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Australian Coal Wins Attention, But Indonesian Exports To China Have Fallen The Most

There has been much talk in recent weeks and months about Chinese coal policy, particularly with regard to imports from Australia, after anecdotal evidence suggest Chinese importers have been told to shun Australian thermal coal. But what does the data say? Chinese coal imports were certainly down in October, falling to 13.7 million tonnes from …

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Exotic Fruit To Drive Growth In The Reefer Shipping Trade

Growth in the reefer shipping trade has been largely driven by soaring demand for proteins into swine flu-ravaged Asia, but this trend is expected to recede as domestic pig stocks recover. Future growth is expected to come from accelerating trade in exotic fruits, thanks to new technology which is lengthening potential shipping distances and opening …

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Wall Street’s incredible shrinking shipping stocks

The news is brimming with stories on businesses that are “dead men walking.” Movie theaters. Cruise lines. Retail outlets. Event organizers. Big-city offices. Ocean shipping doesn’t fall in this category — there’s no existential threat to transporting cargo by sea. Yet the travails of 2020 raise the question: Do shipowners still have a long-term future …

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SSI launches updated Roadmap to guide shipping through its sustainability journey

The Sustainable Shipping Initiative (SSI) announces the launch of the updated Roadmap to a sustainable shipping industry, a resource for stakeholders across the shipping value chain to navigate the major, pressing sustainability challenges facing the industry. There is a clear need to reshape the way shipping operates in the face of current and future challenges: …

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Singaporean Shipping Company Fined $12 Million in a Multi-District Case for Concealing Illegal Discharges of Oily Water and Garbage and a Hazardous Condition

Pacific Carriers Limited (PCL), a Singapore-based company that owns subsidiaries engaged in international shipping, was sentenced today in federal court before U.S. District Court Judge Louise Flanagan in New Bern, North Carolina, after pleading guilty to violations of the Act to Prevent Pollution from Ships, obstruction of justice, and for a failure to notify the …

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US$ LIBOR – Some breathing space

Lenders and borrowers should be somewhat relieved to hear that US Dollar LIBOR (USD LIBOR) has had a bit of a reprieve. As we reported in our previous article, ICE Benchmark Association Limited (IBA), the Financial Conduct Authority (FCA), other official sector bodies and the panel banks have been discussing the future of USD LIBOR …

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Soren Toft starts his CEO role at MSC

Soren Toft started his new role as Chief Executive Officer of Mediterranean Shipping Company (MSC), the world’s second-largest container shipping firm, on December 2, 2020. He reports directly to Diego Aponte, MSC Group President, and Gianluigi Aponte, Founder and MSC Group Chairman. In his role as CEO, Soren Toft oversees MSC’s global cargo businesses including ocean liner and logistics. He will also be …

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Celsius charters LNG tanker trio to Cheniere

Celsius Tankers, a unit of the Copenhagen-based Celsius Shipping, has found work for its newbuild trio of ultra-eco LNG carriers. Courtesy of Celsius Tankers The company said it has agreed to deploy the three LNG tankers under a charter deal with Cheniere Marketing International. Each vessel will be deployed for a period of up to …

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Prysmian invests €450M to tackle carbon emissions

Italian cabling giant Prysmian has announced plans to accelerate the race to net-zero CO2 emission during its recent “Sustainability Day”. Courtesy: Prysmian Its project aims to set science-based carbon reduction targets for the Prysmian Group, and will consider both Scope 1&2 (own organization) and Scope 3 (value chain) GHG emissions. Prysmian gets support in the …

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Rem Offshore finds work for one more PSV with Apache

Norwegian shipping company Rem Offshore has been awarded another contract for a platform supply vessel (PSV) from Apache in the UK North Sea. According to VesselsValue, the company was awarded a one-year contract extension plus two yearly options for the Rem Insula. The data provided implies that the deal will start on 1 January 2021 …

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