Finance News


CMA CGM Sees Strong Final Quarter on Shipping Recovery

Nov 20, 2020

Container shipping group CMA CGM said on Friday shipping activity remained strong in the final quarter of 2020 after a rebound from initial coronavirus-related disruption boosted the French company's third-quarter profits.CMA CGM, the world's fourth-largest container shipping line…

Suez Canal October Revenue Rises Month-on-month

Nov 19, 2020

Egypt’s Suez Canal revenue rose to $490.2 million in October from $470.7 million in September, the cabinet said on Thursday.The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government’s main sources of foreign currency…

Maersk Raises Full-year Earnings Guidance

Nov 17, 2020

Shipping group Maersk has raised its full-year earnings forecast, it said on Tuesday, citing increased momentum in fourth-quarter in global container volumes and freight rates.The company now expects earnings before interest, tax, depreciation…

Hapag-Lloyd Expects Higher Earnings for 2020

Nov 13, 2020

German container liner Hapag-Lloyd AG is confident of achieving higher earnings in 2020 as lower fuel prices cut shipping costs, demand in Asia recovers and fleet capacity is tight, chief executive Rolf Habben Jansen said on Friday.'Oil prices have fallen sharply in the coronavirus crisis…

BIMCO: "Soya bean bonanza," U.S. Exports Strongest in History

Oct 27, 2020

Following years of disruption to US soya bean exports due to the US-China trade war, the first seven weeks of the 2020/2021 marketing year, which runs from 1 September to 31 August, have seen the strongest exports ever. By October 15, 11.4 million tons of soya beans had been exported by the US…

Greece Gets Five Initial Bids for Kavala Port Terminal

Oct 23, 2020

Greece has received five non-binding bids to operate part of a port in northern city of Kavala, the country's privatization agency (HRADF) said on Friday.HRADF received expressions of interest for a sub-concession to operate a multipurpose terminal of Philippos II port…

Martijn van den Berg joins Zuyderzee Capital

Oct 08, 2020

Zuyderzee Capital, the specialized investment and advisory services company focused on maritime and logistics, announced a new strategic initiative intended to broaden the overall consulting service offering to its client base: Operational & Administrative Advisory…

Sovcomflot IPO Expected to Price at Low End of Range

Oct 06, 2020

Russian shipping company Sovcomflot is guiding investors to expect its initial public offering (IPO) to price at the low end of the marketing range, two bookrunners organizing the transaction said on Tuesday.The first big stock market float…

IUMI: Marine Cargo Insurance "Improving"

Sep 21, 2020

Sean Dalton, Chair of IUMI’s Cargo Committee reports the majority of marine cargo markets geographically can best be described as “hard” or “improving” amid significant change driven by unprecedented disruption to the global economy and world trade due to the COVID-19 pandemic…

Seatankers Hires Investment Chief, Invites Outside Capital

Sep 03, 2020

Seatankers, the powerful holding company of Norwegian-born billionaire John Fredriksen, said on Thursday it had hired a veteran fund manager to broaden the group’s portfolio and bring in outside capital in a new unit.Vegard Soeraunet, until…

Frontline's Earnings Surge on Demand for Oil Storage

Aug 27, 2020

Oil tanker group Frontline reported a big jump in second-quarter earnings on Thursday as energy traders paid to store crude that went unsold amid the COVID-19 pandemic, the company said on Thursday.Frontline's April-June adjusted net profit rose to $206…

Zim Exploring IPO on Foreign Exchange

Aug 24, 2020

Israeli shipping company Zim is considering an initial public offering on a foreign exchange, Israeli news website Globes reported on Monday.A Zim spokesman said the company was not commenting.Two options being examined are to hold the offering in London or New York…

Ocean Tankers Seeks to Reclaim $19 Mln from Lim Family

Aug 17, 2020

The court-appointed manager of Singapore Ocean Tankers (Pte.) Ltd is seeking to reclaim about $19 million from the Lim family directors of the firm, who allegedly transferred the funds from the shipping company to their accounts in April, court documents show…

Trafigura Offers COVID-19 Premium

Jul 31, 2020

Commodities trader Trafigura Beheer has become the first company to offer a defined Covid premium on an Asian syndicated loan, paying up to an extra 20bp all-in on its latest US$1bn-equivalent financing.The novel pricing structure is a first for Asia…

Hapag-Lloyd Ups Profits, But Warns of Risks

Jul 15, 2020

German container shipping line Hapag-Lloyd on Wednesday reported preliminary results for the first half of 2020 showing core profits above those of the same 2019 period and upholding its guidance for full year earnings.However, the company said…

Logistics News

AD Ports Group and Vietnam Maritime Administration Sign MoU

AD Ports Group and Vietnam Maritime Administration Sign MoU

Banga Takes Hong Kong Shipowners Association Helm

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Biometric Facial Recognition Implemented in Antwerp-Bruges

Biometric Facial Recognition Implemented in Antwerp-Bruges

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