Thursday’s board election at tanker operator Euronav may determine the fate of the large-scale merger with Frontline. The newly elected board will have to reconfirm the merger, states Euronav CEO to ShippingWatch.
Shanghai, which has been shut down for weeks and caused chaos in logistics chains, is heading for a gradual return to normal. But it could take significantly longer before container traffic sees stability return, says shipping analyst.
The technology available for carriers currently fits freight ships better than ferries, according to DFDS. The carrier thus expects to launch ’green’ freight vessels first and will soon choose which fuel to bank on, says top exec.
Tanker carriers Euronav and Frontline, which are planning to merge, have different climate targets at present. Frontline is doing well within ESG but doesn’t sufficiently communicate its results, Euronav CEO tells ShippingWatch.
The HHLA terminal in Odesa is closed due to the war in Ukraine and has caused a drop in container throughput at the German port operator’s international terminals. However, the company’s business did improve in the first quarter.
Elevated oil prices will lead to multi-year surges in the investments of the oil and gas industry, forecasts hotel rig firm Prosafe, which books a positive operating result for the year’s first quarter in the wake of increased activity.
Bimco estimates that Russian coal could be on its way to India as the country’s coal inventories reach critical levels. Trade is expected to accelerate especially as of mid-August, when the EU’s ban on Russian coal imports will have come into full force.
The container market has peaked after a long period with extraordinarily high freight rates, assesses Hapag-Lloyd. But this doesn’t make the German carrier doubt the durability of its long contracts, says CEO Rolf Habben Jansen to ShippingWatch.
A majority of the EU Parliament wants to send income from CO2 quotas back into shipping. ”The important thing is that the money [...] will not be gone but given back,” states central German negotiator to ShippingWatch. ECSA supports the proposal.
The world’s largest provider of container ships, Seaspan, has a fleet, or has ordered ships for its fleet amounting to a capacity approaching 2 million teu, according to the financial report of its parent company.
Last year’s improvements at Scan Global Logistics continued in the first quarter, prompting the logistics firm to up its outlook for 2022’s operating result. Meanwhile, the company confirms a potential ownership change.
When Covid was at its highest in 2020, up to 400,000 seafarers were stranded on their ships, unable to return home. Repercussions of this crew crisis may be long term, also for safety onboard vessels, forecasts new report.
The container line reports an extraordinary start to 2022, with an operating result of USD 5.3bn in the first quarter. CEO Rolf Habben Jansen also expects a strong second quarter, although there have been initial signs that the market has peaked.
Shanghai’s lockdown intensifies pressure on supply chains. The uncertain market is an ”extreme challenge,” says CEO from logistics company NTG. Hapag-Lloyd only brings half of the usual freight volumes out of the major Chinese city.
Ferry operator DFDS benefits from competitor P&O Ferries’ crisis, significantly increasing its traffic on the English Channel. And the P&O crisis might provide DFDS with other advantages, says CEO Torben Carlsen.