Shipping

  • SAL and jumbo announce JV to consolidate heavy...

    Two of the leading operators in the heavy lift and project cargo business are proposing to form a joint venture to enhance operating efficiencies as they seek to realize the emerging opportunities in the sector. SAL, the German-based breakbulk and project cargo specialist, and Jumbo Marine, the Dutch maritime heavy lift transport and installation contractor, intend to form a joint venture.

     

  • Russian Arctic tanker arrives in France for...

    One of the Russian ice-class Arctic LNG carriers that recently ran the winter test run on the Northsea Route arrived at a shipyard in France for repairs sustained to its propulsion system. French media is reporting that the ship will spend 20 days in drydock.

     

  • Havila Shipping ASA: Fourth quarter 2020 accounts...

    The sharp fall in oil prices and the outbreak of the Covid-19 virus in the first quarter reduced the activity in the market in where the vessel operates. Despite an increase in oil prices, there is still low demand for vessels. The market situation has led to a further impairment charge of the value of the company’s vessels in the fourth quarter.

     

  • U.S. Navy’s 5th fleet has two potential outbreaks...

    A year into the pandemic, the U.S. Navy reports that its 5th Fleet is responding to outbreaks of the virus on two vessels both operating in the Persian Gulf region. The Navy is following the protocols developed last year after the first outbreaks of the virus aboard its ships that drew worldwide attention.

     

  • Third Golden Ray hull cut resumes as five-week...

    After completing repairs to their cutting gear, salvors have resumed the process of separating the third segment of the wrecked ro/ro Golden Ray for removal and scrapping. The third cut passes through the vessel's engine room and is proving to be much more time-consuming than the previous two, with delays due to a connecting link breakage and wire rope replacement. The evolution is now entering its 32nd day. 

     

  • Belships: Quarter led by Lighthouse Navigation;...

    While the main operating segment of Dry Cargo Ships provided results in line with our expectations, overall figures were boosted by a very volatile Lighthouse Navigation segment, which showed the highest EBITDA since acquisition. The shipping market has turned very bullish over the last two months and the outlook improved for both the 2021 and, seeing historically low supply level, the longer term. Thus, we are likely to keep our positive stance towards the stock.

     

  • Dole to take delivery of two reefer ships with...

    Even with the challenges of the COVID-19 era, ANDRITZ has succeeded in delivering a scrubber right on time to Chengxi Shipyard for the Dole Food Company. The multi-inlet hybrid scrubber was the largest ever installed at Chengxi Shipyard, with an outer diameter of 4.1 meters and an overall footprint of around 7.1 x 4.1 meters. It was installed aboard the MV Dole Maya, a reefer container ship flagged in the Bahamas.

     

  • Record high container contract rates here to stay...

    With the demand for container shipping continuing to rise, long-term contract rates are climbing to unprecedented highs according to new data from ocean freight market intelligence firm Xeneta. They report that all key shipping corridors registered steep increases since the beginning of the year, driven by continuing surging demand, lack of equipment supply, and spot rates that remain at peak levels.

     

  • Maersk recovers after two boxships lose...

    Maersk reports that it is making progress on the recovery from its two vessels that both recently suffered significant container losses at sea. The first of the interrupted voyages has resumed after a lengthy operation to stabilize the load while the second vessel has reached a refuge port where the damage assessment and efforts to stabilize the cargo will begin.

     

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Sycamore completes purchase of Azamara and fourth cruise ship

Royal Caribbean Group has completed the sale of its Azamara cruise brand to Sycamore Partners, a private equity firm specializing in consumer, retail, and distribution investments. They had announced their plan to divest their smallest cruise line to focus on their larger Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands.

 
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Major cruise lines will resume summer trips in Caribbean, Asia and UK

The global cruise industry is increasingly taking the first steps to restore operations at key markets around the world. Five cruise lines announced summer programs, including the first large US-based brands, with cruises scheduled for the Caribbean, Malaysia, and the UK, as the industry looks to take advantage of the expanding vaccine programs and loosening restrictions travel restrictions.

 
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American coastal and river cruising is resuming

The American cruise industry has resumed operations one year after the global cruise industry went into shutdown due to the coronavirus. Two of the small ship operators, American Cruise Lines and American Queen Steamboat Company, quietly started their first cruises as the companies begin to carefully ramp up operations in anticipation of the summer cruise season.

 
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