Page 58 - Intelligence Limited News Today

Carrier expects full-year loss for 2024 in ‘difficult’ market. Svitzer towage unit to be demerged in to standalone business

Idan Ofer has liquidated his position in New York-listed tanker owner International Seaways held through Quantum Pacific Shipping and EPS Ventures. He first disclosed a 5.05% stake in October 2022

While volumes remained flat, net freight rates hit a record high of $83.4 per cu m because of a continued shortage of vehicle carrier capacity

More industry members expected to join the not-for-profit initiative in the months ahead

‘We are in a phase where we are very concerned about evasion. I think that is clear from the actions we have taken. I think it is fair to say you can anticipate us continuing to take action,’ the Hellenic American and Norwegian American Chambers of Commerce forum in New York hears

Maersk expects that diversions will help it avoid losses in the first quarter. But in the longer term, rerouting will not provide the same boost to finances the pandemic did

Mediterranean feeder networks and routes from the US that serve Israeli ports have strengthened to compensate for lost volume via the Red Sea

Maersk has become the first shipping company to validate its 2030 and 2040 climate targets with the Science-Based Targets Initiative organisation in alignment with a 1.5°C and net zero pathway

‘We see more potential for dry cargo in the longer term but in the short term we’re optimistic on tanker rates,’ says Norden chief executive

Newly promoted Katie Costello’s sector knowledge and time in the business made her ‘perfectly poised to take our hull and war business forward’, Markel’s director of marine says