The European Union’s carbon market could capture a large chunk of emissions from outside Europe if the bloc succeeds in including shipping in the scheme, according to the European Commission’s first report on maritime CO2 emissions
Japanese shipping company Nippon Yusen KK expects the coronavirus pandemic to reduce its recurring profit by 50-60 billion yen ($464 million-$557 million) for the year to next March
Sydney - A Singapore-flagged cargo ship lost at least 40 containers in deep waters off the coast of Sydney when they fell overboard in heavy seas
The Bulgarian captain of a Portuguese-flagged cargo ship who was kidnapped along with seven other sailors by pirates off the coast of Benin last month, has been freed
The tanker, named Fortune, reached the country's waters at around 7:40 p.m. local time (1140 GMT) after passing north of the neighboring dual-island Caribbean nation of Trinidad and Tobago, according to vessel tracking data from Refinitiv Eikon
Manila - The Philippines fully supports the recognition of Filipino seafarers as “key workers” ensuring that ship crew changes can take place safely amid COVID-19 pandemic. This was in response to the statement of International Maritime Organization (IMO) Secretary-General Kitack Lim urging all the Member States to recognize all seafarers as “key workers” by removing any barriers to documentation and lifting travel restrictions
Dubai - Wilhelmsen Ships Service (WSS) is continuing to handle critical shipments within GCC countries during the COVID-19 lockdown of land borders by utilising different sea freight solutions. Their team in Dubai recently handled 1,706mt of steel plates from Hamriyah Free Zone Port in Sharjah to Shuwaikh Port (Kuwait
Copenhagen - Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China dropping 68% in just nine days (from USD 222,591 per day on 22 April to USD 71,885 per day on 4 May)
Monaco - Tanker owner and operator Scorpio Tankers has secured additional liquidity having received new loan commitments for debt repayment. The company said it had received a commitment for a new credit facility for up to $225 million
London - The outbreak of the coronavirus has disrupted container supply chains around the world and depressed the demand for vessels and boxes. It will lead to a contraction in the shipping container fleet and keep prices and lease rates under pressure in 2020, although better than in 2019
Supertanker freight rates eased this week as surging demand for floating storage cooled and crude oil output is set to fall, but rates could jump again as fewer tankers become available and as traders take advantage of weak oil prices
Geneva - The International Air Transport Association (IATA) and the International Chamber of Shipping (ICS) said governments should facilitate the movement of international transport personnel who have been affected by travel restrictions due to the coronavirus disease 2019 (COVID-19) pandemic
Analysts are already forecasting a steep global recession this year as the virus has prompted worldwide restrictions on movement of people and goods
Seoul - Korean shipbuilders are reportedly outrun by Chinese rivals in a race to win a 1.35-trillion-won order for six 23,000-TEU super-large container carriers from German shipping company Hapag-Lloyd. Chinese shipbuilders beat technologically superior Korean competitors with advanced technology
Owners of a factory ship moored off southern France which normally turns seawater into bottled mineral water have converted it to make sanitising solution in the fight against the coronavirus.
Ships must be allowed to change over overworked and exhausted crews to help to keep trade flowing as coronavirus lockdowns shut many transit points across the globe, shipping industry officials said on Tuesday.
London - Cargo owners should expect significant further ocean freight service disruptions this year with more blank sailings and likely service suspensions, Drewry highlighted yesterday, as volatility linked to the coronavirus pandemic continues or worsens. The container shipping analyst also suggested that shippers “should consider adding a few ‘backup carriers’"
OPEC and other leading oil producers including Russia failed to agree on further joint action on the global oil market and to extend their deal to cut output, leading to a sharp fall in oil prices that have also been battered by the coronavirus pandemic
Shanghai - China’s top-level administrative body has sent a signal that the country is to further relax a crew change ban at its ports after Shanghai’s easing policy
London - Number-one ocean carrier Maersk has suspended all crew changes aboard its container ships through April 14, the company said in a letter to crew Tuesday
Monaco - Danish Maersk Tankers has entered into a deal with chemical tanker owner and operator Team Tankers International to take over the commercial management of its 27 tankers and establish two new pools. For Maersk Tankers the agreement will increase its fleet under management
Milano - Italian shipyard Fincantieri has not offered any concessions to head off EU antitrust concerns about its planned bid for France’s Chantiers de l’Atlantique, giving regulators no choice but to block the deal, people familiar with the matter said last week. A veto by European Competition Commissioner Margrethe Vestager would deal a serious blow to Italy
French shipping group CMA CGM said on Friday that its activity in China was getting back to normal after the coronavirus outbreak disrupted traffic last month
Shanghai - Coronavirus-led void sailings have slowed following the recovery of China’s factory and logistics activities. But the spread of the disease in other countries has raised concerns about a further disruption to container shipping demand.
Copenhagen - Shipyards are facing disruption to newbuilding, repair and conversion projects due to the impact of the virus on their labour force and the ability of their subcontractors to meet their commitments to supply materials and equipment necessary for the completion of such projects
Assailants murdered the captain of an oil tanker after boarding his ship while it was anchored off the coast of eastern Venezuela
As part of PIL "continuous effort to optimize its network efficiency", writes the shipowner in a note, the company will be withdrawing its services from the Transpacific market
Clariant Chief Financial Officer Patrick Jany is exiting for a post at Maersk marking the latest management change at the Swiss speciality chemicals maker after its CEO jumped ship last year
The sister ship of the "YM Efficiency", which lost 81 containers off the coast of Newcastle and Port Stephens in June 2018, has been stopped in Sydney for a pollution debt that could cost Yang Ming more than 12 million euros
UI Group and its longstanding partner Royal Caribbean Cruises are planning to expand their luxury, expedition and premium cruise segment and to attract new target audiences for luxury cruise products