SHIPPING COMPANY
Share market update: Most active stocks of the day in terms of total traded value
The NSE Nifty index was trading 13.25 points down at 24128.7
DSV, CVC seen as lead contenders for Schenker after Maersk drops
DSV and CVC emerge as top contenders for DB Schenker after Maersk exits. The potential deal could reshape Euro logistics, with Deutsche Bahn aiming to modernize operations through the sale.
Trade routes in turmoil: Why Indian exports are piling up in Colombo and Singapore
About 75% of India's transshipped cargo is handled at ports outside India, and the major trade routes connecting India to various destinations, including Colombo, Singapore, and Port Klang, are currently experiencing strain.
US targets petrol tankers over Iran nuclear 'escalation'
The United States announced sanctions on Thursday against shipping companies for transporting Iranian oil. The action was taken in response to Iran’s nuclear program actions, just before the presidential elections in Iran.
Budget 2024: 25% share by Indian liners could save $50 billion annually, says FIEO
Key export-related demands included creating an Indian shipping line, duty cuts, and extending credit schemes. Nasscom pushed for favorable policies like transfer pricing rules and deep tech clarity, with officials present to address concerns.
Drone-sinking of coal ship takes Red Sea perils to new level
The sinking of a coal-carrier by a sea drone near the Bab el-Mandeb chokepoint has raised navigation risks.
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Container rate surge enters longest stretch since the pandemic
Rates from Shanghai to Los Angeles have risen for seven weeks, reflecting the balance of supply and demand in the container market.
How crews suffer when shipping costs are halved
Stories about ship food tend to focus on the luxuries of cruise liners, which boast of serving whatever diners want, or close.
GRSE secures export order worth $54 mn from German co for commercial vessels
Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd has signed a $54 million contract with Germany-based shipping company Carsten Rehder Schiffsmakler und Reederei GmbH and Co. KG for the construction and delivery of four multi-purpose cargo vessels. The vessels, each 120 meters in length and 17 meters in width, will carry 7,500 metric tonnes of cargo.
Panama Canal averts shipping crisis with its water plan — and some luck
The Panama Canal avoided a shipping crisis by managing water carefully. During a drought, vessel crossings were limited, but now the limit has been raised, reducing wait times.
Container shortage is shipping’s Achilles’ heel
An initial surge in freight prices — prompted by ships taking the much longer route around the Cape of Good Hope — petered out in March, yet prices have now surged even higher.
Maersk faces significant port congestion in Asia, Mediterranean
Maersk faces significant terminal congestion in Mediterranean and Asian ports, causing substantial delays in its vessel schedule.
Ships diverted from Red Sea send ripple effects across the globe
Supply chain managers paying for the services look to place order in advance as ships face extended journeys since they spend more time at anchor.
Wall St Week Ahead-Struggling Dow transport stocks could be economic warning signal
The Dow Jones Transportation Average has fallen 5% this year, contrasting with the S&P 500 and Dow Jones Industrial Average. Chuck Carlson sees it as a barometer for economic activity, signaling a possible slowdown ahead.
Udupi Cochin Shipyard Limited receives new order from Adani's Ocean Sparkle
Udupi Cochin Shipyard Limited (UCSL), a subsidiary of Cochin Shipyard Limited (CSL), has secured a new order from Ocean Sparkle Limited (OSL), an AdHarbor Services company. The order is for the construction of three 70 T Bollard Pull ASD (Azimuthing Stern Drive) Tugs, as announced by the company in a release on Friday.
The $10,000 shipping container looms in latest trade strains
With capacity stretched by more than five months of attacks on vessels in the Red Sea, the container shipping industry is scrambling to meet demand that’s picking up in the US and Europe.
What happened on the Royal Caribbean's 'New Icon of the Series' ship? Did a passenger go missing?
A passenger who went missing was found and it brought relief to fellow passengers who assumed that he was doing well. Little did they know that he was brought dead.
