News

Ukraine Re-Opens Three Ports for Grain Shipments



July 27, 2022 /

Following two months of negotiations by the United Nations and Turkey, there’s finally a signed agreement to re-open three of Ukraine’s Black Sea ports for grain shipments opening the route for significant volumes of food exports. Guarantee of safe passage UN Officials have said that Russia and Ukraine have the elements in place such as…


Decarbonisation and greener fuel an important issue



October 30, 2019 /

Decarbonisation is now the second most important issue for the shipping industry, according to a report released today by the Global Maritime Forum. The Global Maritime Issues Monitor 2019, which surveyed respondents from 46 countries, ranked only the “global economic crisis” ahead of “decarbonisation of shipping” as the issue to have the greatest impact on…


Vessel emissions won’t be cut by sailing slower



May 8, 2019 /

Policy director of the UK Chamber of Shipping Anna Ziou has slammed French proposals to impose speed limits as a way to cut shipping emissions. She claims it would give a “false impression” of the industry taking action.  Ms Ziou’s objection follows an outcry from container lines following the French IMO delegation’s proposals becoming public last month.  “To achieve a 50%…


$586m loss hits ONE’s parent carriers



May 1, 2019 /

Japanese merged carrier Ocean Network Express (ONE) recorded a net loss of $586m in its first year of operation, however it said it expected to move into the black in its second year.  ONE, formed from the container businesses of K Line, MOL and NYK,was supposed to produce synergistic returns for its parents. Instead it has dragged down the P&L…


New bunker adjustment fees keep spot rates firm



January 7, 2019 /

Asia-Europe ocean carriers from have announced further hikes in their FAK rates this month after successfully pushing through 1 January spot rate increases. Alphaliner said rates on the route “remained firm in December, despite the resumption of the 2M’s AE2/Swan service”. Hapag-Lloyd said that on 16 January, “due to strong demand”, it was increasing its…


CMA CGM back in the black in Q3



November 27, 2018 /

CMA CGM moved back into the black in the third quarter, and recorded a net profit of $49m for the nine-month period. However, in the third quarter, the French carrier was beaten to its ‘best in class’ financial performance ranking by Hapag-Lloyd which reported a stronger recovery. CMA CGM’s turnover during Q3 increased by 6.3% on the same period last year,…