Maritime Industries
June 2020

The outlook for global economic growth remains bleak as the world is faced with the largest recession since the Great Depression in the 1930s. Commodity prices have declined across the board and most recently, the West Texas Intermediate (WTI) reference oil future drew headlines as it crashed into negative territory at $-37.






June 2020

Long-term contracted ocean freight rates held comparatively steady for the month of May despite the widespread ramifications of Coronavirus, said the CEO of Oslo-based Xeneta, a leading ocean freight rate benchmarking and market intelligence platform. Xeneta’s latest XSI Public Indices registered a 1.2 per cent decline during May.






June 2020

In an effort to collaborate and keep trade flows open during the ongoing Covid-19 crisis, Abu Dhabi Ports has joined 19 of the world’s leading port authorities in signing a first-of-its-kind virtual declaration.






June 2020

Abu Dhabi Terminals (ADT), announced the delivery of its latest batch of ship to shore (STS) cranes as part of its ongoing expansion efforts. Abu Dhabi Terminals is the management company and operator of Khalifa Port Container Terminal (KPCT), the region’s first semi-automated terminal and one of the most technically advanced.






June 2020

Drydocks World, a DP World company, has started construction of the offshore wind installation vessel for the Dutch company Boskalis. The service provider to the marine, offshore, oil, gas and renewable energy sectors held a steel-cutting ceremony last month to mark the start of production on a conversion project for Boskalis BV.






June 2020

Damen Shipyards Group has unveiled a new workboat for the aquaculture industry. The Damen Utility Vessel (UV) 2613 draws upon the heritage of proven vessels from the shipyard’s portfolio, such as the Multi Cat and Shoalbuster, to deliver extreme versatility to the fish-farming sector.






June 2020

Shipping group AP Moller-Maersk warned of a sharp drop in global container volumes due to the coronavirus pandemic, with weaker retail sales and depressed car production dampening demand.






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