Shipping group CMA CGM on Friday reported a surge in third-quarter earnings and said it expected an even stronger performance for the end of the year as intense demand kept freight rates high and container capacity stretched.French-based CMA CGM, one of the world's largest container lines, said net profit rose to $5.
The world's largest shipping firm A.P. Moller-Maersk has suspended five employees as part of an investigation into an alleged sexual assault on one of its ships run by a U.S. subsidiary, and said it was working closely with American authorities."We do everything we can to ensure that all of our workplace environments, including vessels
The global oil tanker market faces another year of low earnings as the coronavirus pandemic and vaccine inequalities disrupt demand and producers limit output of crude, a shipping analyst said on Wednesday.The earnings of very large crude carriers (VLCCs) that carry the bulk of crude stand at about $10,000 a day, down from 2020 record highs of more than $240,000
New virus mutations and outbreaks have slowed the recovery in global oil demand as some countries lock down again and international travel remains complicated.Drivers of demand and freight ratesTo say that the summer has not been kind to the crude oil shipping industry would be an understatement.
The 15,000 TEU Brussels Express is the first large containership in the world to have been converted to liquefied natural gas (LNG) propulsion, German shipping company Hapag-Lloyd said on Monday, as operators look to LNG fuel to reduce their environmental footprint.In September 2020, the ship went into the Huarun Dadong Dockyard in Shanghai where the conversion was performed.
“Fill her up, son; unleaded. I need a full tank of gas where I'm headed,” former Police-front man, Sting, sang back in 1999 on his solo album Brand New Day. This country-inspired song could be the anthem for what is coming around next week, as Monday. May 31 is Memorial Day in the U.S., the day that kicks off “the U.S. driving season”.
The Biden administration granted oil refiner Citgo Petroleum a maritime shipping waiver allowing it to move fuel between U.S. ports on a foreign flagged vessel, two sources told Reuters on Friday, making it the second company to secure one this week.The waivers are intended to help ease distribution of fuel after a major pipeline serving the U.S.
The second vessel in the ShadowCat range, Wayfinder, has been delivered, naval architect Incat Crowther and yacht services fir YCTS Ltd announced. Wayfinder builds on the capability of Hodor, delivered in 2019.Wayfinder has a 68-meter length, 14-meter beam and a draft of 2.4 meters which permits close coastline navigation.
The National Transportation Safety Board found that the erratic steering of a supply vessel led to a 2019 collision resulting in more than 6,000 gallons of diesel oil being dumped into the Sabine Pass, a busy waterway between Texas and Louisiana.On Thursday, April 8, 2021, NTSB released Marine Accident Brief 21/08 detailing its investigation of the collision between offshore supply vessel
Venezuela is shipping jet fuel to Iran in return for vital gasoline imports for the South American nation as part of a swap deal agreed by the two state-run oil firms, three people with knowledge of the matter told Reuters.Iran has ramped up assistance to Venezuela since last year as the United States tightened sanctions on both countries
France's next-generation aircraft carrier will be nuclear-powered and replace the national fleet's flagship warship, the Charles de Gaulle, in 2038, President Emmanuel Macron said on Tuesday.The 11th carrier-vessel in the French Navy's history will be built by French defense contractor Naval Group and equipped with the new electromagnetic aircraft launch system developed by U.S.
A Marshall Islands-flagged tanker helped rescue two people from the water after their boat sank in the Torres Strait.At about 7:15 a.m. AEST on Thursday, a coastal pilot on board the tanker Godam contacted Townsville Vessel Traffic Services (VTS) to report a sighting of two people clinging to a timber plank in the water.