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Maersk reports third-best financial year

A.P. Moller – Maersk reports strong financial results for 2024 with growth across all segments and significantly improved profitability with EBIT increasing 65% to USD 6.5 billion. Results were driven by higher container demand and elevated freight rates in Ocean, top line and volume growth in Terminals and solid improvements in most Logistics & Services products. Given the strong results and the strength of the balance sheet, the Board of Directors proposes a dividend of DKK 1,120/share and also separately announced the initiation of a share buy-back programme of up ...

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EU maritime transport: progress made, but environmental, sustainability challenges persist

Europe’s maritime sector is making progress towards greater sustainability but will need to increase its efforts over the coming years to meet EU climate and environment goals aimed at reducing energy use, pollution, and greenhouse gas emissions as well as better protecting biodiversity. That is according to the second edition of the European Maritime Transport Environmental Report, released today by the European Maritime Safety Agency (EMSA) and the European Environment Agency (EEA). Maritime transport plays a crucial role in sustaining trade, economic growth, connectivity, and accessibility, while also contributing to ...

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Navigating Consensus on Maritime Decarbonization

On January 29, 2025, leading voices from the Pacic and beyond gathered for the webinar “Negotiating Consensus: Breaking Down the 6PAC+ Submissions to ISWG-GHG 18.” The event, moderated by John Taukave, featured key insights from Ambassador Albon Ishoda, Special Envoy for Maritime Decarbonization, alongside an expert panel including Captain Daniel Adam (Seychelles) and MCST’s legal drafting team: John Kautoke, Atina Schutz, and Pierre-Jean Bordahandy. The discussion centered on the 6PAC+ alliance’s proposals for ISWG-GHG 18, particularly the implementation of a universal greenhouse gas (GHG) levy and an equitable revenue disbursement ...

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Atlantic Supramax scrap market witnesses drop due to inactivity in week 5

The supramax segment in the Continent and Baltic Sea regions endured another trading week under bearish momentum, as the quiet market led to lower levels for the week of Jan. 27 – Feb. 3. During the week, spot rates continued to face pressure as the scrap market struggled to supply adequate cargo and remained weak due to limited opportunities. “The market remains under pressure with weak demand and excess tonnage,” a source said. Ultimately, the market saw weak sentiment, with the push of excess tonnage putting the market under pressure. ...

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Maritime Security Update: Key Global Developments

The latest Maritime Security Threat Advisory (MSTA) from Dryad Global highlights pressing security concerns and geopolitical developments impacting the maritime industry. Here are the key takeaways from the 3 February 2025 report: Heightened Tensions in the Panama Canal A significant focus remains on the Panama Canal, where U.S.-China tensions are escalating. The U.S. Secretary of State’s recent visit to Panama underscored American concerns over Chinese influence in the region. The U.S. has warned Panama about the potential security risks posed by Chinese firms operating in key port locations at both ...

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Lehmann Marine’s CUBE battery system certified by Lloyd’s Register

Our CUBE battery system has been type-approved by Lloyd’s Register. This prestigious certification marks the fourth major classification society to approve the CUBE battery system, following Bureau Veritas, DNV, and RINA approvals. The Lloyd’s Register type approval further underlines Lehmann Marine‘s flexible battery modules‘ reliability, safety, and quality, paving the way for broader adoption across the maritime industry. With this latest certification, shipbuilders, operators, and integrators are set to have even greater confidence in the CUBE system’s compliance with stringent industry standards. “We are honoured to receive this recognition from ...

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Ocean Network Express and LX Pantos Announce Joint Venture to Strengthen US Domestic Intermodal Transportation Services

Ocean Network Express (“ONE”) and LX Pantos are pleased to announce the successful completion of their joint venture, Boxlinks LLC (“Boxlinks”). This strategic partnership will leverage the combined strengths of ONE and LX Pantos to provide end-to-end domestic intermodal transportation services, utilizing both companies’ partnerships with major rail carriers and trucking companies to provide efficient and timely delivery of cargo in the United States. Hiroki Tsujii, Global Chief Officer – Head of Product & Network at ONE, commented, “Through Boxlinks, we are transforming how we deliver value in the United ...

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ClassNK issues Approval in Principle (AiP) for Coastal Liquefied CO2 Carrier developed by Mitsubishi Shipbuilding and Nippon Gas Line

ClassNK has issued an Approval in Principle (AiP) for a design concept of a coastal liquefied CO2 carrier jointly developed by Mitsubishi Shipbuilding Co., Ltd. and Nippon Gas Line Co., Ltd. In building the CCS*1 value chain, in addition to large ships transporting CO2 domestically and internationally, coastal vessels that collect CO2 from small-scale emission sites in Japan and transport it to base sites toward overseas storage sites play a crucial role, with demand expected to grow. This AiP represents a step toward realizing the supply of coastal liquefied CO2 ...

