Much has changed in the world of shipping and publishing since 1883, when Fairplay was founded. Globalisation and the emergence of new powerhouse economies have redrawn trade patterns, while digitalisation has revolutionised communications, ship operations, and maritime technology. Life has become faster in shipping, and the drive for scale, share, and efficiency dominates. But strong relationships have always been the centrepiece of the maritime industry, and as Fairplay marks its 135th anniversary, our commitment to sounding out shipowners and sharing their views is still at the heart of what we do.
The majority of shipowners prefer to send their vessels for scrap to the Indian subcontinent, and to date only three vessels have been scrapped in China because of the cost difference and demand.
SM Line Corp is operating 11 services to the US East Coast, the Middle East and elsewhere in Asia, with a total of 21 vessels.
Loss prevention expert said that, while there may well be some who believe that GA is no longer fit for the modern maritime world with ever larger vessels, it still needs to be understood.
Following the deal signed with Bank of Communications Financial Leasing, Scorpio Tankers has signed another sale-and-leaseback agreement with a Chinese leasing company.
The incentives include loans at discounted interest rates and for local cargo interests (steel mills and utility firms), shipowners, and shipbuilders to work together to build LNG-fuelled ships to service dedicated shipping contracts.
The move by China to cut import tariffs has generally been welcomed by global vehicle producers.
The news came as parent company Teekay Corporation remained upbeat about medium term prospects in the tanker, LNG and FPSO markets.
The Japanese shipping group’s third-party logistics arm MOL Logistics said on 17 May that it has entered a tie-up with Omani logistics firm Al Madina Logistics Services.
Revenue in the logistics and services business, which comprises inland activities of APM Terminals and other land-based plus air logistics operations of the group, increased to USD1.46 billion in the first quarter from USD1.38 billion in the same period a year earlier.
The carrier becomes the latest container line to report a loss, with Hapag-Lloyd, Yang Ming, and Hyundai Merchant Marine also reporting negative results for the latest quarter.
Korea Shipping will use two 200,000 dwt bulk carriers for the contract and is expected to order the vessels from a South Korean shipyard.
Capacity has been withdrawn from the insurance market following retrenchment in the sector after a year of catastrophes.