Clarkson delivers 19th consecutive year of growth as profit up 55 per cent March 7, 2022 Integrated shipping services giant Clarkson has delivered its 19th consecutive year of growth, registering a 55.3 per cent surge in profit. In the year ended 31 December, the group reported an underlying profit before taxation of £69.4m, with earnings per share going up 56.2 per cent to 165.6p. “Our record 2021 results are testament to [...]
EU considers ports closure to Russian ships March 1, 2022 The EU is reportedly considering whether to follow the UK’s example and ban Russian ships from docking at its ports. According to the Danish foreign ministry, closing its ports had been considered during Sunday’s meeting when EU foreign ministers agreed to close the bloc’s airspace following the Kremlin’s invasion of Ukraine. “Denmark is actively working [...]
UK becomes first country to ban Russian ships from accessing ports March 1, 2022 The UK has become the first country to pass a law banning all Russian ships from docking at its ports, transport secretary Grant Shapps announced this morning. “At London’s Foreign Office where we’ve just become the first nation to pass a law involving a total BAN of ALL ships with ANY Russian connection whatsoever from [...]
Storm Eunice hits UK shipping hard causing port closures and bottlenecks February 22, 2022 The wreckage caused by Storm Eunice over the weekend didn’t only halt the UK’s road, rail and aviation networks but created unfathomable damages also the UK ports and the overall shipping industry. As a result of the 122mph high winds that stroke across the country, cross-channel ferries were cancelled on Friday, leading to additional bottlenecks [...]
Suez Canal to expand two-way section by 10km February 15, 2022 The Suez Canal’s two-way section will see a 10km expansion, according to Osama Rabie, chairman of the Suez Canal Authority (SCA). The chairman said in a press conference that, following the expansion, the canal will only go from 72km to 82km, as it is too expensive to expand the whole waterway. Rabie added that the [...]
Get used to queueing at Dover, says Road Haulage Association February 8, 2022 HGV drivers better get comfortable as they need to prepare for four-hour long queues at ports, according to the Road Haulage Association. Post-Brexit, checks at Dover and across the Channel have become the new normal, causing mile-long bottlenecks and forcing authorities to implement traffic access protocols such as Dover TAP to avoid extreme congestion in [...]
Meet WasteFuel, the company helping Maersk achieve its decarbonisation goals February 5, 2022 Shipping giant Maersk has recently made industry headlines when it announced it had decided to anticipate its net-zero deadline by a decade. Maersk, the second largest shipping operator in the world, announced in January it would become net-zero by 2040, a decade before its original target. Instead of complying with the International Chamber of Shipping’s [...]
EU shipping laws to leave millions of CO2 emissions unregulated, research shows January 13, 2022 Over 25 million tonnes of CO2 could be left unregulated if the EU’s proposal on shipping carbon pricing was to pass. Drafted in July, the European Commission’s proposal sets out for shipping to be added to the EU’s emission trading system from 2023 over a three-year period to gradually phase out greenhouse gas (GHG) emissions. [...]
Israeli maritime firm Windward floats on LSE after raising £34.5m December 6, 2021 Israeli maritime intelligence firm Windward announced today its admission to trade on the LSE’s AIM market. After raising £34.5m from investors such as Hargreave Hale, the company floated with a market cap of £126.5m, placing shares at 155p. “Today marks the next step in the growth of Windward and I am grateful for all the [...]
Shipping crisis could push global inflation up, UN warns November 18, 2021 The current global shipping crisis could push global inflation rates up 1.5 per cent, hindering the economic recovery. A UN conference on trade and development (UNCTAD) report published today highlighted how the increased costs in container shipping have become a main issue for small suppliers, usually less equipped for absorbing additional expenses. If the current [...]