1. APM Terminals CEO wants to increase earnings
APM Terminals has to get more out of its business without making acquisitions – even if the majority of the Maersk Line synergy effect has been achieved and economic growth has stalled, CEO Morten Engelstoft tells ShippingWatch. https://shippingwatch.com/secure/article11426296.ece
2. Dan-Bunkering blames name confusion for new Syria case
The case from August last year, when Danske Bank reported Dan-Bunkering to Danish authorities on a suspicion of supplying fuel to Syria was caused by mix-up in names, says the company. Dan-Bunkering, however, is not able to get the explanation verified. https://shippingwatch.com/secure/suppliers/article11426828.ece
3. World Bank cuts global outlook as trade tumbles to decade low
The World Bank cut its 2019 global growth forecast, citing a slowdown in trade growth to the weakest level since the financial crisis a decade ago and a drop in global investment. https://shippingwatch.com/secure/regulation/article11426986.ece
4. New rules cause container carriers’ debt to soar
A new accounting standard has effected a significant rise in shipping companies’ debt obligations, writes analyst firm Alphaliner. One carrier has increased its debt by over 100 percent following the new standard. https://shippingwatch.com/secure/article11426598.ece
5. Shipping Losses Dropping, but Little Decline in Incidents
Large shipping losses are now at their lowest level this century having declined by over 50 percent year-on-year, according to Allianz Global Corporate & Specialty SE’s (AGCS) Safety & Shipping Review 2019. https://www.maritime-executive.com/article/shipping-losses-dropping-but-little-decline-in-incidents
6. ABS Outlook: Alternative Fuels Will Be Key to Reaching IMO Low Carbon Targets
The American Bureau of Shipping (ABS) has launched its Low Carbon Shipping Outlook with the aim of evaluating ways of achieving emissions-reduction goals. The outlook (available for download here) defines ship technologies, operational efficiencies and alternative fuels and energy sources needed to reach the International Maritime Organization’s (IMO) 2030 and 2050 targets. https://worldmaritimenews.com/archives/277985/abs-outlook-alternative-fuels-will-be-key-to-reaching-imo-low-carbon-targets/
7. One Sea Autonomous Shipping Alliance Welcomes Three New Members
Three more players in the international maritime sector have joined One Sea, the industry alliance that promotes a common goal of self-guiding shipping. Global satellite group Inmarsat and NYK Group’s research subsidiary Monohakobi Technology Institute (MTI) have joined One Sea as full members, while the Royal Institution of Naval Architects (RINA) has signed a memorandum of understanding to become a One Sea associate member. https://worldmaritimenews.com/archives/278004/one-sea-autonomous-shipping-alliance-welcomes-three-new-members/
8. Hyundai Heavy pushes ahead with LNG-fuelled VLCC with rotor sails
On Wednesday at Nor-Nor-Shipping Lloyd’s Register presented South Korea’s Hyundai Heavy Industries (HHI) with approval in principle (AiP) for a very large crude carrier (VLCC) eco-tanker design, capable of using a combination of volatile organic compounds (VOC) mixed with LNG as fuel and Norsepower’s rotor sail solution for wind-assisted propulsion. https://splash247.com/hyundai-heavy-pushes-ahead-with-lng-fuelled-vlcc-with-rotor-sails/
9. Norway blacklists shipbuilders over human rights abuses
Norway is pushing to create a shipbuilding regulation akin to the ship recycling sector’s Hong Kong Convention whereby yards will be blacklisted for financing if they are found to have deficient labour and human rights standards. https://splash247.com/norway-blacklists-shipbuilders-over-human-rights-abuses/
10. New accounting standards see debt levels among leading liners soar 50%
New accounting standards effective from the start of this year have made for some massive debt increases for the world’s largest container carriers. The application of the new IFRS 16 lease accounting standard from January 1 means long-term leases for vessels, equipment, and other assets now have to be capitalised, whereas operating leases could previously be kept off the balance sheet. https://splash247.com/new-accounting-standards-see-debt-levels-among-leading-liners-soar-50/
