Finance

  • Marine Money celebrates its 30th anniversary

    Experts disclose the current maritime finance challenges

    Ship owners, operators, traders, financers, investors and maritime experts join together to discuss the positive signs of the maritime industry on the Middle East by addressing the financial opportunities in the market throughout the current political situation that is taking place worldwide

  • Ship Finance International Limited’s (SFL) stock...

    Ship Finance International Limited (SFL), a part of Services sector and belongs to Shipping industry; ended its day with loss -2.73% and finalized at the price of $14.25. During its last trading session, Stock traded with the total exchanged volume of 0.86 million shares. The average volume stands around 0.83 million shares. The average numbers of shares are traded in a security per day, during the recent 3-month period. The stock has relative volume of 1.04. Relative volume is ratio between current volume and 3-month average value, intraday adjusted.

  • Bank Gives Rickmers Maritime Deadline for Revised...

    German HSH Nordbank has provided Singapore’s containership owner and operator Rickmers Maritime with a deadline- April 15, 2017 – to present a concept that ensures a “higher level of total recoveries” than under a winding-up scenario of the firm. 

  • RCL steps up port investment, this time in Penang

    Penang Port will collaborate with Royal Caribbean Cruises (RCL) in a joint venture to upgrade and improve Swettenham Pier Cruise Terminal in Georgetown, Penang, to accommodate berthing of larger cruise ships at its facilities. The 60/40 joint venture will be jointly managed by both parties, with the majority stake held by Penang Port.

  • More than 30 dry bulk carriers are being sold...

    With the Baltic Dry Index (BDI) rebounding firmly and expectations abound that this is only the start of a new sustained recovery phase for the dry bulk market, ship owners are stocking up on new bulker acquisitions, in order to capitalize on the market’s rebound. 

  • Qatar's Milaha eyes investment in new markets

    Milaha has put in place a multi-year strategy focusing on investment in new markets, especially South East Asian, and expansion such as foraying into truck trading to achieve medium and long-term growth, according to its top official.
     

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World’s Biggest Container Line Scales Down Bond-Market Reliance

The world’s biggest container shipping company and Denmark’s largest issuer of corporate bonds may rely less on debt markets in the near future.

A.P. Moller-Maersk A/S has ample liquidity and plans to cut capital expenditure, both of which reduce the need for new bond sales, according to Chief Financial Officer Jakob Stausholm. He also pointed to the century-old conglomerate’s plans to sell its energy business as a complication that makes now an awkward time to tap debt markets.

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CRUDE OIL PRICES (MAY 13)

Crude oil prices were slightly up on Saturday (May 13) compared to the previous close.

The price of Brent oil was at $50.86 up from $50.77, and U.S. WTI crude was at $47.88 from $47.83.

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London: the world’s most resilient maritime centre?

Singapore has retained its title as the world’s top maritime centre in Menon Economics’ Leading Maritime Capitals of the World report for 2017.

Much of the press coverage has focused on this fact, largely overlooking the fact that London has risen from sixth place overall in 2015 to fifth place this year – despite the uncertainty of Brexit. It’s fair to say that none of the other maritime cities in the top five – Singapore, Hamburg, Oslo and Shanghai – have had to deal with such a massive economic spanner being thrown in their works. And still London has strengthened its global standing.

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Cosco reported net profit of 37.7 million USD in Q1 2017

The largest Asian container line China Cosco Holdings reported net profit of 260 million CNY (37.7 million USD) for the first quarter of 2017, against a loss of 4.4 billion CNY during the same period last year. The company explained the improvement in the finance statement with the 54% increase in volumes to 4.65 million TEU, as a result of the merger with China Shipping Group and synergies after it, as well as recovery in the container shipping market. The finance report of China Cosco Holdings indicates that the average rate of China Containerized Freight Index (CCFI) for the first quarter was 825.3 points, which is 11.7% more than the same period last year, supporting the revenues of the company.

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Lack of containers and delaying export in Europe after entering in force of shipping alliances

The restructuring of East-West route after establishing of container shipping alliances became more aggressive than earlier expected and many shippers suffered from lack of container units for their export. Mostly were affected the European ports in Black Sea, North Sea and Baltic Sea, as well as inland ports, which have much lower quantities of free units from the feeders, due to low inbound laden containers. There is a big congestion in the ports of Istanbul, Hamburg and Rotterdam, which additionally weight on the shipping flows. In many cases even the most expensive lines are overbooked and cannot provide free units for the shipping, which seriously affect the export and trade of Europe to Asia and Africa. Now many of the lines are overbooked for 1-2 months ahead and delays caused chaos on the trade lines.

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