UNCTAD: Ukraine war raises global shipping costs, stifles trade
The Russian invasion of Ukraine is stifling the trade and logistics of Ukraine and the Black Sea region, increasing global vessel demand and the cost of shipping around the world. In a
Markets
Carnival quarterly update gives cruise share prices a boost
Carnival Corporation & plc (NYSE/LSE: CCL;NYSE: CUK), the world’s largest cruise company, today released its second quarter business update and though there was plenty of red ink splashing around, investors liked the
Maersk reports “best earnings quarter ever”
A.P. Moller – Maersk (Maersk)may no longer be quite the world’s largest operator of containerships, but it continues to be a money machine, reporting record results for first quarter 2022 across all
Mega tanker merger hits Saverys family opposition
The planned merger between tanker giants Euronav and Frontline might not go quite as easily as its architects might wish. Euronav’s largest shareholder, the Saverys family’s Compagnie Maritime Belge (CMB) is opposed
Euroseas orders three 1,800 TEU feeder containerships
Athens-headquartered Euroseas Ltd. (NASDAQ:ESEA) reports that it has signed a contract for the construction of three 1,800 TEU eco-design fuel efficient feeder containerships. The vessels will be built at Hyundai Mipo Dockyard
U.S. approves increased LNG exports
The U.S. Department of Energy (DOE) yesterday issued two long-term orders authorizing liquefied natural gas (LNG) exports from two current operating LNG export projects, Cheniere Energy Inc.’s Sabine Pass in Louisiana and
BIMCO: War in Ukraine will hurt growth in all shipping segments
Niels Rasmussen, chief shipping analyst at BIMCO, is warning that the negative impacts of Russia’s actions in Ukraine will have consequences for all sectors of shipping. Though much uncertainty remains, the immediate
Maersk sees record earnings continuing into 2022
A.P. Moller – Maersk (Maersk) has delivered on the strong profits guidance it gave back in January. Today, it reported record earnings for 2021: Revenue was up 55% to $61.8 billion, EBITDA
Scrapping: Tankers dominated 2021 demo numbers
Online valuation and market intelligence provider VesselsValue says that 2021 saw significant trends and changes in the shipping industry that combined to result in a diverse demolition market. Last year saw 704
Genting Hong Kong: The other shoe drops
As we noted when German shipbuilder MV Werften filed for insolvency on January 10, the move raised big questions about the future of its parent Genting Hong Kong, whose operations include Dream