Are trans-Pacific carriers guilty of price gouging?

container ship

Spot rates in the trans-Pacific ocean trade continue to reach epic new heights, leading to talk of price gouging.

“Container lines have done well during the global pandemic, but are they profiteering from the crisis?” asked U.K.-based consultancy Drewry.

“Perversely, lines look set to make more money than they have in a long time,” it continued. The practice of “blanking” (canceling) sailings “has paid off handsomely.”

“From a public-relations perspective, the optics of making big profits during a...

https://www.freightwaves.com/news/are-trans-pacific-carriers-guilty-of-price-gouging

Tanker takeover talk heats up

product tanker

Trading of Ardmore Shipping (NYSE: ASC) shares surged to over 10 times normal volume on May 26. Shares closed up 18%. Industry publication Tradewinds attributed the jump to takeover talk. A banking source speaking to FreightWaves agreed. He was getting a lot more client calls than usual about Ardmore over the prior week.

The mystery of that late-May rumor is solved — probably. Loose lips appear to have been whispering about Hafnia Tankers (Oslo: HAFNIA), which is 65% owned by the BW Group.

Hafnia...

https://www.freightwaves.com/news/tanker-takeover-talk-heats-up

Covid-19: Shipping requirements, restrictions, rules and policies at Australian ports

On this page you will find Federal and State Restrictions in regards to Covid-19. You will also find a link to policies from international bodies such as the International Maritime Organization.

Important: please read the Federal Restrictions first and then read whichever set of State or Territory Restrictions that you are interested in as if they were one set of rules. It is meaningless to read either the Federal or the State/Territory rules in isolation from the other. So, if you are...

https://shippingaustralia.com.au/covid-19-shipping-restrictions-and-requirements-for-australian-ports/

Project cargoes keep AAL’s ships calling US Gulf ports

Project cargoes may not be the fastest movers on the high seas, but they have proved much less volatile than the U.S. container trades during the coronavirus pandemic.

Christophe Grammare, commercial director, AAL Shipping (Photo: Courtesy)

Singapore-based AAL Shipping, one of the world’s largest marine project cargo carriers with 25 vessels, has witnessed a steady increase in ship sailings involving the transport of large capital equipment from Asia to U.S. ports during the first half of 2020....

https://s29755.pcdn.co/news/project-cargoes-keep-aals-ships-calling-us-gulf-ports

Crew crisis to trigger ship detentions and diversions

ship crew

Around 200,000 seafarers still can’t get home due to COVID-19 travel restrictions. Expired and extended crew contracts are piling up. Now, some port inspectors are beginning to balk and detain arriving vessels. 

“We are not just talking about a humanitarian crisis. This is turning into something that has a real impact on the global supply chain,” warned Belal Ahmed, chairman of the International Maritime Employers Council (IMEC), during a webinar presented by Capital Link on Wednesday.

More port...

https://s29755.pcdn.co/news/crew-crisis-to-trigger-ship-detentions-and-diversions

COVID19 Shows How Shipping’s Low Public Profile Affects Seafarers’ Repatriation

Governments prioritize on opening bars and getting stranded tourists home over solving the ongoing crew crisis, and that shows the nerve of trade at the moment, writes David Osler, Lloyd’s List Finance Editor, who specializes in White Collar Shipping Services.In an opinion piece published in Lloyd’s List, Osler writes that “for too many governments, reopening bars is a higher priority than sending stranded crews back home, and that is morally unacceptable”
Prosperous Tourists Are on Priority

The...

https://mfame.guru/covid19-shows-how-shippings-low-public-profile-is-affecting-seafarers-repatriation/

MPA Supported 50$m Investment for Singapore Maritime Startups

According to a Strait Times report, Enterprise Singapore (ESG) investment arm Seeds Capital, together with six appointed co-investment partners, will pump a combined $50 million into more than 50 maritime technology start-ups in Singapore.

MPA Supported Co-investment

The co-investment initiative is supported by the Maritime and Port Authority of Singapore. Seeds Capital and the appointed partners will invest in start-ups that develop solutions to improve operational efficiency and safety across...

https://mfame.guru/mpa-supported-50m-investment-for-singapore-maritime-startups/?amp;amp;

Seafarers still stranded at sea — and more test positive

tanker

Shipping groups and seafarer unions are desperately trying to convince governments to allow crew the right to transit after work contracts expire. Most governments still haven’t listened. An estimated 200,000 crew remain stranded at sea, unable to get back to their homes after their initial work contracts expired.

It will be even harder to convince governments to allow seafarers passage through their ports and airports if more shipboard outbreaks occur. And while still relatively rare, new...

https://s29755.pcdn.co/news/seafarers-still-stranded-at-sea-and-more-test-positive

Mumbai and Goa stage cruise ship crew transfers

Between 14th-20th June over 5,500 Indian crew were signed off from three cruise ships at Mumbai and Goa in operations supervised by the J.M. Baxi group. Celebrity Infinity and Anthem of the Seas arrived at the Mumbai anchorage, where Covid-19 testing for about 4,550 crew was carried over the course of approximately 36 hours. Subsequently crew members belonging to states other than Goa were disembarked, while those for Goa were transferred from Anthem of the Seas to Celebrity Infinity, as Anthem...

https://www.themaritimestandard.com/mumbai-and-goa-stage-cruise-ship-crew-transfers/

Large MSC vessels call into King Abdullah Port

Making their first voyage to Saudi Arabia, the large new generation container ships MSC Gulsun, MSC Mia and MSC Sixin recently docked at King Abdullah Port in the Red Sea in the same week in June. The maiden calls from the three vessels, which are amongst the world’s largest container ships, “were received and handled efficiently”, according to a port statement. The three vessels have a capacity of around 23,750 teu and a draft of 16.5 m. Each has been designed to meet strict environmental...

https://www.themaritimestandard.com/large-msc-vessels-call-into-king-abdullah-port/