Maersk To Merge Damco, Ocean Product Units

To better serve customers and unlock growth potential in the Logistics & Services segment, A.P. Moller – Maersk will combine its offering for ocean products and supply chain services to be able to offer more comprehensive end-to-end logistic solutions for cargo owners. This is the next step in the Maersk journey to become a global,
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At yesterday’s IUMI conference in Cape Town, Chair of the Ocean Hull Committee, Mark Edmondson, highlighted a continuing deterioration of premium income against the more positive picture of an improving risk profile. However, the international market has shown signs of improvement during 2018, although continuing volatility and uncertainty in many sectors remained a concern. “Whilst
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The Ocean Cleanup, the Dutch non-profit organization developing advanced technologies to rid the oceans of plastic, on 8 September 2018 launched the world’s first ocean cleanup system from the San Francisco Bay says an official release.   The cleanup system (“System 001”) is heading to a location 240 nautical miles offshore for a two-week trial before
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At the United Nations in New York, the International Chamber of Shipping (ICS) is representing shipowners at the start of a major negotiation to agree a new legal instrument for the protection of the ocean under the UN Convention on the Law of the Sea (UNCLOS) – which will apply to ‘high seas’ areas ‘beyond
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South Korean shipping company Pan Ocean has ordered two Ultramax bulkers from Chinese New Times Shipbuilding, Clarksons said in its weekly shipbuilding report. Under the contract, Pan Ocean has an option for one more 64,000 dwt bulk carrier. The newbuilding duo has been earmarked for delivery in 2020, according to Clarksons. The order has been
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Under President Trump, the freight forwarding industry has already been rocked by about-turns in the US trade policy. With a number of new tariffs likely to be introduced in the coming months, freight forwarders fear that further supply chain flux will follow and, as a result, air and ocean freight rates could face downside pressure.
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SEOUL: The newly launched Korea Ocean Business Corporation announced support for 10 small to medium shipping lines to help revive the Nation’s maritime sector. Local news report states that the state-run corporation will provide sale and lease back assistance for 10 vessels, a move designed to give the companies fresh funds without business disruption. The
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MARSEILLE: CMA CGM is glad to announce the revamping of dedicated CIMEX 6 service linking Asia and the Middle East Gulf with Umm Qasr call replacing Bandar Abbas as from Shanghai ETA on August 6th, 2018. With CIMEX 6, CMA CGM will offer a direct service from Asia to Umm Qasr, Iraq, said a company
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If you happen to be at the beach this summer, make a mental note of any giant freighters crossing the horizon. In a few years’ time those same ships will probably be moving just a fraction slower. If the slowdown does happen — and the likes of Citigroup Inc. say it will — then the
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New York-listed Aegean Marine Petroleum said it may need to write off as much as $200 million owed to the company, adding to uncertainty over the future of one of the world’s largest bunker fuel suppliers. Aegean, in a statement late on Monday, said it was owed the money by four counterparties, mostly from transactions
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