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...Airlines and other carbon-intensive industries are charged under emissions trading systems in the EU, UK and Switzerland, which require companies to buy allowances to cover the carbon dioxide they give off...
...The boss of shipping giant AP Møller-Maersk has warned it could take months to reopen the crucial Red Sea trading route, risking an economic and inflationary hit to the global economy, companies and consumers...
...In July 2022, GTS Investments BV agreed to sell a 40 per cent stake in GTS to a Dubai-based company ultimately controlled by Troost, a 30-year veteran of the oil trading industry....
...The US government has imposed sanctions on companies accused of shipping or trading Russian oil in violation of western rules but is yet to target an individual for involvement....
...Denmark’s Ultrabulk, another big shipping company, and Drax, the UK power generator, are also collaborating on the project....
...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....
...Shares in Copenhagen-listed Maersk fell more than 13 per cent in early trading on Thursday....
...The vessel is operated by Geneva-based Mediterranean Shipping Company, the world’s biggest container shipping line....
...Shipping companies that operate into and out of EU ports were included in the emissions trading scheme — which forces emitters to buy permits for excess emissions — since the start of this year....
...“It is always inevitable that Hong Kong would contract as a port,” said Tim Huxley, chair of Hong Kong-based shipping investment company Mandarin Shipping. “Manufacturing moved elsewhere....
...Companies trading commodities such as iron ore and grain have threatened legal action and sought to alter contract terms to pressure shipowners to use the Suez Canal route, which is more dangerous, but also...
...emissions trading scheme (ETS) from January....
...Shipping companies may also be reluctant to order new vessels due to uncertainty over green regulation and alternative fuels, said Stephen Gordon, research director at Clarksons....
...French container shipping magnate pivots to media Rodolphe Saadé, the head of French container shipping giant CMA CGM, has long shunned the limelight at the helm of his family-owned company in Marseille...
...French business: Rodolphe Saadé, head of shipping group CMA CGM, has been on a €35bn deal spree that has thrust him and his family’s company into the spotlight....
...Mediterranean Shipping Company, the world’s biggest container line, and Maersk, the market number two, have also expanded their logistics operations in recent years, both through organic growth and acquisition...
...Simon Heaney, senior manager in container research at London-based Drewry Shipping Consultants, said there was “definitely pain” for shipping companies’ customers as a result....
...said a trader at one European shipowner and commodities trading house. “They could think: ‘That ship is going to Israel. So we will take a pop at it.’”...
...The Norwegian company is the biggest participant in a corner of the shipping industry facing different dynamics from container lines, which are saddled with excess capacity....
...Many shipping companies have responded by postponing journeys through the region — a crucial passage between Asia and Europe....
...“There’s so much shipping capacity coming on stream that in the long run the increase in rates evens out,” says Ryan Petersen, chief executive of the freight forwarding and logistics company Flexport....
...China’s largest shipping company, state-owned Cosco, has been forced to reroute cargo away from the region, said Stefan Angrick, associate director and senior economist at Moody’s Analytics, raising the...
...In today’s more flexible trading system, it’s striking how global goods commerce finds a way round even if one of those doors is locked....
...Shipping companies generally prefer to settle disputes through arbitration hearings as these remain private....
...Interestingly, the share prices of the big shipping companies have risen rather than fallen after the attacks (sure, freight rates have risen, but so have their costs from longer trips)....
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