BusinessNews
CMA CGM Founder Jacques R. Saadé Passes
Jacques R. Saadé, the founding president of the CMA CGM Group, passed away on June 24 at the age of 81. Saadé was born in Beirut, Lebanon in 1937. He graduated from the London School of Economics in 1957 and soon took...
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Deutsche Bank Disposes of $1B in Soured Shipping Loans
Deutsche Bank has sold a $1 billion portfolio of shipping loans to a venture owned by two investment funds, Oak Hill Advisors and Varde Partners. The bank says that it intends to stay in the business of shipping finance. “Following...
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Trump Threatens Tariffs on $200B in Chinese Goods
On Tuesday, U.S. President Donald Trump expanded his plan to impose tariffs on Chinese goods, increasing the stakes in an emerging trade war with Beijing. In his latest warning, Trump threatened to implement a 10 percent tariff on Chinese imports worth $200...
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Trade War Looms as China Promises New Tariffs
On Saturday, Beijing announced that it will match President Donald Trump's plan to impose 25 percent tariffs on $50 billion worth of Chinese goods, raising the possibility of a damaging trade war. China's countervailing tariffs will impose the same penalty...
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Ballast Water Treatment at Muddy Water Ports
India has been advocating for port-based mobile treated ballast water delivering facilities called BWTBoats since 2013. Given the recent real-world experiences with the challenges of ballast water treatment at muddy water ports and the forthcoming financial burden for ship owners to comply...
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Cylinder Oil Options for a Post-2020 World
The choice of cylinder oil is typically determined by three factors: the marine engine itself; the fuel being used; and the vessel’s operating conditions. Given this, the limitation of sulfur content to 0.5 percent in marine fuel from 2020 by the...
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Bringing Ship Managers and Owners Together Through Digitalization
Shipping has been toying with digitalization since the turn of the century. E-procurement was the first step into the digital world for many ship owners and managers, but overall, it did not...
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BP: Global Carbon Emissions Rose in 2017
Global primary energy consumption grew strongly in 2017, led by natural gas and renewables, with coal’s share of the energy mix continuing to decline. However, with the rising demand for energy, 2017 saw a material increase in carbon emissions of...
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Euronav Completes Merger with Gener8 Maritime
Tanker shipping companies Euronav and Gener8 Maritime have concluded their merger. The merger creates an independent large crude tanker operator which includes: • 76 operating crude tankers, consisting of 43 VLCCs, 27 Suezmaxes, two ULCC, two Panamax tankers...
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Inmarsat Rejects Takeover Bid from EchoStar
Satellite operator Inmarsat announced Friday that it turned down a "highly preliminary" takeover offer from American competitor EchoStar. "[The bid] very significantly undervalued Inmarsat and its stand-alone prospects," Inmarsat said in a statement. "The board remains highly confident in the independent...
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