Page 77 - Intelligence Limited News Today

Airfreight was seen as a natural extension during the pandemic boom years. Now CMA CGM will have to go back to the drawing board for its airborne ambitions

Scorpio has sold a 2015-built MR tanker for $39.1m, a ‘strong’ price according to Jefferies that indicates the companies’ net asset value at $82 per share. The New York-listed owner also announced exercising purchase options on five leased tankers, reducing debt by $61.1m

Chinese shipmanager currently also has an orderbook of another 13 newbuildings

Biofuel bunkering demand at Dutch ports to remain supported owing to environmental regulations despite lower subsidies in 2024, as shipping companies rush to secure bio-blended fuel volumes to comply with CII and FuelEU Maritime

Shell ‘suspends Red Sea transits’ as charterers reassess Houthi risk | Tipping point may be ‘only a few more attacks away’ | Greek-owned bulk carrier struck by missile as two Houthi attacks reported

Two IMO member states and multiple industry groups said it is ‘inadvisable’ to use CII during the review period through to 2026, while IMO officials acknowledge industry concerns surrounding its ruling

Propane prices have been rising in the US while falling in China, analysts say, narrowing the arbitrage and hitting VLGC freight rates. Meanwhile, diversions around the Cape of Good Hope have risen sharply in December amid the Red Sea threat and Panama Canal woes

PSA International saw volumes rise by 4% in 2023, despite flat container volume demand. Flagship Singapore facility handled nearly 40m teu

APM Terminal and Louisiana’s Plaquemines port unveil agreement to build a container terminal with an estimated initial investment of $500m

Frontline has reached an agreement to sell its oldest VLCCs, built between 2009 and 2010 for $290m, with delivery slated in the first quarter. It expects to generate cash proceeds of $207m from the sale