which is based in Copenhagen, has already lost almost a third of its market value this year as investors gird for more bad news. Trade protectionism means less demand, and history suggests the shipping industry will struggle to make the necessary supply cuts.
Whats more, Maersk is now more exposed to shipping as the former conglomerate divests its energy business.
has an output of about 24,000 bpd, and the shutdown contributed to a brief hike in the benchmark Brent crude price to $79 per barrel. On Wednesday, competing concerns about the return of Libyan oil exports and the negative impact of the U.S.-China trade war
combined to push Brent back down.
the top of its annual report, I.M. Skaugen described how it has become embroiled in a number of legal cases with Teekay after the latter decided to ditch an LPG/petchem pool operated by the Norwegian owner last November and shift a number of its ships to a
rival pool of its own creation.
deliveries is now the lowest since the start of 2016. Ordering trends in the start of the year were highest in the markets that recorded the highest returns. This includes the dry bulk and LNG carrier markets, while interest in the low earnings environment
tanker markets was softer.
the Index ranks 126 economies based on 80 indicators, ranging from intellectual property filing rates to mobile-application creation, education spending and scientific and technical publications. China’s number 17 ranking
this year represents a breakthrough for an economy witnessing rapid transformation guided by government policy prioritizing research and development-intensive ingenuity.
from the Department of Labor that sustained a $1.1 million judgement against a company that punished Loftus for reporting unsafe conditions aboard the company ships. The decision, delivered on May 24, 2018 may also open
the gate wider for seamen to qualify for protection under the Seamans Protective Act and help prevent tragedies similar to the loss of the SS El Faro.
is being held over July 9-13. The IMO rule on the 0.5% limit on sulfur in marine fuels, compared with 3.5% now, will take effect January 1, 2020. It applies outside designated emission control areas where the limit is
already 0.1%. The introduction of the 0.5% global sulfur cap is the most significant change since the introduction of liquid bunkers.
and are pressuring operating margins, CEO Rolf Habben Jansen said in Hamburg. We are responding short-term to this development through forceful cost management and will keep Hapag-Lloyd competitive this way, he added. Among
the measures being taken are accepting more valuable cargo, trying to reduce terminal contract costs and stripping out economically inefficient ship systems, he said.
by a Singapore court after he pleaded guilty to causing the deaths of five of his crew by performing a rash act, The Straits Times reported. A district court was told that Chinese national Ding Zongde, who was the vessels first
chief officer was neither qualified nor certified to be in control of a vessel of that size and in addition could not speak English, according to the report.
huge plumes of smoke, Zuid-Holland Zuid Safety Region informed. The vessel in question is the 58,600 dwt bulk carrier Kouyou, operated by Japanese company Doun Kisen.
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