business

MSC Aggressively Adding Boxships To Its Fleet

  • MSC has snapped up 2000-built 1,730 teu feeder boxship Amanda D.
  • The vessel has been renamed MSC Panaya, and like many of MSC’s recent purchases it was previously on charter to the line.
  • MSC has acquired the 2006-built 5,642 teu boxship Granville Bridge from Japan’s Doun Kisen.
  • The vessel is a sister ship of the Grenville Bridge, recently reported as sold by the Japanese company to MSC for $14m.

Swiss-headquartered containerline Mediterranean Shipping Company (MSC) continues to aggressively...

https://mfame.guru/msc-aggressively-adding-boxships-to-its-fleet/

Singapore spinoff Hyzon Motors makes US fuel cell trucking play

In the early 2000s, General Motors envisioned hundreds of thousands of fuel cell-powered vehicles on the road by 2010. Its research and development facility in the village of Honeoye Falls, New York, would be the nerve center of the ambitious plan. 

It never happened. Instead, GM produced a few prototypes and 120 retrofitted Chevrolet Equinox SUVs used for two-week loans to consumers and businesses to acquaint them with driving on hydrogen power.

GM shut down the facility near Rochester in 2012....

https://s29755.pcdn.co/news/singapore-spinoff-hyzon-motors-makes-us-fuel-cell-trucking-play

ABB Seals A $150m Deal To Power Next-generation Cruise Ships

  • Marine propulsion and engineering specialist ABB has secured an order of around $150m to deliver a comprehensive scope of technologies.
  • The order is to power next-generation cruise ships being built by Italian shipbuilder Fincantieri.
  • Strengthening its preferred supplier position in the cruise segment, ABB will equip five newbuild vessels with Azipod electric propulsion.
  • Each cruise ship will be powered by twin Azipod units, bringing the total ordered propulsion power for the five newbuilds to...

https://mfame.guru/abb-seals-a-150m-deal-to-power-next-generation-cruise-ships/

Maersk Marine Fuel Consumption Down by 6.5%

  • Shipping and logistics giant Maersk, the largest consumer of bunker fuel in the world, saw a 6.5% drop in its marine fuel consumption in the third quarter.
  • The company consumed a total of 2.621 million mt of bunkers in the third quarter.
  • It is down from the 2.803 million mt total for the same quarter of 2019 but up from the 2.333 million mt reported for the second quarter of this year.

According to a Ship and Bunker news report, the bunker fuel consumption by Maersk is down by 6.5% in the...

https://mfame.guru/maersk-marine-fuel-consumption-down-by-6-5/

Minerva Bunkering Launches Advanced Delivery Platform

  • ADP leverages metering and communications technology to bring unparalleled transparency and efficiency to bunker deliveries.
  • First “proof-of-concept” delivery successfully conducted in Singapore with Hafnia.
  • Service to launch in ARA, Fujairah, and Singapore in early 2021.

According to an article published in Minerva ‘Minerva Bunkering introduces the Advanced Delivery Platform (ADP)’.

Minerva Bunkering and Hafnia

Minerva Bunkering and Hafnia completed the first ever bunker delivery conducted...

https://mfame.guru/minerva-bunkering-launches-advanced-delivery-platform/

Gasum Expands LNG Bunker Supply Operation

Gas supplier Gasum has expanded its LNG bunker supply operation from the Nordics to Northwest Europe, reports Ship&Bunker.

The contract 

Gasum has signed a deal with Norwegian energy company Equinor to supply LNG bunkers to them in the Amsterdam, Rotterdam and Antwerp (ARA) area, the firm said in a statement on its website.

The company will mainly use its barges, the Coralius and the Kairos for the ARA bunker supply.

Working with Equinor

“Gasum and Equinor have been co-operating on various projects...

https://mfame.guru/gasum-expands-lng-bunker-supply-operation/

TCI Fund Management seeks climate action from CP and CN

TCI Chris Hohn seeks climate action from CN and CP.

CN (NYSE: CNI) and Canadian Pacific (NYSE: CP) shareholder TCI Fund Management Ltd, has asked both railways to lay out climate action plans at their annual general meetings in 2021. 

TCI has a 2.93% stake in CN and is CP’s largest shareholder with an 8.31% stake.

TCI has an extensive environmental, social and governance (ESG) investment policy regarding climate change. In the proposal sent last week, Christopher Hohn, TCI founder and portfolio manager, asked that the railways establish climate...

https://s29755.pcdn.co/news/tci-fund-management-seeks-climate-action-from-cp-and-cn

In reversal, General Motors withdraws support for Trump emissions rollbacks

General Motors (NYSE: GM) will no longer support President Donald Trump’s battle to roll back California’s fuel economy rules designed to slow global warming, CEO Mary Barra wrote in a letter on Monday.

In the correspondence, delivered to leaders of environmental groups, Barra sided with  President-elect Joe Biden, who has expressed strong support for vehicle electrification.

“President-elect Biden recently said, ‘I believe that we can own the 21st century car market again by moving to electric...

https://www.freightwaves.com/news/in-reversal-general-motors-withdraws-support-for-trump-emissions-rollbacks

More detailed PPP data remains under wraps for now

Last Thursday was the day the Small Business Administration (SBA) was ordered by a court to release detailed data on all of its money disbursed under the Paycheck Protection Program (PPP), right down to the smallest one. But the huge amount of data that would disclose information on many companies in the trucking sector remains under wraps.

The SBA received what is known as a minute order that allowed the agency to avoid disclosing the massive amount of information on granular data regarding the...

https://s29755.pcdn.co/news/more-detailed-ppp-data-remains-under-wraps-for-now

Maersk Delivers Strong Q3 Business Profit Despite Pandemic Crisis

  • Maersk has delivered a respectable Q3 results with improved profitability despite the Covid-19 pandemic having a negative impact on the global economy.
  • The shipping group reported a Q3 revenue of $9.9bn, down 1.4% year-on-year, and EBITDA up 39% to $2.3bn.
  • The main performance driver for the quarter was the container shipping business under the Ocean sector.
  • This was attributed to continued agile capacity deployment, lower costs and a temporary spike in short term freight rates due to a sudden...

https://mfame.guru/maersk-delivers-strong-q3-business-profit-despite-pandemic-crisis/

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