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...A US hedge fund is seeking to reverse a high-profile deal between Frontline, controlled by shipping magnate John Fredriksen, and one of Belgium’s oldest shipping dynasties....
...But targets without policies are just that — targets (“UK ‘not exciting’ for green investors, says former climate adviser”, Interview, May 1)....
...Faced with an especially uncertain outlook, Maersk said it would be scrapping the fifth part of a share buyback plan, worth $1.6bn, that it had announced in November....
...Dominguez, a Panamanian national who took office on January 1, said the IMO had urged coastal states to maintain their protections against piracy....
...Altice Média employs about 1,700 people including 900 journalists....
...How long it lasts depends on when order is restored to shipping lanes....
...Rates for 40ft containers to Northern Europe from China have risen from $1,148 at the end of November last year to about $4,000 today....
...rates,” said Emily Stausbøll, market analyst at Xeneta, a shipping data firm....
...Neal told the Financial Times that the incident had the potential to produce the largest marine insurance claim in history, topping the crash of the cruise ship Costa Concordia in 2012, which cost about $1.5bn...
...Sea Intelligence estimates that for a modern large container ship a 1 per cent speed increase typically produces a 2.2 per cent rise in fuel consumption....
...Hong Kong’s Hang Seng index gained 1.2 per cent with computer maker Lenovo leading gains with 8.1 per cent....
...The responsibility for keeping the trade artery open between east and west no longer lies with commercial shipping companies....
...The ministry raised its death toll in Gaza to more than 20,600 since the start of the war on October 7, when Hamas militants infiltrated southern Israel, killing 1,200 people, according to Israeli authorities...
...But with the US shipbuilding industry producing less than 1 per cent of the world’s commercial vessels, analysts described the notion that the country could win back significant market share as “ridiculous...
...Our Shipping Equity Research team pointed out that these bottlenecks will impact container trade most, with 8.1% of global container volume traversing the Panama Canal and 28% flowing through the Suez....
...The cost of moving a box from Shanghai to Genoa also doubled, from $1,956 to $4,178. Shipping lines have increasingly been deserting Red Sea and Suez Canal routes since late November....
...At least 1,200 people were killed in Hamas’s assault, according to Israeli officials. The militants also seized about 240 hostages....
...Orient Overseas (International) announced a $1.4bn profit for 2023 on Thursday, down from $10bn in 2022. The company also cut its final dividend by more than 90 per cent....
...The longer route would generate an additional 1,812 tonnes of carbon dioxide, according to MarineTraffic....
...The vessel is operated by Geneva-based Mediterranean Shipping Company, the world’s biggest container shipping line....
...around Africa have tightened the availability of ships and led to rates more than doubling since mid-December on the key Shanghai to Rotterdam route, rising to $3,100 per standard 40-foot container from $1,400...
...The Houthis fired their latest missile at about 1.45pm local time into “international shipping lanes” in the southern Red Sea, according to the US Central Command....
...The Hamburg-based company said average freight rates in the quarter ending September stood at $1,312 per 20ft equivalent unit, compared with $3,106 in the same period last year....
...China is shipping more goods to the US via Mexico, circumventing steep tariffs imposed by the Trump administration and retained by Joe Biden’s White House, according to a Financial Times analysis of trade...
...WTO economists forecast in their annual report that world merchandise trade volumes should increase by 2.6 per cent in 2024 and 3.3 per cent in 2025 after dropping 1.2 per cent in 2023....
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