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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...
...The group restarted trips a few days later after a US-led military coalition tried to create safe passage, but it suffered a further attack at the end of December....
...The key moment in SGS’s genesis, according to Gilpin, came in 2015, when she met a group of shipowners at the Paris Climate Conference all concerned about the risks of buying ships reliant on new, untested...
...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....
...The container shipping industry, a bellwether of global trade, is facing a difficult period following a boom driven by the Covid-19 pandemic....
...Some rival shipping groups including AP Møller-Maersk have suspended the Red Sea route linking Europe and Asia....
...However, the group was working with a salvage company to have the ship towed to Djibouti....
...the volatility of container shipping and build a media business....
...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....
...Synergy Group, the Singapore-based owner of the Dali, did not immediately respond to a query about whether it planned to take advantage of the limited liability provisions....
...That means earnings for shipping companies and their shareholders also have a tendency for exaggerated cyclicality....
...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....
...Although the company still turned a profit over the 12-month period, with net income down 21 per cent to $3.6bn, in the fourth quarter the group swung into a $90mn loss because of falling shipping rates...
...rates,” said Emily Stausbøll, market analyst at Xeneta, a shipping data firm....
...were linked to the Red Sea shipping attacks....
...The US and 11 other countries condemned attacks by Houthi rebels on commercial shipping in the Red Sea and warned the militant group of potentially severe consequences if their attacks continued....
...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....
...militant groups that was triggered by the Israel-Hamas war....
..., where they have come under drone and missile attacks from the Houthis, a Yemen-based militia group....
...The group also struck the True Confidence saying it was an “American ship” even though it had been sold to a Greek company days before....
...In January, Republican members of the same congressional committees wrote to Swiss industrial group ABB, saying it had failed to answer questions about the “alarming security vulnerability” of software it...
...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....
...Shapps said the assaults on shipping had forced 12 international companies, including energy group BP and Maersk, to suspend passage through the Red Sea, and caused insurance costs to increase 10-fold since...
...CMA CGM, the French shipping group, last month agreed to buy the company for 450p a share in a recommended bid....
...The group also said disruptions to shipping in the Red Sea had complicated this year’s outlook....
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