BIMCO: Container Shipping May Face Bankruptcies if It Fails to Recover Extra Fuel Costs

Posted By Tony Sanchez / Cargo News / 0 Comments

February 19, 2019 A failure to recover the extra fuel costs in full may result in bankruptcies in the container shipping industry, international shipping association BIMCO said. As the starting line for the International Maritime Organization (IMO) sulphur cap approaches, the dominant theme of 2019 will be the sharing of the higher costs that are […]

GoodBulk to Make Its Capesize Ships BWMC Compliant

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 19, 2019 Dry bulk vessel owner and operator GoodBulk plans to equip eleven of its Capesize vessels with ballast water treatment systems (BWTS) in the coming period.  BWTS will be installed on three Capesize bulkers in 2019 and on eight ships in 2020 during their scheduled drydocks, the company said. The installation of the […]

Moody’s Upgrades Hapag-Lloyd Ratings, Outlook Stable

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 19, 2019 The corporate family rating (CFR) of German shipping major Hapag-Lloyd has been upgraded to B1 from B2, according to ratings agency Moody’s. Additionally, Moody’s upgraded the company’s probability of default rating (PDR) to B1-PD from B2-PD and its senior unsecured bond ratings to B3 from Caa1, with a stable outlook. “Our rating […]

As Amazon Air Expands, FedEx And UPS May Suffer

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February 18, 209 Source:( CNBC)

Nakilat Grows Profit in 2018

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February 18, 2019 Qatar-based shipping company Nakilat delivered a 5.3% increase in profit during the year ended December 31, 2019. The company’s profit reached QAR 892 million during the period, compared to QAR 847 million reported in 2017. Excluding the 2017 one-off item, the 2018 net profit increased by 14%, the company said. The key drivers of Nakilat’s […]

TEN Orders Tanker Duo against New Long-Term Charter Deals

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February 18, 2019 Greece-based Tsakos Energy Navigation has placed an order for two Suezmax crude oil tankers on the back of new long-term charter deals. Namely, the company said that the new vessels would, upon delivery, enter into minimum 5 maximum 12-year contracts to an undisclosed oil major. According to data provided by Asiasis, the […]

Panama Canal Authority Selects New Canal Administrator

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February 18, 2019 The Panama Canal Board of Directors has selected Mr. Ricaurte Vasquez as the next Panama Canal Administrator. Vasquez is scheduled to take office on September 4, 2019, succeeding the current Administrator Jorge L. Quijano, who concludes his seven-year term at the helm of the waterway. The decision was made by the Board […]

GasLog Ends 2018 with Record Earnings

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February 14, 2019 Greece-based owner and operator of LNG carriers GasLog wrapped up 2018 with record annual and quarterly results, driven by strong spot earnings from the company’s vessels.  The company’s profit increased to USD 126.4 million in 2018 from USD 84.2 million posted a year earlier. In addition, revenues rose to USD 618.3 million in […]

Abu Dhabi’s Etihad Airways restructures Airbus, Boeing jet orders

Posted By Tony Sanchez / Airlines / 0 Comments

February 14, 2019 Etihad Airways said on Thursday it has agreed with Airbus and Boeing to restructure a “large portion” of its orders, in what appeared to be a major cut in long-haul jet orders. The Abu Dhabi-owned airline said in a statement that it has committed to take delivery of five Airbus A350-1000s and […]

Emirates agrees with Airbus to reduce A380 order, to buy other jets

Posted By Tony Sanchez / Airport / 0 Comments

February 14, 2019 Emirates airline said on Thursday it had reached an agreement with Airbus to reduce its total order of A380 aircraft from 162 to 123 jets. Emirates also said it had signed an new deal with Airbus for 40 A330-900s and 30 A350-900s worth $21.4 billion. Emirates, the largest A380 customer, will take […]