by Jacob Gronholt-Pedersen (Reuters) - The world’s largest container shipping company, A.P. Moller-Maersk, warned trade headwinds would slow growth this year, sending its shares down 10 percent on Thursday. Maersk is also moving ahead with spinning off Maersk Drilling, announcing it expected its new listing in Copenhagen to begin trading on April 4. Maersk Line in … [Read more...]
SUNY Maritime Brings Home Top Rankings
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...]