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...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...
...from undercutting the bloc’s heavy industries, which are subject to strict climate regulation and have to pay for greenhouse gas pollution under the bloc’s emissions trading system....
...Despite growing political consensus to tackle the problem, there are knock-on effects for the global shipping industry from stricter customs controls, experts said....
...In addition, China’s state-owned shipping and logistics company Cosco is building a deepwater port at Chancay, 70km north of Lima....
...A Chinese state-owned shipping company building one of Latin America’s biggest deepwater ports has criticised a move by the Peruvian government to remove its exclusive right to operate the facility....
...Two of the world’s biggest container shipping lines have announced a new partnership, in a major reshaping of the industry’s commercial relationships....
...Boxships from China’s state-owned Cosco are also making costly and time-consuming re-routings around the Cape of Good Hope....
...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...
...Heavy industry is responsible for about a quarter of US greenhouse gas emissions....
...Chinese lines’ move to the Red Sea comes after most big container shipping lines — including China’s Cosco, operator of the industry’s fourth-biggest fleet — abandoned the southern Red Sea because of the...
...The results come as the Issa brothers, who also co-own petrol station empire EG Group with TDR, seek to simplify the division of assets between them....
...However, some in the shipping industry are sceptical as to how much capacity will shift to other markets....
...Cosco Shipping, a Chinese state-backed shipping and logistics company, has a 60 per cent stake in the port, with the remainder in the hands of Volcan, a Peruvian mining company....
...The shipping group will still use the aircraft, but trying to break into the industry on its own has its challenges too, a third person familiar with CMA CGM’s business said....
...The WSC highlighted that the commission’s decision does not outlaw co-operation between shipping groups....
...Often the cost of shipping and processing a return is almost as large, if not larger, as the cost of the item itself. Occasionally, the product is damaged in transit and can’t be sold on....
...Customers in heavy industry could then use the hydrogen in applications such as steelmaking....
...The lack of bookings “seems unusual for what I thought would be a period of heavy demand, but that €100 is not going to make or break my day”, Stefania said....
...The shipping industry is turning to high-tech “wings” to speed up its path to decarbonisation. The wing, called FastRig, acts as a sail and could cut fuel consumption by up to 30 per cent....
...able to hold up to 78bn tonnes of CO₂....
...He had been JPMorgan’s co-head of Emea M&A and co-head of its global strategic investor group M&A. Blackstone has hired Dan Leiter as international head of the firm’s credit and insurance business....
...And one thing to start: Adam Neumann, the co-founder of WeWork, has submitted a conditional bid of about $600mn for the bankrupt co-working company he led until 2019, according to three people briefed on...
...He noted Beijing’s heavy subsidies for industry led to great domestic overcapacity and goods being exported abroad at ultra-low prices....
...Patrick Murphy, a shipping lawyer at Clyde & Co, also said sanctions were likely driving more “frictional” disputes over contracts....
...without a domestic tax doesn’t do much to promote decarbonisation at home, is very likely WTO-illegal and to much of the rest of the world will look like yet another way the US has found to protect its steel industry...
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