Yearly Archives: 2023
HMM Profits Plunge Nearly $2bn As Container Demand Drops
South Korean ocean carrier HMM has said that its third-quarter revenue decreased by 58% to US$1.6 billion, reports Container News.
At the same time, the...
Ocean Carriers Are Driving The Rates Race To The Bottom
Carriers are themselves driving the rates ‘race to the bottom’ they warned would lead to a “dire situation” in 2024 – Maersk singled out...
Wood Pellets Fuel New South Korea-Russia Container Service
The mid-tier South Korean port of Okgye, on the country’s east coast, has begun piloting a container shipping link with the Russian Far East...
ICE Digital Trade’s Local Law eB/L Solution Approved by IG P&I
The shipping industry is on the cusp of a significant transformation, thanks to the strides made in digital trade documentation. Electronic trade documents like...
Analyst Says Maersk Rate Cutting Behind Q3 Losses
Analysis by Hong Kong-based Linerlytica suggests that the sudden and deep decline in container freight rates in the third quarter was initiated by Maersk...
Is There A Future For LNG?
The energy markets are confused about how the future will look and confused about the timing of the future (or futures), notes Small LNG...
Australia Ports Operator Back Online After Cyber Incident
DP World Australia, one of the country's largest ports operators, said on Monday operations had resumed at all its facilities after a cyber security...
Seacon Shipping Acquires Two Tankers for Strategic Growth
Seacon Shipping Group Holdings Limited disclosed a noteworthy transaction recently revealing the acquisition of two tankers/chemical tankers by its subsidiaries, Golden Iris Ships Ltd....
Groundbreaking: First Full Eye Transplant Signals Medical History
NYU Langone achieves the first full eye transplant on Aaron James for vision restoration. Surgery provides insights; James, 19th U.S. face transplant recipient, hopeful...
Navigating Good Neighbors Agreements To Unveil Risks And To Ensure Clarity
This Risk Byte offers insights into the risks linked to 'good neighbour' agreements and underscores the importance of having sufficient insurance for both you...