latest quarterly results, announced last month, the Copenhagen-headquartered company made a $239m loss, with Maersk Line singled out for specific criticism. Søren Skou, CEO of A.P. Moller Maersk, lashed his shipping division for delivering unsatisfactory
results. At the time he said measures were being taken to improve performance. These measures are now becoming clear with a number of unprofitable routes being axed.
the context of the qualitative research carried out by TT Club and McKinsey, the four projected futures were aimed at a 25-year horizon. Inevitably, because businesses are used to considering much shorter time horizons, key debate around any of the scenarios
will be what signposts are available and to what extent could the industry already be journeying in one direction more than another.
vessel Paul R. Tregurtha was on the eastern end of the southern shore of Lake Superior between Michigan and Ontario at the time. All 23 crew members of the ship were reported safe and uninjured and no pollution spill was
noted. The Paul R. Tregurtha flagship of the Ohio-based Interlake Steamship Company was carrying 68,200 tons of coal, 124,000 gallons of fuel and 88,000 gallons of caustic soda.
to at least one storage tank and has evacuated all its staff from both ports amid severe fighting between factions in the civil war-torn North African country.
demand as the Middle East surplus increased at the conclusion of the June program. In isolation, however, rates in the Atlantic Americas posted further gains on a sustaining of strong regional demand and a growing disconnect with natural positions.
previous week. As the harvest has already started for barley, producers need storage capacity to store the new crop. The wheat harvest is expected to start by the end of this week or the beginning of next in the southern regions of Russia and Ukraine. Around
40.5 million mt of wheat was forecast to be exported by the end of the campaign, up from 38.5 million mt.
lender has agreed to sell a non-performing ship loan portfolio with a notional value of $1 billion to investors Oak Hill Advisors and Varde, one of the sources said.
they jointly had around 200 metric meters of oil on board.
oil producers will decide whether or not to keep production curbs in place they are due to stay until the end of this year or allow output to rise in light of recently firmer oil prices. A dip in oil prices over this last week suggest that the market is
factoring in a likely rise in production levels.
taconite when it grounded about 50-feet from the breakwall at approximately 3:30 p.m. local time while attempting to turn out of the harbour. A time-lapse video made from footage from a harbor camera, which is posted below,
shows the incident as it unfolded.
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