August represented a historic low point for container carriers' schedule reliability. Only three out of ten container vessels – or 33.6 percent – managed to deliver goods on time, according to new figures from Sea-Intelligence. Reliability hasn't been lower in the ten years the analyst firm has monitored reliability.
Manufacturer of ballast water systems Bawat joins Danish Maritime in leveling criticism against large shipping organizations' proposal to postpone the deadline for submitting ballast water data to the IMO. It is "unfortunate," the CEO tells ShippingWatch.
The dry bulk upturn has led to an upgrade of the growth forecast for the rest of the year. According to Cleaves Securities, this comes at the expense of lower growth in 2022, according to brokerage firm.
Japanese K Line signs a sustainability-linked loan with syndicated lenders to invest in decarbonization and transition strategies. Sustainable bank financing is picking up speed in the shipping industry.
German-based credit rating agency Scope launches a new ship assessment system, Ship Review, which entails "independent" ESG evaluations of 70,000 ships as well as CII ratings of 40,000 ships' operational efficiency.
2021 is on track to set a new record for orders for container vessels. Transactions involving secondhand vessels have already surpassed 2017, the previous record-breaking year, according to new figures from Clarksons Research.
OSM submitted a bid of approximately USD 28 million, according to several key sources, and came close to an agreement for Maersk Tankers' ship management business. However, OSM was outbid by Synergy Group, which tells ShippingWatch that the agreement is "extremely important".
Contracts are meant to be broken – at least in shipping, where carriers and customers alike seek to confront the issue of widespread "disloyalty". Analyst confirms growing interest in binding contracts.
Another Norwegian joint venture has stepped forward with the aim of producing green ammonia for shipping. The pilot facility will enter development as soon as next year, says the CEO of the new venture, Vidar Lundberg, to ShippingWatch.
The European Parliament has appointed German politician Peter Liese to serve as the influential rapporteur in negotiations for CO2 quotas in shipping. He stresses that it is worth being mindful of too much regulation.
Smugglers and other players engaged in illegal trade are exploiting the IMO's global automatic identification system (AIS) by assuming legal vessels' identities to cover up illegal activities, warns C4ADS.
The CEO of Odfjell Drilling says bank loan requirements for the drilling industry have become far too strenuous. Banks are continuing to withdraw from oil, as "many companies are still in a challenging situation", says one Nordea leader.
Industry association Danish Maritime sharply criticizes the fact that several major shipping organizations propose extending the deadline for filing ballast water data to the IMO. "We cannot support it," CEO Jenny N. Braat tells ShippingWatch.
Maersk's towage operator Svitzer has appointed Gareth Prowse as global head of decarbonization. Prowse joins the firm from marine coatings manufacturer Hempel and will be responsible for a new sustainability strategy at Svitzer.
Sea Connect, based in Lithuania, will become part of Icelandic firm Samskip, which is expanding its activities in the Baltics. It expects freight volumes to particularly increase on the route to Russia via Rotterdam.