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...The small group of billionaires at the pinnacle of French business that includes LVMH boss Bernard Arnault and corporate raider Vincent Bolloré has lately had to make room for a new kid on the block: shipping...
...He added that Maersk had little visibility over the security situation around the Red Sea as it was “morphing” all the time as well as being linked to the Israeli-Palestinian conflict....
...But, as goods travel shorter distances, that will dampen shipping demand relative to gross domestic product. This big bout of overcapacity will take longer to be absorbed. camilla.palladino@ft.com...
...As well as the MSC Orion attack, the Houthis also on Friday hit the Andromeda Star, an oil tanker sailing through the Red Sea....
...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....
...Among other means being tested to cut shipping emissions are the uses of methanol, ammonia and hydrogen as fuel....
...The boss of Maersk, overtaken as the world’s largest container shipping group in 2022 by Mediterranean Shipping Company, said he feared that the rise in costs unleashed by sailing around the Cape of Good...
...P&O’s crewing agency, PhilCrew, was “working with them to see how we can make it possible for as many of them to stay as possible”, he said, with “no guarantees” as to what would happen to them....
...As the chief executive and founder of a wind-as-a-service shipping technology business that secured funding from Scottish Enterprise, the Japanese shipping company MOL Drybulk alongside UK and international...
...Her lawyer Ted Loveday also told the court that Restis was now demanding only about £3.5mn, not the approximately £36mn he had initially sought, as he had abandoned an attempt to pursue her for more than...
...New York-listed Chubb will pay $350mn to the US state of Maryland, as insurers start to cover the collapse of Baltimore’s Key Bridge in March....
...Vessels have to pass through the strait to reach Gulf ports such as Dubai....
...The container shipping industry, a bellwether of global trade, is facing a difficult period following a boom driven by the Covid-19 pandemic....
...He said lines were using facilities as far away as Malta and Italy’s Gioia Tauro....
...long as possible....
...That means earnings for shipping companies and their shareholders also have a tendency for exaggerated cyclicality....
...“They don’t have the scale to continue as they were.”...
...CMA CGM, the world’s third-biggest container shipping group, said some of its vessels were continuing to go through the Suez Canal but warned of scheduling chaos and worried clients as attacks by Houthi...
...How long it lasts depends on when order is restored to shipping lanes....
...the volatility of container shipping and build a media business....
...Emissions from container ships, car carriers and dry bulk ships diverting from the Red Sea are set to increase as much as 70 per cent as vessel operators increase speeds to compensate for the longer route...
...However, they are still more than twice what they were as recently as January 18, the day before the announcement of the initial CMA CGM bid....
...The wrangling as to which group was more liable “can go on quietly and sensibly, and it will go on behind the scenes”, he said....
...Container ships as large as the Dali did not routinely call at US east coast ports until the Panama Canal lock upgrade in 2016, said Simon Heaney, at London-based Drewry Shipping Consultants....
...“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....
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