Maritime companies have generally failed to gain respect from investors. With a few exceptions, share prices are below the net asset values - a proxy for the liquidation value if a company could be broken up, assets sold, and debt paid off.
Though Greek owners continue to rule the global roost when fleet size and asset value, due to the unstable market conditions and new regulatory requirements, for the first time in decade on an annual basis in the 12 months to the beginning of March the size of the Greek-controlled fleet recorded a decline year-on-year.
In profile: Bahri are a Strategic Partner of the Saudi Maritime Congress and will be in attendance at the event in Riyadh on 11-12 March. Ahead of the show, they share with Seatrade Maritime News their current standing in the industry, as well as their contribution to regional growth.
Wilhelmsen Ship Management (WSM) is re-entering the crude tanker segment a decade after it exited with the sale of ITM Ship Management.
Panama agreed to remove from its Ship Registry some 60 Iranian vessels to avoid being placed on a US Treasury blacklist.
Recently, in the closing days of October, Bahri (originally National Shipping Corporation of Saudi Arabia) underscored its position of leadership in the world of transportation and logistics by scooping a fistful of coveted industry awards at ceremonies held in Dubai and Londo
China Merchants Energy Shipping (CMES) expects to record around RMB11.3-RMB12.5bn net profit in 2018, $1.84bn a huge increase of 84%-104% year-on-year.
Singapore-listed First Ship Lease Trust (FSL Trust) is suing Torm for redelivering two bareboat chartered vessels in “untradeable” condition.