British supermarket group Asda has chartered its own cargo ship to protect availability of key Christmas products, it said on Monday as it reported a drop in underlying sales in the third quarter. Asda, owned by brothers Zuber and Mohsin Issa and private equity group TDR Capital, said on Monday the ship, carrying 350 containers of festive products including decorations, toys, clothing and gifts, would arrive in the United Kingdom shortly. British retailers are grappling with delays in international supply chains that are being compounded by labour shortages in domestic ...

World shares held just under record highs while European indexes edged lower on Tuesday, as investors focused on earnings and the Federal Reserve’s two-day meeting which ends on Wednesday. Although Wall Street hit new highs on Monday, during the Asian session sentiment became more mixed, with equities and bonds of Chinese property developers down over worries about spreading financial contagion from the China Evergrande Group’s debt crisis. A debt exchange from one of the country’s top homebuilders triggered a flurry of credit warnings. At 0905 GMT, the MSCI world equity ...

The Institute of Marine Engineering, Science and Technology, (IMarEST), is calling for greater understanding of how to take full account of climate change imperatives in ensuring the effective management and delivery of a Blue Economy which could be worth more than $3 trillion1 by the year 2030. The call comes as the Institute hosts its fourth biennial Oceans of Knowledge conference during the week preceding COP 26. The Climate Change and the Ocean conference will focus on three themes: The sustainable use of the ocean and its resources The role ...

Mooring operation is one of the most common activities at ports and terminals, and also one of the most dangerous aspects of vessel operations. Rope and wire-related mishaps are responsible for 95% of personal injury incidents in the maritime industry, with 60% of them happening during mooring operations, according to the European Harbour Masters’ Committee. These incidents usually lead to severe accidents, or even deaths. Over the years, regulators have been actively reviewing and updating rules and guidelines to reduce the number of such accidents. With this heightened emphasis on ...

Moscord has brought the digital retail revolution to shipping with the first global online marketplace for ship supplies but says much of the conservative industry has still to realise significant potential cost savings by switching from traditional procurement processes five years after its launch. Dubbed the ‘Amazon of the Seas’, the Singapore-based company now has some 500 vessels onboard its unique platform to source everything from stores and technical consumables to spare parts such as valves, filters and electro components. The independent platform enables crew members to order online from ...

South Korea’s crude oil imports rose for the third consecutive month in June amid a robust economic recovery, but a new wave of COVID-19 cases could put immediate brakes on the momentum, while refiners’ growing focus on hydrogen may kick off a long-term downtrend in crude purchases. The world’s fifth-biggest crude importer received 80.165 million barrels, or 2.67 million b/d, in June, up 7.4% from 74.659 million barrels a year earlier, showed latest data from state-run Korea National Oil Corp. The country’s refinery feedstock requirements and fuel demand increased in ...

The dollar slipped against a basket of currencies on Monday as investor focus turned to this week’s Federal Reserve meeting, while cryptocurrencies jumped to their highest levels in weeks. The euro ticked 0.3% higher to $1.1797 ahead of Ifo’s business climate index for Germany, which will be out at 0800 GMT. The yen also gained 0.4% to 110.11 yen per dollar. Cryptocurrency bitcoin jumped 10% to over a five-week high of $39,850, while ether gained 7.35% to $2,353 after London’s City A.M. newspaper cited an un-named “insider” on the weekend ...

The serious dedication needed by seafarers operating a modern merchant ship as it travels the globe delivering world trade is reflected in the findings of a new survey conducted by the Maritime Authority of Jamaica (MAJ) as part of its activities in support of this week’s Day of the Seafarer (June 25). MAJ asked seafarers to rate their feelings before leaving home, on their first day at sea, at the beginning of a shift, and at the end of their contract. Almost 58% of seafarers who took part in the ...

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM), a global container liner shipping company, and Alibaba.com, the world’s leading B2B eCommerce platform and a business unit of Alibaba Group (NYSE: BABA), announced yesterday that they will extend their cooperation agreement for two more years. The agreement which enabled Alibaba.com sellers to book and purchase sea freight on ZIM and logistic services from ZIM Logistics China, a wholly-owned subsidiary of ZIM, has now been expanded to include serving Alibaba.com buyers as well. This collaboration helps Alibaba.com offer its customers a more affordable ...

ESP – Electric, Smart, Powerful: Konecranes Gottwald Generation 6 Mobile Harbor Cranes are built on this genetic code. They combine technology proven a thousand times over with innovation, and offer not only high performance and eco-efficiency but a high level of intelligence, too. With its new Generation 6 Mobile Harbor Cranes, Konecranes has transformed industrial megatrends and current port developments in ports and terminals into high-performance cargo-handling technology. The initial six crane models with maximum lifting capacities of 200 t and radii up to 64 m stand for sustainability, de-carbonization ...

US refined product inventories were sharply higher in the week ended June 4, US Energy Information Administration data showed June 9, as strengthened refinery runs were met by tepid demand. Total gasoline inventories climbed 7.05 million barrels in the week ended June 4 to 241.03 million barrels, EIA data showed, narrowing the deficit to the five-year average to 0.4% from more than 3% the week prior. It was the largest one-week build in gasoline stocks since the week ended April 3, 2020, when the nation faced widespread pandemic lockdowns. Distillate ...

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) has decided to introduce the “K”ARE programme (Note 1) on a full scale utilizing Norway based SAYFR’s (Note 2) insight and gamified learning apps. In order to achieve safe operation and to continuously improve service quality, “K” LINE believes that a combination of technical and non-technical skills (Note 3) is important. Technical skills refer to professional marine and technical knowledge/skills whereas non-technical skills are about improving communication and collaboration through respect and care for each other. Through the “K”ARE programme, everyone in the “K” ...

NASDAQ-Adv: 776 Dec: 2,459 NYSE-Adv: 745 Dec: 3,070(Source: Nasdaq)

Indian Register of Shipping (IRClass), an international ship classification society, launches a new service to provide certification of marine containers in accordance with IMO International Convention for Safe Containers (CSC). It has released Guidelines on Certification of Containers. The guidelines were developed by the Rule Development & Associated Research team headed by Mr. N Girish. IRClass has received authorisation from the Government of India (Directorate General of Shipping) and other leading Flag Administrations towards the certification of containers. The process includes review and approval of container design, assessment of production ...

A softening of buying rates post Chinese New Year has enabled Davies Turner to reduce the rates for its Express China rail freight service, which is the only direct weekly fixed-day intermodal service between China and UK. Furthermore, as a result of new rail services being launched in China, the UK’s leading independent freight forwarding and logistics company is also recommencing its FCL service, which has proven popular in the past. Tony Cole, Davies Turner’s Head of Ocean comments: “Our weekly LCL volumes on the overland rail freight service have ...