“Traditional freight forwarding now requires additional services”
The Covid-19 pandemic is forcing freight forwarders to expand their services in order to secure contracts. “We have to rethink how we handle project forwarding and offer additional services like engineering”, said managing director Maria...Read more
Charter rates continue upward trend
The charter rates for multipurpose vessels continue to crawl back up from the low levels of June and July this year. Toepfer’s Multipurpose Shipping Index for October shows an increase of 70 dollars to an...Read more
BIMCO: Sharp rebound in shipping unlikely
At the Project Cargo Summit, taking place on 23 and 24 September, Peter Sand of BIMCO presented his outlook for project cargo, heavy lift and breakbulk shipping. He sees ‘an industry under pressure’. Yet, there...Read more
Turn crisis into opportunity with the Project Cargo Summit 2020 Online
The world economy has taken a massive hit, but as entrepreneurs and economists will often tell you, crises also present opportunities. During the online edition of the Project Cargo Summit 2020 on the 23rd and...Read more
Breakbulk Americas is the latest event to bite the dust due to Covid-19
Breakbulk Americas is the latest event to have been cancelled as the coronavirus pandemic remains cause to prohibit events and restrict international travel. Organizer Hyve Group has rescheduled the event to return to Houston from...Read more
Agility’s profit falls sharply but projects division performs strong
Freight forwarder Agility has recorded a sharp decline in net profit but was able to remain profitable in the first half of 2020. “If the crisis has demonstrated anything, it is the essential value of...Read more
Boskalis in red due to write-offs on ships and goodwill
Offshore contractor Boskalis has recorded a net loss of more than EUR 96 million in the first half of the year as a result of a substantial write-off on ships and goodwill of almost EUR...Read more
Jumbo calls on Solis to mobilise vessel in Covid-19 workaround
Jumbo Offshore partnered with Solis Marine to prepare its vessel Jumbo Javelin for the transport and installation works at the Yunlin Offshore Wind Farm in Taiwan, after the company’s engineering team itself was unable to...Read more
Vestas increases revenue by 67% despite “challenging circumstances”
Vestas has increased its revenue by 67% in the second quarter to a total of EUR 3.5 billion. While the pandemic is creating some difficulties, the turbine manufacturer is confident about the remainder of 2020...Read more
Crosby CEO: “You have to ask where your rigging hardware came from”
Crosby Group CEO Robert Desel pleads for more transparency to improve safety in the heavy-lift industry. “When you buy a piece of rigging hardware, you need to ask yourself: Who did I buy it from,...Read more
Breakbulk Europe cancelled for 2020
Breakbulk Europe has been cancelled for 2020. “Government regulations impose a ban on all events and exhibitions with 1,000 or more participants until 31 October 2020, which means it is impossible to deliver the event...Read more
Schlumberger cuts 21,000 jobs
Schlumberger is cutting 21,000 jobs in response to the pandemic and related oil crisis. CEO Olivier le Peuch says the second quarter “has probably been the most challenging quarter in the past decades.” The company...Read more
Plans for larger ‘Pioneering Spirit’ shelved indefinitely
Offshore contractor Allseas has postponed the announced construction of a larger successor to the offshore platform remover Pioneering Spirit indefinitely. Before the corona crisis and the implosion of the oil price, the huge vessel was...Read more
Drewry: charter rates won’t recover until end of 2021
Charter rates for multipurpose ships are not expected to recover back to pre-Covid-19 levels until the end of 2021, with the recovery anticipated to take even longer if the global pandemic is not contained, says...Read more
DHL CEO: “We have navigated our company through this crisis very well”
DHL has regained its confidence for 2020 after performing well in the second quarter. The company has issued profit guidance of between EUR 3.5 and 3.8 billion, which is just slightly lower than the operating...Read more
Breakbulk Asia cancelled for both 2020 and 2021
Breakbulk Asia has been cancelled for this year and the next. “With the ongoing travel restrictions into China for international exhibitors and delegates, as well as internal restrictions as those in place for Beijing-based customers,...Read more
Aker Solutions posts better than expected results
Aker Solutions has recorded better than expected second-quarter results. Cost-saving measures and increased activity in existing projects have led to higher revenue, earnings and order-intake than anticipated following the outbreak of Covid-19. Read more
Maersk ships millions of masks to North America… by air
Maersk Special Project Logistics (SPL) has shipped 53.3 million N95 facial masks from Asia to North America between April and May. Not wit its container vessels, but by air, using multiple full Boeing 747-400F and...Read more