ClassNK grants AiP for the joint project by NYK Line and MTI on the concept design of an autonomous ship framework, reads a press release published on their website.
The Approval in Principle (AiP)
Leading Classification Society ClassNK granted an AiP...
In a major development, the world’s largest container line, Maersk is bracing for a historic slump in demand after emergency lockdowns across the globe left international trade in tatters, says article published in Transport Topics News.
25% Decline in Container...
According to a LoadStar report, South Korean carrier HMM reported a $55m net loss for the first quarter – a dramatic 63.2% improvement on the $149m it lost in the same period last year.
Cost Cutting Efforts Pay?
The carrier said...
The Baltic Briefing has issued the tanker report for the 20th week of this year. The report dated 15th May 2020 provides a valuable insight into this week's tanker market dealings, freight rates, and charter activities.
VLCC
There has been a...
d'Amico International Shipping S.A. announces its memorandum of agreement for the sale of one of its handysize vessels, generating around US$ 8.8 million in cash, reads a press release published on their website.
What is in the memorandum of agreement?
International...
Oil and gas sector investments have grown as a share of total U.S. nonresidential business fixed investments.
The share of the oil and gas industry’s investment of U.S. nonresidential business fixed investment is an important component of the...
Bahri has announced the delivery of the new dry-bulk carrier - Sara.
The vessel increases the company’s fleet of dry-bulk carriers to six ships in line with its efforts to expand its marine capabilities.
The new Kamsarmax-class vessel...
Gregory Vousvounis provides his opinion on first-quarter earnings and describes what the market is missing.
Fleet shrinkage is due to product tankers switching to the crude trade.
They can convert back of course but this is quite more...
In a major development, Hapag-Lloyd has announced that they are suspending three of their six North European feeder services, as volumes in the region continue to collapse, reports the LoadStar.
Present Scenario
According to a customer advisory from Japanese carrier...
According to a LoadStar article written by Mike Wackett, Maersk has said that it expects container volumes to contract by 25% in the second quarter, as it reports a solid first-quarter performance
Reasonable Results
Notwithstanding the expected downturn in the second...
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