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Cosco's executive VP for North America does not expect that the recently downgraded global economic growth forecast will have a big impact on the container sector. But an abrupt halt would be a different matter, he tells ShippingWatch.
The VLCC rates continue to soar, and the question everyone is asking themselves is for how long this development will continue. The rates are now rubbing off on product tanker, where LR2 ships have started to sail with crude oil, analysts say.
DFDS checks off its second Brexit contract awarded by the UK in less than a week. The latest contract is shared with two other companies and has a total value of GBP 25 million.
The US government has warned Cosco-owned Dalian Tankers "very heavily" against turning off the AIS systems on its ships. Dalian Tankers denies having turned off the transponders.
"The stock price naturally reflects shareholders' expectation for the future, and I'm not in control of that, but we're aware of it," says Maersk Drilling CEO Jørn Madsen.
Inter-Pacific Petroleum has lost its license to operate bunker vessels in Singapore. Authorities have caught Inter-Pacific using "magnetic interferences" to bypass mass flow meters on its ships.
Container line MSC is the buyer behind the five mega ships which South Korean shipbuilder DSME will build. This is not a new order, as the company has exercised options related to previous orders, says MSC.
Norway's AHTS fleet utilization is approaching the maximum, reports media, while rates are moving up. A low quantity of ships in the market combined with many rigs at work prompt analysts to take a positive outlook on late 2019.
Container ships equipped with scrubbers will be able to speed up in 2020 due to their ability to tank and burn cheap bunker, thus providing a competitive advantage, writes Alphaliner. Maersk and MSC via their 2M Alliance look set to benefit in particular, the firm reports.
2020 Bulkers has sold two ships to Ocean Yield for USD 84 million, and the board now heralds dividends to shareholders.
France wants an EU tax on ship fuel and planes to bring down greenhouse gas emissions. Several major shipping lines like Maersk and BW Group have previously recommended one type of tax on shipping's fuel.
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The shipping industry gave itself "the easiest possible" starting point when it decided to use 2008 as a benchmark for its climate strategy, researchers tell ShippingWatch. And the underlying data is also poorer.
Norway's G2 Ocean is now betting heavily on the project cargo segment, in which the merged shipping company has just opened two new offices. According to its CEO, project cargo attracts the main part of new customers.
The UK government has awarded a series of new Brexit contracts that will ensure freight of medicine to the UK after Brexit. DFDS and Stena Line are among the ferry operators which have secured some of the contracts, which are worth several million pounds.
Major dividend payouts could be headed for stakeholders in Oslo-listed tanker shipping companies, projects broker Cleaves Securities. One shipping line stands to pay dividends to its shareholders in excess of half a billion US dollars next year.
Japan's MOL will begin a new study that will explore how a so-called rotor sail impacts, among other elements, greenhouse gases. The study will pave the way for MOL to launch a dry bulk ship powered by rotor sails.
Maersk Growth has funded 15 startups in an 18-month period. The recipients are digital companies enlisted to help Maersk acquire a larger section of the shipping sector's value chain.
Daewoo Shipbuilding & Marine Engineering has secured an order for five new container ships set for delivery next year. The contract is worth a triple-digit million-dollar figure.
German shipyard Meyer Werft has joined forces with a number of other companies to develop hydrogen cells for use on an ocean-going cruise ship. DNV GL participates.
BW Group has closed an accelerated sale of shares in its gas carrier BW LPG. The plans to sell 7 million shares were announced Monday afternoon, and the transaction closed Tuesday morning.
The US on Monday imposed new sanctions against Turkey. According to President Donald Trump, tariffs on Turkish steel will be raised to 50 percent, a move that comes in response to Turkey's offensive in northern Syria.
Logistics major Kuehne + Nagel is already seeing customers willing to pay more to have their goods transported in a climate-friendly manner. "This will become the deciding factor in the coming years," EVP of Sea Logistics tells ShippingWatch.
The ship Tide Carrier, which was arrested in Norway en route to an illegal shipbreaking yard in Pakistan, ended up costing a Singapore-based cash buyer a fine of NOK 7 million. The fine has been paid.
More than half of the 300 positions at Panalpina's Swiss headquarters may be cut as a result of the integration with DSV.
VLCC rates have climbed to USD 300,000 per day, the highest level in 15 years, analyst firm writes. The rates have increased massively over the past month, and the current situation is "not normal circumstances", according to the analysis.
Bunker Broker - Liberty Marine Fuels 
Vessel Manager to TORM
Head of Finance & IT - Clipper
Cash Management Specialist
Bunker Trader Officer - GMS in Dubai
Managing Director Copenhagen
Legal Consultant for CO-Sea
