Just under half of Poseidon banks meet the IMO’s target
The glass is less than half full when the banks behind the Poseidon Principles decide whether their shipping portfolios meet the IMO’s climate target, but Michael Parker, chair of the Poseidon Principles Association, is still optimistic. Covid-19 has slowed down the work, but there is clear progress.
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.
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.