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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....
...The chief of Germany’s largest military contractor Rheinmetall has urged European countries to ditch their preference for national champions and build bigger, more specialised defence groups to compete with...
...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...
...Whatever errors Anglo made abroad, its battles at home with an ANC that saw it both as national champion and national piñata cannot have helped....
...As well as the MSC Orion attack, the Houthis also on Friday hit the Andromeda Star, an oil tanker sailing through the Red Sea....
...“My message to UKRI and to scientists and researchers is that a Labour government would want to work constructively and collaboratively with them and to champion the sector,” Onwurah said in an interview...
...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...
...Newcastle United football club director Amanda Staveley on Wednesday called on a judge to block a shipping magnate from pushing her into bankruptcy as her lawyers called a multimillion-pound demand he has...
...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...
...Ambrey described it as “UK registered and Lebanon operated”. The Sea Champion’s registered owner is New York-based MKM Chartering....
...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....
...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...
...“They don’t have the scale to continue as they were.”...
...How long it lasts depends on when order is restored to shipping lanes....
...in the US as elsewhere....
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