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Drewry forecasts $80 billion profit in 2021 for container lines
According to UK-based Drewry maritime consultancy, global container carriers are on track for an annual 2021 profit of $80 billion, and this could even stretch to $100 billion should rates continue their meteoric rise through the second half of this year. This represents a substantial upgrade to its $35 billion forecast of earnings before
Ever Given to leave Suez Canal Wednesday
The 20,388TEU Ever Given is to leave the Suez Canal for Northern Europe after more than three months of legal wrangling, following an agreement announced between the Suez Canal Authority (SCA) and the vessel owners and insurers. “Following the agreement in principle between the parties, and after further meetings with the Suez Canal Authority’s negotiating committee
Theo meets his new father
After tasting the pleasures of the old capital for a few days, Theodore TOO approaches Trois-Rivières where he is expected around supper time. Funny fact, Theo symbolically met his new owner when he crossed the M.V. Blair Mckeil off Batiscan. It was indeed Blair McKeil who recently purchased Theodore TOO, he that ran for many
Many of the twelve largest container carriers have not published their Sustainability Reports for the year 2020 yet
There is so much talk about the environmental commitment of the largest container carriers. The companies have joined initiatives and promised serious efforts to decarbonize and become more environmentally responsible. However, the first half of 2021 ended yesterday, and seven out of the twelve largest container carriers in the world have not released their
Lloyd’s Register to focus growth on expanded role in maritime industry
Lloyd’s Register, a global provider of professional services specialising in engineering and technology solutions, has announced the sale of 100% of its Business Assurance & Inspection Services division, including cyber-security business Nettitude, to Goldman Sachs Asset Management. The transaction is a key milestone in Lloyd’s Register’s strategy to become the go-to partner and adviser
Container rates to remain at record levels into 2022
According to Moody’s Investor Service, container shipping rates will remain at record levels for the rest of this year and into 2022. Global demand is significantly outpacing capacity in an environment that will further increase carrier profits. “We expect financial performance to be even better in 2021 than it was in 2020,” the ratings
Ottawa gives final thumbs down to Laurentia container project
By Leo Ryan, Editor Canada’s federal government has delivered a clear rejection of the Port of Québec‘s ambition to launch a second container gateway on the St. Lawrence River complementing Montreal, affirming that the Laurentia project does not meet the standards of economic development that fully respect the environment. This decision Tuesday by the
Vaccination delays causing crew shortages and rising wages, warns Danica
Costs are rising in the crewing sector and crew shortages are beginning to be seen as Covid-19 travel restrictions and vaccination delays impact on the availability of trained seafarers, warns Danica Crewing Services. Noting recent changes in the availability of crew members, Henrik Jensen, Danica Managing Director, said that the Eastern European crewing market