By Peter R. Orszag (Bloomberg Opinion) — At the top of my most interesting reads this year was Marc Levinson’s “The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger,” the second edition of which was published in 2016. The book tells the story of container...
By Aditya Kalra NEW DELHI, Dec 17 (Reuters) – Dubai’s DP World has approached an Indian court to quash an antitrust investigation recently ordered into its alleged anti-competitive behaviour at the country’s largest container port in Mumbai, a legal document reviewed by Reuters showed. The...
ATHENS, GREECE, December 17, 2018 – Diana Containerships Inc. (NASDAQ: DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, announced today that its Board of Directors (the “Board”) has scheduled the Company’s Annual Meeting of Shareholders (the “Meeting”) for February 19, 2019.
The Board has set a record date for the Meeting of December 28, 2018. Since the Meeting will occur more than 30 days prior to the anniversary of the Company’s prior...
Cargo volume at the Port of Long Beach continued to rise in November, setting the stage for a second consecutive calendar year record. The Port handled 621,835 twenty-foot equivalent units (TEUs) of container cargo during the month, a 1.5 percent increase compared to November 2017. Last month’s...
By Mike Wackett (The Loadstar) – Maersk has had its credit rating cut by ratings agency Moody’s to one grade above junk, with the agency concerned about a “significant downside” for the container industry. Moody’s said on Friday it was downgrading Maersk from Baa2 to Baa3, which is at the bottom of...
By Jonathan Saul LONDON, Dec 7 (Reuters) – China’s largest shipping group, COSCO Shipping, is considering raising capital for the first time on the London Stock Exchange through a new initiative with Shanghai’s bourse, two finance sources familiar with the matter said. The Shanghai-London Stock...
Lane Atmore shares her experience of sailing on Timbercoast, a sustainable shipping company
It’s dark. The waves are building beneath me and the ship is pitching back and forth. It’s raining. I continue out along the bowsprit, my rubber boots slipping on the wet tight-ropes slung between the bowsprit and the hull of the ship. The two of us have short lengths of rope tucked into our harnesses so we can tie down the sails in front of us. The sails that are massive, trailing wire and blocks, and...
ATHENS, GREECE, November 23, 2018 – Diana Containerships Inc. (NASDAQ: DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, today reported a net loss of $6.3 million for the third quarter of 2018, compared to a net loss of $8.7 million for the same period of 2017. The loss for the third quarter of 2018 mainly includes $4.8 million of impairment charges for one vessel.
Time charter revenues were $5.2 million for the third quarter of 2018, compared...
Global container shipping clients are complaining that outsourcing services to low-wage countries such as India has led to a sharpdrop in quality of services, says a fresh international transport report.
However, shipping experts from India maintain that what global clients claim as a ‘drop in quality of services’ is a fall in the number of claims processed for the latter, which, the experts claim, is better for the global shipping firms as their payout on this account has dipped.
Liner shipping...
http://container-news.com/container-firms-poor-services-india/
By Sam Whelan, Asia correspondent (The Loadstar) – The IMO’s 0.5% sulphur cap, to be imposed in January 2020, could be a “blessing in disguise” for shipping lines, should the regulatory fallout finally end the industry’s elusive search for supply and demand balance. However, any benefits will not...