Norwegian shipyard operator Ulstein Group saw revenue losses of NOK 900 million, yet still managed to improve operating earnings in comparison to 2019, the annual report shows.
Nine unions representing Argentine port workers have announced a 24-hour strike in protest against the lack of access to coronavirus vaccines. The strike takes place amidst a new coronavirus outbreak in the country, which is a major dry bulk exporter.
Hapag-Lloyd and ONE continues to be absent on the digital platform Tradelens even though they announced they would join two years ago. "We are hopeful that they will be joining very soon," says Head of Tradelens Mike White. Hapag-Lloyd expects to make a decision soon.
In partnership with power companies BKK and Lyse, oil and gas giant Shell announces its intention to bid for offshore wind development licenses on the Norwegian continental shelf.
Maersk and IBM's digital venture Tradelens has teamed up with a state-owned Chinese company to commence a roll-out in China and to attract importers and exporters. China is a vital market for the platform, which is expected to deliver revenue growth this year.
E1 Marine, owned by tanker company Ardmore, among others, will promote hydrogen as a fuel for shipping with a technology expected in the market within a year, says managing director to ShippingWatch. Other players have already written off the alternative fuel.
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Although many major players in the maritime sector point to a congested container market, rising freight rates and issues in handling megaships, the EU Commission refuses to intervene at this stage.
Hafnia and Chinese investors behind a large US-based methanol factory say that the project has been put "on hold". But ShippingWatch has learned that the company behind the billion-dollar project has given up on an environmental appeal and terminated its lease. Port director calls the project terminated.
The ports of LA and Long Beach experienced the busiest month so far in May, with continued prospects for high activity as US demand for goods does not seem to decline, estimates Bimco.
From 2005 to 2019, the effective tax rate was only 7 percent in the shipping industry. Alphaliner expects that maritime organizations will work to ensure that tonnage tax systems are not affected by the consequences of the G7 countries' new proposal for a global corporation tax of 15 percent.
Vessels operating under Danish flags rank first as far as complying with safety, health and certification regulations, according to the annual performance list Paris MoU, compiled by the international port state control. Denmark tops the white list, followed by Norway and the Marshall Islands.
Nuclear developer Seaborg recruits Maersk Drilling's strategy and business finance chief, Dominic Charnock, who served at Maersk since 2017, most recently as vice president. The new employer has the potential to help mitigate climate change and provide "energy fairness", says the newly appointed CFO.
The USTC group's logistics company, now called SDK Freja after a major acquisition last year, reports significant progress in the latest financial report. The company is now aiming for "a number of specific acquisition opportunities," says CEO.
An international bank account that serves as a wage account and that seafarers can use for withdrawals and transfers could help lower the risk of piracy and fraud, says organization Secure Seas, which set up the new system.
Much seems to indicate that one of the two smallest models will be proposed for EU's CO2 quota system and that the large ETS system is no longer on the table. The industry should not expect the money to return however, according to ShippingWatch's information.
Coal is in high demand in China, and by all appearances, the appetite for coal will not abate in the coming months, benefiting dry bulk operators. Norden and Lauritzen note how the Chinese coal policy – in addition to its import ban from Australia – serves to strengthen an already strong market. Clarified.
The IMO's 2030 plan is drawing fierce criticism from operators and maritime leaders, all agreeing that the deal in no way contributes enough to reduce the level of carbon emissions. The IMO is past its prime as a regulator, says maritime senior executive.
The two companies now limit the scope of the large transportation agreement signed early last year. DSV Panalpina's CEO declines to comment on the economic significance of this, also dispelling the notion that any of the parties were dissatisfied with the collaboration.
The port of Yantian is gradually reopening, and the terminals are on their way to an operation of 70 percent, according to Kuehne+Nagel. However, the line of ships is growing and the situation is expected to have a greater effect on the container market than the Suez blockage.
Dan-Bunkering, which is part of Torben Østergaard-Nielsen's USTC group, increased its earnings before tax by 28 percent for the latest fiscal year. The bunker company saw a significant rise in volumes, particularly in the Asian market, despite a drop in global demand.
Dry bulk and tanker operator Norden plans to sell bonds for USD 100 million. Net proceeds will be used for "attractive business opportunities mainly within the dry cargo market."
If Poseidon Principles is to support shipping in living up to the Paris Agreement, the banks behind the principles need to aim much higher than the IMO targets that the principles currently adhere to, says scientist to ShippingWatch. BW LPG and Klaveness have called the principles too unambitious.
Clipper subsidiary Clipper Group, consisting of ro-ro carrier Seatruck Ferries, saw a loss of USD 7.1 million in 2020 due to a tax bill and currency losses from a Euro loan in the ro-ro carrier.
US drilling company Transocean has entered contracts for two rigs in Norway. The work commences in the first quarter next year and has an estimated value of USD 116 million.
Brazil, India, Russia, China and Saudi-Arabia have succeeded in insisting on a carbon plan that several nations and green NGOs have describe as utterly unambitious. The MEPC meetings are thus far characterized by severe disagreement and organizational chaos.
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