Once the convention officially takes effect, possibly in late 2015, it will mean the roughly 65,000-75,000 ships in operation globally, including some 5,000 container ships, will, upon dry-docking, be required to install expensive systems to treat ballast water and thus prevent the introduction of nonindigenous species into marine ecosystems, reports the JOC.
Excerpts from [...]
From the Journal of Commerce:
As the use of formalized alliances and vessel-sharing agreements accelerates, carriers’ core product ― moving containers from Point A to Point B ― becomes increasingly identical across alliance partners in major trade lanes. In the Asia-U.S. East Coast trade lane, in particular, carriers have rationalized weekly port calls, and in [...]
Kawasaki Kisen Kaisha (K Line) has announced a new order of a 14,000-TEU quintet. The new boxships will be constructed at Imabari Shipbuilding with length of 365.9 metre, beam 51.2 metre and draft of 14 metre. The price of the container ships was not announced.
The Japanese shipping conglomerate placed the order following the trend [...]
The “Ocean Three” Alliance among CMA CGM, China Shipping and United Arab Shipping Co. came together quickly after the formation of the “2M” agreement among Mediterranean Shipping Co. and Maersk, a deal that left CMA CGM seeking an alliance partner on east-west trades.
Nicolas Sartini, group senior vice president of CMA CGM, in charge of [...]
The container ship Vega Auriga, which made media headlines when it arrived in Tauranga last month after being banned from Australian ports, has clocked up seven departure date cancellations.
Formerly under Mediterranean Shipping Company hire, the ship effectively lost its job when it was barred from Australian ports in August. Defects found during a Maritime [...]
Hapag-Lloyd and Compañía Sud Americana de Vapores (CSAV) secured conditional European Union approval on Thursday for their tie-up to create the world’s fourth-largest container shipping company.
The merger is important for the shipping industry which hopes more deals could help it to overcome the worst slump on record. And if regulators take a soft line [...]
From the Journal of Commerce:
Beneficial cargo owners won’t pay much of a premium for faster service or other ways carriers might be able to differentiate their ocean container services, Maersk Line CEO Soren Skou said.
“I frankly don’t think it’s possible that there are huge opportunities for charging premiums for service in our industry,” [...]
French container shipping group CMA CGM has sealed an alliance with two rivals after a failed attempt to partner with bigger peers Maersk and Switzerland’s MSC, vetoed by China earlier this year due to competition concerns.
CMA CGM said on Tuesday it had agreed a service-sharing alliance with China Shipping Container Lines Co Ltd and [...]
Carriers’ strategy to bundle logistics services with container shipping services appears to be “unraveling,” according to Alphaliner’s latest newsletter.
“These disposals point to the reduced relevance of logistics capabilities for carriers, as the bundling of 3PL services with ocean transportation has not yielded significant synergies,” Alphaliner said. “The affiliated 3PLs are also increasingly competing against [...]
Maersk Inc. has sold its former Madison, New Jersey, headquarters building for more than $53 million to an investment firm that specializes in corporate properties, according to CBRE.
The property, which sits in the five-building Giralda Farms office park, was designed nearly 30 years ago as a build-to-suit for Maersk. The company’s new North American [...]
The U.S. Federal Maritime Commission is unlikely to approve a proposed alliance between container-shipping giants Maersk Line and Mediterranean Shipping Co. before consulting with Chinese regulators, according to one of the agency’s commissioners.
FMC Commissioner William Doyle, one of the agency’s five commissioners, told The Wall Street Journal that he wants to consult with his [...]
Copenhagen-based Maersk Line and Geneva’s Mediterranean Shipping Company (MSC) submitted their 10-year agreement known as 2M with the US Federal Maritime Commission (FMC) on Wednesday local time. The scope of the deal will straddle trade routes from Europe to the US and into Asia.
The FMC will start a 45-day review period before a decision [...]
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 [...]