Drewry’s composite World Container index increased 7.1% or $408 to $6,135.44 per 40ft container. Our detailed assessment for Thursday, 20 May 2021 The composite index increased 7.1% or $408 this week, and also, remains 297.8% higher than a year ago. The average composite index of the WCI, assessed by Drewry for year-to-date, is $5,193 per …
Drewry: World Container Index Up 7.1% During the Past Week Read More »
The Maritime Safety Committee 103 meeting (MSC 103) of the International Maritime Organization (IMO) was held 5 to 14 May 2021. Several important decisions were made that will affect shipowners directly. These include upcoming changes to fire safety systems on board to help prevent fires, as well as changes to the search and rescue manuals …
IMO’s safety committee approves measures to improve safety on board ships Read More »
Japanese shipping company Mitsui OSK Lines (MOL) said this week it will accelerate efforts to build a global supply chain of cleaner marine energy using fuels such as hydrogen and ammonia as the world heads toward carbon neutrality by 2050. “Decarbonizing ship fuel is one of our main goals,” Kenta Matsuzaka, senior managing executive officer …
Japan’s Mitsui OSK to step up hydrogen and ammonia business Read More »
First Quarter Report For the quarter ended 31 March 2021 HIGHLIGHTS For the First Quarter of 2021 • Revenue for the quarter: US$16 million • Net profit for the quarter: US$5 million • Basic earnings per share: US$0.048 • Gearing ratio as at 31 March 2021: 12% First Quarter Report 2021 1 The Board of …
Jinhui Shipping and Transportation Reports First Quarter Net Profit of $5 Million Read More »
GC Rieber Shipping’s reported operating income of NOK 24.5 million in the first quarter 2021, compared with NOK 44.4 million in the corresponding period of 2020. EBITDA was negative NOK 31.0 million, compared with an EBITDA of negative NOK 62.1 million in the first quarter of 2020 which included a non-cash gain of NOK 52.6 …
HMM projects strong growth will continue through 2023 thanks to sturdy container freight rates. The company’s optimism is seconded by some industry analysts. “Containership freight rates, now at record highs, may [temporarily] see corrections but are unlikely to plunge before 2023, when new vessels are scheduled to be delivered,” said a spokesperson for HMM during …
HMM’s earnings surprise isn’t a flash in the pan Read More »
The Committee of the London Maritime Arbitrators Association (LMAA) elected David Steward, independent Arbitrator and Mediator, as its new President to succeed outgoing Bruce Harris following the LMAA’s AGM on 19 May. “It has been a huge pleasure serving under Bruce on the LMAA Committee this past year and learning from his huge wealth of …
Several new energy transition developments in the offshore energy and maritime sectors have made headlines this week, contributing to the global 2050 net-zero targets and – at least to some extent – to the ambitious path that International Energy Agency (IEA) mapped in its latest report. Climate pledges by governments to date, even if fully …
In focus: Industries take new emissions-free steps as IEA maps net-zero path Read More »
German offshore wind operator has issued a contract notice for repair works on transition pieces across a wind farm in the German North Sea. The contract is scheduled to start in October 2021 and be completed by the end of April 2022. Premium content You are currently not logged into your account. Register and get …
Transition piece defects beset German offshore wind farm Read More »
Oil and gas company Lundin Energy Norway has been given a drilling permit to drill a new wildcat well in the North Sea, offshore Norway. Under the permit, given to Lundin by the Norwegian Petroleum Directorate (NPD), the well will be drilled in production license 167 using Odfjell Drilling’s Deepsea Stavanger semi-submersible drilling rig. Lundin …
Lundin cleared to drill well near Ivar Aasen field Read More »
