Denmark’s AP Moller-Maersk announced the first share buy-back in its 110-year history yesterday as an overhaul of the sprawling shipping and oil empire leaves it with more cash than it can usefully invest.
Maersk shares jumped 5 per cent after the company reported better than expected quarterly earnings and raised its 2014 profit guidance, as [...]
China Shipping Container Lines(CSCL), Orient Overseas Container Lines (OOCL) have teamed up with CMA CGM and Pacific International Lines (PIL) on routes between Northeast Asia, Australia and New Zealand from early November.
The weekly service will depart from Shanghai and turn around in 49 days, offering extensive port coverage in Asia and New Zealand, with [...]
SAN FRANCISCO, CA (August 19, 2014) – Longshore workers were able to safely enter the gate of an Oakland terminal on Tuesday night and work the ZIM vessel PIRAEUS. Unlike previous shifts over the last several days, the number of demonstrators and police at the terminal’s gate was small, and Longshore workers determined that the [...]
Members of the International Longshore and Warehouse Union were unable to report to work Sunday night at SSA Marine’s terminal in Oakland, Calif., due to volatility associated with a large demonstration and significant police presence at the gates of the facility. In 2005, Oakland police fired rubber bullets in similar circumstances, wounding several longshoremen who [...]
Maersk Line will not stop calling at West African ports stricken by the Ebola virus, but the company will suspend shore-leave — which is the leave that professional sailors get to spend on dry land — as well as make some changes to crews in Nigeria, Liberia, Sierra Leone and Guinea, Lloyd’s Loading List reports.
Two updates this week on Matson’s recent legal issues:
Matson settles fuel surcharge suit for $10M Ship and Bunker
U.S. shipping company Matson Inc. [NYSE:MATX] (Matson) will pay $9.95 million to settle a lawsuit over improperly billing the government for fuel surcharges, Pacific Business News reports.
The lawsuit had claimed that Matson and fellow [...]
On the heels of news that Horizon Lines may sell its Puerto Rican trade lines to Crowley, analysts say that the company may be prompted to sell its Alaska lines to Matson.
Analysts at Stifel Nicolaus say the sale could come as a necessity if Horizon sells part of its business to Crowley.
“Taking out [...]
Table 2 shows the position between Asia and North America at the beginning of June, from which it can be seen that the G6’s market share of 35% well exceeds the EU’s 30% guideline, and member lines are also allowed to belong to a discussion agreement, so can recommend common surcharges and rate increases. [...]
From the Journal of Commerce:
According to PIERS, the data division of JOC Group Inc., Matson transported nearly 103,000 TEUs from China to the U.S. in 2013, just over a 1 percent share of the eastbound trans-Pacific market. Though operating with U.S. crews on relatively small U.S.-built ships means its costs are higher than foreign-flag [...]
AP Moller Maersk, Mediterranean Shipping Company and CMA CGM Group have emerged as leaders in the global shipping business on the global ranking for shipping liners based on their market share as well as the twenty-foot equivalent units (TEUs) capacity of containers they handle.
According to alphaliner.com, APM-Maersk, which took the first position, handles about [...]
Click to download news release; text below
SAN FRANCISCO (July 18, 2014) – The International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) today issued the following statement:
After several days of ongoing talks, both parties will break from negotiations next Monday and Tuesday in order for the ILWU to convene [...]
The Transpacific Stabilisation Agreement (TSA) group of container lines is trying for another big rise in rates from Asia to the US.
It said its 15 members should add at least $600 per 40-foot container (feu) from 1 August, lifting numbers over $4,000 per box.
Companies like Maersk Line, MSC, CMA CGM, Cosco and Hanjin [...]
With Maersk, MSC and CMA CGM now in damage limitation mode following their failure to get P3 agreed in China, what else can they do to cut costs? Drewry Maritime Research considers the question in their latest ‘Container Insight Weekly’ – excerpts as follows:
Following China’s rejection of P3 last month, Maersk, MSC and CMA [...]
L&T Kattupalli Port and its container terminal operator International Container Terminal Services India Pvt. Ltd. (ICTSI) of Manila have parted ways.
While ICTSI maintained silence on the issue, L&T Kattupalli Port has removed reference to the container operator from its website.
Significantly, the separation has taken place just a couple of days before the arrival [...]
Ship breaking at Anang Beach, Mumbai, India
Excerpts from the Copenhagen Post:
The Danish shipping giant Maersk Line has been accused by a NGO of not living up to its own ethical guidelines when it comes to the scrapping of its ships.
Last year, three former Maersk ships were scrapped at Alang Beach near [...]