Shipping Giant Enters Guilty Plea for Running Criminal Cartel
Wallenius Wilhelmsen Ocean AS has entered a guilty plea in the Federal Court to the criminal cartel.
CDPP charged WWO with cartel conduct regarding the transportation of vehicles.
This plea means the last...
COVID19 Hit Carnival Posts Largest Loss in 25 years
Carnival Corp reported a record $4.4 billion in quarterly losses.
COVID-19 pandemic has crippled the world’s biggest cruise operator and forced it to take major write-downs on the disposal of now redundant ships.
...
Wärtsilä Sets the Seal on Mauritius Cargo Reliability
Marine technology company Wartsila has received an order to supply Wartsila solutions for new 8,200dwt multi-purpose cargo vessel.
The company said that the reliability of its solutions is a major factor for receiving...
August Cargo Cancellations at US LNG Terminals
More than 40 loadings said nixed in latest tally.
Improving economics could spur fall rebound.
The total suggests weak demand will persist through late summer, even with signs of improving economics.
LNG prices...
2020 Second Quarter Looks Favourable, Says Maersk Updating Its Q2 Expectations
In a major development, A.P. Møller - Mærsk A/S (APMM) has announced that they are expecting an EBITDA before restructuring and integrating costs for Q2 2020 slightly above the level for Q1 2020 (USD...
Carriers Capitalize on Blank Sailings As Spot Rates Give Peak Season Hope
According to a LoadStar article by Mike Wackett, Container freight rates between Asia and Europe are holding firm, thanks to a demand spike and renewed hope of a peak season on the route.
Why This...
Maersk Announces Cargo Misdeclaration Fee To Handle Mismatches
In a major development, Maersk has announced that they are introducing a special cargo misdeclaration fee of 500 USD from 1 July, 2020 due to safety and operational challenges with dimension mismatches, says a...
[Watch] COVID19 Antibiotic Overuse Sparks Drug Resistant Superbug Fear
Scientists fear a wave of drug-resistant diseases in the post covid19 world
COVID19 patients are getting secondary bacterial infections as they spend more time in hospitals
Doctors, on the other hand, are prescribing...
US Dry Bulk Firms That Lost $11.33bn Over the Past 10 Years
Nine US-listed dry bulk firms lost $11.33bn over the past decade, reports Splash 247.
US-listed dry bulk companies
Alphabulk, part of AXS Marine, launched a withering attack on the poor financial performance of US-listed dry bulk...
Weekly Tanker Report – Week 25, 2020
The Baltic Briefing has issued the tanker report for the 25th week of this year. The report dated 19th June 2020 provides a valuable insight into this week's tanker market dealings, freight rates, and...