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Lorenzo Shipping: 53% reduction in 2017 loss shows business plan working
Apr. 23 | Lorenzo shipping’s freight revenues dropped 3.1% in 2017 to P2.182 billion from P2.253 billion in 2016, as vessel capacity put pressure on the freight base. Photo from www.lorenzoshipping.com. Philippine liner Lorenzo Shipping Corp. (LSC) reported...
CMA CGM to carve bigger logistics presence by buying a stake in Ceva
Apr. 20 | French shipping giant CMA CGM announced it has reached an agreement to acquire an equity stake of nearly 25% in logistic company Ceva Logistics AG. CMA CGM said in a statement on April 20 that it has committed to subscribe for mandatory convertible securities...
Shipping lauds new IMO emissions strategy but sees challenges
Apr. 16 | The shipping industry has welcomed the adoption by the International Maritime Organization (IMO) on April 13 of an initial strategy to further reduce greenhouse gas (GHG) emissions from ships, but expects challenges and hard work ahead if the IMO ambitions...
IMO members agree to cut by 50% greenhouse gas emissions from ships by 2050
Apr. 14 | More than 100 member states of the International Maritime Organization (IMO) adopted during the 72nd session of the IMO’s Marine Environment Protection Committee (MEPC) in London an initial strategy to reduce greenhouse gas (GHG) emissions from ships. The...
HSSSI reports slight profit growth in 2017
Apr. 11 | Marine services provider Harbor Star Shipping Services, Inc. (HSSSI) reported a net income of P108.8 million in 2017, which is 7.8% higher than the P100.9 million earned in 2016, as a result of stronger profits. In a regulatory disclosure, HSSSI said...
Mixed outlook for box carriers amid a challenging 2018—report
Apr. 11 | Although the container shipping industry enjoyed modest improvement in 2017, it still needs to address the dual challenges of rising costs and oversupply—driven mostly by fleet expansion—to keep the momentum going, according to a new report by AlixPartners. “The...
IMO marine committee set to adopt initial GHG strategy for shipping
Apr. 11 | The adoption of an initial strategy to reduce greenhouse gas (GHG) emissions from ships is one of the key items on the agenda of the International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC 72), now holding its 72nd...
MARPOL-mandated ship fuel oil data collection begins Jan 2019
Apr. 4 | Data collection by ships of their fuel oil consumption will start on January 1, 2019, as decreed by amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL). The amendments entered into force March 1, 2018. Other...
Hapag-Lloyd cautiously upbeat after logging profit in 2017
Apr. 1 | German ocean carrier Hapag-Lloyd said it achieved positive income growth and more than tripled its operating result (EBIT) in 2017 compared to 2016, spurred by the successful merger with United Arab Shipping Company (UASC) and higher freight rates and...
