German container shipping line Hapag-Lloyd on Thursday reported a nearly 10-fold increase in first-half net profit, citing surging freight rates amid scarce transport capacities.The group, the world's number five in the industry, said net profit climbed to 2.7 billion euros ($3.28 billion) from 285 million euros a year earlier.
A cargo ship was ordered to leave the U.S waters after U.S. Customs and Border Protection (CBP) agriculture specialists at the Port of New Orleans discovered invasive insects found in the wood used to secure its previous cargo offloaded earlier in Mexico. The ship, named Pan Jasmine, arrived at the anchorage of Davant, downriver from New Orleans at mile marker 54, on July 17
Germany is betting the U.S. administration will take a pragmatic approach to the Nord Stream 2 project to ship Russian gas to Europe and is pushing for the pipeline’s completion in defiance of U.S. opposition, officials and diplomats said.To try to block the $11 billion project, led by Russia’s Gazprom, successive U.S.
The newly commissioned Siem Aristotle joins sister ship Siem Confucius as the world’s largest liquefied natural gas (LNG)-powered pure car/truck carrier (PCTC) vessels.Operating exclusively for Volkswagen Group, the Siem Aristotle is the second in a series of two Super-Eco ships for the Siem Car Carriers fleet that run on cleaner burning LNG fuel to help reduce vessel emissions.
This year, despite innumerable challenges and setbacks, a great number of new U.S.-flagged vessels made their way into service. In addition to Maid of the Mist's new electric tour boats James V. Glynn and Nikola Tesla featured Wednesday, the newbuilds highlighted below are some of the most noteworthy to come out of U.S. shipyards in 2020.DredgerU.S.
Russia has resumed construction of the politically-charged Nord Stream 2 gas pipeline to Germany, laying pipes after a one-year hiatus prompted by U.S. sanctions, the pipeline operator said on Friday.An alleged nerve agent attack on Kremlin critic Alexei Navalny in August was the latest political controversy to hit the nearly-completed Nord Stream 2 gas pipeline
German container liner Hapag-Lloyd AG is confident of achieving higher earnings in 2020 as lower fuel prices cut shipping costs, demand in Asia recovers and fleet capacity is tight, chief executive Rolf Habben Jansen said on Friday."Oil prices have fallen sharply in the coronavirus crisis, that has given us tailwind, especially in the weak second quarter
Gazprom said on Friday it had finished construction of the Nord Stream 2 subsea pipeline to Germany, completing Moscow's project to increase its gas export capability and bypass Ukraine, but flows have yet to be cleared by regulators.The much-politicized pipeline will double Russia's gas exporting capacity to Europe via the Baltic Sea and will allow Moscow to circumvent its political foe Ukraine
German container shipper Hapag-Lloyd said on Thursday it almost tripled its net result in 2020 due to lower costs and higher freight rates, but shied away from specifying 2021 results due to uncertainty in the coronavirus crisis.The net result in 2020 amounted to 935 million euros ($1.
Container shipping firm Hapag-Lloyd said surging demand for bulky goods like exercise equipment from locked-down consumers may flatten out in the second or early third quarter, helping to ease disrupted shipping logistics."Things will normalize somewhere hopefully in the course of the second quarter or towards the beginning of the third quarter
German container liner Hapag-Lloyd expects transport volumes in the fourth quarter to pare sharp losses seen earlier this year as a demand recovery in Asia lifts seaborne shipments.Fourth quarter volumes should show a low single-digit gain year-on-year after they fell by 3.5% in the January-September period
Global container liner problems related to post-corona logistics hiccups have intensified in the third quarter and show no sign of letting up, the world's number five operator, Hapag-Lloyd, said on Thursday.Chief executive Rolf Habben Jansen told reporters in an online briefing that container usage in August was up 20% year-on-year.