Melting ice in the Arctic is opening a new energy trade route
As ice caps melt due to some of the warmest temperatures ever recorded, a new energy trade route is opening up north of the Arctic Circle. The development alarms NGOs but represents an opportunity to shipping players such as LNG carriers.
by Jeremy Hodges, Anna Shiryaevskaya and Dina Khrennikova, bloomberg
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If customers want improved service, they will have to pay for it, says CMA CGM chief executive Rodolphe Saadé on the same day that the container liners' reliability reaches an all-time low. Hapag-Lloyd presents a new guarantee to shippers.
New gas tanker major BW Epic Kosan will especially focus on the ships of the future and the bottom line, explains Charles Maltby, who will serve as CEO of the company. The green agenda will also put a damper on consolidation in the LPG sector, he expects.
The CEO of Norway's Solstad calls on banks to take more charge of the consolidation among offshore ship operators. Without consolidation, not even rising rates will resolve the companies' woes, he says.
Transport Minister Rotimi Amaechi of Nigeria announces a three-month offensive with planes, drones and boats, in an effort to protect commercial vessels against pirates in the Gulf of Guinea. The operation will costs USD 195 million, reports Bloomberg.
Banks prefer to finance newbuilds or retrofits, said several panelists at this year's digital Marine Money conference. LNG is particularly popular among shipowners, which currently prefer to hold back on new orders.