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...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...
...For three of the vessel numbers identified, the vessel owner was listed as Pertamina, the shipping arm of Indonesia’s state-owned oil company. Pertamina did not respond to a request for comment....
...However, Judge Schaffer in the Insolvency and Companies List, part of the High Court, found against Staveley on a series of grounds....
...The container shipping industry, a bellwether of global trade, is facing a difficult period following a boom driven by the Covid-19 pandemic....
...rates,” said Emily Stausbøll, market analyst at Xeneta, a shipping data firm....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...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 figures from Clarksons, a shipping services company, container ship arrivals in recent days at the mouth of the Red Sea are 90 per cent down on levels in early December last year....
...The company, also focused on Ireland, has clients including Ikea and Asda....
...Enrico Vergani Partner and Lead on Shipping, Transport & Logistics, BonelliErede (lawyers) London EC4, UK...
...The Dassault family, which owns a major defence company, holds Le Figaro newspaper....
...That means earnings for shipping companies and their shareholders also have a tendency for exaggerated cyclicality....
...Many shipping companies have since December diverted sailings away from the Red Sea and Suez Canal to routes to avoid attacks by Yemen’s Houthi rebels....
...How long it lasts depends on when order is restored to shipping lanes....
...His company estimated that of all shipping segments only container shipping was suffering bigger upheaval as a result of the problems in the Red Sea....
...An extra 8 per cent in container shipping capacity was likely to come online in 2024, similar to last year’s levels, the company said....
...The speed increases follow nearly a decade of “slow steaming” by most shipping companies in a bid to economise on fuel use and minimise their carbon emissions....
...ZPMC is part of the state-controlled China Communications Construction Company....
...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...
...“I’m not so much of the view that there’s a huge oversupply in the container shipping industry,” Nixon said....
...Shares of the Hong Kong-listed shipping and logistics subsidiary of Cosco, one of the world’s largest shipping groups, dipped 15 per cent after the company reported profits fell 86 per cent year on year...
...Some of the world’s biggest shipping companies have halted journeys through the Red Sea because of the threat of attack by Yemeni rebels, in moves that could disrupt trade through the Suez Canal....
...Houthi attacks on vessels sailing through the Red Sea, a crucial shipping lane for global trade, began last year after Israel launched its war against Hamas in Gaza....
...The 20 vessels identified by the FT and Danwatch were carrying a total of about 10mn barrels of oil, according to Kpler, a data and analytics company....
...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....
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