Clarksons First Half Profit Falls Amid Challenging Trading In Shipping, Offshore Markets

Integrated shipping services firm Clarskson Plc saw its profit drop in the first half of 2018 after a challenging trading environment across the shipping and offshore capital markets. The UK-based firm reported a pre-tax profit of £18 million in H1 2018, down from £21.9 million in H1 2017. Revenue also fell to £152.6 million from £156.8 million in 2017. “The first quarter … [Read more...]

Biggest Indian Cargo Company Wants to Build an Uber for Shipping

By P R Sanjai (Bloomberg) -- Allcargo Logistics Ltd. is emulating Uber Technologies Inc. to boost its business of sharing marine containers. A unit of the Mumbai-based Allcargo, ECU Worldwide, which aggregates orders from clients, plans to use Uber’s model to make it easier for clients to book marine freight. Allcargo, which reported a drop in profit in four of the past … [Read more...]

Blockchain Is About to Revolutionize the Shipping Industry

By Kyunghee Park (Bloomberg) -- Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents. That last throwback to 19th century trade is about to fall. A.P. Moeller-Maersk A/S … [Read more...]

Moore Stephens: Shipping Industry Confidence at Four-Year High

(Moore Stephens) - Shipping confidence reached a four-year high in the three months to end-February 2018, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. The average confidence level expressed by respondents was up from 6.2 out of 10.0 in November 2017 to 6.4 this time. Confidence on the part of owners was … [Read more...]

U.S. Fund Manager to Launch First ETF for Shipping Futures

By Jonathan Saul and Maiya Keidan LONDON, March 8 (Reuters) - U.S.-based fund manager Breakwave Advisors is launching the first exchange-traded fund (ETF) focusing on freight futures, reflecting growing investor interest in shipping as it emerges from a near-decade long crisis, a regulatory filing showed. Around 90 percent of traded goods by volume are transported by … [Read more...]