With tonnage oversupply in the tanker market already on the cards, ship owners are increasing looking towards demand in order to find some silver linings.
Global bunker supplier Aegean Marine Petroleum Network’s new leadership team is pursuing four main strategic initiatives — rationalizing the company’s global platform for asset optimization, executing cost saving initiatives, capitalizing on key business development projects, and generating new revenue streams — to grow the business amid challenging market conditions, the company said during its second-quarter earnings call.
The rebound of the dry bulk market could be in sight, despite looming signs that its momentum is about to slow down moving on to the final weeks of the third quarter and onto the fourth quarter of the year.
As part of an agreement between the European Union and the International Organization for Migration (IOM), Damen Shipyards Group has delivered two SAR 1906 vessels to the Turkish Coast Guard. The two vessels – the first to be delivered in what is a six-vessel contract – will be mobilised in refugee and migrant rescue operations.
Major players from global ship owning, shipmanagement and associated service industries such as satellite communications and maritime clusters are among the confirmed speakers at the Fourth International Shipowning and Shipmanagement Summit (ISSS), to be held during London International Shipping Week 2017.
Global container terminal operator DP World reported 8.2% volume growth in the first half of the year with the help of gains from new shipping alliances.
Shipbrokers left and right are reporting a flurry of activity in the S&P dry bulk segment over the past week. In its latest weekly report, Allied Shipbroking said that “on the dry bulk side, there was an explosion of activity this past week, with a large number of vessels changing hands.
Despite a recovery in cargo shipping markets, ship manning costs will remain suppressed as shipowners and operators continue to be financially challenged and the officer shortfall recedes, according to the latest Manning report published by global shipping consultancy Drewry.
The one industry that is increasingly at risk from cyber attack is the shipping industry. A gap in upgrading their infrastructure is leaving them vulnerable.
One of the world’s largest container vessels – and the biggest ever to visit Malta – has called at the Freeport on its maiden voyage.