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…
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 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…
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…
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…
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…
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…
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…
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…
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…
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…
As ports and hinterland transport struggle to keep up, delays at ports are soaking up capacity leading to frustration on the shippers’ side and leaving carriers struggling to keep up all the while making record profits, shipping organization BIMCO reports…
State-backed holding company ADQ said on Tuesday it plans to list Abu Dhabi Ports Co on the Abu Dhabi Securities Exchange (ADX) before the end of the year.The proposed listing of a portion of existing shares is expected before the end of 2021…
The world's biggest container shipping company, A.P. Moller-Maersk, on Monday lifted its full-year earnings outlook after reporting strong preliminary quarterly results as chaotic conditions in the global supply chain pushed freight rates higher…
Egypt's Suez Canal revenue rose to a record $5.84 billion in its 2020-21 financial year (July-June), up from $5.72 bln in the previous year, the Suez Canal Authority said on Sunday.The Authority also said the canal's revenues in the first six…
