What’s in store for 2015?

What’s in store for 2015?

Singapore: With less than two weeks till the end of the year our sister title Maritime CEO has raided its archives to present a unique review of the year from the viewpoint of many of the world’s top shipowners. The review looks at private equity, prospects for dry bulk, tankers and containers, the era of consolidation, impending ECAs as well as some words of advice from leading owners.

ZIM focuses on streamlining global operations

ZIM focuses on streamlining global operations Cairo: Israeli containerline ZIM has set out plans for a much slimmer organisation post-restructuring. In a statement released yesterday, the line laid out its intentions to streamline operations around the world by creating what ...

DP World votes to delist from LSE and buy Jebel Ali Free Zone

DP World votes to delist from LSE and buy Jebel Ali Free ZoneDubai: Shareholders have voted to back DP World’s decision to delist from the London Stock Exchange on approximately January 21, 2015. Votes were also cast in favour of DP World’s acquisition of Economic Zones World FZE (EZW) ...

Captain and second officer of Suez collision ship detained

Captain and second officer of Suez collision ship detainedCairo: A judge today ordered the detention of the captain and second officer of the containership that collided with a fishing vessel in the Gulf of Suez on December 14, killing 13 people. Judge Ahmed Mahfouz of the Misdemeanor Co...

Libyan oil production plummets 60 percent this week

Libyan oil production plummets 60 percent this weekCairo: Libyan oil production has dropped by 60% in the past week, according to a government official, as clashes between pro-government forces and Islamist militias in the country's eastern area have resulted in the closure of key oi...

New port community system for Abu Dhabi

New port community system for Abu DhabiAbu Dhabi: Abu Dhabi Ports Company (ADPC) yesterday launched Maqta Gateway, a new innovative port community system (PCS) project. The Gateway is a state-of-the-art system that connects ports, exporters, importers, shipping lines, ...

Giant quay cranes delivered to Dammam Port

Giant quay cranes delivered to Dammam PortJeddah: Three new gantry cranes able to load the world’s biggest container vessels were delivered on Monday at King Abdul Aziz Port in Dammam, Saudi Arabia. The new 44-metre-tall cranes were delivered to the port’s Internation...

UASC ‘cooperating’ with local authorities over Suez smash, ship named

UASC ‘cooperating’ with local authorities over Suez smash, ship namedCairo: The containership involved in Sunday’s tragic collision with a fishing vessel on the Suez Canal was the 6,921-teu vessel Al Safat (pictured), operated by United Arab Shipping Co (UASC), sources have confirmed to GulfShip New...

Authorities continue to investigate Suez smash

Authorities continue to investigate Suez smashCairo: The captain and first officer of a UASC containership remain in police custody facing questions after their ship collided with a fishing vessel in the Red Sea, killing at least 13 Egyptians, though the final death toll could b...

GCC states close in on Customs Union

GCC states close in on Customs UnionDubai: The six-member Gulf Co-operation Council (GCC) is close to forming the GCC Customs Union. The six GCC states -- the UAE, Bahrain, Saudi Arabia, Qatar, Oman and Kuwait – have agreed to impose a unified tariff of 5% on fore...

Court throws out Johnny Saadé’s claims for a stake in CMA CGM

Court throws out Johnny Saadé’s claims for a stake in CMA CGMCairo: A court in Lebanon has thrown out a claim by Johnny Saadé to get a slice of CMA CGM. Johnny Saadé is the brother of Jacques Saadé, the founder and chairman of the French containerline. He has been fighting to get a slice of...

Al Jaber to provide marine logistics at Abu Dhabi offshore oilfield

Abu Dhabi: Al Jaber Energy Services (AJES) has won a second contract to provide marine Petrofac Emirates with marine logistics services for construction work on the Upper Zakum offshore oilfield, 84 km north west of Abu Dhabi. The new contract is ...

UASC opens agency in Switzerland

Dubai: United Arab Shipping Company (UASC) will open a new agency office in Switzerland on January 1, 2015. The agency, UASAC Switzerland, will be a subsidiary of UASAC Deutschland and will take over all agency activities from Fiege Logistics, whi...

15 dead as boxship slams into fishing vessel

Cairo: The death toll from a tragic collision between a containership and a fishing vessel yesterday morning on the Suez Canal has risen to 15. A Panamanian-flagged boxship, which some local media has claimed is Kuwaiti-owned, slammed into a fishing ...

Indian ports ready to invest in Chabahar

Mumbai: The Indian ownership structure of the proposed vehicle to invest in an Iranian port has been fixed. Mumbai’s Jawaharlal Nehru Port Trust will take a 60% equity in the Indian company to be formed for developing Chabahar port in southeastern ...

Bitter fighting forces Es Sider’s closure

Cairo: Libya’s eastern oil ports of Ras Lanuf and Es Sider have become the focal point in a bitter fight between rebels and the recognised government with Reuters reporting a number of air strikes by government forces near the two ports yesterday i...

Construction of Sohar’s latest terminal set to start in March

Muscat: Building of the planned agro-bulk terminal at Sohar Port is expected to commence in March next year. The first-of-its-kind agro-bulk terminal in the region will handle 700,000 tonnes of grain and 1m tonnes of raw sugar imports once it is fu...

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Maritime CEO
Maritime CEO

In Focus

Analyse this

Bei Hong reflects on a tough year for shipping analysts and wishes them well in the new world of industry consolidation

Analyse this

Another year draws to a close and with it, the percentage of years of my shipping career where markets can best be described as ‘disappointing’, sadly increases. This is no place to be conducting a ‘review’ of the past twelve months. December seems to bring about a host of such things, together with awards ceremonies, which this title has so far mercifully managed to shy away from. Back in the UK, the onset of the Christmas season is not heralded by an event with any religious significance, but by the annual Sports Personality of the Year television extravaganza, an event which more often than not proves that if you were blessed with great sporting talent, it invariably came at the expense of anything resembling a personality.

Personality is something which participants in the shipping industry have never been short of -- larger than life characters have dominated the business for years. Shipowners have always been prime tabloid fodder - Oslo, Greece and Hong Kong in particular have their share of tycoons who regularly appear on the social as well as the business pages, but recent years have seen the rise of the celebrity shipping analyst. They might not be making it on the social pages, but the rise of the shipping conference industry has seen analysts take on a much higher profile -- and 2014 probably wasn’t a great year for them.

Unless you subscribe to the conspiracy theory that the analysts were talking things up on instructions from their broking and investment banking colleagues who were acting on behalf of th ...   More>>