has leapt to around 6% of the companys share capital, the highest on record since the data provider started tracking the Danish carriers shares in 2006. Maersk has lost more than 20% of its market value this year on
the back of struggling results. Among many hedge funds reviewing their options is AQR Capital Management. A July 18 regulatory filing showed the firm has a short position equal to 0.5% of Maersks share capital.
waters must be classed by a member of the International Association of Classification Societies (IACS) or Tasneef, the UAEs own class society. The 25 flags are a mix of the Paris MOUs Black and Grey Lists. During
much of the shipping downturn, the UAE became a dumping ground for distressed shipping assets in local waters.
This is about to change with the launch of MARI-WEL the Professional Development Programme in Maritime Welfare. MARI-WEL is a new training programme specifically designed to provide the skills and knowledge needed to
support seafarer welfare. Created through collaboration between the ITF Seafarers Trust and the World Maritime University (WMU), the course covers all the bases.
other British P&I clubs have created European hubs in Holland, Ireland and Luxembourg in recent months with Brexit looming. For Cyprus, the decision by London P&I Club is a big vote of confidence as the island has recently
upped its maritime hub marketing and now has a shipping cabinet position within government.
numbers hit a record high in 2017 with 4.052 million taking an ocean cruise, an almost 40 percent compound annual growth rate over the last few years, and Asia accounted for about 15 percent of total global ocean passenger volume. Mainland China maintained
its dominance as a source market, accounting for almost 60 percent of all Asian passengers.
will also be made to the parents and other family members. Adding in compensation for lost income for those that died, each family is set to receive around $530,000. The judge noted the intense suffering that the victims
were subject to, and he criticized operator Chonghaejin Marine for allowing the vessel to sail in an overloaded and defective state.
by seawater, resulting in more acidic water with a lower pH. Around a third of the CO2 released by burning coal, oil and gas gets dissolved into the oceans. Since the beginning of the industrial era, the ocean has absorbed around 525 billion tons of CO2, equivalent
to around 22 million tons per day.
billion won ($126 million) in the second quarter, compared with a net profit of 22.7 billion won a year earlier. The company blamed increased fixed costs and losses stemming from a delay in the delivery of a drill ship to Ocean Rig.
for merchant shipping in the central Mediterranean. Italy has closed its ports to vessels carrying rescued maritime migrants. As masters have a duty to assist those in distress and to deliver rescuees to a "safe" port, several
ships have seen their normal commercial operations delayed after a rescue as a result of the new Italian policy.
incident, the Swedish Coast Guard confirmed, adding that the risk of further pollution is currently low. The initial damage report showed that the 6,890 dwt vessel suffered two ruptures in its hull, however, these were
not near the ships fuel tanks.
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