Hints and tips:
Related Special Reports
...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...
...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...
...More than 80 per cent of the world’s container shipping capacity is controlled by nine companies, including China’s Cosco and Switzerland’s Mediterranean Shipping Company, according to data provider Alphaliner...
...The Behshad is registered as an ordinary dry bulk carrier, and outwardly looks like any of the thousands of such vessels that ply the oceans....
...But Nuctech is a subsidiary of Tsinghua Tongfang, which is partly owned by China National Nuclear Corporation, a powerful civilian and military nuclear group....
...The other big alliance — the Ocean Alliance — between France’s CMA CGM, China’s Cosco and Taiwan’s Evergreen — controls 29.3 per cent of the fleet....
...Denmark’s Ultrabulk, another big shipping company, and Drax, the UK power generator, are also collaborating on the project....
...However, the group was working with a salvage company to have the ship towed to Djibouti....
...Under an agreement announced last year, Frontline bought $2.35bn of oil tankers from crude oil shipping group Euronav, in exchange for selling a shareholding in the business to Compagnie Maritime Belge....
...ZPMC is part of the state-controlled China Communications Construction Company....
...Dominated by a few huge companies like Switzerland’s MSC and Denmark’s Maersk, container lines operate like a regular conveyor belt across the oceans....
...“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....
...The Ruen, owned by Bulgarian shipping company Navibulgar, had been seized by pirates in December....
...group, and then reinsure losses above that at Lloyd’s of London....
...The Danish group will also spin off its towage business Svitzer and distribute the shares to existing investors, it said on Thursday....
...Jeremy Nixon, chief executive of Japan’s Ocean Network Express, said many shipping lines were facing scheduling problems....
...China meanwhile has tripled its production relative to the US over the past two decades, producing over 1,000 ocean-going vessels last year, versus America’s 10....
...But the disruption has been something of a gift to shipping lines. Danish containerline Maersk joined other groups and confirmed this week that transits along the route would pause....
...Last year Danish group AP Møller-Maersk said the $987mn acquisition of its refrigerated container business by state-owned China International Marine Containers (CIMC) had been scrapped....
...A chemical tanker operating in the Indian Ocean has been attacked by a drone launched from Iran, according to the US military, expanding the threat faced by international merchant shipping....
...French container shipping group CMA CGM abandoned its pursuit of UK logistics company Wincanton on Tuesday, making it almost certain that a rival bid by GXO would succeed....
...According to Clarksons, the shipping services group, long-distance seaborne car shipments in 2023 were 17 per cent higher than the previous year, largely because of big increases in exports from China....
...“Now carmakers are back to production, coupled with China exports, shipping is becoming more of a battle.”...
...He said China had already registered five mineral-rich ocean sites with the ISA, which the US cannot join unless it ratifies Unclos....
...The Dassault family, which owns a major defence company, holds Le Figaro newspaper....
International Edition