The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, slipped on Friday as rates for the capesize vessel segment weakened. The Baltic dry index fell 9 points, or 0.8%, to 1,115, its lowest since June 16. The index lost 6% this week, its sixth consecutive weekly fall. The …
“ COVID-19 has turned the world upside down,” states Knut Ørbeck-Nilssen, “the way we work, the way we communicate and the way we live. Who could have imagined the transformation in store just seven or eight short months ago?” “A line has been drawn in history,” he continues, pausing to reflect (as we all have), …
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff stepped up a notch last week when a $5 trillion valued institutional investor group made up of many of the world’s largest insurers and pension schemes warned the …
The composite index increased 2.8% this week, and 93.1% up when compared with same period of 2019. The average composite index of the WCI, assessed by Drewry for year-to-date, is $1,944 per 40ft container, which is $465 higher than the five-year average of $1,478 per 40ft container. Drewry’s composite World Container index increased by 2.8% …
Drewry: World Container Index Up 2.8% On Week and 93.1% Year-on-Year Read More »
The maritime industry has no time to waste if it is to meet the International Maritime Organization’s ambition of at least halving emissions from international shipping by 2050. It will require commercially viable zero-emission vessels to be operating along deep sea trade routes by 2030. This is the goal of the Getting to Zero Coalition, …
Unlocking The First Wave Of Zero-Emission Shipping Read More »
The impact of the COVID-19 pandemic continued in the third quarter, which resulted in a decrease in revenue, adjusted EBITDA and profit of AS Tallinna Sadam (hereafter: “the Group”). In Q3 2020, the revenue amounted to EUR 31.8 million decreasing by 18.9% compared to the same period previous year. The adjusted EBITDA was EUR 19.9 …
AS Tallinna Sadam financial results for 2020 Q3 and 9 months Read More »
Yang Ming Marine Transport Corporation (Yang Ming) held its 352nd Board Meeting on November 12th, 2020 to approve the appointment of Patrick Tu, currently Chief Strategy Officer & Executive Vice President, as President & Chief Operation Officer of the company. The newly appointed president, Patrick Tu joined Yang Ming in 1992. He held a variety …
Yang Ming Announces Appointment of Patrick Tu as President & COO Read More »
Hapag-Lloyd has concluded the first nine months of 2020 with earnings before interest, taxes, depreciation and amortisation (EBITDA) of more than USD 2 billion (EUR 1.8 billion), which represents a 20.4 percent increase over the prior-year figure. At the same time, earnings before interest and taxes (EBIT) rose to USD 965 million (EUR 858 million), …
Hapag-Lloyd delivers good result in first nine months of 2020 Read More »
Trafigura AG said one of its employees had been detained in China after customs rejected and launched a probe into a cargo with “high iron content” that the trader had shipped to a major Chinese steel firm. In a post on its official Weibo account earlier this month, China’s General Administration of Customs said customs …
Trafigura says employee detained in China over cargo shipment Read More »
Yang Ming Marine Transport Corporation (Yang Ming) held its 352nd Board Meeting on November 12th, 2020 to approve its 2020 Q3 financial report. Its consolidated revenues for the third quarter totaled NTD 38.86 billion (USD 1.3 billion), up 2.83% from the same period of last year. Business volumes were down by 10.99% year-over-year to 1.28 …
