billion-dollar offer from APM Terminals to operate the potentially huge container port on the US East Coast, they also waved goodbye to a billion-dollar profit.
The good news for owners of the major VLGC gas vessels keep rolling in, most recently with a new record for spot rates, at more than USD 142,000 per day. And the positive developments do not look set to end anytime soon, predicts DNB.
The number of banks with stakes in Torm has dwindled down to five. The Chinese are completely out, and now the decision regarding the future ownership structure is de facto in the hands of European banks.
DNB remains challenged by loans to the shipping industry, though the bank predicts improvements in 2014 and 2015. But many new ships in both dry bulk and tanker could disrupt a potential rebound, says the bank.
Indonesia's core customers, such as China, India and Europe, are slowing down their palm oil import, and the country's export could risk a 9.5 percent drop in 2014 compared to last year, according to Reuters.
After more than two years spent lying off the Italian rock island of Giglio, the remains of shipwrecked cruise vessel Costa Concordia begins its final journey toward the Italian port of Genoa on Wednesday, where the wreck is set to be scrapped. Find pictures from the voyage below.