Schedule reliability continues to worsen for container vessels, and delays in 2021 have generally been the worst so far compared to previous years, writes Sea-Intelligence.
Ferry and RoRo operator Finnlines saw growth in several areas in the second quarter of the years although the Covid-19 continues to put pressure on the passenger business. Larger cargo volumes helped boost the revenue.
Martin Fruergaard has presented his key strategy in his first public appearance as the new CEO of Hong Kong-based Pacific Basin. The dry bulk operator has posted unusually strong half-year results on the back of a market upturn that by all appearances has only just begun.
The freight market is so tense that it takes very little for it to worsen. DSV Panalpina CFO Jens Lund estimates that a market normalization may not occur until 2023. "Should another Yantian situation occur, it's all up in the air again," he tells ShippingWatch.
DSV Panalpina raises its expectations for the entire year after a second quarter where the overheated market for sea freight in particular helped push up the revenue.
Ship officers are in short supply in the global shipping industry. By 2026, shipping will see a shortage of 90,000 trained officers, warn Bimco and ICS in a new report on employment at sea.
Hapag-Lloyd has added another ten vessels to its list of upcoming newbuilds, the carrier confirms in a comment to ShippingWatch. The ships will be taken over from Greek shipowners who originally ordered the vessels, according to analyst firm Alphaliner. Updated.
Freight volumes have returned to pre-pandemic levels at six out of seven carriers, according to a survey from Alphaliner. Delays and bottlenecks in container traffic are ongoing due to problems related to Covid-19.
The upturn in other shipping segments could turn out to be a gain for the strained tanker market due to the limited capacity at shipyards, says Ardmore, while presenting a deficit for the second quarter. The Irish product tanker carrier makes predictions for the sector.
Rio Tinto raises its dividend payout to shareholders and thus returns the majority of its profit to investors, shows the quarterly report.
Thursday, when DSV publishes its report for the first six months of 2021, air and sea freight is expected to boost the revenue in the half-year period, which has been marked by record-high container rates and unprecedented pressure in the logistics chain.
Engine manufacturer MAN has been selected to supply a methanol engine for Maersk's coming CO2 neutral container vessel, scheduled to sail on green methanol in 2023.
Oil company BP enters a collaboration with Maersk's Center for Zero Carbon Shipping to develop new alternative fuels for shipping.
Environmental initiative Sea Cargo Charter, where signatories report CO2 emissions from their chartered ships, expects to raise its ambitions as soon as the first half of 2022, says chairman of the initiative Jan Dieleman to ShippingWatch.
Singapore plans to up its competitiveness within offshore and marine engineering by including factors such as climate change and the Covid-19 pandemic in the country's future plans for the sector.
Major South Korean shipyard Hyundai Heavy Industries is planning a trial voyage of the first autonomous LNG tanker carrier, which is set to sail across either the Pacific or the Indian Ocean later this year.
Surging demand from China and a historically low orderbook are driving the unprecedented upturn in the dry bulk market, which could last all the way into 2023, according to analyst firm.
A new roadmap from WHO lists seafarers as a prioritized group for vaccination. The International Maritime Organization welcomes the initiative.
Brexit is far from over for carriers, the logistics industry and small British exporters. The EU's climate proposal faces headwinds from an international shipping organization and carriers in the US. The shipping industry is on the search for alternative fuels, while the political pressure mounts.
Golden Ocean CEO Ulrik Andersen began the job just as the global pandemic took hold for real, and it reminded him of the importance of empowering employees to make day-to-day decisions rather than micro-managing them. ShippingWatch explores post-corona leadership with select chief executives.
Shipping lines should invest in green initiatives to future-proof their business, urge German NGO NABU and Dutch asset manager NN Investment Partners. Both of them are looking for investors to transform polluting companies from within.
The rates for container freight shipped from China to a number of destinations continue to surge, setting a record for the 11th consecutive week.
Contrary to concerns, Brexit went better than expected for the shipping industry. But one concern keeps nagging DFDS and the shipowners.
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The record-high volumes hitting US container ports will most likely last well into 2022, as companies are rushing to replenish their stockpiles following an uneven rebound from the pandemic.
TotalEnergies and Technip, two French energy companies, will collaborate on the development of production facilities that can produce and supply LNG with low CO2 emissions.
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