Finance - News
Xeneta’s Long-Term XSI Public Indices has revealed yet another monthly hike in long-term ocean freight rates, with global container prices climbing by 3.2%. The development follows a 2.2% increase in August 2021 and an unprecedented 28.1% jump in July 2021, leaving rates now standing 91.5% up year-on-year. What’s more, Oslo-based Xeneta reports there is little evidence to suggest a weakening of market fundamentals – meaning there could be more pain in store for shippers, with...
Maersk Kanoo, UAE (part of A.P. Moller - Maersk) has partnered with Danish Pavilion for Expo 2020 Dubai that opens its gates next month. Maersk will be present at the Danish Pavilion, throughout the six months of Expo 2020 Dubai, to welcome and interact with the visiting customers, and businesses that are curious to know more on how Maersk transports goods around the world. Expo 2020 Dubai Expo 2020 Dubai revolves around three key themes – mobility, sustainability and opportunity. Maersk...
Wrsit's logistics branch in Copenhagen has launched its new and groundbreaking forwarding platform. It is based on the latest within Cloud Technology, setting new standards for the future of forwarding business in Wrist. The online portal is developed to meet the current and future needs of customers, supporting the demand for a higher level of digitalisation. Automatic real-time tracking and complete transparency Log on to Wrist's logistics customer portal, where users can follow orders with...
From the 2023 season onwards, cruise ships will be able to call at the Port of Aarhus, connect to shore power and keep their engines running on electricity while the ship is docked in the Port. This will eliminate pollution from ships while they are stationed in Aarhus. The decision to invest in a shore power facility should be seen as part of the Port of Aarhus’ wider sustainability strategy which aims to make the Port the most sustainable in the Baltic Region. Attracting shipping compa...
CMA CGM has advised that in order to recover schedule reliability on SAFRAN service, connecting Europe with East Coast South America, the Le Havre call suspension will be extended for a further eight-week period. Le Havre call suspension extended The service change is effective m/v CAP SAN AUGUSTIN voy. 0EWAHS1MA, starting her rotation in Rotterdam ETS, on October 20th, 2021. SAFRAN's rotation will be temporarily adjusted as follows: Rotterdam (Thu/Fri) - London Gateway (Sat/Sat) - Hamburg (...
Globally renowned container logistics company, A.P. Moller - Maersk (Maersk) signed an agreement, on Monday, September 27, 2021, to sell its reefer manufacturer, Maersk Container Industry (MCI), to China International Marine Containers Ltd. (CIMC), which is headquartered in Shenzhen, China and listed on the Shenzhen Stock Exchange, and Hong Kong Stock Exchange. Maersk Container Industry (MCI) will become part of a market renowned company in the container equipment industry. CIMC will take over...
Stena Line is to continue its expansion on the Baltic Sea during 2022, increasing both freight- and passenger capacity. The Swedish family-owned ferry company announces that they will deploy their two new 240-metre-long fuel-efficient E-Flexer ferries, on the Nynäshamn-Ventspils in 2022. Stena Line also announces plans to increase the capacity on the Karlskrona-Gdynia route with the deployment of the two large and modern ferries Stena Scandica and Stena Baltica. Freight and passenger capa...
Classification society DNV has introduced the new Abate class notation, designed to assist the owners and operators of offshore floating installations to identify and implement measures to reduce greenhouse gas (GHG) emissions. Altera Infrastructure is the first FPSO owner to pilot the DNV notation on the Petrojarl Knarr FPSO, with successful results so far. Decarbonisation The maritime industry is eager to investigate how they can improve the sustainability of their installations The Intern...
Babcock, the aerospace, defense and security company, was joined by UK Secretary of State for Defense and Shipbuilding Tsar, Rt Hon Ben Wallace MP to cut the first steel for the first of the Royal Navy’s five new Type 31 frigates, HMS VENTURER. Hosted at Babcock’s facility in Rosyth, Scotland, where the Type 31 Inspiration class ships are being built, representatives from across UK and international industry and public service, witnessed the historic ceremony signaling the officia...