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HD Hyundai Marine sets sights on LNG vessel retrofitting in Trump era

While the global shipbuilding industry was reeling from the economic slowdown in recent years, South Korea’s HD Hyundai Marine Solution Co., a ship repair and maintenance service unit of the world’s No. 1 shipbuilder HD Hyundai Heavy Industries Co., looked to the silver lining. Unscathed by the global slowdown during the pandemic, the company rather benefited from growing demand for vessel maintenance, repair and overhaul (MRO) and retrofitting projects from ship owners. With US President Donald Trump kicking off his second term earlier this month, HD Hyundai Marine sees even ...

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FUJAIRAH DATA: Oil product stocks fall from six-month high

Oil products inventories at the UAE’s Port of Fujairah fell 2.8% in the week ended Feb. 3, led by a 33% tumble in jet fuel, diesel and other middle distillates, according to Fujairah Oil Industry Zone data published Feb. 5. The total dropped to 18.328 million barrels from a six-month high a week earlier, according to FOIZ data. Middle distillates ended at 1.841 million barrels, a 12-week low while heavy distillates used as fuel oil for power generation and shipping fell 6% to 8.1848 million barrels, a two-week low. Light ...

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FEPORT and 44 European Transport Organisations Call for a Stronger EU Transport Budget

FEPORT, alongside 44 European transport organisations, urges EU policymakers to uphold a strong, centrally coordinated transport funding instrument to address Europe’s infrastructure, resilience, and decarbonisation challenges. A well-functioning, integrated transport network is essential to maintaining Europe’s supply chain sovereignty and enabling the shift to a net-zero economy. European-level funding ensures investments of high EU-added value, tackling cross-border bottlenecks, improving intermodality, and supporting the long-term competitiveness of the transport sector. “Strategic EU investment in transport is critical to overcoming fragmentation, ensuring infrastructure aligns with the needs of businesses, and strengthening Europe’s ...

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US crude imports from Mexico drop to record low in Jan 31 week, EIA says

U.S. crude oil imports from Mexico fell by 372,000 barrels per day (bpd) to a weekly record low of 149,000 bpd in the week ended Jan. 31, according to data from the U.S. Energy Information Administration’s (EIA) Petroleum Supply Report going back to 2010. That was lower than the prior all-time low for U.S. crude oil imports from Mexico of 151,000 bpd in the week ended Nov. 22, 2024. Last week’s record low came during the week before U.S. President Donald Trump threatened to impose 25% tariffs on Mexico and ...

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China has delayed or redirected 600,000 tons of wheat imports, sources say

China has delayed imports of up to 600,000 metric tons of mostly Australian wheat and offered some of these cargoes to other buyers as ample domestic supplies reduce demand in the world’s top buyer of the grain, two trade sources with direct knowledge of the matter said. China accounted for 6% of global wheat imports in the year to June 2024, according to U.S. Department of Agriculture data. With its outsized role in the market, the country’s lower intake may pressure benchmark Chicago wheat prices, which remain below $6 a ...

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Corn, soybeans hover near multi-month highs on no-tariff relief

Chicago corn and soybean futures rose on Thursday towards multi-month highs, supported by relief that U.S. President Donald Trump has not unleashed tariffs on agricultural trade, though improving crop weather in Argentina limited gains. Wheat was unchanged amid weak demand. The most active corn contract on the Chicago Board of Trade (CBOT) was up 0.2% at $4.94-1/4 a bushel, as of 0725 GMT, with CBOT soybeans rising 0.6% to $10.63-3/4 a bushel and wheat flat at $5.72-1/4 a bushel. In the previous session, corn rose to a 16-month high of ...

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European aluminum demand remains fragile: Metlen

Aluminum demand in Europe remains fragile due to subdued activity in key consuming sectors like automotive and construction, while global trade tensions are creating further unpredictability, Greece’s Metlen Energy & Metals Chief Executive Director, Metallurgy Dimitrios Stefanidis told S&P Global Commodity Insights in an interview. “The aluminum market remains in a state of flux, shaped by macroeconomic uncertainty, geopolitical developments, and shifting trade policies,” he said. Metlen’s Aluminium of Greece plant, located in Agios Nikolaos in central Greece, has a primary aluminum production capacity of 185,000 mt/year. Stefanidis said Metlen ...

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