Troubled owner Saint James Shipping has paid off the crew and taken back one of its disputed ships from manager Global Radiance
Finance
Sovcomflot finds a way to pay holders of Irish bonds in Russia
Meeting of investors adopts ‘package’ of measures to allow sanctioned shipowner to meet coupon obligations
U.S. Xpress shows no marked improvement at Variant
The numbers at the Variant initiative at U.S. Xpress are not getting better.
U.S. Xpress (NYSE: USX) began breaking out performance statistics for Variant — its startup tech-driven truckload company within a legacy truckload company — in the fourth quarter of last year. So far, those numbers are not indicating success for the truckload carrier’s bold move to remake its business.
One selling point for Variant was its unique way of compensating drivers would result in less turnover. But the...
https://www.freightwaves.com/news/u-s-xpress-shows-no-marked-improvement-at-variant
Why Atlas Air has become tempting takeover target for investors
Unconfirmed reports that Apollo Global Management is in advanced talks with Atlas Air Worldwide Holdings to take the freighter airline private provides the latest example of private capital flowing into the air cargo space. It’s a trend that accelerated during the COVID-19 crisis as aircraft became essential for delivering critical medical goods and supporting an explosion in online buying.
Top private equity firms sitting on hundreds of billions of dollars are looking to deploy their uninvested...
https://www.freightwaves.com/news/why-atlas-air-has-become-tempting-takeover-target-for-investors
K Line’s operating profit surges on container shipping results
Japanese group reports significant improvement from joint box line ONE as bulk and tanker earnings also rise in first three months of 2022
K Line Q1 operating profits surge 686% on container results
Japanese group reports significant improvement from joint box line ONE as bulk and tanker earnings also rise in first three months of 2022
AP Moller-Maersk increases share buyback to $3bn after guidance hike
Chief executive Soren Skou hails record results but warns of softening demand in coming months
AP Moller-Maersk delivers ‘exceptional’ profits and ups share buyback despite weaker demand
Chief executive Soren Skou hails record results but warns of softening demand in coming months
Japan’s NYK Line books huge Russian LNG impairment
Extraordinary loss recorded in relation to LNG transportation for Sakhalin 2 project.
Japan’s NYK takes Russian LNG write-down as containers and dry bulk surge
Extraordinary loss recorded in relation to LNG transportation for Sakhalin 2 project