A near-record backlog of cargo ships in Southern California could have serious ramifications for the US economy. The build-up of cargo ships carrying key exports from China, including electronics, furniture, and toys, threatens to increase shortages and price hikes in the US ahead of the holiday season. The dozens of hulking cargo ships wait an average of nearly 10 days to dock and unload, according to data from the Port of Los Angeles. Container vessels Los Angeles a...
Sustainable transport solutions will open up a greener Blue Water. That is why BWS has welcomed Per Jakobsen, who will contribute to the green transition through innovative solutions, internal development, and close collaboration with external climate partners. Creating green solutions “I am looking forward to creating green solutions which are both easily available as well as easier to see through, making the value visible for our clients and their clients," says Per Jakobsen, who...
Signatories of the Call to Action for Shipping Decarbonisation urge pioneers to align shipping with the Paris Agreement temperature goal. The private sector is already taking important steps to decarbonise global supply chains. Now governments must deliver the policies that will supercharge the transition and make zero-emission shipping the default choice by 2030. Full decarbonisation of international shipping is urgent and achievable. This is the clear message from Unifeeder and more than...
Over 150 industry leaders and organizations call for decisive government action to enable full decarbonization of international shipping by 2050 - Signatories of the Call to Action for Shipping Decarbonization urge world leaders to align shipping with the Paris Agreement temperature goal. The private sector is already taking important steps to decarbonize global supply chains. It is indispensable that governments deliver the policies that will supercharge the transition and make zero emissi...
The Organising Committee of the Doha International Maritime Defense Exhibition and Conference (DIMDEX) has announced that it renewed sponsorship contract with MBDA, the world’s renowned developer of missile systems, will be the Gold Sponsor of the event for the seventh time. DIMDEX 2022 DIMDEX 2022 will take place under the theme ‘Connecting the World's Maritime Defence and Security Community’. Commenting on this occasion, High Excellency Chief of Staff of Qatari Armed Force...
With almost 90 percent of the global trade being ocean shipping, efficient and environmentally friendly passenger and freight transport by sea is crucial to achieving the climate goals. The ferry operator - Stena Line, Frederikshavn Municipality, and the Port of Frederikshavn have signed an agreement aiming to accelerate the transformation of the transport sector by deploying two battery-powered Stena Elektra ferries on the Gothenburg-Frederikshavn route by 2030 and making the necessary investm...
Survival technology provider - Survitec has unveiled a new range of defence-grade life preservers designed specifically to improve the safety of military aircrews. Launched during London’s DSEI 2021 exposition, the three new lifejackets form part of Survitec’s newly created AirPEX (Aircrew Protection Extreme) product portfolio. “The launch of these new life preservers is important to Survitec’s strategic objective of expanding its presence in the military rotary and...
BAE Systems, in collaboration with other maritime industry pinoeers, has secured funding from the UK Department of Transport to design, develop and demonstrate exciting new power and propulsion technologies for London, with the potential to reduce emissions across global waterways. Working across two separate projects in the city with Uber Boat by Thames Clippers, a ferry operator and Cory, a waste to energy management company, BAE Systems will use its expertise in providing integrated solutio...
In his keynote speech at the London International Shipping Week (LISW21) conference, held at the International Maritime Organisation (IMO), Soren Toft, CEO, MSC Mediterranean Shipping Company, discussed the current economic environment, the pressure the whole supply chain is facing and how the industry is evolving to ensure growth in a disrupted world. Emphasising shipping’s role as the backbone of global trade with a huge influence on the global economy, Soren explored the current st...
Unifeeder Group, through its Unifeeder ISC platform, announced the acquisition of Transworld Feeders FZCO, Avana Logistek Limited, including its subsidiary Avana Global FZCO, and Transworld Feeders Pvt. Ltd., the containerised Indian coastal and EXIM feeder shipping operations of Shreyas Shipping and Logistics Limited, excluding vessels and bulk operations. Avana Logistek and Avana Global cover 60 ports, whereas Transworld Feeders and Shreyas Shipping and Logistics cover 53 ports. Feeder...
The International Transport Forum (ITF), NITI Aayog and the National Institute for Transforming India have jointly launched the ‘Decarbonising Transport in Emerging Economies’ (DTEE) project in India, on June 24, 2020. The launch, held via a webinar, was inaugurated by International Transport Forum – ITF Secretary - General Young Tae Kim and the Chief Executive Officer (CEO) of NITI Aayog - Amitabh Kant, in the presence of D.S. Mishra, Secretary in the Ministry of Housing and...
