The bankruptcy of Hanjin Shipping has been described as “unknown territory” for the container sector, but in the long run it could be positive for the industry.
The overall sluggish shipping market of today can look forward to the One Belt One Road (OBOR) initiative as a long term catalyst for growth, industry players from the financial sector have shared.
The Capital Link New York Maritime Forum this week was notable not only for its discussions on the market but also because it facilitated a recognition of New York’s shipping “cluster” by the political establishment.
Greek Shipping and Island Policy minister, Thodoris Dritsas has reiterated the government's aim is to “re-shape shipping” to reflect the national character of the country’s shipping industry and this includes a new collective labour agreement.
Cyprus Transport Minister Marios Demetriades said that despite the financial crisis, shipping continued to be the steam engine of the world economy.
Singapore-listed shipping and offshore marine firms can heave a sigh of relief on hearing Singapore Exchange’s (SGX) latest announcement to review the minimum trading price (MTP) watch-list criteria.
Istanbul-based Palmali Shipping Company, a major player in the Black and Caspian Seas, has contracted the Russian Maritime Register of Shipping (RS) to class close to half of its 100+ strong fleet.
Only 15% of the shipping industry believe that current market conditions are positive for the sector according to annual survey by Norton Rose Fullbright.
With the dust still to settle five days after the UK’s unexpected referendum vote to leave the EU, several of the country’s maritime and business bodies moved to try and restore a sense of normality yesterday.