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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 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...
...Shipping currently accounts for around 3 per cent of global carbon emissions annually....
...That seems to be the strategy adopted by big container shipping companies....
...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 re-routings have forced shipping lines to devise new arrangements for goods going between Asia and ports in Italy, Greece and Turkey....
...Newcastle United football club director Amanda Staveley faces paying a Greek shipping magnate almost £3.5mn after losing a legal bid to prevent him from pursuing bankruptcy proceedings against her....
...The container shipping industry, a bellwether of global trade, is facing a difficult period following a boom driven by the Covid-19 pandemic....
...Enrico Vergani Partner and Lead on Shipping, Transport & Logistics, BonelliErede (lawyers) London EC4, UK...
...That means earnings for shipping companies and their shareholders also have a tendency for exaggerated cyclicality....
...Some rival shipping groups including AP Møller-Maersk have suspended the Red Sea route linking Europe and Asia....
...Simon Heaney, senior manager in container research at London-based Drewry Shipping Consultants, said alliances were vital for shipping lines and their customers....
...Dominguez also expressed admiration for how the shipping industry had coped with the security crisis around the Red Sea. “Shipping continues to be resilient,” he said....
...How long it lasts depends on when order is restored to shipping lanes....
...Shipping magnate Rodolphe Saadé is expanding his media holdings in France by buying news channel BFM TV and RMC radio station from fellow billionaire Patrick Drahi....
...Shipping analysts at Sea Intelligence said that shipping line customers were “caught between a rock and a hard place” by the operators’ decisions to increase vessel speeds....
...The abandonment of the bid is a setback for CMA CGM’s efforts to develop a stronger logistics function to complement its core shipping business....
Head of London market says disaster may produce largest maritime claim in history
...rates,” said Emily Stausbøll, market analyst at Xeneta, a shipping data firm....
...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....
...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....
...“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....
...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....
...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...
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