The majority of container shipping lines lost money in the first three months of 2017, but higher rates and fast-growing demand will soon show on the bottom line, according to shipping consultancy Drewry. In its last Container Forecaster report, Drewry said that the industry would make an operating
Tidal Energy Today has compiled the top news from tidal and wave energy industry from May 22 – 28, 2017.
Readers’ Picks of the Week (May 22-26, 2017)
The number of trade lanes served by the Korean deep sea lines has decreased as well as their deployed capacity following Hanjin’s demise and Hyundai’s reduction in regions served, MDS Transmodal consultancy said in its latest review of non-alliance liners. As explained, the non alliance shipping lin
The registration for Offshore Energy Exhibition & Conference 2017 (OEEC 2017) is now open. The celebratory tenth edition of this event is expected to attract over 12,000 offshore professionals and more than 650 exhibiting companies.
Dubai Maritime City Authority (DMCA) is considering setting up a USD 1 billion fund to boost investments in shipping and spur on Dubai’s maritime sector, Reuters cited sources familiar with the matter as saying. The investment fund will be available to Dubai-based companies, the sources told Reuters
Several Gulf-based shipping companies have been identified as potential bidders interested in taking a stake in the United Arab Chemical Carriers (UACC), a subsidiary of United Arab Shipping Company (UASC), including Bahri and Milaha, Reuters reports. The sale is directly linked to the now completed
German liner shipping company Hapag-Lloyd and its UAE-based counterpart United Arab Shipping Company (UASC) merged today, Hapag-Lloyd said in a statement. As informed, the merger between the duo was completed today in Hamburg. “This is an important strategic milestone and a big step forward for Hapa
More than 9.8 million people were employed in the renewable energy sector in 2016, according to a new report from the International Renewable Energy Agency (IRENA).
Global ship operating expenses (OPEX) for the world’s cargo fleet have now breached USD 100 billion mark for the first time, up from USD 98 billion last year and USD 83 billion in 2008, maritime intelligence provider Clarksons Research said. Crew wages remain to be the largest constituent in the tot
There is a USD 1.6 trillion shortfall in trade finance globally, the International Chamber of Commerce (ICC) said citing recent studies, urging for an urgent UN-led review of the trade financing gap. As disclosed, the gap has grown since the peak of the 2009 financial crisis—with the biggest gaps pr
Singapore’s Vallianz Holdings, a provider of offshore support vessels and integrated marine solutions, recorded a net loss during FY2017 due to impairment charges. Vallianz on Monday reported its financial results for the 15 months ended March 31, 2017 (FY2017). The company’s financial year-end has
Dubai-based shipping company Gulf Navigation Holding PJSC (GulfNav) ended the first three months of 2017 with a 39 percent year-on-year (YOY) rise in its net income. In 1Q 2017, the company’s profit increased to AED 8.8 million (USD 2.4 million) from AED 6.3 million (USD 1.7 million) posted in the s
Qatar’s Nakilat has assumed full ship management and operations of a Q-Flex LNG carrier Onaiza from Shell Trading and Shipping Company (STASCo). The move is part of the planned and phased transition announced in October 2016. With a cargo carrying capacity of 210,150 cubic meters, Onaiza is wholly-o
