Topic: COVID-19

Recession not as bad as initially feared

Although the global economy is still predicted for a recession in 2020, the intensity of it is now lower than previously anticipated, analysis of the IMF projections by shipping consultant SeaIntelligence shows.  Compared to June,...Read more
|Comment|author: Tobias Pieffers

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
|Comment|author: Tobias Pieffers

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
|Comment|author: Tobias Pieffers

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
|Comment|author: Tobias Pieffers

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
|Comment|author: Tobias Pieffers

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
|Comment|author: Tobias Pieffers

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
|Comment|author: Tobias Pieffers