Hit by losses from cancelled containership and bulk carrier charter contracts K Line reported a massive JPY111.1bn ($1bn) loss for FY18, end 31 March 2019, says an article published in Seatrade Maritime News.
The statisticsThe JPY111.1bn loss for FY18...
2019 is expected to be a challenging year for tanker markets as charter rates remain suppressed and the market fails to see any significant momentum ahead.
Growth in seaborne oil demand is expected to be impacted by the...
In a recent development, ABB has announced that they have secured the order covering power, automation, propulsion, and digital systems for their second ice-going cruise ship to be built for Lindblad Expeditions by Ulstein, says a press release published...
Despite the abundance of crude oil on its doorstep, the Norwegian tanker fleet is mainly engaged in the deep sea, long-haul trades. Norway is a major producer of North Sea oil but surprisingly this ‘home trade’ does not register...
In a major development, ZIM has announced that they have signed on as a member of TradeLens, the blockchain solution from Maersk and IBM, making it the fourth carrier to join the platform after Maersk, PIL and Seaboard Marine,...
According to an article published in Economist, the World's Largest Shipbreaking town Alang in India is under pressure to clean up and shipping giant Maersk is helping it in this process.
About Alang
How do you make a 10,000-tonne container ship...
According to a Platts report, the Capesize market looks to be weak again in Q2 as the Vale dam accident and repairs at key ports cut demand for the vessels that typically carry iron ore and coal, according to...
ABS has teamed up with industry leaders from the CINS to develop recommendations to help mitigate risks emerging from the stowage of dangerous goods on containerships, says an article published in Ship Technology.
The recommendations are to be tested
As part...
The maritime sector is being targeted by highly motivated cybercriminals and the shipping industry should be on the highest alert for a cyber-attack.
The maritime industry still believes it is enough to have a Level 1 solution to...
According to an Alibra Shipping article, the shipping industry is affected by certain business and market changes recently which includes situations such as Vale's Brucutu Mine operations, Panama Canal restrictions, high oil prices, and Chinese economy improvement. Here's an...
