Maritime trade may well be on the rise, but it is not being matched by the rise in premium rates that is required if the market is to be sustainable in the medium term.
Chinese bank leasing companies will continue to expand, buoyed by China’s economic growth and the rising importance of the maritime sector.
ExxonMobil Marine Fuels' technical liaison manager said that shipowners will be able to successfully switch to using low-sulphur products, but noted that the outcome rests on owners’ preparedness for the switch, as well as the technical abilities of their crews.
The US Coast Guard's Amver awards will be held during this year’s Safety at Sea awards on 18 October in London.
Following Maersk's divestment of its non-container businesses, the reorganisation of the Maersk Line brand is continuing with the restructuring of its freight forwarding business and from January, Damco will be part of Maersk’s Logistics and Services Products, the company announced yesterday.
A risk expert says that cargo theft has continued to plague South Africa, resulting in losses and derailed efficiencies, and there is a need to take remedial measures to check the menace.
The reintroduction of US sanctions will undoubtedly affect insurers and the complexity in dealing with these risks has now increased.
The Canadian market will see new maritime laws come into force in the coming year alongside new investment that will create greater demand.
Monaco-based Scorpio Bulkers has sold a pair of Ultramax bulkers for USD19 million each and leased them back from the buyer through a five-year bareboat charter agreement.
Cargo volume growth and jobs are at stake as the United States and China continue trade retaliation measures.
Equity investors focus more on the short-term earnings outlook and as the pace of recovery in shipping has fallen short of expectations, it has let many investors disappointed, while in the bond market, the situation is different.
The number of dry bulk carriers ordered up to the end of August has risen by 81% against the same period last year, with contracts for 132 vessels of 14 million deadweight tonnes (dwt) placed at shipyards.