China’S COSCO group has secured $1.75 billion financial agreement with Export-Import Bank of China (China Exim Bank) for its newbuilding programme.
The loan [...]
Evergreen Group has agreed to charter eleven 18,000-teu containerships from Japan-based shipowner Shoei Kisen Kaisha.
The charter agreement was signed between the two companies this week, and includes the six 18,000-teu units chartered in December by Evergreen Marine Corp.
Evergreen has a total of 66 vessels of 8,500-teu and over that are in the in [...]
Israeli ocean carrier Zim has finally axed its monthly ad-hoc sailings from Asia to North Europe, according to a report from Alphaliner, ending the restructured container line’s presence in the trade.
Severe losses, much attributed to the highly-competitive Asia-North Europe tradelane, obliged the ‘new’ Zim to suspend its liner service last April and terminate its [...]
The 2M Alliance has officially launched with the departure of Maersk Line’s newest ship from Dalian in China, reports World Maritime News.
The event marks the beginning of the vessel sharing agreement (VSA) made between Maersk Line and Mediterranean Shipping Company (MSC), which will see the two companies share 185 vessels with an estimated capacity [...]
Pacific shipping company Matson Monday announced in an emailed statement that it will further reduce its bunker surcharge, lowering it by four percentage points on its Hawaii, Guam/CNMI, and Micronesia services.
“We are pleased to be able to make another downward adjustment to our fuel surcharge, which for most customers represents a reduction in shipping [...]
Question: When does two plus two equal 95? Answer: When the two new vessel alliances that will launch their joint services this month join the two existing alliances that are expanding. Together, the 16 container lines that are consolidating their routes and services will control 95 percent of the cargo volumes moving in the major [...]
State-owned China Cosco Holdings has announced the disposal of 17 vessels with a combined tonnage of 919,853 dwt.
The Chinese shipowner has sold four containerships and 13 dry bulk carriers to the scrapyards between September to December last year, fetching in RMB318.2m ($51.2m) but realising a loss of RMB123.86m.
The loss, however, would be offset [...]
From the Associated Press:
A federal mediator is getting involved in stalled contract talks between West Coast dockworkers and their employers.
Political and financial pressure has been building as each side blamed the other for the slow movement of billions of dollars of cargo across the docks at 29 seaports that are a vital trade [...]
Excerpts from the Journal of Commerce:
Contract negotiations resumed Monday between the International Longshore and Warehouse Union and the Pacific Maritime Association after the holiday recess, but it appears that no significant progress will be made until both parties agree to compromise on the controversial issue of chassis maintenance and repair.
Until this year, shipping [...]
A depot to temporarily store empty containers and alleviate ongoing congestion at the nation’s second busiest seaport is now open, Port of Long Beach officials said Monday.
The 30-acre facility on Pier S, which will run at least until March 31, opened Monday to serve as a temporarily solution for dealing with bottlenecks at the [...]
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