Russian maritime shipping company specializing in petroleum and LNG shipping, PAO Sovcomflot (SCF Group) has posted $70.1m in profit for the first quarter ended 31 March 2019.Sergey Frank, President and CEO of PAO Sovcomflot said: “Sovcomflot started 2019 with a strong Q1 performance…
Norway's Klaveness Combination Carriers (KCC) has raised 350 million Norwegian crowns in a private share placement, valuing the shipping firm at 2.27 billion crowns ($259.57 million) ahead of an Oslo stock market listing on May 22.Following the successful private placement…
Germany’s Schulte Group has launched a venture capital unit - INNOPORT - to identify investment opportunities in the global maritime start-up eco-system.The INNOPORT team, based in Hamburg, Limassol and Singapore, is headed by Yiannis Sykas…
U.S. President Donald Trump on Tuesday said trade talks with China had not collapsed, characterizing the trade war between the world's two largest economies as 'a little squabble.'He made the remarks to reporters at the White House as Beijing…
China's decision to hike import duties on U.S. liquefied natural gas (LNG) is a move that means very little for the market in the short term, but it has the potential to deliver outsized consequences the longer the levies remain in place.As part of its latest round of retaliatory tariffs on U…
German terminal operator Hamburger Hafen und Logistik AG (HHLA) revenue increases by 10.3 % in the first quarter of 2019, despite a challenging market environment, said the company.Container throughput increased slightly, partly due to the successful…
Hapag-Lloyd is optimistic about the year ahead, despite global trade tensions, the German container shipping company's chief executive said on Thursday after a first quarter earnings rise.'Despite all the uncertainty, we see a somewhat stable development…
The Wilhelmsen group recorded a $29 million net profit after non-controlling interests for the first quarter of 2019. Increased share of profits from associates and net financial gains more than offset a reduction in adjusted EBITDA when compared with the previous quarter…
Mjølner Shipping Holdings LLC and MID-SHIP Capital LLC has announced the expansion of their joint venture with the launch of their second fund, Mjølner Product Solutions LLC.Mjølner Shipping Holdings LLC (“Mjølner”) and MID-SHIP Capital LLC…
International dry bulk shipping company Clipper Group has launched a comprehensive restructuring involving a large number of layoffs, especially at the company's Copenhagen headquarters.The dry bulk carrier announced a series of initiatives…
After two months of steady increases in long-term contracted rates for containership operators, the latest XSI Public Indices report from Xeneta shows a reversal of fortunes, with rates falling by 4.2%.According to the report’s crowd-sourced data - covering over 160…
Kirby Corporation announced net earnings attributable to Kirby for the first quarter ended March 31, 2019 of $44.3 million, or $0.74 per share, compared with earnings of $32.5 million, or $0.54 per share, for the 2018 first quarter. Excluding certain one-time charges…
The latest round of China-U.S. trade talks began in Beijing on Wednesday, as both countries look to end their bitter trade war.Chinese Vice Premier Liu He greeted U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer as they arrived at a state guest house in Beijing…
Gasoil traders expect the middle distillates market to stay well supplied until almost the end of 2019 before swinging into deficit with the introduction of new maritime fuel regulations.Calendar spreads for low-sulphur gasoil delivered to Europe's…
Navios Maritime Containers announced that it took delivery of a 2011-built 10,000 TEU containership on April 23, 2019. As previously announced, the containership was acquired from an unrelated party for a purchase price of $52.5 million.The vessel is chartered out at a net rate of (i) $26…
