Saltchuk suspends discussions with OSG
In a filing with the SEC, Saltchuk Holdings says that it has informed Jones Act tanker and ATB operator Overseas Shipholding Group Inc. (NYSE: OSG) that it is suspending discussions of a
Markets
U.S. chemical importers see carriers reluctant to carry hazmat cargoes
During a recent meeting with chemical distributors, Federal Maritime Commissioner Carl W. Bentzel heard concerns about systemic reductions for hazardous materials transportation via ocean. The distributors source chemical products from manufacturers overseas
ZIM to charter in 5 more LNG-fueled box ship newbuilds
Haifa, Israel, headquartered ZIM Integrated Shipping Services Ltd. (NYSE: ZIM), reports that it has exercised its option to long-term charter an additional five 7,000 TEU liquefied natural gas (LNG) dual-fuel container vessels
Carrying boxes on bulkers? Not as simple as it sounds
With soaring container shipping demand, there are reports that exporters are chartering bulk carriers to carry containers. That may not be quite such a simple solution as it sounds. The U.K. P&I
Navios to merge tanker and bulker companies
In what Chairwoman and CEO Angeliki Frangou calls a “transformative transaction,” dry bulk specialist Navios Maritime Partners L.P. (NYSE: NMM) and tanker specialist Navios Maritime Acquisition Corp. (NYSE:NNA), are to combine. “The
AXA XL strengthens U.S. marine loss prevention team
Senior risk consultant Jarek Klimczac is transferring to insurer AXA XL’s New York City office from Singapore, effective September 1, 2021. “Our risk consultants play a vital role in helping clients mitigate
ZIM reports record earnings
Haifa, Israel, headquartered ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) today reported record consolidated results for the three and six months ended June 30, 2021, that included a whopping 1,581% year-on-year increase
High scrapping prices bring surge in vessel demolition
Online valuation and data provider VesselsValue reports that the first half of 2021 saw 275 cargo vessels sold for scrap, up 40% and 33% compared to 2020 and 2019, respectively. The 275
Seaways sheds 12 ships following Diamond S merger
New York, N.Y., headquartered International Seaways (NYSE: INSW) yesterday reported its results for the second quarter of 2021. Although the company’s successful merger with Diamond S Shipping Inc. completed after the close
Buoyed by strong profits, Maersk gets into E-commerce
On August 2, A.P. Moller – Maersk gave market watchers a taste of what was to come, reporting an unaudited second quarter revenue of $ 14.2 billion, an underlying EBITDA of $5.1