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Saudi-based Bahri affected by shipping crisis in Strait of Hormuz

Bahri, the Saudi-based transportation giant, experienced a decreased net income to SR224.9 million in the first half of 2019, affected by the shipping crisis in the region. CEO, Abdullah Aldubaikhi commented that ‘The financial results achieved for the first half of 2019 reflect the difficulties that the region is going through, which impacted the whole maritime shipping industry.’

Report: Cargo theft trends in 2018

TT Club and BSI Supply Chain Services and Solutions issued the Global Cargo Theft Intelligence and Advisory Report for 2018, highlighting the impact of cargo theft on the global supply chain. This follows an earlier publication for the first half of 2018.

Barrels of Iranian oil are piled up in Chinese ports

About two months after the White House banned the purchase of Iranian oil, tankers are offloading millions of barrels of Iranian oil at Chinese ports, resulting to piles of cargoes. Bloomberg reports that the store of oil could lead to a push down of global prices, in the possibility that Chinese refiners decide to draw on it. 

How illicit trade impedes UN Sustainable Development Goals

TRACIT and UNCTAD examined how illicit trade impedes the 17 UN Sustainable Development Goals, noting that despite the recognition of international trade as an important means to achieve the SDGs, insufficient attention has been given to the substantial impact that illicit trade has on  holding back progress.

Alfa Laval sees decreased demand on scrubbers

Swedish engineering group Alfa Laval published its Interim report for the time-frame between April 1 and June 30, 2019, highlighting that but its order intake was down due to ‘weak demand’ for pumping systems and scrubbers.

US-China trade war to affect Hutchison Ports

The amount of outbound cargoes to the US is expected to be volatile for this year as the US-China trade dispute continue. Namely, container port business Hutchison Port Holdings Trust (HPH Trust) is expected to announce its second quarter results ended June 30, 2019, after the market closes, according to IG Bank.

East China’s Shandong sees its marine economy increase significantly

East China’s Shandong Province is fully focusing on its advantages to develop the marine economy, by switching gear to new growth drivers. In fact, Shandong faced a marine economy output growth of 1.55 trillion yuan last year, increasing from less than 20 billion yuan in 1991, according to provincial Communist Party Chief Liu Jiayi.

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