Whether there is a 10% correction or a 30% crash, market to bounce back in 8-10 months: Rajat Sharma
Rajat Sharma, Founder & CEO of Sana Securities, discusses the market valuations, particularly on the Nifty, currently at 21.9. He believes India is a bright spot even in a potential market correction or crash. Sharma says that post election results, on 10th or 12th July we will have the Union Budget and post that, there would be some correction.
Deutsche Bahn invites fresh bids for €15 billion logistics arm
Deutsche Bahn AG has evaluated bids for DB Schenker. Companies such as CVC, Carlyle, DSV, Maersk, MSC, Bahri, ADQ are the potential buyers.
Corporate actions this week: SBI, Tata Consumer Products to go ex-dividend, Bharat Dynamics ex-split & more
This week, SBI, Colgate-Palmolive (India), Oberoi Realty, Tata Consumer Products, and Sula Vineyard will go ex-dividend. Bharat Dynamics and Som Distilleries Breweries & Wineries will undergo a stock split, with other companies also set for corporate actions such as bonus issues and rights issues. On May 24, Tata Consumer Products (Rs 7.75/share), and Vedanta (Rs 11/share) will trade ex-dividend.
GAIL hires LNG ship from CoolCo
GAIL (India) Ltd has contracted a newbuild LNG carrier from NYSE-listed Cool Company for 14 years, enhancing its transportation capacity to meet India's rising gas needs. The agreement includes partnerships with Sabine Pass Liquefaction LLC and Cove Point LNG liquefaction terminal.
6 high dividend paying stocks with rising yields over 5 years
Dividends can be a great way of generating a stable source of income for the investors as these are paid on a regular basis irrespective of whether the companies’ share prices are performing good or bad.
HDFC Bank invests Rs 5 crore in this buzzing SME IPO in anchor round
ABS Marine SME IPO is a fresh equity sale of 65.5 lakh shares and through the issue, the company aims to raise around Rs 96 crore. The issue, which closes on May 14, was fully subscribed on the first day of the bidding process.
Great Eastern Shipping Company Q4 Results: Net profit rises 25% YoY to Rs 905 crore
The company's consolidated revenues during the quarter under review also rose to Rs 1,726.25 crore from Rs 1,550.27 crore in the year-ago period. The company's total expenses declined during the quarter to Rs 784.66 crore from Rs 853.22 crore in the year-ago period.
ABS Marine Services IPO: All you need to know before subscribing to the issue
ABS Marine Services IPO: The company is targeting to raise approximately Rs 96.5 crore through the SME IPO and plans to list the shares on the NSE SME platform. Here are 10 important details investors should understand before deciding to subscribe to the public offer.
Tata Steel becomes first Indian steel company to complete fully loaded voyage from Australia to India on B24 biofuel
Tata Steel completed India's first fully loaded voyage from Australia to India on B24 biofuel blend to reduce carbon emissions by 20%. This was in alignment with the company's sustainability goals. This milestone is a significant step towards sustainable shipping practices in India and showcased Tata Steel's commitment to reducing carbon emissions in their operations.
US imposes sanctions on over a dozen companies, three from India for trade and ties with Iran
The United States imposes sanctions on companies, individuals, and vessels, including three from India, for aiding Iranian military's illicit UAV transfers. Sahara Thunder, linked to Iran's military, utilizes India-based companies like Zen Shipping and Port India Private Limited for its operations. These sanctions target entities involved in facilitating clandestine sales of Iranian UAVs to Russia for its war in Ukraine. The US Treasury emphasizes the need to counter Iran's destabilizing actions, coordinating efforts with allies to combat such financing activities.
Shipping companies asked to enhance reporting, tracking mechanism on West Asian routes
In a circular dated April 10, 2024, the Directorate General of Shipping (Mumbai) advised ship managers, ship masters and seafarers to enhance the mechanism for reporting and tracking maritime activities to safeguard the interest of merchant ships and their crews.
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