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ITIC Appoints Jeff Woyda as new Chairman

Chennai: Port Wings News Network: International Transport Intermediaries Club (ITIC) – a mutual insurer which provides professional indemnity cover for transport intermediaries operating in the marine, offshore, renewable and aviation industries – has appointed Jeff Woyda as its new Chairman. Woyda is taking over from Lars Säfverström, who has been …

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Wärtsilä To Deliver Its First CCS-Ready Scrubber Systems

Chennai: Port Wings News Network: Wärtsilä receives first CCS-Ready scrubber order, further propelling maritime decarbonisation. The technology group Wärtsilä has received its first order for carbon capture and storage-ready scrubber systems – CCS-Ready scrubbers – the company has announced today. The major milestone marks the first time that Wärtsilä has …

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Editorial: A Year into the War

Chennai, 8 March 2023: One year since the start of Russia’s full-scale invasion, Ukraine’s economy and infrastructure are in tatters, with the government and its allies planning the largest rebuilding effort since World War II. The World Bank estimates that Ukrainian GDP shrank by 35% in 2022, and projected in …

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ICTSI 2022 Net Income up 44% to US$618.46M

Chennai: Port Wings News Network: International Container Terminal Services, Inc. (ICTSI) on 6 March 2023 reported audited consolidated financial results for 2022 posting revenue from port operations of US$2.24 billion, an increase of 20 percent from the US$1.87 billion reported last year; Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) …

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Editorial: Shipping Struggles to Stay Afloat

Chennai, 1 March 2023: At the peak COVID-19 lockdowns, demand for many products decreased, but as the world returns to normal and demand continues to increase dramatically, the shipping industry finds itself struggling to stay afloat. As a result, maintaining the chain of supply has proven to be difficult for …

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