The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to over one-year high on Friday as rates for capesize vessels surged on higher iron-ore demand.The overall index, which factors in rates for capesize…
Peter Norborg will take over as CEO of Swire Bulk at the start of 2021, parent company the China Navigation Company Ltd (CNCo) announced Thursday.Norborg has held several top-level management positions in leading shipping companies, including his most recent role as CEO of Clipper Group…
Ship management and marine support services giant V.Group said on Wednesday it has appointed René Kofod-Olsen as the company’s chief executive officer, taking over from Graham Westgarth who will become chairman. Kofod-Olsen will join V. Group on November 1…
Finnish engineering firm Konecranes and cargo handling machinery maker Cargotec plan to merge to help speed up innovation and reap savings, they said on Thursday, sending both of their shares sharply higher.The boards of the companies, which…
Although many of China’s major bulk imports, such as iron ore and crude oil, have seen strong growth so far this year despite the COVID-19 pandemic, imports of coal have followed the opposite trajectory. Staggering high growth in January through…
The world is in the midst of the second coronavirus wave and with that comes the natural question of how the current dynamics will play out for the dry bulk shipping market. Demand and the subsequent cargo flow of the major dry bulk commodities are critical for the freight market…
CMA CGM suspects a cyber attack affecting its servers led to a data breach, the global shipping line said on Wednesday as it continued to restore online services.'We suspect a data breach and are doing everything possible to assess its potential volume and nature…
Finland-based marine engine and technology provider Wärtsilä has appointed Håkan Agnevall as its next president and CEO.Agnevall, who is currently president of Volvo's bus division, will start in his role no later than in April 2021, succeeding Jaakko Eskola…
French container shipping company CMA CGM Group said Tuesday that its maritime and port operations were functioning normally after a cyber attack hit its servers on Monday.'All communications to and from the CMA CGM Group are secure, including emails…
Golar LNG said on Tuesday Hygo Energy Transition Ltd Chief Executive Officer Eduardo Antonello has taken leave of absence with immediate effect, following a corruption investigation involving him in Brazil.Golar said Antonello's leave was in…
The International Maritime Security Construct (IMSC) was created July 2019 as a way to deter unprofessional behavior in the waters of the Middle East region through its operational arm, Coalition Task Force (CTF) Sentinel.The IMSC comprises eight nations – Albania…
As stated in the Declaration of Malabo at the 5th Summit of Heads of State and Government of the GECF Member Countries, in order to sustain the security of demand and supply of natural gas, it is necessary to ensure sufficient investments through…
Container shipping group CMA CGM said on Monday it is dealing with a cyber attack impacting its peripheral servers.The attack did not concern the systems of its subsidiary CEVA Logistics, it added in a statement.CMA CGM said external access…
West of England P&I Club said that Captain Simon Hodgkinson has been appointed as Global Head of the West’s Loss Prevention Department. He joins from Polarcus, where he was Head of Marine Operations and responsible for the performance of a fleet of ultra-modern seismic vessels…
A labor union representing Argentine grains port workers said on Sunday it would stage a 24-hour walk-off from midnight after failing to strike a deal on a collective work agreement with the business chamber that represents private port owners…