Shipping - Page 24

APM Terminals Pipavav has signed a 25-year Power Purchase Agreement (PPA) for a hybrid wind-solar project in Gujarat.

Of nine reporting carriers, eight reported an EBIT of over $1 billion, of which three reported EBIT of over $2 billion.

For nine months of 2024, net income zoomed to $1.6 billion from a loss of $2.5 billion last year.

The company's transport volumes increased by 5% compared to the prior-year period.

The ANIDEA service connects global markets and enhances trade routes.

The partnership will initially focus on the UAE, with plans to expand across the GCC region.

Shipping revenue increased 43% to $10.8 billion and EBITDA nearly tripled to $4.3 billion.

The port surpassed its previous record of 2,900 metric tons in a single day by 52 percent on growth.

Ocean container shipping freight rates spiked more than 70% during the first term of Donald Trump (2017-21).

Freight rates from Shanghai to Genoa zoomed 21% to $4,399/FEU and from Shanghai to Rotterdam surged 16% to $3,954/FEU.

Simons succeeds Boudewijn Siemons, who was appointed CEO and interim COO in February 2024.

Last time Trump ramped up tariffs on Chinese imports, container shipping freight rates spiked more than 70%.