The long-awaited recovery of the tanker market finally materialized at the end of 2019, across all market segments, according to the CEO of Concordia Maritime, Kim Ullman. Announcing the company’s quarterly results, Ullman said that 2019 started with a weak market which took a further tumble as the year progressed before making a sharp upturn…
World’s major cruise liner companies have pulled their planned sailings from Shanghai amid efforts to mitigate the potential spread of the coronavirus. “Due to urgent guidelines from the Chinese government to combat the spread of the coronavirus, MSC Cruises is required to cancel the upcoming cruise with MSC Splendida on January 28. Guests booked on…
Empty containers are piling up in Shanghai, the world’s biggest port, according to the data from xChange, a Germany-based startup focusing on the repositioning of containers. “The Container Availability Index shows relatively high values for 40 High Cube containers (0.58), 40 Dry Cargo containers (0.46) and 20 Dry Cargo containers (0.62),” xChange said commenting on the impact of…
India plans to increase import duties on more than 50 items including electronics, electrical goods, chemicals and handicrafts, targeting about $56 billion worth of imports from China and elsewhere, officials and industry sources said. Finance Minister Nirmala Sitharaman could make the announcement when she presents her annual budget for 2020/21 on Feb. 1, along with…
Germany’s Port of Hamburg said it is not expecting a reduction in container throughput caused by liner service changes announced by Ocean Alliance and Maersk. Starting from April 2020, the Ocean Alliance’s NEU 5 service handled by Eurogate Container Terminal Hamburg (CTH) is being transferred to Antwerp. This service will be run by the Ocean Alliance partner…
The Clean Arctic Alliance, a coalition of non-governmental organisations working for a ban on heavy fuel oil from Arctic shipping, is calling for action on discovering how did new blended low sulphur shipping fuels that have high black carbon emissions end up on the market. The discovery was revealed in a submission made by Germany and Finland…
Dutch shipowners will now be able to benefit from a newly-inaugurated EUR 250 million (USD 275.5 million) fund, the NesecShipping Debt Fund. The fund provides mortgage-backed loans for short-sea vessels, and it is partly backed by the Dutch state. It has attracted interest from institutional investors such as the Nederlandse Waterschapsbank, the Province of Groningen…
Hamburg-based multipurpose shipping company United Heavy Lift GmbH (UHL) has taken over a heavy lift fleet of nine Zeamarine eco-friendly F900 newbuilds and purchased an additional two 12,000 dwt vessels. The F900 ships in question are UHL Falcon, UHL Flash, UHL Fortune, UHL Future, UHL Fame, UHL Fast, UHL Focus, UHL Frontier and UHL Fusion,…
Swedish engineering solutions provider Alfa Laval has become the newest member of the Getting to Zero Coalition, a coordinated effort to fight climate change by introducing zero-emission vessels by the year 2030. Alfa Laval said it is committed to reaching this vital goal, which is key to decarbonizing the global shipping industry and reaching the International…
Denmark has presented a new initiative aimed at increasing the share of women in Danish shipping companies. Today, the first fourteen shipping companies will sign a charter that obliges them to actively focus on gender equality, Danish Shipping, a trade and employer organization for more than 90 shipowners and offshore companies, said. As informed, the…