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Zim mulling IPO as it moves to pay down debt

Strong conditions prompt Zim to pay off bond debt as it confirms IPO is on the cards

Middle East and Africa Israel

Crewing crisis: Just how many seafarers are affected?

Shipping groups estimate about 400,000 crew are now stuck at sea with the same number on land. But the complexities of the pandemic make finding such numbers a guessing game

International Coronavirus

Sovcomflot opens books to raise $534m on Moscow exchange

Russian oil companies comprise nearly half the revenues, as Sovcomflot becomes a “seaborne extension” of energy pipelines

Europe Russian Federation

‘Poor underwriting’ pushes P&I clubs to loss

All International Group affiliates bar Steamship lost money on underwriting last year, although most turned surplus on back of improved investment return, says annual report from brokers

International Insurance

Capesize rates receive boost from Brazil

Sentiment is mostly positive in the largest of the dry bulk segments with capesize rates up almost 50% on the week. Market participants believe that higher earnings are possible in the fourth quarter of the year, which is usually the strongest, despite the futures market being in backwardation

Dry Bulk International

HHI secures orders for four VLCCs

While awaiting regulatory approvals for its high-profile merger with fellow Korean shipbuilder DSME, HHI's Korean Shipbuilding & Offshore Engineering continues to add to its order backlog. These latest contracts cover the construction of four VLCCs and are worth a total of $360m

HHI VLCC

From the News Desk: Crewing crisis is risk to global supply chain

Up to 1m seafarers could be impacted by the political impasse over crew changes as the UN is warned that a failure to act could result in a humanitarian crisis and risk the safety of global trade

Dry Bulk Casualty

CMA CGM systems remain down frustrating freight forwarders

The extent of the damage from the ransomware attack on CMA CGM remains unknown and any attempt to determine the impact would be pure speculation, according to a maritime cyber security expert. Much of the company’s network is still closed more than 24 hours after the incident

Europe France

Boxship under coastguard escort after fire

Incident comes after a string of blazes on vessels of this type, including Yantian Express, APL Vancouver, E.R. Kobe, KMTC Hong Kong and Grande America

India Casualty

Mystery ‘hole’ found in hull of Baltic ferry wreck

In the 26 years since the vessel’s capsize and sinking, several conspiracy theories have emerged. The new footage has been taken seriously by the Estonian prime minister

Estonia Sweden

HHLA takes majority share in Trieste terminal

German terminal operator signs deal for a 50.01% share in Piattaforma Logistica Trieste, or PLT, located on Italy’s Adriatic coast. The acquisition represents the group’s third foray overseas, in addition to terminal interests in Ukraine and Estonia

Europe Germany

Scorpio Bulkers selling vessels in offshore wind transition

‘Last month we announced a new direction for Scorpio Bulkers — offshore wind as a sustainable business opportunity. This sale represents a step, one of the many deliberate steps we must take, in our transition,’ said chief executive Emanuele Lauro

Dry Bulk Sale and Purchase
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