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.

Maersk drops as company misses estimates after an ‘unusual’ year

From Transport Topics:

A.P. Moller-Maersk A/S fell short of earnings expectations last year but promised its shareholders that profit at the world’s biggest shipping company will grow as much as 43% in 2018.

CEO Soren Skou described last year as “unusual and eventful,” in a statement on Feb. 9. But he assured investors that the […]

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Seaspan charters newly bought vessels to Maersk

From Marine Link:

Seaspan Corporation said it has purchased two 2006-built 2,500 TEU containerships and entered into fixed rate time charter agreements for the vessels with Maersk Line A/S.

The time charters will be for a term of four years with options for up to an additional two years at increasing charter rates.

Upon delivery […]

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Cosco Shipping expects return to profit for 2017

From Seatrade Maritime:

Cosco Shipping Holdings said it is benefitting from the recovery in the container shipping market and is expected to turn in a RMB2.7bn ($426.5m) net profit for 2017, turning around from a RMB9.9bn loss the previous year.

The group also noted that after its massive consolidation and restructuring exercise, the capacity of […]

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NotPetya cyber attack totally destroyed Maersk’s computer network: Chairman

From SC Magazine:

Shipping giant and NotPetya victim Maersk was forced to replace tens of thousands of servers and computers in the aftermath of the June 17 ransomware attack, the company’s charman said in Davos at the World Economic Forum.

Maersk Chairman Jim Hagemann Snabe said while participating on a cybersecurity panel at the conference […]

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TOTE’s new Hawaii cargo shipping service is a no-go

From Transport Topics:

A much-touted plan to start a new Hawaii ocean cargo transportation service is dead in the water.

Two companies that were working to launch what would have been a third major carrier hauling cargo between the West Coast and Hawaii two years from now announced Jan. 26 that the project is on […]

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San Pedro ports set 2017 cargo records

From the LA Business Journal

At its annual ‘State of the Port” address on Jan. 24, the Port of Long Beach celebrated its record-breaking year set in 2017 after a not so great 2016 which saw the bankruptcy of it largest terminal tenant, South Korea’s Hanjin Shipping.

Last year the port moved 7.54 million twenty-foot […]

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Congressional and maritime leaders stress bipartisan support of Jones Act

The House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation held a hearing Wednesday on “The State of the U.S. Flag Maritime Industry” during which congressional and maritime leaders stressed the importance of the Jones Act.

The Committee and those testifying expressed bipartisan support for the Jones Act and enforcement of the […]

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Port of Los Angeles breaks all-time cargo volume record in 2017

Excerpts from a Port of Los Angeles news release:

The Port of Los Angeles moved more cargo in 2017 than in any time in the Port’s 110-year history, racking up 9,343,192 Twenty-Foot Equivalent Units (TEUs), a 5.5 percent increase over 2016’s record-breaking year. It’s the most cargo moved annually by a Western Hemisphere port.

“2017 […]

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Study finds that Port’s Terminal 6 will need to be multi-use to be viable

Excerpts from the Portland Business Journal:

Despite news in November that limited container service would be returning to Terminal 6 at the Port of Portland this year, revenue from other terminal activities will be required to support that service and make it viable.

So says a study from a consultant hired by the port to […]

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BNSF offers new rail service at Port of Portland

From Progressive Rail Roading:

BNSF Railway Co. and the Port of Portland have begun offering a new service at Terminal 6 that enables shippers to move their products on a rail shuttle to the Puget Sound ports.

The new partnership will move containers between Portland and Seattle/Tacoma, where goods can be loaded onto ocean carriers. […]

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Some of ship’s crew who were not paid for six months fly home

From The Great Yarmouth Mercury:

Paul Keenan of the International Transport Workers Federation, left, with oiler Ram Huvan Gupta, 2nd Engineer Satthi Pandiyan, and cook Dipankar Jana. Photo: Maurice Gray

Some of the foreign crew of a ship who were not paid for six months were able fly home in time for Christmas.

The Malaviya […]

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Ocean carrier alliances expand

While the changing atmosphere of ocean carrier alliances for containerized cargo isn’t something new, it has been a tumultuous few years in the industry. What used to be four primary alliances has now transformed into three new large ocean carrier alliances.

Effective on April 1, 2017, these three large alliances are considered formal carrier alliances, […]

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Maersk Line set to reflag Hamburg Süd containerships away from Germany

From The Loadstar:

Maersk Line confirmed last week its intention to reflag a number of Hamburg Süd vessels, including 10,600 teu flagships Cap San Juan, Cap San Lazaro and Cap San Vincent, to either Danish or Singapore registration early next year.

The decision – which it said was in line with Maersk Line’s “flagging strategy” […]

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CMA CGM completes Sale of Los Angeles Terminal

The CMA CGM Group completed on Dec. 2 the sale of a 90% equity interest in Global Gateway South terminal (GSS) in Los Angeles to EQT Infrastructure III (EQT Infrastructure) and its partner P5 Infrastructure (P5), for an Enterprise Value of USD 875 million.

Consequently, CMA CGM received a cash consideration of about USD […]

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China’s COSCO overtakes Maersk as top container shipper in third quarter: Alphaliner

From Reuters:

China’s COSCO Shipping took the top spot in the number of container liftings in the third quarter, overtaking Denmark’s Maersk Line for the first time, data from shipping consultancy Alphaliner showed.

China’s government is pushing to raise the country’s profile in global shipping and last year merged two state-owned firms to form […]

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