Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.
The shipping major is in a good position in negotiations with customers even though demand for container freight is declining, says CEO Søren Skou.
World Marine Offshore has been sued by a former partner after the company ran away from a deal regarding a major wind farm in the US. CEO deems the case ”unfounded”.
Demand on the majority of busy container routes is now at its lowest level in three years, an influential analyst bureau reports, saying volumes may continue to plummet beyond the Chinese New Year in February.
A vessel loaded with LNG has for the first time sailed directly from Australia to Europe, illustrating how Russia’s war has altered world trade patterns.
An alleged pirate, who lost a leg in relation to combat, has been found guilty of putting lives of Danish soldiers at risk. But the man avoids sentence.
The outlook for the container market looks somewhat more gloomy, estimates French CMA CGM. However, the container shipping company still recorded growth on top and bottom lines in Q3.
With a new scheme, Ukraine intends to send up against 60 dry cargo vessels loaded with grain to poor and famine-stricken countries leading up to the spring of 2023.
Ceva Logistics, which is owned by shipping major CMA CGM, advanced on several parameters during Q3. Profitability was not able to follow suit, though.
If the ongoing truck driver strike leads to a financial crisis, the South Korean government is prepared to halt the labor actions, says the country’s interior minister.
CII: Lauritzen Bulkers opposes a new legal clause placing responsibility for the upcoming CII regulation with operators. CEO doubts the clause will be put to much use, though.
The pace of declines in rates on the container market’s Asia-Northern Europe routes has increased, the WCI index shows. Shipping analyst Lars Jensen describes this as a ”hard landing” for the market.
South Korea is talking to several potential buyers of a stake in the state’s ownership of major container liner HMM, according to a media outlet, which also names said buyers.
Nigeria’s foreign ministry demands the possibility of prosecuting the Danish soldiers involved in the exchange of fire with alleged pirates in the Gulf of Guinea in November last year.
The Port of Cuxhaven, the center of German offshore wind, is running at full capacity, and the country needs additional ports for the planned offshore wind build-out.
In a new update, classification firm DNV assesses that it’s cheaper to build container vessels sailing on methanol compared to liquefied natural gas.
The EU is working on landing a price cap on Russian oil, which the union plans to implement in collaboration with G7 nations, but negotiations are dragging out.
Container traffic has dropped by 40 percent in South Korean ports after thousands of truck drivers went on strike Thursday.
Net profit of Norwegian Avance Gas declined in Q3, but the gas carrier’s chair is optimistic about fourth-quarter prospects.
The European freight market is still under pressure, prompting the German freight forwarder to increase freight rates on road transportation.
CII: Monitoring six vessels’ voyages at sea illustrates the absurdity of IMO’s new climate rules, CII, which come into force on Jan. 1. The most polluting ship receives the best score.
Dee4 Capital Partners, spearheaded by former Norden and BW Group CEO Carsten Mortensen, is in the process of raising capital for a new shipping fund, ShippingWatch has learned.
The former managing director has stepped down for family reasons, and APM Terminals has found a replacement within its own ranks.
The global logistics sector will not escape the economic downturns of 2023, two analyst bureaus predict.
Negotiations about the exact composition of the EU’s price cap on Russian oil are dragging out, which suggests views differ among union members.
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