ReCAAP notes a 25% year-on-year decline in sea robberies and piracy in Asian waters — the lowest in a decade. Although incidents decreased in the high-risk Sulu-Celebes Seas and waters off Eastern Sabah, crew abduction remains a serious issue, it warned.
UAE-based terminal operator DP World is extending its South American footprint with acquisition of Chilean terminal operator with concessions at two ports.
There is an evergreen demand for new ships, even in markets suffering from weak returns such as container vessels. Valuation premiums for some Chinese yards have improved substantially over the past several years as they have cemented their reputation and established a more robust network of equipment suppliers.