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 …
Wall Street’s incredible shrinking shipping stocks Read More »
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 …
Exotic Fruit To Drive Growth In The Reefer Shipping Trade Read More »
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: …
SSI launches updated Roadmap to guide shipping through its sustainability journey Read More »
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 …
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 …
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 …
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 …
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 …
Prysmian invests €450M to tackle carbon emissions Read More »
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 …
Rem Offshore finds work for one more PSV with Apache Read More »
ZeroNorth, a digital spin-off from Maersk Tankers, and maritime software developer Veson Nautical have entered into a strategic product partnership. The agreement will allow ZeroNorth’s vessel optimisation software, Optimise, to integrate with the Veson IMOS Platform (VIP), a solution for commercial feight management, allowing for a transfer of data for joint customers. The companies expect the native data integration to provide VIP users with tramp ships with the …
