Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

Cosco Pacific seen distancing itself from Greek port project

Cosco Pacific, the port unit of China Ocean Shipping Group, seems to be distancing itself from any involvement in a port privatisation plan in Greece, where a new leftist government has tried to shed austerity commitments, casting doubt on further investment by the Chinese firm.

“Any decisions related to [the bidding] of Piraeus Port Authority [...]

Share

Cosco scraps two container ships ahead of larger vessel deliveries

China Cosco Holdings pushed ahead with its fleet scrapping plan last month by dismantling two container ships and two bulk carriers.

The scrapping of the vessels incurred about renminbi 59 million ($9 million) in losses, according to a May 13 stock filing. … China Cosco is renewing its fleet and replacing older vessels with new [...]

Share

AP Moller-Maersk’s $1.57 billion Q1 net profit beats expectations, lifts 2015 forecast slightly

From the Economic Times:

COPENHAGEN: AP Moller-Maersk reported a first-quarter net profit above forecasts, helped by strong performance in its container shipping segment and the sale of a stake in a bank, although still weighed down by low oil prices for its oil unit.

Denmark’s largest company by revenue said net profit rose to $1.57 [...]

Share

Pasha Hawaii gains second ConRo vessel

VT Halter Marine has delivered the M/V Marjorie C combination container and roll-on / roll-off (ConRo) vessel to Honolulu-based Pasha Hawaii. The Marjorie C ConRo vessel was designed by Uljanik Shipyard in Croatia and built by VT Halter Marine. Courtesy of Pasha Hawaii.

Marjorie C will join its sister ship M/V Jean Anne, also [...]

Share

Iran releases Maersk container ship seized in strait of Hormuz

Excerpts from The Guardian:

Iran has released a Marshall Islands-flagged container ship and its crew which were seized last week in one of the world’s major oil shipping lanes, the vessel’s operator has said.

The ship was diverted on 28 April by Iranian patrol boats in the strait of Hormuz, prompting the US to send [...]

Share

Taiwanese shipping company Yang Ming agrees to use Piraeus as trade terminal

Taiwanese container shipping company Yang Ming Lines announced on Monday it has agreed to start using the installations of Piraeus Container Terminal (PCT), the local subsidiary of China’s Cosco, as a transfer terminal for the wider region of the Mediterranean and the Black Sea, its representative in Greece said.

Arkas Hellas, which represents the Taiwanese [...]

Share

Giant Hanjin boxship catches fire in Suez

Suez Canal Authority said it controlled a blaze in a British container ship passing the waterway Friday, leaving no human losses.

The fire broke out in a stack of containers towards the stern while the 13,000-teu Hanjin Green Earth vessel was underway 48 km to the south of the canal on Friday evening. The fire [...]

Share

Iran seizure of Maersk container ship tied to old cargo dispute

Maersk Tigris seized in Iran. BBC graphic.

Iran’s seizure of a container ship this week stems from a decade-long dispute over 10 shipping containers, officials at Maersk, the Danish shipping giant, said on Thursday.

The United States sent a destroyer to the Persian Gulf on Tuesday in response to the seizure. On Thursday, Col. [...]

Share

Look for liner reliability, not speed, Drewry tells shippers

Forget faster shipping services and press container lines for better reliability, is the advice from Drewry to shippers prepared to pay a premium for expedited options.

In its Container Insight Weekly, the analyst said Robert Gora, Siemens vice president, global category management logistics, had called on carriers to offer faster services between Asia and Europe [...]

Share

Zim to order 10 TEU 13,000 vessels

Israel’s Zim Integrated Shipping Services Ltd. is reported to be planning its first newbuilding orders since the financial crash.

Zim president and CEO Rafi Danieli noted that the company has not ordered newbuildings for nearly a decade, having entered the financial crisis with more than 40 containerships on order, most of which were cancelled.

Danieli [...]

Share

European shippers launch global review of mega-alliances

European shippers are stepping up their scrutiny of shipping alliances, launching their own review of the massive vessel-sharing agreements.

Sixteen of the world’s 20 largest container carriers are members of the four so-called “mega-alliances”: 2M, Ocean Three, G6 and CKYHE. And although the alliances received the go-ahead from global regulators, the European Shippers’ Council maintains [...]

Share

Colombia releases Chinese ship, holds captain

Colombia has freed Da Dan Xia, COSCO Shipping’s heavy-lift vessel involved in an illegal arms transport, and has ordered the ship to head to Havana, Cuba, on 21 April.

The ship was detained in Cartagena by Colombian authorities in March this year for carrying illegal weapons. Approximately 100 tonnes of gunpowder, 2.6 million detonators, 99 [...]

Share

DOJ okays Pasha’s acquisition of Horizon’s Hawaii business

The Pasha Group says that the U.S. Department of Justice (DOJ) has cleared its acquisition of the Hawaii trade-lane business of Horizon Lines, Inc. (Horizon). This paves the way for an anticipated final closing before the end of the second quarter.

In becoming part of Pasha, Horizon’s Hawaii business will operate alongside Pasha Hawaii’s existing [...]

Share

‘Container shipping CEOs have huge egos’ in ordering megaships, says CEO

Interesting perspective from OOCL CEO in excerpts from a Journal of Commerce article titled ”No escape from ship ordering ‘arms race,’ OOCL head says”

Container shipping lines cannot get out of the large vessel arms race and excess capacity will be a permanent problem, according to Orient Overseas International Ltd. chairman Tung Chee Chen.

“In [...]

Share

UP: West Coast woes, Panama Canal expansion won’t spur major cargo shift

The JOC reports that, ”Fritz’s comments poured cold water on industry-wide speculation that shipper frustration with months of West Coast delays could trigger a cargo shift like one following the 10-day lockout of longshore workers on that coast in 2002.” Photo shows Ports of Los Angeles and Long Beach.

Union Pacific Railroad on Thursday [...]

Share