Finance News

 

China's COVID Woes Are Pressuring Supply Chains

Jan 06, 2023

Declining world supply chain pressures are being challenged by new disruptions in China tied to the coronavirus pandemic, the New York Federal Reserve reported on Friday.The regional Fed bank's December Global Supply Chain Pressure Index ticked down to 1.18 from November's revised 1.23 reading. According to the report, supply chain pressures have been easing notably since the spring of last year and bottomed in September…

Investment Firm Arroyo Buys Into LNG Bunkering

Jan 24, 2023

Houston-based investment manager Arroyo Investors announced it has closed an investment in Seaside LNG and its affiliated entities, an integrated shore-side liquefied natural gas (LNG) liquefaction and bunkering platform in the U.S. Financial details were not disclosed…

Wanted: A Sea-change in Climate Finance for Oceans

Dec 28, 2022

The oceans are inextricably connected to the health of the planet, and of humans: they absorb up to 30% of annual greenhouse gas (GHG) emissions and 90% of excess heat, and over 3 billion people — almost half the global population — depend directly…

Suez Canal Open to Foreign Investment, Sovereignty Protected

Dec 22, 2022

Egypt's Suez Canal welcomes foreign investment but foreigners would have no control over the waterway or over a proposed fund that would help to manage its resources, the head of the Suez Canal Authority (SCA) said on Thursday.SCA Chairman Osama…

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…

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…

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…

Logistics News

Wisconsin Awards $5.3 Million in Harbor Maintenance Grants

Wisconsin Awards $5.3 Million in Harbor Maintenance Grants

'Mega Green Port' Project Planned in Åland

'Mega Green Port' Project Planned in Åland

UK Freeports Risk Harboring International Crime

UK Freeports Risk Harboring International Crime

Number of Ships Loading LNG in Spain Doubled in 2022

Number of Ships Loading LNG in Spain Doubled in 2022

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