business

Shipping Agents Need To Scale Down To Supply Local Market Information: Cartegana CEO

According to a loadstar article, ship agents will need to reinvent themselves as information providers to shipping lines, if they are to survive in a rapidly changing industry.

Danger of Extinction?

On the sidelines of last week’s TOC Americas Container Supply Chain event in Cartagena, Matthew Tayler chief executive of Chile-headquartered ship agency Empresas Taylor, told The Loadstar the ship agency business was in danger of extinction unless it radically overhauled itself.

“The traditional ship...

http://mfame.guru/shipping-agents-need-to-scale-down-to-supply-local-market-information-cartegana-ceo/

‘Active’ Deadman Alarm System Wins Club Award

UK P&I Club announced the winners of ‘Investing in a Safer Tomorrow’ competition and launched a New Club logo at event hosted at National Maritime Museum, says a press release published on their website. 

‘Investing in a Safer Tomorrow’ 

UK P&I Club, a leading provider of P&I insurance and other services to the international shipping community, conducted the ‘Investing in a Safer Tomorrow’ global maritime competition. It challenged entrants to develop innovative, industry-changing ideas with a...

http://mfame.guru/active-deadman-alarm-system-wins-club-award/

Rio Grande Express: Hapag-Lloyd’s New Transatlantic US-Flag Service

Hapag-Lloyd has added a sixth ship to its U.S.-flag Atlantic Loop 3 (AL3) service that calls on ports in North Europe and the U.S. East Coast and Gulf Coast, reports Freight waves.

The company said the additional ship “will improve the reliability of the AL3 service for our customers and support our strategy of being number one for quality.”

Rio Grande Express

The 4,248-TEU Rio Grande Express will join five other U.S.-flag ships that the German carrier operates – Charleston Express, Washington...

http://mfame.guru/rio-grande-express-hapag-lloyds-new-transatlantic-us-flag-service/

Quiting Maersk the Hardest Decision in Life, Says Søren Toft

According to a Loadstar article, the Maersk departure decision is the toughest decision in Søren Toft’s life.

The article highlights how it all began.

While checking the rocketing share price of AP Møller-Mærsk (APMM) – up 35% from the multi-year lows it hit on the day Q2 results were announced – on a Bloomberg page on Monday afternoon, by pure coincidence the (until Monday) chief operating officer and board member of APMM, Søren Toft, popped up in a nice old interview headed “Maersk expanding...

http://mfame.guru/quiting-maersk-the-hardest-decision-in-life-says-soren-toft/

Carbon Budgets of Shippers & Suppliers Shows Paris Agreement Compliance!

The Carbon Tracker Initiative launched a report according to which in order to “deflate” the carbon and protect investors, oil and gas companies have to shrink, meaning that they have to combine their production by more than a third by 2040 to limit emissions, in line with the international climate targets, says an article published in Safety4Sea.

Paris Agreement Verdict

Overall, the international climate targets aim to a zero-carbon shipping future and a more green and sustainable environment....

http://mfame.guru/carbon-budgets-of-shippers-suppliers-shows-paris-agreement-compliance/

MPC Capital Acquires 50% Stake in Tanker Specialist Albis Shipping

Hamburg-based MPC Capital has announced the acquisition of a 50% stake in tanker chartering specialist Albis Shipping & Transport, says an article published in IPE Real Assets website.

Strategic stake acquired

The real assets manager said it acquired the “strategic stake” in the tanker specialist for an undisclosed amount.

  • Hamburg-headquartered Albis, led by Kim Moeller, operates a commercial platform for tankers of various sizes. 
  • In addition to the tanker business, Albis is also active in the...

http://mfame.guru/mpc-capital-acquires-50-stake-in-tanker-specialist-albis-shipping/

Weekly Tanker Report – Week 46, 2019

The Baltic Briefing has issued the tanker report for the 46th week of this year. The report dated 15th November 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.

VLCC

With at least half of the VLCC market participants meeting in Dubai this week, fixture activity has been sporadic, with rates slipping slightly.

However, the market is reported to have bottomed and is now rebounding. This is evidenced by a couple of fixtures reported on...

http://mfame.guru/weekly-tanker-report-week-46-2019/

MSC Poaching Maersk’s Ex-COO Toft As CEO?

According to a Reuters report, shipping firm MSC has poached rival A.P. Moller-Mærsk’s former head of operations Soren Toft to become its new chief executive officer, Danish media ShippingWatch reported on Friday, citing unidentified sources.

  • Maersk said earlier this week Toft had decided to leave the company to pursue outside opportunities. He later told Danish media he had accepted a CEO role at an unidentified company.
  • The change of job will be officially announced next week, according to...

http://mfame.guru/msc-poachingh-maersks-ex-coo-toft-as-ceo/

Q3 Report: Maersk Benefits from Lower Fuel Prices

According to an article published in The Loadstar, the peak trade season has turned out to be a damp squib.

Upgradation to EBITDA guidance

Notwithstanding “slower global demand growth” and “lower freight rates” – indeed, the peak season turned out to be a damp squib, and container spot rates have collapsed since August – Maersk yesterday upgraded its EBITDA guidance for 2019 from $5bn to $5.4 – $5.8bn.

It attributes the better-than-expected full-year outlook to “strong reliability and capacity...

http://mfame.guru/q3-report-maersk-benefits-from-lower-fuel-prices/

Weekly Bulk Report – Week 46, 2019

The Baltic Briefing has released a report about the dry bulk market of the 46th week of shipping activities of this year. The report dated 15th November highlights the plight of the dry bulk market at the on-sight of the 46th week.

Capesize
  • For most of the week, the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 route were being fixed in the upper eight-dollar level for usual 170,000dwt vessel, 10% cargo.
  • FMG fixed a Newcastlemax for...

http://mfame.guru/weekly-bulk-report-week-46-2019/

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