As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more and more opportunistic hackers and cybercriminals are taking advantage of the chaos caused by the pandemic and the subsequent surge in remote operations to target shipping. And there is proof that …
BIMCO has started work to develop a new Law & Arbitration Clause. The new clause will provide a short and “one size fits all” approach to dispute resolution, while adding Hong Kong as the fourth named arbitration venue. The addition of Hong Kong reflects its increased popularity as a centre for dispute resolution and that …
As we move past seven weeks in lockdown in the UK, and China, along with lesser affected countries like Germany, start to ease their virus-controlling measures, the worry out there this week has been about the potential for a second wave. By this we don’t mean a revival of French cinema’s grappling with social and …
For decades Singapore has been the gateway to Asia, a major hub offering bunkering as well as other various shipping services. There have been a number of attempts to rival it, particularly when it comes to bunkering, however bunker sales in Singapore remain strong, at around 50 million tons per annum out of the global …
Trade association Interferry welcomes the European Commission’s guidance on the gradual relaxation of travel restrictions during the COVID-19 pandemic and relaunching of transportation links that will go into effect in advance of this summer’s travel and tourism season. Earlier, Interferry had issued its own ‘best practice’ guidelines for the safe resumption of passenger ferry services …
Interferry welcomes easing of travel restrictions in advance of summer travel Read More »
For the first quarter of 2020, Hapag-Lloyd recorded earnings before interest and taxes (EBIT) of USD 176 million (EUR 160 million), which is below the corresponding prior-year figure of USD 243 million (EUR 214 million). The Group net result declined to approximately USD 27 million (EUR 25 million). Earnings before interest, taxes, depreciation and amortisation …
Commercial outperformance in challenging times HIGHLIGHTS • Operating income of USD 33.6 million (Q1 2019: USD 31.1m) • EBITDA of USD 4.9m (USD 10.1m) • Net result of USD 0.2m (USD 2.5m) • Net TCE earnings per ship of USD 8 636 per day versus BSI index of USD 6 232 net per day • …
Thoresen Thai Agencies Plc. (TTA) reported that its consolidated revenues decreased year-on-year by 11% and quarter-on-quarter by 21% to Baht 3,295.8 million and consolidated net losses of Baht 459.2 million in 1Q/2020 due to typically low season, the impact of COVID-19 pandemic, and the adoption of new accounting standard. Shipping, Offshore Service, Agrochemical, and Investment …
You may have read those Kafkaesque stories about seafarers marooned on cargo ships month after month, unable to go home at the end of their work contracts due to COVID-19 travel restrictions. You may have thought, “How unfortunate,” then turned your attention back to your own pressing business problems amid the pandemic. A crisis for …
Stranded crew crisis is ticking time bomb for global trade Read More »
Yang Ming Marine Transport Corporation (Yang Ming) held its 346th Board Meeting on 13th May to approve its Q1 financial report of 2020. The consolidated revenues of Q1 totaled NTD 34.64 billion (USD 1.15 billion), decreased 1% compared with NTD 35.08 billion (USD 1.14 billion) in revenue from the same period of previous year. The …
Yang Ming Announces Financial Status for 2020 Q1 Read More »
