Finance News

 

Hapag-Lloyd More Than Trebles H1 Net Profit, Sees Economic Uncertainty

Aug 11, 2022

German container shipper Hapag-Lloyd on Thursday posted a net profit of 8.7 billion euros ($8.94 billion) for the first half of 2022, more than three times as much as a year earlier, but said war in Ukraine and the coronavirus crisis somewhat clouded its prospects.The company, the world's fifth-biggest container line, upheld forecasts made on July 28 for full year 2022 earnings before interest, tax…

Alternative Fuels, Newbuilds and Retrofits are Key to Marine Industry Growth

Nov 15, 2022

The global marine vessel market is projected to grow from $170.75 billion in 2021 to $188.57 billion in 2028 at a CAGR of 1.43%, according to research from Fortune Business Insights.From transportation vessels to workboats to marine construction ships…

Kelleher to Succeed Tivnan as Ardmore Shipping CFO

Jul 27, 2022

Tanker owner/operator Ardmore Shipping Corporation on Wednesday announced the planned departure of its current chief financial officer Paul Tivnan and appointment of new CFO Bart Kelleher, effective September 28, 2022.Anthony Gurnee, Ardmore's chief executive officer…

Nippon Yusen Kabushiki Kaisha Revises Financial Outlook

Jul 21, 2022

Nippon Yusen Kabushiki Kaisha has upgraded its financial outlook for the fiscal year ending March 2023, projecting higher revenue and operating profits across the board in light of changing market conditions across multiple sectors it serves…

CMA CGM to Lower Some French Shipping Rates to Curb Inflation

Jun 30, 2022

Shipping giant CMA CGM said on Thursday it would reduce container shipping rates for some common consumer products imported in France to support government steps to curb inflation.The group will from Aug. 1 reduced shipping rates by 500 euros ($520…

Singapore's New Trade Data Sharing Platform Aims to Stem Fraud

Jun 01, 2022

A Singapore trade data sharing platform backed by banks, commodity houses and state firms has signed up 70 participants as part of the city-state's attempts to bolster confidence after a spate of commodity trade finance frauds in recent years…

ClassNK Supports Ship Finance for Decarbonization with CO2 Emissions Calculations

Feb 17, 2022

ClassNK will calculate the CO2 emissions from the ships to be financed under the Sustainability-Linked Loan provided by ORIX Corporation (ORIX). The ship finance agreement signed between ORIX and a shipowner in Hong Kong is a sustainability-linked loan…

Suez Canal Authority Considers Floating Some Units

Feb 15, 2022

The Suez Canal Authority is considering listing shares of some of the companies it owns on Egypt's stock exchange, authority chairman Osama Rabie told CNBC Arabia on Tuesday.Rabie added that the authority expects to sell 20% stakes in two or three companies…

Loadsmart Valuation Hits Over $1 Billion After Funding Round

Feb 01, 2022

Freight tech firm Loadsmart Inc said on Tuesday it was valued at $1.3 billion in its latest funding round, led by SoftBank Latin America Fund and funds managed by BlackRock Inc.The company raised $200 million in the Series D funding round from…

Shipping Costs: Another Danger for Inflation-watchers to Navigate

Dec 10, 2021

Much like the coronavirus pandemic, and the economic disruption that it has caused, a global shipping crisis looks set to go on delaying goods traffic and fueling inflation well into 2023.Shipping rarely figures in economists' inflation and GDP calculations…

Hapag-Lloyd Profit Soars 10-fold on Record Freight Rates

Nov 12, 2021

German container shipping line Hapag-Lloyd reported a more than 10-fold surge in nine-month net profit on Friday, citing record freight rates amid scarce transport capacity and rising transport volumes.The world's fifth biggest operator said net profit climbed to 5…

Valencia Containerized Freight Index (VCFI) rises for the 15th Straight Month

Nov 05, 2021

The Valencia Containerized Freight Index (VCFI), the indicator that measures the trend and evolution of container transport costs by sea from the Port of Valencia, stood at 3,743.95 points in October, which represents an increase of 5.23% over…

Japanese Shipping Companies Reap Big Profits Amid Supply Chain Chaos

Nov 04, 2021

Nippon Yusen and Kawasaki Kisen Kaisha, Japan's biggest and third-biggest shipping companies, reported record quarterly profits as they benefited from higher freight rates amid the chaos hitting global supply chains.The logjams and bottlenecks in the world's trade system…

Finance: UK Shakes-up its Shipping Tax to Attract Global Players

Oct 28, 2021

In an attempt to bring more international shipping firms onshore to the UK, the British chancellor of the Exchequer Rishi Sunak provided the biggest shake-up to the UK’s domestic tonnage tax since its introduction 20 years ago.The British government…

Shipping Industry Faces ESG Heat From Lenders

Oct 19, 2021

Banks are demanding much stricter environmental criteria when financing shipping companies as investor pressure grows on the sector to accelerate going greener, according to Boston Consulting Group (BCG).Shipping, which transports about 90% of world trade…

Logistics News

ABS Launches Maritime Software Firm ABS Wavesight

ABS Launches Maritime Software Firm ABS Wavesight

Maersk, IBM Discontinue Shipping Blockchain Platform

Maersk, IBM Discontinue Shipping Blockchain Platform

Access to Brazil's Paranagua Port Blocked by Landslides

Access to Brazil's Paranagua Port Blocked by Landslides

Long-term Ocean Container Rates Suffer Sharp Decline - Xeneta

Long-term Ocean Container Rates Suffer Sharp Decline - Xeneta

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