Shipping group Stolt-Nielsen has put it plans on pursuing an independent listing of its tanker shipping company on hold for now. Investor interest in shipping is a significant reason, CFO tells ShippingWatch.
The funds will not be used for more vessels, but what then is Maersk planning to spend the estimated USD 30 billion in its war chest on following the announcement that the full-year result in 2021 will be significantly higher than what was expected just a couple of months ago?
Record-high freight rates and pressure in the container market push up consumer prices. For example, it is now 25-40 percent more expensive to build a new house, says the CEO of Scan Global, while also pointing to other factors in the upward tendency.
The shadow war between Iran and Israel has until recently been kept off the seas, but with events now also taking place in the maritime domain, the "shadow war" could pose a threat to shipping companies. According to a new report, attacks are becoming less careful and more risky.
Drilling major Valaris, recently restructured, exits the second quarter with a billion-dollar net loss, largely due to impairments and other costs. But demand improves on the back of pandemic-related downturn, says the CEO.