business

781 Billion Won Deal To Build LNG Fired Container Carriers

Samsung Heavy Industries said Monday that it has signed a 781 billion won ($707 million) deal to build five liquefied natural gas (LNG)-fired container carriers, says an article published in Korea Herald.

Emailed Statement

Under the deal with an Asian company, the 15,000-foot equivalent unit (TEU) container carriers will be delivered by July 2023, Samsung Heavy Industries said in an emailed statement.

The shipbuilder did not reveal the name of the buyer.

“This year is expected to see a rise in new...

https://mfame.guru/781-billion-won-deal-to-build-lng-fired-container-carriers/

Castor Maritime Inc Announces Its Time Charter Contract

Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping company, announces that it has entered, through two separate wholly-owned subsidiaries, into agreements to purchase two 2005 Korean-built Aframax LR2 tankers from an unaffiliated third-party seller for an aggregate purchase price of $27.2 million, says a press release published by it.

The Time Charter

Both vessels have attached time charter contracts with a reputable charterer (the “Charterer”) with an...

https://mfame.guru/castor-maritime-inc-announces-time-charters/

Eneti Sells 5 Ultramaxes for US $88m

Eneti (formerly Scorpio Bulkers) has sold five of its dry cargo vessels for approximately US$88 million, says an article published in Baird Maritime.

About the sale

The objects of the transactions are the Ultramax vessels SBI Thalia (pictured), SBI Athena, SBI Perseus, SBI Pisces, and SBI Hercules. All five vessels were built in China between 2015 and 2016.

Delivery to the new owner is expected to take place in the second quarter of 2021.

Did you subscribe to our daily newsletter?

It’s Free! Click...

https://mfame.guru/eneti-sells-5-ultramaxes-for-us-88m/

Eagle Bulk Acquires Supramax Trio Worth $21m

Eagle Bulk Shipping Inc. has purchased three 2011-built CROWN-58 Supramax bulk carriers for a total of USD 21.15 million and 329,583 common shares of Eagle, reads the company press release.

Supramax trio acquisition

The ships, which will be renamed the M/V Montauk Eagle, M/V Newport Eagle, and M/V Sankaty Eagle, were all constructed at Yangzhou Dayang Shipbuilding Co., Ltd and are sister ships to 17 CROWN-58 Supramax bulk carriers in Eagle’s existing fleet.

The vessels are all expected to be...

https://mfame.guru/eagle-bulk-acquires-supramax-trio-worth-21m/

Can retailer prudence derail the inventory restocking thesis?

This is an excerpt from Thursday’s (2/11) Point of Sale retail supply chain newsletter sponsored by ArcBest.

The retail inventory restocking thesis has been touted by nearly every industry analyst (us included) as a promising growth driver for freight given the continued strength in consumer demand (thank you, stimmy) and historically low inventory-to-sales ratios. While this holds true for the majority of segments, especially the pandemic favs (furniture, home improvement, electronics),...

https://s29755.pcdn.co/news/can-retailer-prudence-derail-the-inventory-restocking-thesis

Dalian Shipbuilding Delivers 3rd Suezmax Tanker

  • Yuan Bei Hai is the third Suezmax tanker in the Yuan series and joins Yuan Dong Hai and Yuan Nan Hai in the COSCO Shipping Energy Transport fleet.
  • Dalian Shipbuilding said that the construction period was shortened for this vessel.
  • The energy-saving effect was verified as better than the technical index required, which saved costs for the shipowner.

A recent news article published in the Riviera website reveals that Dalian Shipbuilding delivers third ‘Yuan’ Suezmax tanker to COSCO.

A new...

https://mfame.guru/dalian-shipbuilding-delivers-3rd-suezmax-tanker/

A.P. Moller – Maersk Makes Strong Transformational Progress in 2020

  • 2020 has been another year of solid progress for A.P. Moller – Maersk, both in terms of financial performance and in transforming the company.
  • Despite low volumes during most of 2020, profitability grew throughout the first nine months and ended the year with record Q4 results in Logistics and Terminals.
  • While Ocean delivered an exceptional quarter driven by the increased volumes and current, temporary supply chain disruptions.

A recent news article published in the Maersk reveals that A.P....

https://mfame.guru/a-p-moller-maersk-makes-strong-transformational-progress-in-2020/

2020 Profits Doubled For A.P. Møller – Mærsk

A record fourth quarter helped A.P. Møller – Mærsk double its 2020 profits with a significant chunk of the cash earned earmarked for acquisitions, says an article published in Splash247.

EBITDA

In the fourth quarter last year, EBITDA rose 85% to $2.71bn while full year EBITDA hit $8.3bn for the world’s largest container line.

In bullish mood, the company, often seen by investors as a bellwether for the container shipping industry – stated today that it anticipates 2021 to be better than last year...

https://mfame.guru/2020-profits-doubled-for-a-p-moller-maersk/

Apple Takes “Unorthodox & Costly Steps” To Avoid Shipping Delays

Apple has increased the usage of cargo ships & and private jets to minimize shipping delays amid pandemics, reports MacRumors.

Unorthodox and costly steps

According to reports, Apple has taken “unorthodox and costly steps” to avoid product shipping delays amid the pandemic, including the increased use of container ships, private jet charters, and more.

Shipping by sea 

The report claims that Apple began shipping some AirPods by sea for the first time last year.

Apple has occasionally faced some...

https://mfame.guru/apple-takes-unorthodox-costly-steps-to-avoid-shipping-delays/

Eats, Delivery pushing Uber toward profitability

Uber’s (NYSE: UBER) earnings results, announced on Wednesday, offer a mixed bag of news. On the Rides side, business continues to struggle to escape from the COVID-19 pandemic, but the remainder of the business is showing signs of strength. That led to CEO Dara Khosrowshahi declaring on CNBC Thursday morning that profitability is within sight, perhaps by the end of 2021.

KeyBanc and Cowen both raised their price targets for the company, with KeyBanc maintaining an overweight rating and raising...

https://www.freightwaves.com/news/eats-delivery-pushing-uber-toward-profitability

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.