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19Th1119/11/2019

SPDB Financial Leasing Acquires Two CMA CGM Vessels

SPDB Financial Leasing, part of Shanghai Pudong Development Bank (SPD Bank), has signed an operating lease agreement for two 11,380 TEU CMA CGM boxships. The signing ceremony took place in Shanghai on November 18, 2019, the bank said in a statement. Under the agreement, SPDB Financial Leasing purchased two vessels from the French shipping company CMA CGM. No details on the price have been disclosed. The transaction is said to be the first cross-border leasing project involving domestic financial leasing companies in the...

18Th1118/11/2019

IMO Working Group Moves Forward to Help Reduce GHG Emissions

The IMO Intersessional Working Group on Reduction of GHG Emissions from Ships agreed last week to establish a dedicated workstream for the development of lifecycle greenhouse gas/carbon intensity guidelines for all relevant types of fuels. As explained, the move comes in an effort for the International Maritime Organization to encourage the uptake of alternative low- and zero-carbon fuels in the shipping sector. Specifically, the guidelines could include biofuels, electro-/synthetic fuels such as hydrogen or ammonia, as well as other types of...

15Th1115/11/2019

Maersk’s Operating Results Up despite Lower Container Demand

Danish shipping major Maersk delivered an improvement in its operating results despite a lower global container demand seen in the quarter ended September 30, 2019. While revenue decreased by 0.9% to USD 10.1 billion in the third quarter of 2019, profitability continued to improve, with EBITDA increasing by 14% to USD 1.7 billion, reflecting an improved EBITDA margin of 16.5%. EBITDA in Ocean improved by 13% to USD 1.3 billion and the margin increased to 17.4%. Revenue decreased by 0.9% to...

14Th1114/11/2019

Yangzijiang Secures 11 Orders in 2nd Half of 2019

Singapore-listed Yangzijiang Shipbuilding secured 11 shipbuilding orders so far in the second half of 2019 as new order momentum picked up in recent months. Further to the 5 new orders that the group signed in the first half of 2019 amid an overall weak market, the second half started out better with a further 11 orders worth a total of USD 487 million. The units contracted in the second half of the year include three 82,000 dwt bulk carriers, four 31,800...