business

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/

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/

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/

Maersk Shows Increased Operational Profitability in Third Quarter!

Maersk’s third quarter is characterised by improved profitability across the business. Earnings before interest, tax, depreciation and amortization (EBITDA) improved 14% to USD 1.7bn in the quarter, reflecting an increase in EBITDA margin to 16.5%, says an article published on its website.

  • Revenue decreased slightly by 0.9% to USD 10.1bn.
  • Operating cash flow increased by 25% to USD 1.7bn with a cash conversion ratio of 105% and free cash flow before capitalized lease payments was USD 1.5bn.
Stro...

http://mfame.guru/maersk-shows-increased-operational-profitability-in-third-quarter/

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/

Damen, Europoort Lay Keel for Unique Diving Bell Ship

Damen held the keel-laying ceremony for WSA KOBLENZ’S new diving bell ship, says an article published in their website.

Keel laying ceremony

The keel-laying ceremony has been held at Europoort Construction in Hendrik Ido Ambacht for the diving bell vessel ordered by Customer FMSW Koblenz from Damen in January this year. 

The operator is the Duisburg waterway and shipping authority WSA (Wasserstrassen- und Schifffahrtsamt). 

A virtually unique vessel

Following the fabrication of the hull, Damen will...

http://mfame.guru/damen-europoort-lay-keel-for-unique-diving-bell-ship/

Cruise Giant Set To Sail Its First Quantum Ultra-Class Ship

According to a Ship Technology report, Royal Caribbean International’s first Quantum Ultra-Class ship Odyssey of the Seas is set to debut in Florida, US, next year.

Odyssey of the Seas 

Royal Caribbean’s Odyssey of the Seas is being built at Meyer Werft shipyard in Papenburg, Germany. The first steel was cut this February. 

Weighing more than 168,000 gross tonnes, the vessel can accommodate over 4,200 passengers.

Cruise features
  • This is the cruise line’s 27th ship that will arrive at the Fort...

http://mfame.guru/cruise-giant-set-to-sail-its-first-quantum-ultra-class-ship/

APM 2020: Insights on Maritime Solutions for a Better Tomorrow

The digital evolution is shaping the maritime future in multiple aspects, both onshore and offshore, and shipping organisations are facing pressure to operate more efficiently and profitably while catering to the increasingly sophisticated customer demands, reports a news release by Asia Pacific Maritime.

As with any change, digitalisation was initially met with scepticism. But this has given way to a building digital momentum, in view of the many strategic business benefits to be reaped – from...

http://mfame.guru/apm-2020-insights-on-maritime-solutions-for-a-better-tomorrow/

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