https://youtu.be/R-KPxR_OR8Q By Captain John Konrad (gCaptain) In our article "THIS IS NOT A DRILL" we sounded the alarm on the failure of the US Merchant Marine. We followed that article with a video titled "PAN PAN - An Impassioned Call For Change" A video in which I cried (literally) for help from Congress to conduct a Truman Committee type look into the US Navy and US … [Read more...]
Maersk Forecasts A Return To Pre-COVID Container Demand In 2021
by Jacob Gronholt-Pedersen (Reuters) - Shipping group Maersk on Wednesday issued full-year earnings guidance above its forecast at the beginning of the year and said it expects demand for moving containers at sea to return to pre-COVID levels in the first half of next year. The company’s share price jumped more than 7% in early trade to an eight-month high, and has doubled … [Read more...]
Carnival Corporation Downgraded to Junk Status
June 23 (Reuters) - Ratings agency Standard & Poor's on Tuesday downgraded bonds of Carnival Corp to junk status, forecasting continued weak demand for the cruise industry hammered by the COVID-19 pandemic. Standard & Poor's cut its rating on the world's biggest cruise operator's secured bonds to 'BB+' from 'BBB-', and its unsecured bonds to 'BB-' from 'BBB-'. Both … [Read more...]
Transocean Is The Decade’s Biggest Loser
With COVID19 wreaking havoc in the stock market, you might think that travel or tourism stock might be the biggest losers of the past decade. But, according to a new report by Kiplinger, we are technically still in an eleven-year bull run. Many companies are still making money but the biggest losers, like Transocean, have lost big. With a current market value of about $1.5 … [Read more...]
Credit Suisse, Others Back Initiative to Factor CO2 Cuts into Shipping Finance
By Jonathan Saul LONDON, Jan 30 (Reuters) - Credit Suisse, BNP Paribas and French public investment bank Bpifrance are the latest lenders to join an initiative to link provision of shipping finance to cuts in carbon dioxide emissions. Global shipping accounts for 2.2% of the world's CO2 emissions and the industry is under pressure to reduce those emissions and other … [Read more...]