Finance News

 

Hapag-Lloyd Secures 'Green Financing' for LNG-powered Newbuilds

Feb 09, 2021

German shipping company Hapag-Lloyd has joined the shift to green financing, securing funds for six liquefied natural gas (LNG) powered, 23,500 TEU containerships it ordered in December 2020.The firm said it concluded two transactions according…

Euronav Posts 4Q Loss. Expects Pressure on Freight Rates to Continue in 2021

Feb 04, 2021

Belgium's Euronav expects pressure on freight rates to continue until late 2021, the tanker operator said as it reported weaker than expected quarterly results on Thursday, citing OPEC+ export cuts because of the COVID-19 pandemic's impact on demand for oil…

Asian Market, Fuel Prices Drive Freight Rates in Valenciaport

Jan 15, 2021

The Valencia Containerized Freight Index (VCFI) of December experienced a growth of 4.19% with respect to the previous month, confirming the trend of the last five months of the year of increased freight rates. The high demand for traffic with…

Carnival Cruise Line Names Campbell CFO

Jan 13, 2021

Carnival Cruise Line said it has named Darrell Campbell as chief financial officer. He joins the U.S.-based cruise operator from parent company Carnival Corporation where he has served as corporate treasurer since 2017.Prior to his role at Carnival Corp…

Mercuria Teams Up with Envysion for Project Investment

Jan 07, 2021

Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management have agreed to co-invest in mining and energy projects, as default-hit banks tighten their purse strings and leave commodities firms seeking other funding.The deal…

Suez Canal Annual Revenues Fell 3% in 2020

Jan 04, 2021

Egypt’s revenues from the Suez Canal in 2020 declined 3% to $5.61 billion compared to 2019, the canal authority said in a statement on Sunday.Transit fees for all types of ships would remain unchanged in 2021 and would include reductions and incentives offered in 2020…

Sherrard Enhances Squire Patton Boggs Commodities and Shipping Capabilities

Jan 04, 2021

Squire Patton Boggs continued the expansion of its commodities and shipping capabilities with the addition of partner Kate Sherrard into its Financial Services Practice. She joins the firm from Clifford Chance where she was Head of the Asia…

Centerline Logistics Acquires Saltchuk Marine Services’ California Ship Refueling Ops

Dec 28, 2020

Centerline Logistics acquired Saltchuk Marine Services’ California ship refueling business, currently operated by subsidiary Foss Maritime Company. According to a press release from Centerline, this 'major acquisition' brings together the combined…

Investor EnTrust Global Turns Sights to Green Shipping Assets

Dec 17, 2020

U.S. investment company EnTrust Global, already a player in shipping finance, aims to buy ships that generate lower emissions, an executive said, the latest sign of efforts in the shipping industry to go green.Global shipping accounts for nearly 3% of the world’s CO2 emissions…

Ship Finance Lenders Fall Short of Sector's Carbon Targets

Dec 15, 2020

Many of the world’s biggest lenders to shipping companies fell short of carbon-cutting targets last year in the first analysis of CO2 goals for the sector by financiers, a report showed on Wednesday.Global shipping accounts for nearly 3% of…

Baltic Exchange Launches New Service for Ship Investors

Dec 15, 2020

Publisher of maritime market benchmarks, the Baltic Exchange, has launched a new service for shipping investors which provides a snapshot five-year view of the financial prospects of dry bulk carriers.The Baltic Exchange Investor Indices are…

Shanghai Commodity Exchanges Extend Waiver on Delivery Fees

Dec 11, 2020

China's Shanghai Futures Exchange (ShFE) said on Friday it would extend a waiver on delivery fees for all commodities traded on the exchange and the subsidiary Shanghai International Energy Exchange (INE) by one year, to Jan. 10, 2022.The ShFE and INE had in March waived the fees until Jan…

Baltic Exchange Launches Service for Ship Investors

Dec 10, 2020

The Baltic Exchange launched a new service for shipping investors, designed to provide a five-year snapshot view of the financial prospects of dry bulk carriers.The Baltic Exchange Investor Indices are designed to be an easy-to-use online dashboard…

Baltic Index Dips as Capesizes Slide to Near 6-month Low

Dec 08, 2020

The Baltic Exchange's main sea freight index fell on Tuesday, as concerns over trade frictions between Australia and China on coal shipments sent capesize rates to a near six-month low.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels…

SEACOR to Go Private in $1 Billion Deal

Dec 07, 2020

Florida-based transportation and logistics firm SEACOR Holdings Inc announced Monday it has entered into a deal with private equity firm American Industrial Partners (AIP) to take the company private in an all-cash transaction valuing it at about $1 billion…

Logistics News

Banga Takes Hong Kong Shipowners Association Helm

Banga Takes Hong Kong Shipowners Association Helm

OPEC+ Prepares for 2024 Demand Uncertainty

OPEC+ Prepares for 2024 Demand Uncertainty

Biometric Facial Recognition Implemented in Antwerp-Bruges

Biometric Facial Recognition Implemented in Antwerp-Bruges

FEPORT, ETA, EMPA and ECASBA Raise Cargo Diversion Concerns

FEPORT, ETA, EMPA and ECASBA Raise Cargo Diversion Concerns

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