Ship Recycling Markets Remain Muted
Markets remain precariously poised as Diwali holidays occupy the sub-continent markets and the industry heads into the final months of the 2023, says cash buyer GMS. Although several sales have reportedly registered into India at some impressive levels, sentiments and pricing here remains muted overall.“On the Eastern end and in the lead up to the Bangladeshi elections due in mid-January 2024 - disruptions…
NYK Roundtable Highlights Ship-to-Shore Communications
On October 23, NYK held its annual roundtable discussion on current conditions and issues on board vessels, highlighting the role of communications in ship safety.The meeting was held at the NYK head office in Tokyo in a hybrid format and attended by more than 150 participants, including three captains and three chief engineers on leave, the captain and chief engineer on board the car carrier Iris Leader…
CMA CGM Reports Drop in Quarterly Profit
CMA CGM said on Friday its profit fell in the third quarter as a COVID-era boom in shipping continued to fade, but its volumes picked up as a destocking trend in the United States was offset by brisk demand in other parts of the world.The French-based shipping giant was cautious about next year's outlook, with the prospect of a recovery in global trade - as U.S. firms finish destocking - tempered by expectations of modest economic growth and an influx of new vessels.CMA CGM…
Australia Says DP World Cyber Incident 'Serious'
The Australian government on Sunday described as "serious and ongoing" a cybersecurity incident that forced ports operator DP World Australia to suspend operations at ports in several states since Friday.DP World Australia, which manages nearly half of the goods that flow in and out of the country, said it was looking into possible data breaches as well as testing systems "crucial for the resumption…
