The attacks on shipping in the Red Sea have sharply driven up rates as vessels divert by the Cape of Good Hope attracting the interest of stock investors in listed container lines, although the situation remains extremely fluid.
Italian startup container line Kalypso has filed for bankruptcy following a collapse in freight rates and the disruption of its services to Israel, reported Italian media.
Inchcape Shipping Services announced a major investment in Leth Suez Transit, a global shipping agency headquartered in Egypt.
The EU’s Emission’s Trading System for shipping, the resurgence of piracy, and electronic trade documentation are all trends to keep a watchful eye on in the new year according to Keystone Law.
The Brazilian Federal Prosecutors’ Office has dropped corruption charges against a former Sembcorp Marine (Sembmarine) employee and a former consultant to the Singapore shipyard group.