We welcome the progress made during these intensive negotiations to achieve net zero emissions from shipping, and the support received from around 60 Member States for a flat rate contribution system per tonne of GHG. The purpose of the proposed system, put forward by the International Chamber of Shipping (ICS), is to reduce the cost …
Fuel oil benchmarks in Asia ended the week on a steady note as high onshore stockpiles across key trading hubs capped recovery. Inventories for fuel oil extended gains across all key hubs including Singapore, Fujairah and Rotterdam, based on data this week. The Asia region has been awash with incoming supplies this month, based on …
Asia Fuel Oil-Benchmarks steady, high stockpiles at key hubs cap recovery Read More »
Drewry’s World Container Index decreased by 5% to $3,010 per 40ft container this week. Our detailed assessment for Thursday, 21 March 2024 The composite index decreased by 5% to $3,010 per 40ft container this week and has increased by 71% when compared with the same week last year. The latest Drewry WCI composite index of …
Drewry: World Container Index Down by 5% Last Week Read More »
Yesterday, Svitzer A/S (Svitzer) has published a prospectus forming the basis for admission to trading and official listing of the shares of Svitzer Group A/S (Svitzer Group) on Nasdaq Copenhagen, following the expected demerger of A.P. Møller – Mærsk A/S’ (APMM) towage and marine services activities. The demerger is subject to approval at APMM’s extraordinary …
Svitzer Publishes Prospectus Related To Listing On Nasdaq Copenhagen Read More »
Shipping company Maersk said on Friday it was too early to resume sailings through the Red Sea due to a continued elevated risk level, despite an initiative by the European Union to increase safety in the region. Maersk, one of the world’s biggest container shipping companies, suspended Red Sea traffic on Jan. 5 and has …
Maersk will avoid Red Sea despite EU security operation Read More »
Effective from April 2024, CMA CGM will operate NRX (North Red Sea Express), a joint upgraded service connecting Saudi Arabia Jeddah Islamic Port to NEOM, North Red Sea ports of Sokhna in Egypt, Aqaba in Jordan and Yanbu in Saudi Arabia, expanding logistic capabilities in the North Red Sea and reinforcing Saudi Arabia’s growing strategic …
With reference to Company Announcement no. 22 dated 09 November 2023 where TORM plc (“TORM”) announced the acquisition of eight LR2 product tanker vessels, TORM plc has increased its share capital by 570,006 shares (corresponding to USD 5,700.06) as a result of the delivery of the seventh of the eight LR2 vessels. The new shares …
TORM plc capital increase in connection with delivery of one 2011-built LR2 vessel Read More »
U-Ming Marine Transport (S) Pte Ltd (U-Ming), a subsidiary of Taiwanese-listed U-Ming Marine Transport Corporation (2606.TW; headquartered in Taipei, Taiwan; President & Director, Mr CK Ong), announced today that it has signed a Memorandum of Understanding (MoU) with ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President and COO) to explore discussions on jointly owning …
IMTRA, the leading manufacturer and importer of quality solutions and products for the marine, energy and transportation markets, announced today their receipt of the 2024 award for Employee-Owned Company of the Year. Presented by the New England Chapter of the ESOP Association, the award honors a company that shows a strong commitment to employee ownership. …
IMTRA Recognized As Employee-Owned Company Of The Year Read More »
The 18th Asia Pacific Maritime (APM), held from 13-15 March 2024, welcomed an unprecedented number of 15,717 attendees in Singapore. This figure surpassed attendance records of previous editions, signifying a positive revitalisation of Asia Pacific’s maritime sector and solidifying Singapore’s position as a leading maritime hub. Held at the Marina Bay Sands, the event showcased …
Asia Pacific Maritime 2024 Sets New Record With Highest Attendance To Date Read More »
