Jakarta is tightening regulations on Indonesian ships entering the international trade while further delaying restrictions on foreign shipping
Chinese finance lessors have been increasing their presence in shipowning; CMB FL now has nearly 70 vessels.
CST will acquire its peer company, Rigel, operating in Bremen with 23 employees.
As a decision nears on how the Baltic Exchange will handle IMO 2020 and index changes loom, some of the largest participants in the freight derivatives market are crying foul.
Approval comes amid accusations that Mercuria is seeking to acquire the bunker supplier.
The commercial impact of the IMO regulations need to be considered rather than the technical challenges, one shipowner told Fairplay.
Its profit for the first nine months is EUR3.9 million, down from EUR4.7 million last year, but this level might not be maintained until the end of the year.
The development is another blow as concerns linger about bunkering group’s financials.
Speaking in Tokyo on 13 November, International Chamber of Shipping chairman Esben Poulsson acknowledged that the shipping industry had little power to change the geopolitical and trade policies pursued by governments.
As utilisation levels increase, Egypt’s ports are looking to both domestic and international investors to fund expansion projects.