Search results for: masdar

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  • NRF: US container ports brace for double-digit imports decline

    11 May 2020
    Business & Finance, Ports & Logistics

    Imports at major U.S. retail container ports are expected to see double-digit year-over-year declines this spring and summer as the economic effects of the coronavirus pandemic continue, according to the Global Port Tracker report released by the U.S. National Retail Federation and Hackett Associates. “Factories in China are largely back online and stores that closed […]

  • Schottel propels six new live fish carriers built by Sefine

    8 May 2020
    Equipment, Vessels

    German manufacturer of propulsion systems Schottel has secured a deal to deliver propulsion equipment for six new live fish carriers being built by Turkish shipyard Sefine. The vessels feature Salt Ship design and are being built for DESS Aquaculture Shipping AS in Grimstad, Norway. The latest one to be delivered is Aqua Skilsøy, the third […]

  • CDB Leasing splashes $417.6 million on eight bulkers

    5 May 2020
    Business & Finance

    China Development Bank Financial Leasing (CDB) has signed contracts with three compatriot shipbuilders for the purchase of eight 210,000-ton bulkers. As disclosed in a stock exchange filing, two ships from the batch would be built by Qingdao Beihai Shipbuilding Heavy Industry, while Yangzhou COSCO Shipping Heavy Industry and Shanghai Waigaoqiao Shipbuilding would build three bulkers […]

  • 2020 Bulkers delays delivery of two newbuildings

    30 April 2020
    Vessels

    Norwegian shipowner 2020 Bulkers has pushed the delivery dates for the last two of its scrubber-fitted newbuilding bulkers for the first half of June 2020. The two 208,000 dwt Newcastlemaxes are being built at New Times Shipyard in China and form part of a batch of a total of eight units built at the same yard […]

  • Sea-Intelligence: We are at the peak impact of the pandemic in terms of blank sailing

    27 April 2020
    Business & Finance

    Danish consultancy Sea-Intelligence believes that the container shipping market has reached the peak impact of the pandemic in terms of blank sailings. Voiding of sailings has been a dominating technique adopted by liners to adapt to the drop in demand caused by the COVID-19 pandemic, to cut costs as well as to prevent a catastrophic […]

  • Hapag-Lloyd secured 9 percent in energy savings by removing fouling on 33 ships

    24 April 2020
    Vessels

    German container shipping company Hapag-Lloyd has obtained 9 percent in energy savings in the form of fuel by preventing fouling on the hulls of its ships. The company is using digital tools to detect water resistance increases on its ships caused by fouling. It has also developed ship-specific biofueling management plans for its vessels detailing […]

  • Bahri’s Q1 2020 earnings soar amid higher rates

    24 April 2020
    Business & Finance

    The world’s largest owner and operator of very large crude oil carriers (VLCCs) Bahri reported a massive jump of 133.77 percent in its profit for the first quarter of 2020 despite COVID-19 challenges. The company’s net profit after tax reached SAR 419.22 million (USD 111 million) from SAR 179.33 million recorded in the same period […]

  • Dry bulk’s overcapacity woes exacerbate road to demand recovery

    23 April 2020
    Business & Finance, Market Outlooks, Outlook & Strategy

    Over ordering of bulk carriers over the past ten years has set the tone for the upcoming decade as overcapacity hinders shipowners’ battle with low demand further constrained by the COVID-19 pandemic. A total of 413 million DWT has flooded the market since the turn of the decade, bringing the world dry bulk fleet to […]

  • Viking Line’s freight transport standing firm against COVID-19 impact

    22 April 2020
    Vessels

    Finland-based ferry company Viking Line is experiencing a growth in demand for freight transport onboard its ships, keeping its traffic volumes high despite the COVID-19 pandemic’s impact on the movement of goods. The company’s passenger traffic has been slashed, however, a heavy volume of the freight traffic has managed to compensate for the fall to a […]

  • Wärtsilä’s scrubber order intake takes a hit as fuel price spread narrows

    21 April 2020
    Business & Finance, Equipment, Technology

    The Finnish technology group Wärtsilä has reported a 12 percent order intake fall during the first quarter of 2020 as a result of the global measures aimed at curbing the spread of the COVID-19 pandemic. The order intake was worth EUR 1.2 billion when compared to EUR 1.4 billion in the same period last year, while […]

  • Stolt-Nielsen to scrap scrubber retrofits where possible to cut costs

    17 April 2020
    Business & Finance

    Oslo-listed shipowner Stolt-Nielsen is looking for ways to cut expenditures during the pandemic and is planning to cancel scrubber retrofits on its tankers where it is possible, the company’s CEO Niels Stolt-Nielsen said. As such, the chemical carrier and tank terminal owner has identified up to $30 million in Capex savings in the tanker sector. “The […]

  • Three pathways to decarbonization of shipping

    16 April 2020
    Outlook & Strategy, Research & Development, Transition

    There are three potential fuel pathways toward developing zero-emission vessels and decarbonizing the future of shipping, according to ABS. The US-based classification society just released the 2020 Setting the Course to Low-Carbon Shipping — Pathways to Sustainable Shipping outlook, which maps out the path toward decarbonization goals of the global fleet. The three fuel pathways […]

  • NGO Shipbreaking: COVID-19 exposes vulnerability of migrant workers in South Asia

    15 April 2020
    Human Capital

    The strict lockdown measures across South Asia aimed at curbing the COVID-19 pandemic have also shut down the shipbreaking facilities in India, Bangladesh, and Pakistan. The worst hit by the lockdown measures are migrant workers who became stuck away from home still pending their March salaries and some even deprived of access to food, according […]

  • MSC resolves network outage

    15 April 2020
    Business & Finance, IT & Software, Safety

    Swiss-based container shipping major Mediterranean Shipping Company (MSC) has resolved its network outage issue which has kept some of the company’s digital tools down for five days. The company said that all internal systems were fully functional and that all its booking options and the website msc.com were available again. “The incident was confined to […]

  • Saudi Ports Global inks $1.87 billion deal for King Abdulaziz Port

    14 April 2020
    Business & Finance, Ports & Logistics, Project & Tenders

    Saudi Global Ports, one of PSA International’s subsidiaries, and Saudi Ports Authority (Mawani) signed a build, operate and transfer deal for the first and second container terminals in the King Abdulaziz Port in Dammam. The SAR 7 billion (USD 1.87 billion) deal makes SGP the sole container terminal operator of the deep-water hinterland port. The […]

  • Founder of Royal Caribbean Cruises dies at 90

    13 April 2020
    Business & Finance

    Arne Alexander Wilhelmsen, a founder of Royal Caribbean Cruises died on Saturday, April 11, 2020, in Palma, Spain, at 90-years old. Wilhelmsen was a constant influence on the company from its founding, serving more than three decades on the company’s board of directors. “At a time when the rest of the world thought cruising was a niche use for old […]

  • LIVE BLOG: Offshore Energy and Navingo Career 2021 events

    27 October 2021
    Business Developments & Projects, Infrastructure, Outlook & Strategy, Regulation & Policy

    Aaaaaaand scene! The 14th Offshore Energy Exhibition & Conference is in the books and, in case you were not able to join us over the past two days, the video below gives you a little taste of what it was like to be at RAI Amsterdam in person! 17.10 Closing the 14th OEEC and the 15th […]