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.
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.
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.
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.
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.
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.
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."
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.
Norwgian dry bulk operator Belships expands its fleet with an Ultramax vessel and expects to receive five newbuilds in the third quarter of 2021.
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.
After losses in 2020 and the first months of 2021, wind carrier Ziton has been unable to comply with the requirements in the company's loan agreements. Last year, Ziton canceled a share issuance, but the company is now resuming its search for fresh capital. "The capital market has changed since then," the CEO tells ShippingWatch.
Container carriers' high season, July and August, in which Christmas goods, among other things, are freighted, is set to be extended due to a chaotic market, estimates Hapag-Lloyd CEO Rolf Habben Jansen. Empty inventories can further worsen bottlenecks.
In collaboration with Copenhagen Malmö Port, DFDS is setting up a shore power facility at the ferry terminal in Copenhagen. The new facility will benefit the environment by limiting exhaust gases while in port.
Greek shipowner Costamare enters dry bulk with an acquisition of 16 dry bulk vessels. "We have decided to invest in a liquid sector with strong fundamentals," says Chief Financial Officer.
The explosion in freight rates can no longer be absorbed in the smallest shippers' transport budget. Cobi Rehab is one of the companies that is seeing its finances strained. Meanwhile, the situation in Yantian is getting worse, with ensuing consequences for each passing day.
The Sri Lankan government has made the first compensation claim against X-Press Feeders, owner of X-Press Pearl, which burned and sank off the Sri Lankan shore three weeks ago. This is only the initial claim, says chair of the Marine Environment Protection Authority to ShippingWatch.
A consortium of large companies such as Bunker Holding, Wärtsilä, Holder Topsøe and Ørsted will explore the possibilities for using Bornholm, a Danish island in the Baltic Sea, as a "green gas station".
Maersk appoints a new head of APM Terminals in Asia. In addition to the leadership change, the port company's regional headquarter is moving from Hong Kong to Singapore, the company informs.
Robert Uggla has acquired larger holdings in several companies through his personal venture, Agata, and his gains are clearly reflected in the company's latest financial report.
Norwegian shipping investor Tor Olav Trøim is launching a new dry bulk venture, Himalaya, with investments in 12 newbuilds, writes Finansavisen.
The shutdown in critical port Greater China Yantian has sparked a shortage of empty 40-feet containers, while the line of vessels waiting off the port is growing despite partial reopening of the western port, writes Maersk.
The chemical tanker market is headed for an upturn that will last for two to three years, with strong growth expected as early as the second half of the year, said CEO Kristian V. Mørch during Odfjell's capital markets day, adding that he wants the port terminal business to grow considerably.
German container carrier Hapag-Lloyd plans to set specific targets for the company's schedule reliability next year, says CEO. The service level bottomed during 2021, and the industry is currently undergoing "its worst operational crisis in many years."
Through to Monday, the IMO's Maritime Environment Protection Committee will deal with climate issues that divide member nations around the world: How can shipping contribute to the reduction of carbon emissions by 2030? ShippingWatch outlines the most likely scenario.
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