Marine News

1. Zim upgrades guidance on sevenfold earnings increase

   An increase in business has prompted Israeli container shipping company Zim to upgrade guidance, also forecasting long-term growth.

2. The world's ten biggest container lines have all chosen their alternative fuels

   None of the world’s largest container lines will sail exclusively on bunker oil in the future, but there is no clear winner in terms of which green fuel carriers opt for.

3. Port of LA and university join forces to strengthen port sustainability

   California State University UCLA will research green technologies and supply chain optimization, which the port will work to implement, according to a statement.

4. Bunker Holding boss wants to see concrete action: “We must let go of long-term climate plans”

   The chief exec elaborates on the binding agreements made at the COP29 climate summit to promote hydrogen-based fuels. 

5. Lawyer dismissive of ship managers' hopes to sue over carbon quotas

   Although ship managers risk being stuck with the bill for EU carbon quotas, they themselves have agreed to the allocation of responsibility, says lawyer.

6. Chinese bulker suspected of severing cables in the Baltic Sea

   Swedish authorities are investigating whether the ship committed sabotage on its voyage from Russia to Egypt, while several European governments point to Russian sabotage.

7. Marine insurers hike rates on higher claims and inflationary concerns

   NorthStandard is the latest to announce the rise which is in line with the rest of the market.

8. DSV is halfway through regulatory approvals for Schenker acquisition

   The logistics company has secured half of the approvals needed to close the acquisition of German DB Scenker, says CFO.

9. Russia’s fuel shipments jump to nine-month high as refiners ramp up

   Russian refined fuel exports surged to a nine-month high in early November, averaging 2.33mbpd – a 21% jump from volumes in October.

10. Media: Trafigura accused of bribery in Angola

    According to Swiss prosecutors, the large trading firm bribed its way to contracts in Angola in the years 2009-2011, reports the Financial Times.

11. Houthi militants are sending threatening emails to German carriers

    According to the German Shipping Association, the Houthi movement is in possession of “well-researched email addresses.”

12. Star Bulk earns less yet banks on benefits of large merger

    The bulk major noted a decline in the latest quarter, but is working to reap the benefits of the merger between Eagle Bulk and Starbulk in the near future, says chief exec.

13. Maersk Tankers to pay significant damages in relation to Asian oil scandal

    The shipping company has been ordered to pay substantial damages to bank UOB in a case involving gas oil deliveries to the collapsed Hin Leong Trading.

14. Star Bulk remains silent on new collective agreement and union dispute

    Despite several emails and most recently a personal approach at a conference in Hong Kong, Star Bulk still declines to answer a number of questions.

15. West P&I opens new office in Dubai

    West becomes the first International Group club to establish a presence in the Middle East which is growing in maritime significance.