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Collaboration is key – ESG Focussed joint ventures are on the rise in shipping

On 23 March 2023, we published part two of ‘The Sustainability Imperative’, our multi-layered investigation into the impact of environmental, social and governance (“ESG”) considerations on the shipping industry. “One of the key findings in ‘The Sustainability Imperative – Part 2’ is that shipowners have become more collaborative. In 2021, two-thirds said they would like …

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FBX Index April 2023: Seeping markets and new moving parts

Essentially the container shipping markets continued the declining trend which has been defining the market since autumn 2022. From that perspective the past month was not surprising at all. Demand remains weak and carriers continue to cancel planned sailings. But despite the multitude of blank sailings, the actual capacity reduction remains insufficient. On the Asia-North …

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OPEC+ throws tanker shipping a curveball, shaking confidence

“In classic Murphy’s Law fashion, shipping seems prone to misfortune,” lamented Stifel analyst Ben Nolan in the wake of Sunday’s surprise OPEC+ production cuts. “Things could not have been going more right for the tanker market” until OPEC+ gave tanker owners and investors a “poke in the eye.” “OPEC+ blindsided oil and tanker markets,” said …

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Shipowners need to enhance energy efficiency by 55%-60% by 2030: UMAS

Shipowners and maritime regulators should aim for significant improvement in energy efficiency and cut fuel consumption by 2030 to align with the Paris Agreement’s climate goal to limit global warming above 1.5 degrees Celsius above pre-industrial levels, maritime advisory service UMAS said April 5. In November 2022, nonprofit Science Based Targets initiative said greenhouse gas …

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Corporate well-being provider OneCare Solutions calls for serious attention to issues surrounding menopause at work

During a series of workshops and Q&A sessions, recently hosted by leading well-being provider OneCare Solutions, under their corporate wellness programme, one clear theme emerged: Menopause at work must be taken more seriously in the corporate environment. “Women above 40 are the fastest-growing demographic in the workplace and are often in leadership positions while also …

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Wärtsilä adds to its NACOS Platinum System with a new solution to ensure business continuity during software-related incidents

Technology group Wärtsilä has launched a new Fast Recovery tool that will ensure customers’ business continuity in the event of a software-related incident. The system will enable customers to reduce reputational and financial damages, minimise downtime, and recover the bridge and/or automation systems’ direct and indirect costs. The tool will be made available as part …

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MOL President & CEO Hashimoto Addresses Company’s Entrance Ceremony- ‘Take on a global and multifaceted challenge!’

Mitsui O.S.K. Lines, Ltd. announced that on April 1, it welcomed 90 new employees (new graduates at sea: 14; new graduates on land: 44; career recruits at sea: 1; career recruits on land: 31). President & CEO Hashimoto delivered the following message at the entrance ceremony on April 3. I am very happy to welcome …

MOL President & CEO Hashimoto Addresses Company’s Entrance Ceremony- ‘Take on a global and multifaceted challenge!’ Read More »

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