With high school seniors across the US get busy applying for college, SUNY Maritime College in New York City has won an unprecedented set of awards for 2018. The college was recognized for its overall educational quality, the earning potential of its graduates, career placement rates and the value of its engineering programs. According to the Princeton Review, SUNY … [Read more...]
Profit Falls 98 Percent For Cosco
by Brenda Goh (Reuters) - China’s COSCO Shipping Holdings Co Ltd on Thursday said first-half profits fell 97.8 percent as it grappled with higher costs and a slide in freight rates. China’s largest shipping group, which has bought a Hong Kong peer to become the world’s third-largest container liner, said January-June net profit was 40.8 million yuan ($6 million), down from … [Read more...]
Is DP World’s ‘One-Stop Shop’ Ambition Too Risky?
By Mike Wackett (TheLoadstar) DP World’s planned acquisition of European shortsea container line Unifeeder took the industry by surprise when the deal was announced earlier this month. The rationale for the global port operator’s proposed $765m purchase of North Europe’s leading feeder and domestic container carrier from private equity group Nordic Capital has had analysts … [Read more...]
Greek Shipowner Denies Drug Trafficking Charges
by Constantinos Georgizas (Reuters) - Greek shipping tycoon Vangelis Marinakis, the owner of Olympiakos Piraeus and Nottingham Forest soccer teams, denied any links to drug trafficking on Saturday, a day after a Greek prosecutor brought preliminary charges against him. The prosecutor accused Marinakis of financing and storing drug substances and setting up a … [Read more...]
IMO’s 2020 Sulphur Cap Seen Ushering In New Era of Slow-Steaming
By Alex Longley, Firat Kayakiran and Irene García Pérez (Bloomberg) -- 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 wider consequences … [Read more...]