As a disruptive force in the e-commerce space, the acquisition of HUUB strengthens Maersk´s technology capabilities, bringing the best attributes of a modern entrepreneurial agile workplace. "HUUB is a great fit for Maersk, a curious team with inspiring founders. With HUUB we are acquiring world-class capabilities and talent that will allow us to greatly accelerate the development of our omnichannel offering. This will make it much easier for our customers to focus on their core b...
Kinder Morgan, Inc., one of North America’s largest energy infrastructure companies, is partnering with Neste, one of the providers of renewable and circular solutions, to create a premier domestic raw material storage and logistics hub in the United States, supporting increased production of renewable diesel, sustainable aviation fuel and renewable feedstock for polymers and chemicals. Upon completion of the project, Kinder Morgan’s Harvey, Louisiana facility will serve as the prim...
The biggest lesson over the past year is that curveballs can come from anywhere and disrupt even the best-laid plans. Global logistics has to evolve and become more agile to swing more effectively. Smart digitalisation can help build resilience, increase end-to-end visibility and ultimately optimise global supply chains. Technological innovations allow logistics to not only move business, but to shape it. When done right, it enables new solutions that elevate opportunities and make logistics...
The recent decision by the OCIMF Executive Committee to separate Submitting Company rights from OCIMF membership status necessitated the creation of a new set of requirements for becoming a Submitting Company. This is to ensure that OCIMF maintains sufficient governance control over its programmes. The attached document sets out the criteria for a company to be considered for approval as a Submitting Company in SIRE, BIRE and OVID. It also sets out the requirements which all new and existing Su...
The Liza Unity FPSO started its voyage to Guyana, having departed from the Keppel shipyard in Singapore. The FPSO is expected to arrive in Guyana in late 2021. Once the FPSO arrives at the Liza field in Guyanese waters, she will be hooked up to the seabed, which will then be followed by the installation of umbilicals and risers, allowing the next phase of operations to start. Liza Unity FPSO The Liza Unity FPSO has also been awarded the SUSTAIN-1 notation by ABS, the Classification Soci...
Golden Ocean Group Limited, one of the world’s largest listed dry bulk shipowners announces that it has entered into an agreement for the construction of three high-specification latest generation 85,000 dwt ECO-type Kamsarmax vessels, which will be constructed at a first-class Chinese yard. Propulsion system The vessels will be equipped with the latest and most efficient propulsion system, contributing to significant improvements in fuel consumption and emissions performance. The vessel...
New study from maritime professional services organisation points to potential future supply chain upheaval, from energy transition uncertainty, with leaders calling for ambition to be turned into immediate action. Leaders from across the global supply chain are calling for immediate action on maritime decarbonisation, if a successful energy transition to zero-carbon supply chains is to be achieved. Call for action on maritime decarbonisation Drawing views from leaders across the global suppl...
Pak Elektron Limited (also known as PEL), Pakistan’s local manufacturing giant of major home appliances and electrical equipment, is a top household brand and has been operating for more than 7 decades in the country. Competing with global companies, PEL is constantly looking for pockets of opportunities to optimise its operations while keeping an eye on the philosophy of innovation and advancement. Challenges in global supply chains PEL had to handle huge import volumes with multiple...
Kongsberg Digital (Kongsberg) and Shell International Exploration & Production (Shell Marine) have announced that they have entered into a strategic partnership agreement. Hege Skryseth, President of Kongsberg Digital and Executive Vice President (EVP) at Kongsberg, said “We are very excited to enter into this new strategic partnership agreement with Shell International and enable the digital transformation of their Wells business unit.” Digital transformation Hege Skryseth ad...
When Asbjørn Lauritsen started as trainee at Blue Water Esbjerg in 2014, he had a distant dream of getting to live and work abroad. However, the dream turned out to become a reality within few years for the young talent. Asbjørn finished his traineeship in 2016 after which he was employed in the Energy & Projects division where he worked a couple of years before a new door opened: stationing at Baku, the capital of Azerbaijan. Here, he assisted the Blue Water Baku office with...