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Danaos Delivers Major Loss due to Impairments

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 20, 2019 Greek containership owner Danaos Corporation ended the fourth quarter of 2018 with a major loss due to recorded impairment charges. The company’s net loss for the quarter ended December 31, 2018 reached USD 180.9 million, compared to a net income of USD 22.8 million seen a year before. Danaos recognized an impairment […]

Emirates to add Porto flights in July

Posted By Tony Sanchez / Airlines / 0 Comments

February 19, 2019 Emirates is launch a four times weekly service between Portugal’s second largest city, Porto, and Dubai from 2 July. The flight will be operated by a Boeing 777-300ER aircraft, departing Dubai on Tuesday, Thursday, Saturday and Sunday at 0915 and arriving in Porto at 1430. The return flight will depart Porto at […]

Boeing is latest addition to the Lufthansa family

Posted By Tony Sanchez / Airlines / 0 Comments

February 19, 2019 A brand-new Boeing 777F joined the Lufthansa Cargo fleet on the morning of 19 February when it landed at Frankfurt Airport on its delivery flight from the US. The latest addition to the fleet is the carrier’s sixth Boeing 777F. Chief operations officer, Harald Gloy, declared: “This aircraft is the quietest and […]

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

Posted By Tony Sanchez / Uncategorized / 0 Comments

February 18, 209 Source:( CNBC)

Nakilat Grows Profit in 2018

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

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

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

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

Posted By Tony Sanchez / Cargo News / 0 Comments

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 […]