The Baltic Exchange’s main sea freight index gained on Friday as the capesize index hit an over two-month peak, offsetting losses in the panamax segment that posted biggest monthly fall in 18. The index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, gained 78 points, or 2.4%, to …
Baltic index gains; panamax ends worst month in 18 Read More »
The global economic recovery is still on track, but it is being skewed more heavily towards advanced economies who are being buoyed by fiscal support, access to vaccines and improved health metrics, according to the International Monetary Fund (IMF). Referencing widening fault lines in its July World Economic Outlook (WEO), the IMF said that while …
‘Widening fault lines’ unbalance global recovery Read More »
Commercial shipping is the backbone of international trade. In terms of tonne-miles maritime transport makes up by far the largest share of total global transport. In 2015 maritime transportation represented 71% of total transport. While shipping is a carbon efficient mode of transportation, concerns have been raised about the greenhouse gas emissions associated with the …
Drewry’s composite World Container index increased 4% or $344 to $9,330.28 per 40ft container. Our detailed assessment for Thursday, 29 July 2021 • The composite index increased 4% or $344 this week, and also, remains 368% higher than a year ago. • The average composite index of the WCI, assessed by Drewry for year-to-date, is …
Drewry: World Container Index up 4% Over the Past Week Read More »
The Cyprus Chamber of Shipping doesn’t think that the EU’s package to decarbonise shipping will simply prove effective. The “Fit for 55” package is a set of proposals to revise and update EU legislation in an effort to reduce greenhouse emissions by 55 per cent by 2030. The chamber acknowledges, in a recent statement, the …
Cyprus Chamber of Shipping says EU emissions package won’t work Read More »
Predictions of a seafarer shortage by 2026 highlight the importance of prioritising competencies and skill building, says Danica Crewing Specialists. Managing Director Henrik Jensen warns: “We need to act now to enhance training, knowledge and leadership skills to bring more officers to the desired level and address any shortfalls, while also future-proofing our workforce.” Adding …
ITOCHU Corporation – headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU” – has this week established a joint study framework of 23 companies and organizations with the objective of collaboratively discussing common issues in pursuit of the utilization of ammonia as an alternative marine fuel. Recently, 11 companies and organizations have joined …
“As travel and economic activity continue to recover, we have seen volumes improve across our businesses and are optimistic about increasing demand for the balance of the year,” stated Michael J. Kasbar, chairman and chief executive officer of World Fuel Services Corporation. “We have also been positioning ourselves to best serve the needs of our …
World Fuel Services Corporation Reports Second Quarter 2021 Results Read More »
Matson, Inc. (“Matson” or the “Company”) (NYSE: MATX), a leading U.S. carrier in the Pacific, today reported net income of $162.5 million, or $3.71 per diluted share, for the quarter ended June 30, 2021. Net income for the quarter ended June 30, 2020 was $32.8 million, or $0.76 per diluted share. Consolidated revenue for the …
Matson, Inc. Announces Second Quarter 2021 Results Read More »
The worldwide economic upswing following pandemic year 2020 had a significantly positive impact on the revenue and results of PALFINGER AG in the 1st half of 2021. Revenue in the first six months rose by 21.1 percent to EUR 884.1 million. Despite the cyberattack in January, EBIT increased by 137.8 percent to EUR 92.1 million …
Half-Year Net Result in 2021 Clearly Exceeds the Net Result of Record Year 2019 Read More »
