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Tobias Backer, executive director of Pelagic Capital, writes for Splash today on shipping’s cash requirements in uncertain times. The maritime industry is no stranger to volatility and uncertainty. However, shipping is currently experiencing a prolonged period of unrest from a myriad of geopolitical challenges that are having a significant impact on maritime markets. Ongoing conflict …
https://splash247.com/risk-and-opportunity-exist-within-shippings-choppy-waters/
https://splash247.com/risk-and-opportunity-exist-within-shippings-choppy-waters/Greek shipowner Costamare has set May 7 as the day for the launch of its dry bulk business spin-off on the New York Stock Exchange. Each Costamare shareholder will receive one common share of Costamare Bulkers for every five Costamare common shares they hold as of the close of business on April 29. Costamare Bulkers …
https://splash247.com/costamare-readies-bulker-spin-off-listing-in-new-york/
https://splash247.com/costamare-readies-bulker-spin-off-listing-in-new-york/The former chairman of FESCO has formed a shipping line to provide links between West Africa and Russia. Andrei Severilov, who founded JSC A7 Holding last year, has just debuted A7 African Cargo Lines with a first link set to be established between Novorossiysk and Nigeria’s port of Lagos using two chartered-in 700 teu boxships. …
https://splash247.com/russian-line-founded-with-focus-on-west-africa/
https://splash247.com/russian-line-founded-with-focus-on-west-africa/With trade between the world’s two largest economies effectively coming to a halt thanks to US president Donald Trump’s tariff war with China, containerlines are blanking sailings on a greater scale than was witnessed at the onset of the covid pandemic five years ago. The global trade outlook – as witnessed by planned blank sailings …
https://splash247.com/scale-of-blank-sailings-dwarfs-covid-era-as-us-china-trade-dries-up/
https://splash247.com/scale-of-blank-sailings-dwarfs-covid-era-as-us-china-trade-dries-up/Taiwan’s Wan Hai Lines saw its website taken offline on Friday, becoming the latest liner targeted by hackers. The world’s 11th largest containerline confirmed the cyberattack in a stock exchange filing but said the incident had no significant impact on operations. The company added that no breach of internal or employee information had occurred. “Our …
https://splash247.com/wan-hai-website-targeted-by-hackers/
https://splash247.com/wan-hai-website-targeted-by-hackers/Shipping spent the weekend digesting the news from the US where watered down plans to charge China-linked ships extra for American port calls have created considerable outrage in Beijing and Hong Kong, while causing consternation for members of the Ocean Alliance, one of the big groupings in container shipping. The 42-page document released by the …
https://splash247.com/beijing-vents-fury-at-us-port-fees/
https://splash247.com/beijing-vents-fury-at-us-port-fees/US Secretary of the Interior Doug Burgum has directed the Bureau of Ocean Energy Management (BOEM) to begin a public engagement process to develop a new schedule for offshore oil and gas lease sales on the U.S. Outer Continental Shelf.“Launching…
https://www.marinelink.com/news/us-plans-new-offshore-oil-gas-lease-sales-524839
https://www.marinelink.com/news/us-plans-new-offshore-oil-gas-lease-sales-524839An Australian Transport Safety Bureau (ATSB) investigation interim report outlines the sequence of events leading up to the collision of a container ship with the berthed tall ship STS Leeuwin II in Fremantle last August.The 333m, Singapore…
https://www.marinelink.com/news/timeline-tall-ship-collision-released-524840
https://www.marinelink.com/news/timeline-tall-ship-collision-released-524840Even though dry markets were up for the week by 1.6%, overall, they have declined a massive 24% this month (according to Baltic Exchange Dry Index), reports cash buyer GMS.This comes as oil climbed over 3% to end the week at nearly USD 64.50/barrel…
https://www.marinelink.com/news/china-tariffs-concern-ship-recycling-524842
https://www.marinelink.com/news/china-tariffs-concern-ship-recycling-524842The Britannia Group, the world’s oldest P&I insurer, has revealed its long-term CEO, Andrew Cutler, will leave the company at the end of the year to pursue a portfolio of non-executive roles.. Cutler joined the Britannia Group in 2006 as a senior claim handler, having previously been a partner at HFW, for many years being …
https://splash247.com/change-at-the-top-at-britannia/
https://splash247.com/change-at-the-top-at-britannia/