I don’t remember when I discovered that the first application of lightbulbs occurred at sea rather than ashore. But when I dug a little deeper into the subject recently, I came across an interesting set of coincidences that shows how innovation often relies on simply doing, rather than endlessly talking about it.
Container shipping group CMA CGM on Friday reported higher second-quarter profits and said it expects results to improve again in the current quarter as the shipping sector recovers quickly from disruption caused by the coronavirus pandemic.French-based CMA CGM recorded a net profit of $136 million for the second quarter compared with a year-earlier $109 million loss.
Shipping group Maersk on Wednesday issued full-year earnings guidance above its forecast at the beginning of the year and said it expects demand for moving containers at sea to return to pre-COVID levels in the first half of next year.The company's share price jumped more than 7% in early trade to an eight-month high, and has doubled in value since March
The eastern Mediterranean region where a Turkish ship will carry out a seismic survey is part of Turkey's continental shelf, Ankara said on Wednesday, rejecting Greece's accusation that the ship is encroaching on its own shelf.Long-standing tensions between the NATO allies escalated after Turkey's navy on Tuesday issued an advisory known as a Navtex for seismic surveys in waters between Cyprus
Canadian shipbuilder Seaspan Shipyards on Friday launched the final ship in a series of three Offshore Fisheries Science Vessels (OFSV) for the Canadian Coast Guard.The 63.4-meter CCGS John Cabot will next undergo sea trials before its delivery to the Coast Guard later this summer. The vessel will be based in St. John’s, Newfoundland and Labrador.
The Baltic Exchange's main sea freight index recorded its biggest ever daily percentage jump on Wednesday, propelled by surging capesize rates due to a spike in iron-ore shipments.The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 192 points, or about 18.2%, to 1,246, its highest since Dec. 17.
In an alert that appeared aimed squarely at Iran, the U.S. Navy issued a warning on Tuesday to mariners in the Gulf to stay 100 meters away from U.S. warships or risk being “interpreted as a threat and subject to lawful defensive measures.”The notice to mariners, which was first reported by Reuters, follows U.S.
Shipping group A.P. Moller-Maersk warned of a sharp drop in global container volumes due to the coronavirus pandemic, with weaker retail sales and depressed car production dampening demand.The crisis has thrown the container shipping trade off balance as supply chains have been upended and businesses and factory activity in China and later across the world was disrupted.
As many markets struggle to find their footing in the face of the global COVID-19 pandemic, a recent podcast with Martin Muhleisen, director of the IMF's Strategy, Policy, and Review department, helps to lend insight and perspective from the view of the International Monetary Fund.
Trading house Glencore has chartered the 3 million barrel crude carrier Europe to store oil at sea for at least 6 months, trading sources on Tuesday.The vessel is one of two so-called ultra large crude carriers (ULCC), the largest tankers in the world.Glencore booked the vessel at a rate of $37,000 a day for the first six months, according to the sources.A Glencore spokesman declined to comment.
The plight of the cruise ship off Japan with more than 200 coronavirus infections and the shunning of another by five ports despite no known cases has led to a sharp change in tack for an industry in shock: avoid Asia.To that end, many cruises in the region are being cancelled while others currently sailing are being re-routed, skipping originally scheduled stops in China, Hong Kong and Singapore.
North Vancouver shipbuilder Seaspan Shipyards on Thursday held a keel laying ceremony for the Royal Canadian Navy’s future joint support ship HMCS Protecteur.Scheduled for 2023 delivery, the newbuild is the first of two joint support ships to be constructed by Seaspan as part Canada's National Shipbuilding Strategy (NSS). With a length of 173.